Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-04-27
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, NOlay. Exchange. Bonds, Grain,
Cotton, Provisions, Etc.

New York, April 26.-The stock mar
iet developed an impressive show of
strength during the latter part of to-
day. The principal influence in the rise
was resumption OF the upward move
ment in Pennsylvania, ami the Balti-
mere and Ohio stocks. The recent re-
action in these stocks has been accom-
panied by rumorS that important spec
ulatiye interests which had been promi-
ncnt in the advance had sold out and
taken their profits. The news of the
very heavy OUTLAWS in prospect for per-
manent bctterment and increased ship
mentS awakened some apprehension of
dividend, increases being indefinitely
postponed. not only ON Pennsylvania
stock. but on Baltimore and Ohio, and
many others which have been subject
10 ruinors of increased dividends; but
to-day the report of a probable increase
IN The pennsylvania dividend rate took
form again. and was circulated with
great eXpliCitncSS.
Bids were made on the board for The
next scmi-annual dividend on Pennsyl-
Honia on thousands OF shares of stock
"a per cent, compared with 2% per
cent. the last rate.
The meeting of the directors for the
purpose of fixing the dividend rate is
liked for Tuesday. The reports in re-
gard to Pennsylvania had the most in
dlfect lpiluence on Baltimore and Ohio
stocks next to Pennsylvania itself. but
the whole railroad list responded in va
ryjng degree to the influence of this
movement. The pools whose operations
Tor II rise were interrupted by the Steel
ana wire episode resumed their opera
lions to some extent. This was notably
true of the Gould Southwestern group.
which are subjects of tecming rumors
OF prospective combinations or consoli-
dations.
The determined frmness Of Sugar and
It's buoyant upturn later had Il sym
pathetic effect on the market The
movement is still attributed to the de-
mand from the shorts, but the many
assertions of favorable developments in
the trade war may also have had their
effect
number of unusually favorable rail-
road statements also had a STRENGTHEN
ing effect on the market Increases in
net earnings for March were reported
by the Atchison. Topeka and Santa Zee
OF b3' per cent; by the Hooking Valley
OF 10 per cent. and by the Central of
Georgia of 30 per cent. Returns OF
gross earnings for the third week In
April were also uniformly favorable
Ihese factors of strength caused grow
ing uneasiness among the rather I'M
wleldly short interest, and the demand
from that element had no small part
In the rally i'll the market. The un-
steadiness of the sterling exchange
market to-day gave ground for renew
ed doubt as TO the continuance for the
present gold export movement. The
strong return of the Bank of England
for the week. as well as that of the
Imperial Bank of Germany, had some
effect on the exchange market
The Sub-Treasury's debit balance at
the Clearing House showed a further
decline to-day, falling to $3OO,119, COM
pared with the recent average of over
million dollars. If this replensh-
ment TO the money market is cut off It
may serve to prevent the outward flow
of gold.
The bond market showed increasing
activity and strength to-day. Total
sales. par value, $23S0, 0UD.
United States bonds were unchanged
In bid quotations.
The total stock sales were 533. 400
shares.
New York. April 2G.-standard oil.
5.3S@5.13