The times. [volume] (Richmond, Va.) 1890-1903, 1900-01-17
SNAIL DEALINGS
ON STOCK MARKET
Conditions Yesterday Approached
State Of Stagnation.
MONEY CONTINUES TO BE. EASY.
Dnlness Was shared by Other Great
Speculative Centres afthc World.
Bonds We're More Active
Than Stocks.

MEN YORK, Jan. i6.-Professionai
operations III stocks fell away consi!dera-
bly, to-day, and as there is no other inter
est in the market the dealings Inaos
further progress toward u condition OF
aiasHation. There WIS SEINE slight specu,
lation in Sugar. Tobacco and the socii
fractions. but these represented ii,tie
more than Swapping jack-kniSeS among
The baard-rocrl traders, as may be lnaESea
from the days small vet changes hese
speculative favoritcs are hishef on we
day after various fluctuations. IHere Is
no better explanation of their having gone
III, than that they went down yesterday
There was evidence of i desire on me me
part of the shorts to cover IN Iopacco'
which pulled il up sharply IN the tate
dealings and the rest Of the market Mill
it. II was emphatca!lS Il waiting market,
and ii was by no means clear what II vas
waiting for. The fact 1hat 1he ounSSs
was shared by the other great speculative
centres of the world gives point 10 Inc
srppos.;ion that the developments of CON
aliions in South Africa Is what IS
awaited.
Money conditions continue to make pro
sress towards greater ease all oyer the
world. without the slightest elect on
speculation. a period OF sta2naflon alter
SO drastic liquidation as that of last
month is by no means unique or abnof-
mai. without counting the south African
question II is very generally beleEed
that a British success there would cause
sharp rally in prices. II Tor no other
reason than from the covering made by
+ Inc bears who have sold the 1naTkes7 IN
a spirit of skcpticiSm over amy cary
change in the situation. II would be
necessary 10 so back Two years to the
lime Of upcerta'nty preceding the var
with Spain TO find a parallel for the abso-
lutte lisslessness or patient waiting which
are the characteristics of the current
stock market.
Rates for time money were shaded pc
low ) per cent. on choice collateral under
the influence of the large accumulation
Ct reserves which is coming into the New
York banks.
Dealings in bonds We're on larger
scale than those IN stocks. and prices
were more firmly held. Occasional large
individual transactions reflect the con-
1inued flow OF capital into liked invest
ments. Total sales. par value Sl,IO.'.Uto
United States IS advanced 4 and old Is
i N the bid price.
The total sales of STOCKS to-day We're
1875 800 shares. including Manhattan. 9.6S'
metropolitan. SEQ: New York Central
5.2Go: Southern Pacific; S.:WS: Southern
railway. !.9Gg; American steel and Wire
200: American Tobacco, 2G. So; Brook
Ism Rapid Transit. .o,2G2: Sugar 235,.'io
MONEY. AND ENCHANG E.-Money on
c;ril steady at :g1la per cent: last loan
at :; per cent: r1itne 1nercantlte paper,
sac per cent Sterling exchange firm.
with actual business in bankers hAls at
81 STG4 S71i for demand and at S4.S;il
4 S,at for sixty days posted rates. 81 lI
A. IiI and SlS7sI4.SS: commercial bills,
81 SoI4 Sd Silver certificates, 33mGO: bar
silver J9l1: Mexican dollars a.. Gov
,stn,uerlt bonds strong: State bonds
S:ea6y: railroad bonds firm.