The times. [volume] (Richmond, Va.) 1890-1903, 1900-02-07
STOCK MARKET
WAS STRONG.
A Large Outside Interest Was Mari
fest in the Dealings.
CLOSE WAS ACTIVE AND STRONG.
With Prices About Mt the Top Level
Eeacicd-Bond Market Showed
Increased Activity and Gene
raj Strength.

NEW YORK. Feb. 6.-Thc stock mnr-
ket retained its general characteristics
to-day OF strength and breadth. A large
OUTSIDE interest was manifest, and the
professional operators who bought at the
lower level We're busy In bidding up the
prices OF their holdings and in feeding
the new demand to take their profits;
oct while selling stocks from the one
hand 10 realize on the rise they were
mixing on new holdings of different stocks
with the other. Apparently the con1i-
dencc that stocks which have not yet
shared in the advance could be induced
10 move upward was unimpaired and the
holdings Of the large financial interests
which have taken hold of the market
We're broadencd and extended.
The duration of this kind of upWnrd
movement does not always depend strict
1y on the continuance of the public de-
mand for stocks. There is a constant pro-
cess Of unloading by compact and we'll
organized financial interests into the
hands of SCARED and unsklled specuia-
tors, who have not the same experience
nnd adroitness in protecting their hold
ings nor the sameresources for maintain
Ing them. The progress. of a bull move
lnent almost inevitably results in the
transfer OF holdings from strong 10 weak
hands, and leaves the market Vulnerable
to attack by bear operators who are
able TO force selling by offering down
prices md uncoVerinG margins. Even To-
day attempts by bear operators were IN
evidence TO force declines. but the general
demand for stocks continued so good ana
the large holdings are still in such strong
hands that the market resisted bear as
saults and presented hard and unSleio-
ing surfIce. even at points Where redi%-
ing was going on
Yesterdays strength in National Steel
gave way to realizing to-day. and the
metal group was without Conspicuous
leadership. Norfolk and Western was
also sold to take profits all day. 2fter an
opening rise of point, but refused to
yield below last nights level tennessee
Coal was forced down at one Tune %
points. The bears centered their attack
on Sugar. and had that stock down at one
time to 10S1h.
Rumors that the refinerieS were to shut
down and overproduction TO be worked
off Ut a loss figured in the manipulation.
But in the meantime aggressive buying
movements developed in the trunk lines,
led by Pennsylvania. in the coalers led by
Reading first preferred, on the decision
10 pay a dividend. and in the grangers
and westerns LED by ST. Paul and Atchi-
baltimore and Ohios also. after pnuse
of a day TO digest profit-taking, renewed
the advance. The progress towards the
extension of holdings by the great rail
road systems of lesser competing sys-
TENS had much to do with the strength
of Pennsylvania and other lines supposed
to be in progress of absorption.
The coming advance in the tidewater
freight rates on bituminouS coal was also
a feature. There was an advance to 5io
in the price of Standard Oil on the
declaration of dividend of 20 per cent.
for the quarterly period. Last years div
idends were 6, J.. 5 and 10 per cent. re-
spectively. for the four quarters. There
was also activity and strength in Anal
gamated Copper. The close Of the market
was active and strong at about the top
The bond market showed increased ac-
tivity nnd general strength Total sales,
par value, 3.615. 900 shares. United
States 3's advanced Is.
The total sales of stocks to-day were
S97 100 shares, including Atchison. 1858:
do. preferred, 17,750; Baltimore and Ohio.
81, $50: Burlington and Quincy, 1850:
Rock Island. 1850: Louisville and Nash
VILE, $3.50; Manhattan, 1I.190; Missouri
Pucitic. 1920: New York Central, 10,6l7;
Norfolk and Western, G0.IS0: do. pre-
ferred. 1.115: Northern Pacific. 10.92o;
vania 53.140; Reading first preferred, T.
80: st. Paul. 1880: Southern Pacific. o.
$50; SoSuthern railway preferred, $3.50;
Union Pacific. $3.50; Union Pacific pre-
ferred, 2,9G5: American Steel Hoop, 400;
American Steel and Wire, 1860: Ameri-
can Tin Plate, S, 10: American Tobacco,
1870: Anaconda. 3. 1856: Brooklyn Rapid
Transit, ~ $50: Colorado FuelN and Iron,
1900; Continental Tobacco. $50; Federal
Steel, 141!0: National Steel. @2.500; Feo-
pies Gas, 9.i25; Sugar. 14o.S55: Leather,
$3.50: Republic Iron and Steel. $3.50.
MONEY AND EXCHANGE-Money on
call easy at 2G21@ per cent; last loan at
1,pr cent prjmc mercantile naner Ana