The times. [volume] (Richmond, Va.) 1890-1903, 1901-12-12
STEADY DECLINE
IN STOCK VALUES
The Market Was Weak From Begin
ming to End.
MONEY GOES UP TO 9 PER CENT.
There We're No Sharp Breaks; but Evidences
of Much observation-disclosures
Prices at the
Close.
MONEY GOES UP TO 9 PER CENT.

The bulls had another sac experience
in the stock market yesterday. The mar
ket opened at aE0ut Tuesdays closing
figures, but began TO sci: off almost I'M
mediate!y, and with the exception of
few rallies here and there it was a
steady go down from start to finish
There were no violent break outs at any
time. but prices eased along down at an
eighth and a quarter until the lowest
prices of the day in most cases were
scored at the close. There We're hardly
any exceptions to this rule. St. Paul
sold from 161 to 159 IA, Union Pacific from
80 "a to eS 3-4, New York Central from
166 to 164 IL, Norfolk and Western from
IS rs to So, Louisville and Nashville from
Jog to los 1-3, Pennsylvania from las to
147; Chesapeake and Ohio from As is to
IS IL. One Of the strongest stocks on
the board was Southern Railway pre-
ferred, which sold from 81 IA to %. but
afterwards sold down to 81, with clos
in: BID of 80 81.
These declines were. as has been al
ready stated. very gradual and gave evil
dence of extensive liquidation. There
seemed to be no excitsment, however,
and the decline was orderly
HIGH MONEY.
There was no news Of any consequence
and the decline is said to have been due
to a sharp advance in the money rate.
which went up from per cent. TO
per cent, the last bid being s per cent.
The announcement of Secretary Gage
that he would anticipate the January
interest thus turning loose something
more than $4,000 900, did not have the
effect to make money easier. 1t was
also rumored that a million dollars of
gold had been engag ed for export. The
market has now been on steady de-
cline for the past week or ten days. and
what rallies have come have been very
| feeble and short lived. The following
comparative quotations will show how
| the market has declined: About ten days
ago Chesapeake and Ohio was selling
| at 80 SIS; it closed yesterday at IS IL;
| Louisville and Nashville was selling
| around no: II closed yesterday at lto IA:
| Norfolk and Western sold at from so to
| 81: it closed yesterday at 90; st. Paul
| was selling above 10: it sold Yesterday
as low as 159; New York Central sold
| around ia: it sold yesterday at 1sf L.
Traders are now beginning to ask them
| selves when the bottom will be reached.
| Some think that the market is in a very
| days ago, and it is conceded that stocks
| generally are in strong hands. II there
/ had been a great many sftmy-marGtned
! accounts in a. market like this the mar
| ket would almost surely have been pan
! icky Business conditions are about as
| good as they can be. and railroad earn
| ings and bank Glearances are enormous.
| but it Is not to be expected that the
| market will boom with money at per
| cent Even the most optimistic do not
! now look for anything like bull move
| ment until after the first of the year.
when money becomes more plentiful.
| One thing that has operated, it Is said.
| to retard the. inflow of money from the
! interior to New York is the enormous
! speculation in grain i'll Chicago. The
New York bankers insist that there will
| be nothing like a money squeeze hut
| per cent money Is pretty close to II.
| A Richmond broker says that the very
| thought that next Friday will be the
| 18th day of the month gives him the cold
I shivers.
COPPER'S CAPERS.
| Amalgamated Copper cut few more
| capers yesterday. selling from 20 up TO
II SIS. then down to 50 and fraction.
and closing at 20 SIS
st. Paul reported an increase for the
first week in December of s1s0.sS1. and
Baltimore and Ohio reported a new in
crease for November OF s2Is.So5, but these
stocks went down In spite OF the flattar-
ing reports.
The New York Commercial Advertiser
says that the weakness in Norfolk and
Western is because of the report that
the costly purchase Of the Pocahontas
coal property vii! interfere with the dfvi-
dend plans which the stockholders have
been expecting to be carried out early In
the year. The same paper says that the
annual report ef the Union Pacific Rail
road will be issued within a few days
and will make particularly favorable
exhibit
| Hugo Johnson. of Chicago. has bought
a seat in the Stock Exchange for $1,000
The produc. MARKET
II The produce market is very dull In the
respect that light receipts continue ane
that there is not a great. OF stuff or
4 still up and showt2o immediate signs o.
Der is selling pretty we'll at cents pc
pound. yenison saddles bring 10 to II
Butter sells all the way from 10 to il
cents per pound. according 10 the Sarioul
grades. Rabbits are worth Il to IL cent.
each. and are selling well. ~ ,.. 80
Eggs are selling steadily ats-t Gents Pc
| dozen.
pheasants. 40 to 50 cents. and wild tur
KEYS, o cents per pound.
Eressed hogs are selling at cents
higher than Tor some time; live stool
Is bringing the following prices: Veais
$3.50 to s11 pei. head: lambs. als to -
cents per pound. sheep, "a 20 cents
cattle, . to cents.
Dressed poultry commands the follow
Ing prices: Turkeys drawn. II 70
chickens i e esnss and hsns
Live g turkeys are worth; Q cents ne =.
4 pound: chickens. 0 cents: hens. 70 u
z q "a cents and geeae