The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-09
STOCK MARKET INACTIVE
Some Sharp Losses in the Higher
Priced Shares.
ApprcbensIons of Changed Condi-
tions Resulting From the New Cur
other Heavy Bank Loss Anticipate
ed - London Quotations Higher.

NEW YORK, March s.-Today's stock
market was again wanting in features of
particular significance, owing TO the fact
that the dealings were again almost wholly
for professional account. The tone of the
market in the main was heavy, with some
sharp losses appearing in the higher priced
issues. Elsewhere, however. the price
changes were exceedingly limited, and the
sagging tendency Of the market was pune
tuated by occasional recovery when the
room traders attempted TO cover contracts
previously put out. In a general way the
apprehensions Of active money market con-
ditions prior TO the beginning OF the oper-
ations of the new finance-currency meas
ure seemed 10 be the chief influence in the
market.
Another heavy loss in the banks surplus
reserve on Saturday is now virtually
suTed. owing 10 the losses made with the
course Of the week by the banks in their
operations with the Sub Treasury, but the
otherwise alarming aspects of this phase
of the situation are more or less counter
acted by the virtual certainty of heavy
Treasury disbursements under the refund
ing scheme. Apart from the conJectures
as to the immediate future OF the money
market, there was virtually nothing in the
days situation to engage attention.
London furnished a higher range OF
prices for American stocks but was mac
tive IL the local market, and financial in
terest there seemed 10 be altogether GEN.
tired in the forthcoming Treasury arrange
meDts for the prosecution OF the African
war.
There were rather noteworthy declines
scored in Metropolitan Street Railway and
Consolidated Gas the tendency of both
stocks being apparently owing to the be
lief in one instance and the certainty In
the other that there would be further large
issues of capital in connection with the an
nounced development OF the properties.
Peoples Gas was again heavy. and the
selling of the stock today was fu:thered by
Chicago advices to the effect that the only
opposition concern there was about TO in
crease its capital, which was assumed to
mean that it will hereafter compete more
vigorously for business with the consjli-
dated company.
Third Avenue was again among the ac-
tive features of the market. and the stock
again underwent rather wide fluctuations
Speculative ventures in it appeared to be
again based upon the character of the buy
ing OF the stock, which in Wall Street
parlance was called good
limitations that the purchases were for
the account Of Metropolitan Street Raj way
interests, which may be heard from time
10 time, may, however. be dismissed as alb
solutely without foundation. The net price
changes in the railway list were limited,
but a rather heavy tone prevailed there
also. ST. Paul was under some pressure
by the professional element. presumably
because they apprehended that the d-clara-
tion of the regular dividend would prove
disappointing TO the speculative holders
OF the stock. and would be followed by
liquidation for their account.