The times. [volume] (Richmond, Va.) 1890-1903, 1901-10-05
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DAY BY DAY
Stock Quotations Show Daily Recess
,sions Of Fractions.
MONEY MARKET STILL FIRM,
Good Bank Statement Expected for To-day.
Liquidation Cause Of Markets Weakness.
Industrial Securities ID Bad Repute.
Stock Tips-Produce GOSSIP.
MONEY MARKET STILL FIRM
Industrial securities showed further de-

Industrial securities showed further de-
crease in the stock market yesterday, and
Spectators are now wondering if the bot
tom will ever be reached Financial
writer's and Wall. Street brokers are be-
ginning to claim that the majority OF
stocks are now buy at prevailing prices,
at least for a rally OF two or three points
within the next few days.
No very good reason is given for any
expected upward tendency, save an APP
parent opinion that in view Of the fact
that Wall Street never allows stocks to
remain at a set figure, there is more like
lhood of u rise than of a fall from the
present low prices.
The money market has a firm tone
rates generally running about tour and
one-half per cent. Lor three, four and
six months loans on all Dividend paying
railroad stocks and bonds; five per cent.
for three, four and six months on thirty
five per cent. industrial and siXty-five per
cent. railroad, and five and one-half per
cent. on the regular run of industriaIs.
The commercial paper market seems to be
steady at five ana six pee cent. for all
dates.
BANK STATEMENT.
"A 1dEOfdDle Ddnh Is eNpeclett
for to-day. The gain from the sub-treas-
ury, it is alleged, exceeds 100000, while
exports to the interior to handle crops
have not been particularly heavy. The
loan account is also expected to show
a decrease. Liquidation it is still claimed,
is one Of the causes of the present weak
ness of the stock market.
For q. short while yesterday operators
who had sod stocks short and were tax
ing advantage OF the low prices to cover,
gave a. slight rally to the. market within
a fractional margin, but the gains IN
some quarters were about offset by
losses in others. The railroad list, it is
alleged, continues to suffer from liquida-
ton of the industrial stocks. holders Of
which have been forced to throw strong
dividend securities upon the market IN
order to prepare themselves to meet loss
es on industrial stocks.
LONDON MARKET.
The London stock market continues to
be exceedingly dull and weak, and this
lack of support has a decided depressing
influence upon Wall Street 1t is consid-
cred more than probable that soon as
the present unsettled condition. due to
bad reports from industrial institutions.
shall have spent its force that more
publish spirit will take control of the high
class railroad securities, which are now
selling at Bargain counter prices, and that
the market will assume a more healthy
condition than has been seen for some
time past.
DAMAGE OF SECRECY.
The failure OF many of the industrial
institutions to give out any information
of value regarding their workings or ii
nancial condition until forced to do 50
through an inability to declare regular
dividends, is rapidly causing investors to
become wary of this style of stocks, even
though they offer many allurements in
the shape of prospects of large dividends
The market on railroad stocks is believed
to be a purchase at present quotations.
- the showing of the majority of the
railroad companies for the past SIX
months has been very favorable.
The controller of currency has issued =
call for a statement of the national banks
at the close OF September 3Oth
It is alleged that nearly all of the Brit
ish tobacco manufacturers have formed
a combination to fight American compe-
titon.
The Atlantic Coast Line reports for Au-
gust show a surplus above taxes OF $50
2S5, or an increase of S1S,14l.
F.x-dividends yesterday We're American
Locomotive preferred. one and three
quarters, and Virginia Carolina Chemi-
cal preferred, two per cent
TIP.
A New York stock broker yesterday
sent out the following tip:
This market looks to me like as If 1t
WAS oversold, and I believe purchases OF
good railway stocks on scale down from
present figures will prove profitable.
like Louisville and Nashville. Southern
Railway, Norfolk and Western, Chesa-
oeake and Ohio Southern Pacific, Erie