The times. [volume] (Richmond, Va.) 1890-1903, 1901-02-12
STOCK MARKET !,
WAS SLUGGISH
kosabIe Declines in the Volume of
Dealings.
PRICE MOVEMENT CONFUSED.
There Was a .yido Movement III
Stocks That Arc Seldom Pro,ni-
nent on tho Izxchan-c-Bonds
Continued Very Active.
CBy Associated Press.)

NEW YORK, Feb. lI.-Thcrc was a
very notable decline in the volume OF
dealings in the stock market to-day. ana
the most active stocks We're those under
pressure with the exception of Union
Pacific which was bought with perSls-
tcncy on a rising scale. The market was
again characterized by the WIDE move
mcnt in a very large number OF unlil-
por;ant stocks which are seldom pToInl-
nent in the dealings. and which some
times do not appear in the record OF
transactions for weeks at a time
In this class some of those brought 1oI-
ward into notice attained further adj
vances. while others met proht-taklhS
and again turned back. Among those
newly active were Des Moines and Fort
Doge which rose ~: Pere Marquette,
~: Wisconsin Central, ol2; do. preferred,
81. Mexican National, q; Mobile ana
Ohio, Is
chicago and Eastern Illinois was con-
spicuous for a violent rise of Ga and pre-
fcrred stock rising 4, and rallyng Evans
Vile and Terrc liautc "a, after u decline
OF u point Stocks in this class We're ohiE
prominent however. relatively speaking,
by contrast with their usual obscurltE-
The movement in the general nst was
confused all day, and the greater part OF
the days business in the standard ral!-
road stocks was done below SATURDAY 5
level.
London sent lower prices for The inter
nationals TO start with, and there was
some very heavy selling of Atchison, and
at one time also of Union Pacific. strong
rally in the latter stock and an advance
III [Atchison TO ., bronGht the Hafhet
generally TO the best OF the day. Unlon
Pacific WIS lifted = points over saturday
AID the preferred rs. pennsylvania was
the only other active trading stock
among the standard railroads that rose
as much as a point over Saturday, and,
in fact, no railroad stock OF Importance
Tell as much as { point below Saturday
ut any time. thus indicating the general
SlugEiShneSS OF the market.
The SDeciallieS did better, sugar GlSlll5
at one time points and People, Gas
rs the latter on the good financial show
ing made in the annual report. racine
Mail rose ~ and international Paper y
Western Union was advanced Us OF deal
ingS attributed To a pool. The steel STOCKS
shared in the SlugS1shneSS OF the genera!
market. and only the preferred stocks OF
any of the companies sold as much as
point above Saturday These We're, as
rule, however, firmly held.
Speculation having accepted the report
cd merger as u fact. now waits on an
authoritative announcement OF the final
terms Of the deal Tor q further judgment
of its benefits. The speculative enthu-
:siaSn over the advantages OF the pro-
posed deal has come to be somewhat tenn
pered with the conviction that the steel
trade would be much worse off failing the
zeal than ii has been rather disagree.
able impression to spectators on the steel
deal was created by to-day's slump IN
the smelling stocks. offering an example
Of the possibility OF obstacles to great
vanced toward completion, and of the
defn0raliZinS effect on prices OF d hitch
in the plan. Smelling common fell an
extreme "a under very heavy offerings
and the preferred /. The rallies were
ttful and feverish. the common stock
closing with net loss of AZ
The money market conditions disclosed
ny Saturdays bank statement had re-
pressing influence which was aggravated
by the Sub-Treasury's large subtraction
from the market on account OF Sa>ur-
days Central Pacific payment to start the
week with
The hardening of the London market
again turned exchange in ali the great
centres, including New York in favor OF
London. The failure of the Imperial
I;ank OF Germany to reduce the discount
rate was obviously due TO the fear that
London would draw gold, and the Berlin
adyiccS to the Associated Press report
ing that London exchange there is in de-
Inand on American account indicates that
gold may go from New York again on the
irregular operation
The bond market continued active, but
there were some important reactions on
profit-takinS. The total sales. par value,
S57JN,Qoa. United States IS and new is
advanced 4 per cent. on last call.
Total sales OF stocks to-day were 1,olHH.-
700 shares.
MONEY AND ENCHANGE.-Money or
call steady at 242la per cent; prime
mercantile paper. 100 per cent Ster-
lington exchange firm, with actual bust
ness in bankers bills at Si.SSGi. SSls for
demand and $4.S412cI4. Sis for sixty days:
posted rates, 81. Ss12Iti. S9i4: commercial
bills Sass 4@$I4.Ss14. Silver certificates,
G2G63; bar silver. G11$; Mexican dollars.
49, Government bonds strong; State
bonds inactive; railroad bonds dull.