The times. [volume] (Richmond, Va.) 1890-1903, 1900-09-01
STOCK MARKET
WAS LlTHARGlC
Except for Active Selling of Sugar
and Peoples Gas.
OPENING GAINS WIPED OUT.
At the Close here Was Sufficient De-
mand from the Short Interest to
stiffes, the Price Of some of
the Railroad Stocks.
OPENING GAINS WIPED OUT.
{By Associated Press ,

NEW YORK, Aug. 31.-Except for some
rather active selling in to-day's stock
market of Sugar and Peoples Gas, there
was not a particle of animation The
sympathetic effect OF the weakness of
These Two specialties wiped out the slight
opening gains in some of the international
I'iliroad stocks. Again. at the close, there
WAS sdIlclent demand from the short IN
s tsieSt. which was aSerSe 10 leaving con-
tracts uncovered over the tllree-dayS'
mondays to stiffen the prices of some OF
cue raiFoads, but The general tone was
pies Gas
Among those TO show notable frmness
We're Southern Pacific. New York Central
anu baltimore and Ohio The weakness
u Feopte.s Gas gave q striking illustra-
aoh OF the lack of consistency in the
lRinoS OF professional operators. The
other day this stock advanced on the re-
port that q newly-organiZed company in
s Siaacago was to control the interests
friendly TO Peoples Gas. The profess
slonal intelligence by to-day had arrived
at the conclusion that the formation of
TINS friendly company must be the signal
the rival of the Peoples Gas. The stock
was accordingly sold industriously at an
expense of 2l4 in its price.
The movement in Sugar was about
equally independent of the news of the
day, and was apparently due to realizing
on the advance in the refined product,
which was made yesterday The part
taken by the professional clement was
based on a scrutiny of the source of the
orders in the stock, and when the traders
thought they could trace selling orders to
inside sources they trailed along and
sold
The Tobacco and Brooklyn Transit
stocks Were weak during the morning. but
partly recovered later in the day. Chi
cago Terminal preferred lost "a, Union
Bag preferred rs and National Steel pre-
Il
on light transactions when the announce
ment was made Of a declaration OF a
quarterly dividend of per cent. on the
stock, thus restoring the rate prevailing
before the recent local gas war. Penn
Sylyania suffered somewhat from the eff
Iect of its statement of earnings for July.
The increase in net earnings on the lines
east of Pittsburg and Erie directly ope-
rated being practically offset by the de-
crease on the lines west of these points
directly operated.
The St. Paul and Omaha. also returned
q large decrease in gross earnings Tor
July. The Chesapeake and Ohio showed
a handsome net increase in earnings for
July as all of the coal roads have done.
As the active demand for coal IS fac-
tor IN keeping up operating expenses OF
railroads generally, other railroads uid
not respond.
Money market conditions, consisting of
an easing of the London discount rate
and the promise of a strong bank state
ment tomorrow. We're ignored.
The bond market was barren of Incl
dent Total sales, par value, $3.50, ooo
United States Old As declined Il in the
bid price. .ooo
Total sales of stocks to-day We're 600
shares.
MONEY AND ENCHaNGE.-Mone on
call steady at 11iGi1l2 per cent; prime
mercantile paper, 4a4la per cent. Ster-
ling exchange steady, with actual bust
ness in bankers bills at S4si2s 1or uez
rates. 81 S5Gsi. ST.; commercial DIS
$. S3i,m4. S4 Bar silver, 6f.s: silver Ger
tificates, 61l4@62s4; Mexican dollars asa.
Government bonds weak; state bonus III
active; railroad bonds Irregular