The times. [volume] (Richmond, Va.) 1890-1903, 1901-10-02

steel DIllIIIDE ENDS
ARE DEG'L AIRED.
The United Corporation Directors
Make No Statement.
THIS is A DISAPPOINTMENT j. U. E.
h,arke, viii Probably R:mnlu Weak and
Inactive for sone Days-lmports Of
Cod Are Larse-Produee
Market Gossip.
THIS is A DISAPPOINTMENT.

The stock SPECTATORS of Richmond who
expected a rally of the market yesterday
were again disappointed. Reports were
freely circulated that the Steel Corpora
ton would meet, declare dividends and
submit a good financial statement, and
thereby give tone to the general list
of securities. Every one seemed impa-
tent for a raise in quotations. but the
raise failed to materialize. The market
opened weak. sold OFF and closed stu
weaker, the closing price being ABOUT
the lowest OF the day.
TO use Yacht parlance. the market
merely driftetl, apathy being apparent on
all sides, and the day closed Withou.
even an interesting feature presenting
itself. The financial writers of the ma
jority OF New York newspapers continue
to be bearish, and little hope was given
out that a better market will be seen
within the next few days.
SUGAR STOCK ERRAT1C.
American Sugar Refining securities
showed a loss during the day of about
five points, and one pessiulstic New York
prophet predicted that sugar securities
would drop fifteen points within the next
few days.
American Locomotive securities showed
greater activity yesterday than at any
time previous during the history OF tins
organization. Quotations advanced from
q 3-4 10 % 81. Amalgamated copper
opened at SO II and closed at 80 lis.
The directors of the Steel Corporation
met yesterday afternoon after the close
of the market for the day. and declared
the usual quarterly dividend or 1 81
per cent on the preferred stock and one
per cent. on the common stock NO
statement was given to the public at
this time in regard ITO the earnings or
financial conditions of the company. and
this was a disappointment. which Is liable
to influence the market adversely to-day
The losses upon the general list were
fractional and not sufficient TO awaken
more than casual interest.
The London market. in sympathy with
New York was extremely dull through
out the day 1t is claimed thst the
yacht race, by taking so many people from
the street. was largely responsible Tor
yesterdays inactivity.
IMPORTS OF GOLD.
Arrivals of gold from Europe and pay
merits at the sub-treasury for the deposits
of gold on the Pacific coast has already
strengthened the position of banks con-
siderably. their gains from the SUD-
treasury alone being something like 81
000OO0 The inward flow of money. it is
claimed. will outstrip the shipments of
currency to the West and South to har-
vest the crops, thereby easing the money
market and preventing the loan rates
from being drawback to the stock mar
ket.
The directors of the Atchison. Topeka
and Sante Fe Railroad viii meet to-day
to act on the dividend On the common
stock Some of the directors, 1t IS al
legged. favor a seni-annual payment OF
2 per cent.
| LEGALITY OF TRUST.
A court decision involving the stability
of trusts was handed down yesterday
in New York by the Court of Appeals, IN
which the antitrust law of that State was
maintained. and a dissolution of the Amer
lean Ice Trust ordered.
UnleEs the action and reports of the
Steel Corporation to-day strengthen the
| market. small hope is entertained that
any particular activity or rally will be
seen during this month or until the mon
ey at least becomes more easy than at
present.