The times. [volume] (Richmond, Va.) 1890-1903, 1901-02-05
RAILROAD STOCKS
WERE VERY ACTIVE
The General Rise Invited Heavy Re-
alizing.
BONDS STRONG AND VERY ACTIVE
The Whole Market Was Inclined to
Eun or in Late Dealings on
Realizing and the Ciosin.
Was Rather Easy.
ny Associated Press.)

NEW YORK, Feb. 4.-The stock market
vas under the influence of the news OIL
the purchase of control Of the southern
Pacific by a syndicate in the interests OIL
Mon Pacific Notwithstanding the piain
confederation by the report on Friday OF
the rIlrnors of the deal, the spectators
were not without doubts, and the official
admissions after the market had closed
on Friday found the street IN a state OF
unpTepa-edncSS
The natural consequence WAS Il large
and excited demand for stocks at the
opening to-day. As n result OF tn" accu-
mutation of buying orders in commission
offices since last Friday. there We're wide
openings in various stocks under the eS-
cited bidding of competing brokers. They
bought l-..aN shares of Union Pacific
upon the fall of the hammer at stimuli
tancous prices of SSIS to S9A. compared
with S1M Friday night. The opening
pric6 in southern Pacific was the highest,
that stock selling at both iIla and IL on
the transfer OF 5000 shares.
The demand came from London. and the
opening price here was considerably
below the parity of that established in
London this morning Opening in Wall
Street does not lean to the conclusion
that tho sale of the road is for the benefit
of The stock which remains on the mar
het. il constitutes a minority stock OF
Il road presumably to be operated for the
best interests of Union Pacific. The pro-
feSSional spectators took active part
of the large outside demand for stocks
attracted by 1he Southern Pacific deal
In their manipulation to advance prices
one operator made a demons1rative bid
for ten thousand shares of Union Pacific
at 80. 1t was quickly supplied in a single
block. and as consequence Union Pa
cific ruled below that for the rest of the
day The completion of the Southern Pa
cific transaction caused additional cred
ence TO be given TO other similar trans
actions. 1t said that the likelihood
of further transactions Of this kind have
been increased by the fruition of this
transaction
The advance in Atchison to-day reached
:i3s. and in Rock Island 2ai, on Very large
dealings. The movement in Louisville
was apparently based the fact that il
has had no considerable rise since its
dividend has been increased. The buoy
ancy was due 10 rumors that it was to
become a part of some larger road. The
common stock advanced 22s and the pre-
ferred 5. The rise i'll the railroad list,
which was very general. invited heavy
realizing and the bull spectators turned
their attention to other quarters of the
list to sustain the market.
The most conspicuous result of this
operation MAS Shown in the local trac-
lions Brooklyn Transit and Manhattan
rising 31s each and Metropolitan 2ta.
There was Il period of activity and
strength in the interests, which shifted
them from / 10 So -AImors that th.tat-
cned conflict in the steel trade had been
arerted by agreement helped the move
mcnt The whole market was Inclined to
run off in III late dealings on realizing
and the closing Was rather easy The
inraadS upon the money market shown
by last weeks enormous loan expansion
result OF the heavy financial opera
tons gives some weight to expectation OF
futures developments in the money
market.
Sterling exchange continued to advance
notwithstanding an easier money market
in London and the possibility of gold .ex-
ports this week is still considered.
The railroad bond market was strong
and slightly more active than on Friday
Total sales par value. S1.31000o. United
States bonds were all unchanged on the
last call.
To-day's total stock sales were 1,413,5oO
shares.
MONEY AND ENCHANGE.-Money on
call steady at 1ai@2 per cent: prime mer-
camille paper. iG4 per cent; sterling eX-
change firm, with actual business in
bankers bills at S4.SSA for demand and
at Si-S4ai for sixty days; posted rates
Si.S5d+.S5 and S4.S9; commercial bills
S4S.Gi Sill. Silver certificates, G2GG:;:
i.