The times. [volume] (Richmond, Va.) 1890-1903, 1900-01-11
STOCK Mar ! |.
dull And NARROW
Except Stock Of American Sugar Re-;
iiiniing Company.
FOREIGN MARKETS WERE FIRM.
Dulncss is attributed to Fears Of I'm
favorable News from South Africa.
Bonds wc1c Also Dull in Sym
patty With Sto c ks

NEW YORK, Jan. l0.-Tllei stock mar
ket was dul, and narrow to-day, except
for the sensational developments aitect-}
ing the stock of the American Sugar sRe-{
: lining Company. Previous to the assem-
: bling OF the stockholders meeting lheie
was considerable Oh i ~, aen,,ici ,n,,
this stock. because of a genera colls1etsoii
that the suSar-trades warahaS mort " q
shadow than substance IN IL
The declaration contained IN me piea,c
dents annual report rather LOOK away
Mall streets breath and caused "a 1esi
that the dividends on the stock may DC
suspended. The stock. decnned raplois,
the price varying as much as ~ oe.Mee ~
sales The first drop took the stock 10
In, when il steadied and rallied above
l23 1t fell again to l113i, bringing Out
heavy stop-loss orders on the way GOWN ars, u,
rallied to near 122, reacted ., ana again
rallied in the final dealings
The large and persistent OUTSTANDING
short interest IN the stock served as a
recuperaiive force by buying TO cover
contracts. All the prominent industrlals
were quite sharply affected in sympathy,
the bears Selling the opportunity 10 of1er
prices down and uncover Saop-a ,tscted AZ z
though the earlier gains were mOSuS
wiped out. There was good buying IN the
railroads at the decline, led by the tsaiti-
more and Ohio stocks. Oh the company
strong statement of December earnings
The general relaxation in money rates
all over the world had induced a convic-
u liOn OfiiClll OlSCouflL Laws, ooIii -
the Bank of England and the Imperial
Bank of Germany, will be reduced to-
morrow, and board-room traders We're
inclined to buy stocks in anticipation OIL a
foreign demand on this account
Stocks were generally 1irm to-day IN
foreign markets on account Of the easier
money rates. But il is very clear that the
money market owes its abundance and
ease to the thorough liquidation OF specu-
lative accounts, which has been effected
all over the world in the last few weeks,
{ and to the lack of renewed Specuiatlon;
Spectators are apparently still disinclined
TO take on stocks, and to-daySa market
was but a narrow affair, even taking into
account the violent price movement Of
some of the specialdeS. The prevailing
illncss is attributed by traders to fears
OF unfavorable news from South, Africa,
but it is not improbable that the existing
conditions there, as we'll as in. the imam
cial world, have been accurately discount
cd in the speculative markets. New de-
SeIopments are awaited TO warrant new.
adjustment Of values.
The bond market was dull. and moved
in sympathy with railroad stocks. Total
sales. par value, S1.025.0o9. United States
l's.1new, and is registered declined Is in
the bid price.
The total sales of stocks were $4,000
shares. including Atchison preferred, TO-
OBS: Baltimore and Ohio. .10,91s; Chesa-
pcake and Ohio. 5000; Chicago. Burling-
ION and Quincy, 1920: Rock Island,
1910: Louisville and Nashville, 6,6s2:
Manhattan, :;.O75; Missouri Pacific, $500:
New York Central, 13,OSo: Norfolk and
Western. 100; Northern PACIFIC. 10000;
Reading first preferred, 1900: Southern
Pacific. 1885: Union Pacific, $50;
American Steel and Wire. 1850; EA1neri-
can Tobacco. $3.50; Brooklyn Rapid
Transit. 44,56G; Continental Tobacco,
$50; Federal Steel. 1890: Mail, 7.41o;
Gas, $50; Sugar, 1880: Leather, 8, sos.
MONEY AND ExcHANGE.--Money on
call steady at 47AG5 per cent; last loan
at az per cent: prime mercantile paper,
jisd6 per cent Sterling exchange easier,
with actual business In bankers bills at
G.S7G4. sta for demand and at $4.S31EsU
4S3a4 for sixty days: posted rates. 81. S41s
and si.SSlS; commercial bills. S4.S2!AGd.S3.
Silver certificates. 5S1a@59k; bar silver, IS
fd5S5S: Mexican dollars. 4114. Government
hnnds weak: Stale bonds inactive: rail