The times. [volume] (Richmond, Va.) 1890-1903, 1901-11-01
IN THE HANDS OF
PROFESSIONALS
The Stock Market Was Dull and
Lower Yesterday.
C. & 0. WAS ACTIYEAND STRONG
Traders Were Disappointed Over the North
ern Pacific Deal-American cau Is
Weak, Although Earnings
Are Good.
C. g. O. WAS ACTIVEAND STRONG

Inc Stock market is sun III llie IlStiiuS
of the professionals and much manipu-
lation goes on from day to day to put
stocks up or down. within narrow
range, without regard to conditions. The
market was a professional affair yester-
day, but the traders We're disappointed,
SO they said, because there was no an
nouncement that the Northern Pdclhc
matter had been adjusted and in the
afternoon the market showed a d1sDost-
ton to sag. Speculative sentiment was
depressed, moreover. by the remarkable
strength of sterling exchange. for IN
spite of gold exports of nearly S5,eoe,0eo
yesterday, the rates for bills were prac-
tically at top notch, and 1t was reported
that arran gements were being made for
several shipments of gold next week.
Secretary Cages decision to resume
bond purchases had no appreciate effect
on the market. which continued to be
rather weak up to the close.
C. & Q. .BOOMS.
C'hesapeake and Ohio was unusually
active yesterday and something like fifty
sales were reported en- the local boards.
There was a gain of about l per cent,
carrying the stock up to Il Is but the
price was somewhat lower at the close.
There We're several large purchases at
the high figure, although there was no
news in Richmond to account for the
squirt. Insiders say. However. that the
road is in excellent condition and the
earnings are larger than ever before
c. & o. will soon pay a dividend OF
per cent.
CAN IS WEAK
One of the weakest stocks yesterday
was American Can. which had been going
down for some time past. In April last
the preferred sold at s; and the common
around -: yesterday the preferred sold
as low as G. 3-4 and the common at Is.
I>,);, sf,rsn ma
is being played between this company
and the United States Steel Corporation.
and some are OF opinion that there Is
manipulation to put the stock down IN
oder that it may be bought cheap Tor
a purpose. This. however. is mere hear
say. So far as can be ascertained the
earnings of the American Can Company
are enormous and largely more than
enough to pay dividends.
A PUZZLE IN STEEL.
Another puzzle in the market is L. 5.
Steel. 1t is We'll known that the earnings
of this company are amply sufficient to
pay dividends. yet the stocks are slug
sisIl. and whenever there is any advance
in price a great deaf Of stock of both
classes is offered for sale. These stocks
are about as low to-day as they We're
the day after the President was shot.
Traders seem to be afraid of industrial
/ stocks of whatever character. and the
Steel stocks are no exception. All good
railroad stocks, however. are firmly held.
and it is believed that after the money
situation clears up they viii go higher
Chemical was more active yesterday. and
there We're sales in New York of the
common at 81 ID, the highest price on
the local market being 81. There We're
sales of Chemical preferred in Richmond
at 122 1-2.
The Produce Market.
TURKEYS and cranberries are beginning
to show up on the produce market, and
both are selling well. They so along to-
gether pretty much, and when the COB
bier moves along at q good pace, the her
ries are apt to follow closely in his wake
Turkeys are rather scarce at present and
are worth 10 and II cents per pound They
will come in in larger numbers in Il few
Gays. and from about November l5,n on
until Christmas will own the field. The
cranberries come mostly from Cape Cod
via New York and Philadelphia. They.
too. are here in light quantities just now
and sold yesterday from $500 to s. per
barrel, wholesale.
The game season opens to-day, and
dealers are expecting large receipts from
the start venison sells now at Q cents
per pound.
Florida oranges are beginning to come
in. They are selling from s2.s5 to $3.50
! per box
Apples. owing to larger receipts and ,,n-
cavora Bile warm weather. are rather quiet.
Medium, winesaps and Albemarle pippins
sold yesterday at S2.c5 to s2.15 per barrel
Fancy apples are scarce and sell high
Choice veals are very active. selling at
Is cents per pound
Eggs arc going up and UP. They are
-ery scarce now and are in good demand
A t,ozen brought 20 to II cents yesterday.
Prices in most other lines are about the
same as those quoted for Wednesday.