The times. [volume] (Richmond, Va.) 1890-1903, 1901-11-19
LOCO MOTIVE WAS
AGAIN A FEATURE
The Stocks Took Big Jump in
Yesterdays Market.
BUT THE MARKET WAS WEAK
Because OF Large Gold Exports and a
Report That the Goyeruo. OF hiiuue
sofa Would Fight the Northern
Pacific Deal.

nlcnt was more or less impaired by the
heayy engagements of gold for export.
amounting to something like 81, coo,
and again by the announcement of the
Governor of Minnesota that he would do
cveryt::in; in his power. to prevent the
consolidation of the Northern Pacific and
the Great Northern Railroads, even
though he should have to call tho leSis-
lathrc together ir- extra session AID
tho market ruled weak during the great
err part of the session, with the eXcep-
ton of a. few specaltes.
LOCOMOTIVE BOOMS.
One of these was American Locomotive,
which seemed to have gotten up steam
in good earnest, the common selling at
SO IA. and the preferred at 81. In con-
nection with the advance in Locomotive,
the New York News printed the follow
Ing:
insiders are bullish on American Lo-
connective. The owners of one of the most
importan works in the combination were
. paid in cash for their plant, but were
given the option of taking an equal
amount Of common and preferred at a
price equal to IS FOR the former. and So in
the latter After consideration. they de-
cided tc accept this, aud would
have taken more at the same rate.
hit could not get it. They find
that in the worst of times. with
severe ccme titionp, they could make
a profit of $1,000 on every locomotive. and
in view of the fact that the new combin-
alton started with capacity of LOO To-
comotives year. this. even at that fig
ure, would mean sl.7aO,o0o. which would
ray the preferred dividend. The company.
however, is full up with orders for twelve
months ahead. which show profits Of
$1,000 to $500 per locomotive
Another one of the specialties was Lake
Il II
at fancy prices IT is believed that this
stock is being acquired by the New York
Central. with a view to the mueh-taiked-
of consolidation OF all the Vanderbilt in
terests.
GOVERNMENT TO THE, RESCUE,
Later in the day it was announced
that as agairst the gold engaged for
shipment by to-days steamers, the
banks siuce last Friday have gained
from, the sub-treasury approximately
s5.45IS9t. Counting In yesterdays trans
actions. of this amout s2,5po.000 had been
gained by the banks UP to the close OF
business en- Saturday. and S,34s,5oo rep
resents government bonds sold YESTERDAY
to the sub-treasury 1t is further said
that the bond sales for the government
this week will be between 100000 and
s6o0o.00o
The announcement of these large bond
pu, chases hae a stimulating effect, and
the market was stronger toward the
close.
Union Pacific and ST Paul were weak
on the news that the Governor of Min
nesota would sght he Northern Pacific
deal. although it is hard to see how any
thing that the Minnesota legislature.
may do can unset this agreement. which
has been nade outside of the State of
Minnesota. and under a New Jersey char
ter. The LegisIa t,ire of Minnesota lEaY
prevent the roads from consolidating, but
it cannot prevent them from being oper-
ated tremendously by an outside corpor-
alton which has acquired controlling In
terest in each road.
THE NATIONS STRENGTH.
AS for the gold exports. prominent
fiuarcier in Richmond said yesterday
that in his oiniorn these Shipments we're
being made under an agreement between
largo banking interests in this country
and those .bre ad to prevent the foreign
crs from sending tack large blocks OF
stock which they owned in American Ger
porations It Seems to him an evidence OF
strength. and shows that we are simply
contributing out of our abundance to help
the foreigners out OF their financial
troubles.
ever beftrc. and willis some stocks are
high, others are certainly low. ana 4
"a. prosperity contlnu> s there must come
sooner or later arcther boom III the stock
market Even Russell Sage, OF New
York. who is very conservative, Is now
one OF the .lrnrst believers in higher
prices. The New York Times quotes him
as follows:
II lool: for much higher market values
in the near future for the reason that the
largest Interests are behind the market
because they believe in 1t
1.-The CT untrv is so wonderfully pros
porous and earnings in every branch and
DEPARTMENT are SO phenomenal thai IL Is
only natural that they should be re-
fected in higher prices in the Stock E.-
change.
I'VE have not discounted the greatness
and the glory OF this country--hot oF d
good deal"
Among the transactions recorded from
New York yesterday was a sale OF So
COO S. A. L. 5 per cent bonds at loi as
and interest.
The Produce Market
Somebody out in Chicago has chased
all the eggs into a corner and is keeping
them there. Those which have been
around in this T~ighhorhood are grad
ing un ami TIP. they sold easily SeSter-
day in or: ties for ~ cents per dozen y
lot in barrels and boxes Went at u cents.
REGENTS OF same are i,Sn. ana nd the rs,, Gs
at is to IS cents: small ones bring 10 to
121s cents; partridses. ]. to !? cents:
pheasants. l.. to 80 cents: SQUIRRELS. .
cents; whole deer. 0 cents per pound:
saddles. IS to Is cents per pound: wild
turkeys cents per pound
Live stock sells as follows: Veals. IS to
s1I per mead: ambs. 3is@to its cents per
pound: sheep, "a to cents: cattle. :, to
5:h cents; hogs. 51a to 6 cents.
Good apples are in active demand. The
fancy article sells in straight lots IT 81 per
ba-rel: in smaller quantities. S. to $50 is
the. usual price. Ordinary apples are SELL
ing from s. up.
Fancy cabbages are worth s1.75 per bar
rel. ,.an 20