The times. [volume] (Richmond, Va.) 1890-1903, 1901-01-15
STOCK MARKET
GENERALLY WEAK
Large Amount of Speculative Liqui-
dation Accomplished.
BONDS WEAK IN SYMPATHY.
Volume OF Dealing Declined Cons'd-
BONDS WEAK IN SYMPATHY.
Volume OF Dealing Declined Cons!d'
crabIy From Late furious Activity.
Insulated Points OF Strength
Largely l;cduccd Losses.
fRr Associated rress.)

NEW YORK, Jan III ne c"' iento 80
to-dav's stock market We're eXccedlnSlE
confusing and irregular. and the contest
between speculative forces was pE no
means conclusive There was a very
large amount of speculative liquidation
accomplished, and there were perloos Oh
acute ard general weakness
Some of The recently prominent STOCKS
In the advance suffered from the mateTlai
s..tbacks On the other hand, there "eic
stocks whose strength was constant II
varying degree throughout the session
The selling movement showed symptoms
of having largely expanded itself dufllsS
the course OF the day. ana thefe "t.S
sicrl.s of renewed agGrcSSlNcncSS on the
part of the bull interests. and the market
rallied throughout the midday low ieFci;
New stocks came into leadership. anu
there were indications that the personality
of the leaders of the speculation hau UNI
.lerCone some change.
The brokers' who were the largest Still
PRS in the railroad list, were very heaNJ
BUYERS of some of the steel stocks, and X
was evident that an attempt was 10 d.
made to conduct u double campaign on
The bear side in some ralifoads AN" oii
The bull side in the steel STOCKS.
There were points OF strength chllhe
Tho day in the railroad list and amongst
.ItIite "A number of the stocks not usualiy
ronspicuolis in the trading. The Fries had
a not:4 bic recovery from carly weakness
the first preferred getting 2s above sat
lrday The Southwestern group showed
signs of strength, and St Louis SoutA-
western preferred got point ABOVE sat
rr6ay at one time. Cleveland. C1ncln-
11ati Chicago and St Louis stocks rose )
and a., respectively. for the common ana
preferred The National Salt stocks
gained . and ~, respectively, ana l~ead
,,refarred recovered - points of its recent
heavy decline American Tobacco was
~ points over Saturday at the highest
But these points OF strength We're the eN-
ceptions III the market. although 1heE
had an effect in rallying other stocks and
in largely reducing the average net losses
The market gave unmistakable evidence
Of q decline in the speculative Juror anu
a disposition to revise the Inofe Sansuliie
estimates of the high price already at
iained for many stocks and those eN-
r,S,,rod for others disappointment was
kceniy manifested among the holders OF
ST Paul over the failure OF CONFIRMATION
of the many stories of lease to Northern
Pacific row pretty thoroughly GlScrchlted
The stock was forced at one time below
10 which was is below SATURDAY. anu
closed with a net loss OF ia he other
srangers were weak. apparently in sym
pa1ily with the local traction stocks, re-
lapsed sharply after the buoyant move
1nent of Saturday, and Manhattan closed
weak at the lowest. after Il midday rally,
AT a NOT loss of 2as The PaCitiCS were
vigorously sold. but Missouri Paciilc
showed a good recovery. At one time the
me :oritH of the active stock in the list
were from / to over . points below Satur-
6ay No admissions could be secured
from international banking houses OF any
completed arrangements to snip Soiu,
INT with sterling exchange continuing 10
advance reserves of money rapidly in
creasins at this centre and continued
uneasiness over the failures IN LONDON
the conviction is general that n consldera-
BILE sum of money will go out, and that
the movement Will be inausurated on
"Wednesday There is no fear that any
scarcity OF money here viii result. but the
movement causes some inevitable disquiet
among overextended speculative interests.
The railroad bond market was weak III
sympathy with stocks. Total sales.
s., SO o,si. gar value. United States bonds
were all unchanged on the last call.
To-dayts total sales Of stocks were 1.219,-
COO shares.