The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1901-03-22
Ttnanrta1.
THE STOCK MARK EI.

New York March 21.-The heavy SELL
| ing by spectators to realize which car
rled the whole market down yesterday
was checked to-day, and there were
general recoveries and showing of net
gains for the day in a majority of cases.
There was continued pressure on the
market at the opening of business and
it was emphasized by the depression In
the London market on account of un-
fears of harder money there. But there
was renewed buying of some stocks
conducted with such confidence as to
discourage the selling, and the subse-
quent rally was helped by the de-
mand from quite an extended short in
terest left uncovered after yesterdays
operations for the decline The specu-
lative leaders were very active in their
efforts to cause a resumption in the
strong bull market which has recently
prevailed. They were only partly sue
cessful, although they had the assist.
ance of report late in the session that
settled. A number Of stocks were fairly
buoyant during the day, and others
were markedly strong, but the advances
We're not all we'll held and there were
frequent reactions after the recovery
had set in. Burlington was In demand
from the shorts and there was COM
bined upward movement at one time in
the grangers, Pacifics and southwest
erns. Heavy realizing met this advance
and difficulty was encountered especial
ly in the case Of Missouri Pacific in the
upward course. The Fries were the
conspicuous feature of the later market
and were lifted from az to points, the
latter the second prefessed, on enormous
buying. The reports Of early dividend
action recently current were all reviv-
ed. The Wabash securities were In
good demand the preferred rising 1M
over last night. The movement in the
Fries helped all the coalers. Sugar shot
up 31a points and Peoples Gas and To-
bacco had their periods of strength The
international paper stocks were very
strong rising 2A and ~ for the COM
mon and preferred. National Salt gain
u.
quite long list of minor railroad
railroad stocks, which moved up from
/ to 45s, including Chicago Great West
ern and the preferred A, the Chicago,
indianapolis and Louisville stocks, the
Iowa Central stocks. the Minneapolis
and ST Louis stocks, Lake Erie and
Western, Peoria and Eastern and the
stocks. New York Chicago and st.
Louis stocks North American adyanc-
ed 81 over last night. Amalgamated
Copper was strong on the regular divi-
dend declaration. The steel stocks were
decidedly quiet and moved narrowly.
but recovered to some extent from ear
ly heaviness. Notwithstanding this
quite impressive showing Of strength,
there was no renewal OF the universal
upward movement which affected the !
whole market at times during the last
few days. The weakness Of Brooklyn !
Transit had somewhat unsettling eff |
feet and American Snuff preferred |
broke Az. That there is some latent
over the money outlook Is
shown by the eager discussion of the
that the secretary of the
u Canuly VIII IeueGIH government |
bonds and thus benefit the money
market. The excess of government re-
,eipts over expenditures thus far this
month is only about half that for the
period of last year. But
t was not until after March IA that
he heavy disbursements on account of
premiums on refunded bonds began last
rear, and it is beginning to be perceived
hat the money market will keenly feel
he lack of some such source of replen-
shment this year. The possibility of
var between European nations draws
Lttention to the international exchange
ituation, To-day discount rates hard
ned in London again and sterling ex-
hange here rose to a higher level while
all loan rates ruled from 21s to 8 per
emit
The railroad bond market continues
cry active, many new issues coming
nto prominence to-day. The price
novement was irregular. Total sales
ar value IS, 255, 900.
United States refunding rs advano-
d u and the olds declined "a per cent
II the last call.
NEW FORK sTOCK MARKEr Ii
pcning. Highest, Lowest Quotation
n the New York Stock Exchange, reported
by Prince & Whitley, Brokers, Is Center
street, New Haven.