The times. [volume] (Richmond, Va.) 1890-1903, 1901-02-09
STOCK MARKET
WAS LESS ACTIVE
Low Priced Stocks Brought Forward
by Brokers.
GENERAL LIST WAS SLUGGISH.
T,.r, Was Continuance OF Activity
in the Bond Market. but Ihe'e
Werc Reactions on Profit
Tnking-LocuI Markets.
Rv Associated Press.)

NEW YORK. rep o1,,,,a Of
s,derahie falling off in the volume AZ oA
sn, -, stocks to-day, ana me ue
Line would have been much more iia, -, -
Ind II not been for the bringing Ioi !" % =
into activity of NORGE y. 49, anngs+
stocks of the, class denonnnaleo diiioi'eS
~ hro,ers as cats and DOGS.
I. is characteristic of a long pun me- g
rnent that il should eventually fe.'cii iilto
the dregs of the list and sur up luz ~.
Won't OF the market. The theory Is tldt
~ r.nra attained in the general enuties
the Iow-priced stocks to some me ~,
ia value even without deHeaol'iiieii,t; ~.
the affairs of the stocks. Inc ued .la,s,a
in these is also "A faVorite device Oh Soiiie
nnarafors TO sustain the market Tor 'ne
pi1rpose of realizing in the nigher-p s'.,
stocks which have already enJoSeo tne4i
advance. w.. !.
concerned this was clearly what was
going on to-day. AS matter OF TACT.
combination rumorS We're cIcu4ateN ie
earding the railroads whose STOCKS az
selling below 40 as has become the lash
ion in connection with the bull move
rnen;. but some OF the stocks were oiu
UP without specific rufnorS on the gen
cral principle that anything IS aIaliapIe
for a combination nowadays MOST Gear
ly-defjned T7ImorS applied to the MabaSh
securities and the group Of railroads ope-
rating, in Colorado. These made WABASH
liable to be absorbed by LaCllawanna and
to take in the Gould Southwestern road
for the formation of a new through sys-
tenn TO the East from the southwestern
gulf ports.
RlImors of projected consolidation in
several railroads took on several forms,
some of which were authoritatiVely de-
MED. The Gai-~>in this class of railroad
stocks ran from i to !, points st. Joe and
Grand Island first gaining . and WABASH
common Az.
All of the securities of both roads were
affected in a less degree, and there were
gains. besides. in the Colorado Southern
Worth and Rio Grandc: the Chicago. In
dianaDolis and Louisville stocks: Peoria
and Eastern; the Cleveland Lorraine and
Wheeling stocks. the Wheeling and Lake
Erie. Texas and Pacific, North American,
kanawha and Michigan. and Mexican
Central.
The rest of the railroad list was singu-
larry sluggish all day. and there was
only a handful of stocks that got as
much as point away from last night at
any time, and most of the list viprated
narrowly both above and below last
nights level Union Pacific was never
more than IL above last night The
fluctuations were hesitating and uncer-
tain at all times. The only news of the
day concerning the stock wars the under
writing at par of bond Issue to finance
the Southern Pacific purchase
The latter stock also showed some
strength The steel stocks made a great
show OF strength just at the opening Tin
fiate jumping nearly J points. Steel and
ID anu fSoSidi steel only III
None OF the advances Were fully main
tanned except Federal Steel. and business
IN the group fell to comparatively small
proportions. The belief. continued strong
IN Wall Street that the plan of adjust
ment of control Of the steel properties is
making progress
Sugar had an advance of Il. The move
ment OF cash from the interior by mail
and express is expected to be sufficient
10 onset a loss OF over a million dollars
10 the Sub-TreaSury on account of heavy
customs payments.
There was a continuance of the activity
IN the bond market to-day. but there
MSre reactions on profit-taiing. Wabash
oehentureS advanced e points and tho A
- Total sales par value. SIS. Ago 600
Lnlted States bonds all unchanged on
shares. ''0'oe'o
MONEY AND EXCHANGE -,,o,a,, =,