The times. [volume] (Richmond, Va.) 1890-1903, 1900-01-09
II Z
STOCK DEAL lNGS
ON A SMALL / SCAE| !'|:
Prices Opened Low But Later there.
Was a Sharp Recovery
THERE WAS. GOOD ABSORPTION { N
AT the ,scccssions. Though! no Effort
Was lnadc TO. Build Up Prices.
Bond Market Was Inactive
aud the Tone Heavy.
THERE was. GOOD .ABsoRPTlON.

NEW YORK. jan S.-The volume o.
TRACING in stocks was on a small sc SaS;
and a disposition vas IJanltest "a :, a.
street TO ava; the deyeopmSnl OF ,'s;ti,.s
ness Of the market to- the innueIlee, VI
foreign events was a. ieaduis Li ..oNe1
Notwithstanding the downward couise "a
interest rates in London ana on me on on
. ,antlnt II is clear that there is need oil
fore rn observers of good authority
offer the suggestion that the l lcselit oas s
Of n, ,.,ey abroad is due TO artlIlclal causes
on governmental initiative. IN Ensianu
ii is evident that the purpose ol Inn.
manouvre is to prepare the money ihSi hs'
Vantage in Germany 1t is designed 10
strcgtben confidence ana heip out tLe
vast industrial enterprises winch nave
been undertaken there, IN any esS s o o,:S
under pressure ana 10 Sehd AMERICAN ~
curitics home TO market
The foreign exchange houses assert mat
the nresent level of discount in LONDON
leaves no margin of profit on the speclai
attraction offered by the tSank o. LIS
land on loans to be repa q In golu. nc
arriving shipments Of American So,o d Ite
the cause OF current ease in London u!s-
counts Meantime rates Tor money az M
terror points in this country are rlsins
sharply, and it is a question now IONS
The New York market could look to tnat
source 20 repienlsh a drain to the Lonoon
market In these circumstances there Is
little disposition in American hEanclal
circles to hold Up prices OF secnrlt Is
merely TO afford market lcr ioieiSA
liquidation.
in Io-day,s market opening prices We're
well down to or below the London parity,
ana SO long as arbitrage se.ilnS was IN
evidence they were allowed to remain
there or nearly so. Later IN the gay
there was a sharp recovery IN prices When
This recovery was partly due to London
itself. which bought back Few SLochS,
sold earlier in the day on General Whites
report of a repulse OF the Beers at Lady
smith.
While there was no effort to bid up
prices. there was good ABSORPTION at the
reccssions, some very heavy blocks OF
railroad stocks being taken on. New
crease Of the dividend rate without any
sale Sugar, Brooklyn Rapid Transit ana
some of the iron stocks recovered sharply
from early weakness. The demand lateI
in the day in the general list found such
a very light supply that prices hardened
steadily to about SATURDAYS closing ievel.
where they We're not entirely wiped out;
Dealings in bonds Were on a small scale.
and the tone was heavy. with WITH lew raj
lies IN sympathy ~. i 6no st1S n5sa s1eis5
bonds unchanged in price
Total sales of stocks to-day were 49, 100
shares. including Atch son preferred,
cago. Burlington and Quincy, 1855;
Louisville and Nashville, I,454: Manhat-
tan. S,o2O: New York Central. 1892; Mis-
souri, Pacific, 1850; Northern Pacific,
SOB: Pennsylvania. $50: Reading first
preferred. e&O0; ST Paul, 1895: Southern
Pacific, 80. 80: Union Pacific. 3D. SCI: do.
preferred. 1915: American Steel and Wire,
600: American Tobacco. 2!.lS0: Brook
ly11 Rapid Transit, 26. $40: Continental To-
hacco. 1860; Steel. 1890 Peoples Gas,
5s316: Sugar, 1868: Leather, $50
MONEY AND ENCHANGE.-Money on
call steady at .3M6 per cent; last loan at
:, per cent; prime mercantile paper, = per
cent Sterling exchange Irregular, With
actual business in bankers bills at S4SIas
S7La for demand and at Si.S351a for sixty
days: posted rates, Si.S4d4.S41 and
81 ssh: commercial bills. 81. S2iiS14.S 3la
Silver certificates. 5S11a @591l@; bar silver,
20: Mexican dollars 47la. Government
bonds steady: State bonds steady; rail-