Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-02-16
REVIEW OF MARKETS
FINANCIAL And COMMERCIAL
Stocks, Money, Exchange, Bonds, Grain,
Cotton, Provisions, Etc.

New York, Feb. 15.-rhe movement
of prices in the stock market to-day re-
Elected very clearly the doubtful and
conflicting speculative opinion over the
outlook for prices. The opinion reflect
ed was almost wholly that of profess
sional operators in stocks. as they were
the only ones who took any notable part
In the trading. The general public per-
sisted In Keeping out OF the spot mar
ket, and this continued Indifference had
not u little to do with doubts of the
professional SPECTATORS some of whom
sold stocks before the close of the day,
prompted by their disappointment over
the failure of any general demand for
stocks to develop.
a number OF factors contributed to
an early advance In prices. The initial
Impulse came from the London market.
where prices advanced on the cheerful
feeling engendcred by the forward move
OF British troops in South Africa. Lon
don WAS a buyer here on the opening,
but tho demand from that sourcr was
satisfied with the taking Of twenty-five
thousand to thirty thousand shares.
The iron und steel group advanced
In sympathy in the morning under the
active bidding up Of professional trad
ers. a. S. * w. rising TO within frac-
ton of GO. Tennessee Coal rose an eX
treme az. The impulse Of these stocks
NoihS IL Oilt VIC lIGSsitloIlS III
"a pending lawsuit of notoriety regard
ing the enormous profits of the steel
trade Tor the past year. and assertions
of the likelihood of still larger returns
for the current year
The strength In Sugar was based up
OH rather vague rumorS of coming adj
vance In the price of the product and
resumption of operation by rctineries
recently closed down. But the strength
from these causes was not we'll MAIN
tained In the face of the apathy of the
demand, and the notable weakness in
some special stocks.
a break OF 6& in Third Avenue was
due to the announcement by Il banking
house of It's withdrawal OF Il proposed
loan TO this company This caused
sharp sympathetic declines in the other
local traction stocks, the iron and steel
stocks and Sugar, and, in fact, unset
tied the whole list.
Railroad stocks lost their carly gains,
but became dull and notably firm near
to last nights level of prices. All re-
ports continue to reflect 4 high level OF
prosperous business activity and an UNI
preccdented level OF railroad earnings
But this very activity in business
nrouses the question whether the pros
porous use of money thus involved is
not likely to dcpete the supply Of funds
available for speculative purposes. No
better explanation has been found Of
last weeks enormous loan expansion
than the demand for mercantile uses,
which is known 10 be on II very large
scale.
Taking into account the recent ten
dency towards large expansion OF loans,
a further large inroad upon surplus re-
serves is regarded as inevitable in the
coming bank statement.
Business III bonds continued on 4
fairly large scale, and price changes
were Irregular.
Total sales, par value, s2.135, 900.
United states bonds were unchanS
cd In bid price.
The total sales OF stocks were leG.7oO
shares.
New York, Feb. 15.-standard oil, $40
0o22. y