Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-05-23
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bonds. Grain,
Cotton, Provisions, Etc.

New York. MAY 22.-Sugar certificates
occupied the attention of the Stock EX-
change to-day TO the practical exclusion
of other considerations. The apathy
and lassitude of the market seemed to
SPUR the professional traders to a
search for some medium of operation,
and they gave themselves up to a
speculative revel in Sugar The move
ment of the stock was highly charac-
teristic That is to say. the fiunctua-
tions were frequent, violent and erratic
and there was no news TO account Tor
them beyond the ARREST and most IN
substantial rumors. Also, 1T was evil
dent that the enormous business being
done would necessitate very little cleri-
cal labor on the transfer books of the
company. Probably the large majority
of the contracts made, either for sale
or for purchase. were closed out be-
fore the end of the day. the profit or
loss being accepted by the traders. The
stocks extreme range was rs points
and the net gain was iSs.
In the opening dealings the price went
down. IN continuation of yesterday
depression. After declining 13s the ad
vance began and ii had not proceeded
far before the shorts began to mani
fest distrust. and rushed to cover, push
ing the price up to the maximum. The
squeeze was not relaxed until the de-
satisfied. The price then began to fall
back on light transactions and without
ony evidence of support. The bears
became weary after their punishment
and rcfrained from aggressive selling.
In spite of the announcements made on
official authority just before the close
that the sugar trade war had not been
settled aud was not likely to be.
The leading industrials showed SYM
PATTY with Sugar especially American
Tobacco. which is nearest kin to 1t in
speculative character. The latter stock
showed better resistance to reaction
than other specialties. which generally
lost pretty much an their gains. The
general list continued in Il slough of
despond aud moved either way with
great difficulty.
Opening prices were lower I'm SYM
pathy with Losldon and there was a
midday rally when Sugar shot upward
and Chicago and Northwestern was
marked UP 5ia. The latter movement
was without explanation beyond the
large increase In earnings for April,
which was reported. Northern Pacific
was comparatively firm on n good
statement for the second week in May
Baltimore and Ohio was we'll supported
on small dealings. For the rest. the
trading was listless and indifferent
with no evidence OF outside interest.
The speculative apathy and depression
were common TO all the great security
markets of the world and even the
speculative markets for foodstuffs and
commodities showed 4 declining ten
dency.
Sterling Exchange here was decidedly
easier. but it is considered not impos-
sible that some gold may be engaged
for Paris tomorrow. The bond mar
ket was dull and irregular again to-
day. Total sales, par value, 1890. 900.
United States rcfunding 2's. when Is
sued. declined &c. the 5's and old As
esc. and the IS and new As nc. in the
bid price. To-day's total stock sales
We're 405 200 shares.
New York, May 22.-Standard Oil,
s5.360542.