The times. [volume] (Richmond, Va.) 1890-1903, 1901-12-14
A lit RALLY
in STOCK MARKET
Money Was Easier During the Late
Trading
AND Pr ICES WENT UP.
The Gains We're Not All Held, ba. the
Close Was firm-Anxiety as
to the Bank sta,e-
msnt.
AND PRICES WENT UP.

The market Tor American STOCKS IN
London opened firm yesterday with Union
E Pacific as the feature, but there was lit
tie disposition in the New York market
to respond, although the opening here
was higher than closing prices the day
before. There was very little in the sit
uation to give the bulls encouragement,
and prices again began to sag. Money
ruled during the greater part of the scs-
sion at Spcr cent, and it was given oat
that the known movements OF money
from, last Friday up to the close of bust
ness on Thursday indicated Il loss by the
banks CT SG,2i6, 27S. 1t Is apparent from
this that unless the banks have material
ly decreased their loans during the week,
the surplus fund will be practically wiped
out.
a RALLY.
In the afternoon trading it was given
out that this had been done, and that
the bank statement would be more ia
vUrable than 1t had been expected.
The money rate dropped from to 6 per
cert, and, later, to 8 per cent Coincl-
dent with this, there was Il substantial
rally in many stocks, notably in ST. Paul
and Southern preferred. Southern pre-
ferred has behaved admirably during
these hard times in the stock market, and
it is now freely predicted that that stock
will te put upon II per cent. basis next
spring. The rally was doubtless due TO
covering by shorts, and was not 1ully
maintained, although the closing was firm
at a fraction under the best prices Of the
day. AS one broker expressed 1t. the
market was sold down to q standstiil.
and with cheaper money 1t was natural
that the shorts should run to cover.
SOME OPINIONS.
A Richmond broker, who is now In New
York, teleGraphed this message to MS
house yesterday: II don't think the
money situation quite clear yet. But
any one who buys tho good stocks on d
scale down on weak spots will see good
profit by the 10th of January
A New York broker, whose opinion is
very highly regarded here, sent the fol-
lowing to a. Richmond house: You can
bug Louisville and Nashville and South
ern Railway preferred on scale without
fear There are fifteen points advance
before five points decline In each of them
barring some unforeseen accident.
A Richmond man remarked yesterday
that christmas cheer In many house
hold in this city would be more or less
married by the fact that the Christmas
turkey is stuffed with L. and NJ It is
to be hoped that all who are thus affect
cd will take comfort in the prophecy of
this New York. broker.
Chesapeakc and Ohio earnings for the
fourth week in December showed a de-
crease of $1O,S59. Norfolk and Western
was nearly a point higher yesterday. 1t
was given out that this company had or
dered 1850 cars and will order 1000 more
to accommodate its heavy business.
Earnings Of ST. Louis and San Francisco
for the first week In December increased
S4S956.
Application has beer received by the
committee on stock list o. the New. I ork
Stock Exchange to list S15,9S4, 400 addi-
tional common stock of the NlrSiaia-Car-
DINA Chemical Company.
AMERICAN LOCOMOTIVE.
The New York Sun prints the follow
ing:
president Galloway of American Lo-
comotive who has just returned from
Richmond Va. where he inspected the
plant of the company, says: The pros
pects as well as the present state, IS
very gratifying. Already we have or
ders in hand to keep us busy all OF next
wear. The condition of locomotive bust
ness. as rejecting the railroad business
of the country, indicates that the present
high state of prosperity is to continue
next year. at least
The Richmond broker who had the
cold shiyers because FRIDAY fei, Oh the
18th day of the month. is feeling better
to-day. He has had plenty of company.
IT is believed that if the bank statement
to-day is more favorable than has been
predicted. the market will have sub
stantial rally.
The Produce Market.
An active market in poultry is expected
during the latter part of next week 'th.i
the first one or two days of the week tnl-
| lowing Especially on Monday and Tues
| day before Christmas will turkeys b. IN
demand. Merchants are advising shippers
to have their goods Of this kind mere
certainly not later than Tuesday mo, n
/ ing. Dressed and drawn turkeys sid
yesterday at 1919 to 11Mc Cents per
pound: undrawn to 10 cents. Live
turkeys are worth S cents per pound.
Chickens are still selling for IL TO Il
cents per pound. Ducks are worth ~ to
Is cents: geese, S to cents, and hers,
S to 9 cents.
Receipts in eggs are about equal to the
demand lust now, and the market IN TINS
line is inclined to be somewhat weaker.
| Legs sold yesterday at % to n cents per
| dozen.
Onions are high at $3.50 per barrel.
Cabbage are selling a SO to SIS per
| ton or 2E to cents per head.
The Florida oranges coming in now are
| of 4 decidedly better quality than those
| first received, and they are selling well.
| The price ranges between $50 and So per
! barrel. The receipts are light.
The price Of game does not change.
| Rabbits are worth IL to IL cents each;
| cartridges 10 to 121G cents; pheasants,
81 to so cents; wild turkeys. Q to 10 cents
! ner mound; whole deer. . cents per pound;
| saddles, IS to II cents per pound
1