The times. [volume] (Richmond, Va.) 1890-1903, 1901-02-06
STOCK MARKET
WAS VERY ACTIVE
Prices Had Many Variations During
tie Day.
CLOSED GENERALLY HIGHER.
The NJ ,rset Was Extremely spo',y
Throue lout. but CnnstaaiiyNr
ping Ont OF Points of Strength
Oycrcanc Scliin. Disposition.
CLOSED GENERALLY HIGHER.
nv Associated press.)

NF'W YORK, CD o---iO
80 ,,er,. active and ended the day gen
orally higher but prices OF stocks "slis
through many variations IN inc tout9D
of trading The market was eNttei ii'7
spotty throughout but the coiist1 i. -
nina, ont of new and aggressive poliits "a
strength served to overcome the aSl'oSi-
ton 10 sell on the part OF t!i1lid ho! ,itLs
of long stock. as wei as by the pear
traders. who We're cispoSed 10 DIS. ISL y
tactics early in the day
The opening bulge in prices met Win
decidedly discouraSing receptloh' '!hu
some OF the leading stocks IN lhe bst
were carried below last night r..
under the heavy burden of proht-tai KING
sales and operations by the bears. eS-
Iertiay's leaders in the speculative ad-
vance including Louisville and NashVhie,
Atchison. Union Pacific and ROCK lSiaho'
were ali carried below last nights level,
and the dropping tendency OF the Soulh-
aI1l Pacific became more manifest
With weakness in these important
stocks after yesterdays large buying III
them for speculative gains, the "noie
market made a response, and the carrier
gains elsewhere were largely curtaiied
The steel stocks showed themselves not
so yielding as those in other portions or
the list notwithstanding the force OF the
selling movement. The stec! stocks were
an important influence on the market
Buying was credited To insiders. ana
there was a recurrence OF ruinors OF
wholesale consolidation cI the great cor
porationS in the trade.
The opening rise in the southWesterlls
was not so well maintained. although
Missouri Pacific made strong recovery
later. rising TO 1875. II was rurlored that
Chicago and Eastern Illinois had passed
TO the control OF Missouri Pacific or ST
Louis Southwestern, and the lately preNa-
lent rumorS of Il general consolidation OIL
the Southwestern system were again IN
evidence Tobacco about midday was q
feature. Hooking Valley rose AZ. Pete
Marquette .. Minneapolis and St. Louis
~ Evansville and Terre laute >, Lake
Erie and Western >. and quite an extend
ed list from to points in the railroads
The most important movement of the
day was in the later dealings. when the
coalerS developed sudden and aggressive
strength after showing symptoms OF
heayiness in the day a statement that
:. dividend on Reading first preferred was
not to be increased for the present The
movement seemed to be based on runorS
as to the disposition Of Lehigh Valley,
different reports assigning it to Lacka-
wanna. Reading and Erie. Gains on the
movement were 81 for Lackawanna, ) for
Delaware and Hudson and from 1 to ,
for other members OF the group. The
movement in Pennsylvania was not eX-
planned but it resulted in an advance of
4 points. Union Pacific and Southern
Union also succeeded in throwing off
their depression. The former advanced
10 ~ and the latter to IS through heavy
offerings in both stocks.
y furry 10 > per cent. in the call-noney
rate was not much needed, although it
calls attention that last weeks incursion
into the gold reserve force by the loan
expansion OF over S20O0O, eco was reality
TO be reclloned with. The reaction in
sterling exchange and the impression that
an outward gold movement to London is
averted for the present. owing to the de-
cline in the money rate there, helped to
Offset the effect Of the firiner tone of the
local money market.
The ABSORPTION of middle and lower-grade
bonds continued very heavy and at ad-
vancing prices Total sales. S7,71O,o0O
United States IS advanced q on the last
call.
To-day's total stock sales were ,55aa7, 200
shares.