The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-23
THE DEALINGS UNCERTAIN
Irregular Tendencies the Featur:: % 81
the Market.
The Grangers and Few Others
in the Railway List Among the
shares That Enjoyed Firmness-
Activity in the Industrial Quarter.

NEW YORK, March 22-The stock mar
ket had a more irregular tendency today
than it has shown at any time within the
last fortnight. Profit realizing sales upon
the opening of business were in enor-
nous volume. and while n number Of
very extensive advances We're scored in
the initial dealings the market soon show
ed the effect of the heavy liquidation.
The consequent concessions, especially
those in the specialties, We're considerable.
The general market during the forenoon
continued irregular and rather unsettled.
About midday effective buying orders ap-
peared in New York Central, Pennsylva-
MIA. and Burlington and Quincy, and the
rapid advances in these stocks served TO
check the declining tendency in the re
mander of the market.
The only circumstances OF the day TO
which it was possible to refer the uncer-
tain tendency of prices with any direct
ness were the somewhat more active
money market conditions and the general
expectations that a further reduction will
appear in surplus reserves in tomorrow
bank statement.
The London market was exceedingly
strong, with particular strength and &C
tiyity appearing in the American quarter.
local market and were heavy buyers from
the opening, their total purchases being
estimated at fully S0,Oo0 shares.
With the course of the morning, how
ever. they reversed their position, but
were still large buyers on balance. The
temporary settlement of the Anglo-Rus-
sian dispute in China was the main inilu-
ence in the London stock market.
Aside from the stocks cited, compare
lively firm features of the railway list
were the Atchison issues Denver and Rio
Grande, Illinois Central, and Lake Erie
and Western, the Southern Railways.
Louisville and Nashville, and the Wabash
issues. Although there was no special in
telligence from the anthracite coal re-
gions the stocks particularly concerned
Were generally irregular the Erie issues
being reactionary, while the Reading
stocks Were fairly steady. Delaware and
Hudson reflected particular pressure.
The granger stocks had a generally firm
tone, with the already noted sharp rise
appearing in Burlington and Quincy. The
fluctuations in these stocks, however. like
those in the remainder of the list, were
throughout the day characterized by great
irregularity.
The particular pressure appearing in
Missouri Pacific was not accounted for by
any known developments of importance.
Among the specialties, Minneapolis and
81. Louis was exceedingly strong on re-
newed reports that the road is to be
leased to the Illinois Central on a guar
anteed dividend basis.
There We're heavy dealings in the local
traction shares, where, however, the trad
ing was marked by the same uncertain
tone that prevailed in the general market.
Some of the more extensive movements
today were in the industrial quarter, ma
terial advances being scored in American
Car Foundry and in the International Pa
per shares, and, in fact, a generally firm
tendency was manifest in that quarter.
Sugar Refining was an exception. not
withstanding reports OF an advance in the
selling price for refined sugars. Among
the speciaities Amalgamated Copper was
firm and material advance was noted in
Pacific Mail.