The times. [volume] (Richmond, Va.) 1890-1903, 1901-02-15
THE NET CHANGES
MOSTLY SMALL
General Decline of Prices Followed
by Recovery.
THE GAINS PREDOMINANT.
The Tone OF the Market Mt the Close
Was Rather Heavy = Railroad
Bonds Loss Active With Prices
Moving IrreGuiarly-
(By Associated Press.)

NEW YORK, Feb 14.-Thcre was a
marked relaxation to-day of the pressure
to sell stocks. which carried prices down
wards yesterday, and prices showed some
recovery The recovery did not set in
until the market had been further tested
by The bears, causing general declines
below yesterdays level. In consequence
the net changes OF the day are, as a rue,
small. but mostly gains.
London advanced prices before the
opening here but turned seller after per-
ceiving the drift of sentiment in New
York and after II few thousand shares on
balance. There was manifest cause
for The recovery. although a few usually
obscure stocks showed aggressive
strength. but the fact was very evident
that the urgent pressure of speculative
liquidation was relaxed. The bears who
sold yesterday covered their contracts in
consequence. This probably accounted in
great part for the show OF frmnesS IN
the market
The bears have received too many Sc
we're lessons in the last few months not
TO have become rather tirnid, especially
in the face of the possibilities constantly
limited at the further important financial
developments. Uniform weakness yester-
day in the stocks generally, including
the interests of the prominent 1inancier
who has borne the most important part IN
the recent consultations. was followed
to-day generally by support OF these
stocks. including Federal Steel, the Fries.
the Readings, the North Pacific and Ma
tional Tubes. The sharp recovery in the
steel stocks served as an admonition to
those who have counted upon q break in
the group
With the steel merger hanging over the
market there was hesitation and more or
Jess apathy in the trading There was no
sign of resumption of the heavy buying
by banking interests which has so often
been in evidence previous TO the recent
consolidation. Pere Marquette rose COS,
St Louis and San Francisco 234, the
AZ. ('bicauD Great Vest
crI pref b q. and a number OF minor
stocks Il considerable amount on persis-
tent rumorS of consolidation Iacka-
wanna rose 81 and Delaware and Hudson
as over st night General Electric was
conspicuous for an extreme advance OF
10 points over last night, with q reaction
of ~: The local traction stocks, sugar
and Tobacco Wee conSpicCOuSiy strong
up :, points. AtchiSon was lifted above d.
None OF these gains We're fully held, and
the tone of the market Was rather heavy
at the close. and the dealings very mate
rally curtaie6 a number OF new listed
securities We're Gealt i'll for the first time.
and each ADVANCED over the opening
prices lndicatio continue of harder
money market. Sterling exchange was
lower. in spite of the continued active de-
nand for money in London.
and prices continued to move -~-guiarly-
Total sales. pa value. $i,o45,0oo. United
States new rs and IS advanced Il per
cent. each on last call.
Total sales of stocks to-day, $4,000
shares.
MONEY AND ENCHANGE.-Money op
calf steady at 3G212 per cent; prime
mercantile paper, i per cent Sterling
exchange heavy. with actual business in
bankers bills at 81 S7lla@4. SIS for demand
and at "a. S3l4@li- S::3s for sixty days:
posted rates. 81. S5Qi. S51l and 81. SSl4d4. So;
commercial bills S4S31&d4.Si. Silver GER
tiicates, G2663; bar silver, COG; Mexican
dollars, Az. Government bonds strong;
State bonds Inactive: railroad bonds