The times. [volume] (Richmond, Va.) 1890-1903, 1901-11-14
|nOR!IE. EXP is !: J;
yell 4 CIV NET al 1.
Millions Of Our Gold Sent 10 the.
Markets Of Europe
DEPRESSED THE STOCK MARKET
Announcement Of tic Northerl Pacific Set.
Element Came TOO Lat: 10
fiaYe Much Effect
on Prices.
DEPRESSED THE STOCK MARKET

There was a cloud over the stock mar
ket yesterday from beginning to end. II
was the engagement OF large sums OF
gold for export, amounting to something
like Eve millions of dollars. 1t is
strange condition of affairs which causes
gold to go out of the United States at this
time of the year when we are In the
habit of importing gold, and spectators
necessarily view the spectacle with sornt-
thing of alarm. But, on the other hand.
business in this country Is as good as 1t
well could be, and railroad earnings con-
tinue to show an enormous increase over
the great earnings of a year ago. For the
first week in November, Chesapeake and
Ohio reports an increase of so. lo2 and
Norfolk and Western s14SG5. Almost ev-
cry report that comes in is of the same
character. AS for the iron trade, it Is
booming, and al! the iron industries have
as much business as they can do.
A MENACE REMOVED.
In view of these facts, the market was
fairly strong yesterday. In spite of the
adverse influence of the gold shipments,
and just before the market closed 1t was
announced that the Northern Pacific mat
ter had finally been settled. This came.
too late to have much effect upon prices.
and some say that it has already been
discounted However that may be. 1t re-
moves a menace from the market and will
turn loose great deal oil capital that
has been tied up for some time past. 1t
is also believed that money will soon
begin to returnat to New York from the
interior, and this country is certainly In
better condition than ever before to spare
gold for the needs of Europe. some
stocks seem to be very high, as COM
pared with prices a year ago. but there
has been remarkable development in
the country since that time, and these
stocks, however high they may lie, are
certainly worth more intrinsically than
eves before. If the country continues to
prosper it will simply be impossible to
prevent spectators from putting prices
up to higher figures.
A NEW MORGAN COMPANY.
One of the interesting announcements
from New York yesterday was the incor
poration of the Northern Security Com
pany, with capital of s4oDeG0.0G0. The
charter was obtained by lawyers repre-
senting J. p. Morgan & Co., tor acquire
stocks, bonds. securities. etc. of corpo-
rations. It was said yesterday that the
company was supposed TO be branch OF
the United States Steel Corporation. The
incorporates are George F. Baker. Jr,
Richard Trimblc and Abram III. Hyatt.
The Fr1duce Market.
The produce market Is an obstinate az
ticle, also a dlscouraSlnS one. at east
this Is true to the commission merchant.
who feels that he has "a right to eNpac.
better things. The market Is not showing
up well .of late by any means. and efforts
to discover the reason why are vain. 1t
has got one of it's crazy spells on-th1rs
about all.
Eggs took an upward trend again yes
terday and bid fair to so higher. They
are selling now at 20 to Il cents per
dozen.
Turkeys are dull at s to . cents per
pound. 3
ike chickens sell from 10 to II cents
pei. pound.
Cabbage are worth sla to s14 per ton. or
3 to cents each
Dressed fowls are selling at the usual
prices. Turkeys being 12lh to Il cents
per pound; chickens II TO II cents.
Butter remains about the same at Is
to II cents per pound.
Apples appear to be going to the bad.
They move along very slowly. and srarely
bring more than s. to S. a barrel.