The times. [volume] (Richmond, Va.) 1890-1903, 1900-02-11
PRICE CHANGES
INSIGNIFICANT
Continuation of Realizing Sales on the
Stock Exchange.
THE CLOSING WAS STRONG
There Was Rally in Stocks After the
appearance Of the Bank State
mcnt-Eusincss in Bonds Was
on a Fairly Large Scale.
THE CLOSING WAS STRONG

NEW YORK. Feb 1o-The movement
of prices in the Stock Exchange mad
little significance to-day. as operations
were largely confined to the closing or
contracts by the professional clement
There was a continuation OF reallzinE
sales at the opening. in spite OF Inc iran
guilty with which the latest news from
South Africa seemed TO be accepted pg
the London market. The rally IN 'he
market after the bank statement APP
peared made II evident that part OF the
selling had been for short account IN an
tic!pation of an unfavorabie statement
The rally did not mean neccSSafli! tiat
the statement was considered laHorapic,
but simply that the bears desired 10 cover
their short contracts before the Two Hoi4-
days coming pending
There was rathe acute weakness at
times in St Paul, Missouri Pacific, west
ern Union, Burlington and Sugar. Inc
movement OF prices was rather errauC;
but the net changes OF the day are smali
and mixed. with the majority on the sice
of the losses. The closing oil the mar
kct was strong at the rally on snort COY
ering. AS a matter Of fact, opinion on
the bank statement was confused ana
perpleXed. The enormous loan expansion
caused amazement In no single week
during all of last year did the loan OK
pansion reach SlG,o0o,00O. IN the week
ending February 4th. last year, loans
were increased S15,J4o, 400 due TO the
active fiotation of new industrial COM
binations then in full! force This com
parcs with ST., 10, 400 increase this week
Since January list loans hhve been in
creased $4i, 496 800. compared with an in
crease of s:,,3 800 in the corresponding
period of last year, when speculation and
company fotation was in fuN force IL
is suggested that some of the deposit &C
counts which passed from the banks 10
the newly organized trust companies our
ing the course of last year are now COM
ing back to the banks. There Is nothing
in the regular course of business or spec
uIation TO account for the recent great
extension in the loan item of the clear
inC-houSe banks. Returns OF bank clear
ings by telegraph for five days to the
Financial Chronicle show sharp faillnS
off at the four principal eastern clucS
and increases at CnlCaSo and St LOUIS
in considerab bic proportion. while at Ne"
Orleans the increase over last year rs
nearly 4G per cent. At other cues me IN
crease is over 10 per cent The increase
in the South is doubtless due largely 70
the activity in the cotton market and is
New York for funds from that section
But the clearinghouse returns only serve
to pcrpleX the blem of the phenomenal
loan expansion of New York banks.
The business in bonds has been on
fairly large scale, and The tendency OF
prices has been somewhat mixed United
States :.'s advanced Is. old is and osa IL
and new u in the bid price.
The total sales of stocks to-day were
10000 shares. including Atchison pre-
ferrcd, $3.50; St Paul, G.G2i: Union Pa
cific, 1910: American Tobacco, l3..oo:
Brooklyn Rapid Transit 1860; Federal
Steel, G,510; Sugar. 2"..131.