The times. [volume] (Richmond, Va.) 1890-1903, 1901-01-30
DEALINGS WERE
on SMALL SCALE
ST. Paul and Steel and Wire Stocks
Dominated the Market.
BONDS MODERATELY ACTIVE
a Largo Portion of the Heavy Deal
inss in ST. Paul stocF Is Mnniicstiy
Purely Speculative old
Bcspokcn Tor Export.
nv associated Press,

NEW YORK, Jan @9-The Stock EX-
change was again dominated by So Paui
To-day with considerable disturbance,
carse,; NV fluctuations IN Steel and Wire.
These two stocks ruled the market ana
prices moved somewhat Narrowly, WIN q
small volume OF transactions. throushout
the day Southern Pacific was active
There was no news to account Tor Inc
movement in Southern Pacific beyond the
argument of the SPECTATORS NOBLE ana
Ohio made a very notable rise of G;s. ac-
c conn aln hy ru.nors of absorption on
control by the Illinois Central New lork
Central gained = points on very slSht
transactions and Manhattan and Leather
showed signs of strength. American iIS-
press gained AZ without any explanatory
reason.
The opening break in St. Paul was vio-
lent. the stock dipping AZ 10 40 under
the pressure of heavy blocks to sell.
Later in the day it got up as high as lob.
and wayered uncertainty between that
and LII. closing with Il net loss OF "a.
That emphatic disclaimer by all the St.
Paul authorities who We're quoted OF yes
tcrday's explicit assertions that a!:nge-
ments had been completed for the trans
fer of control to Great Northern and
Northern Pacific made it clear that what
ever plans were in operation TO bring
that result about there was decided OBJ
jections to it among st. Paul stockhoid-
crS. That "a very large portion OF the
heavy dealings in the stock arc purely
speculative is manifest from the fact that
yesterdays transactions alone aggregated
more than half the number OF the total
share capital of the company. This could
only be the result of large professional
traders bringing out the stock on n heavy
scale, perhaps many times in the course
Of a single day IN Steel and Wire the
low point was made a t 50, soon ;tfer tie
opening it then bounded to about Al
before the announcement was made that
: the promised statement would be with
held until :; 7. NJ. instead OF being pub
liShed at il o'clock
During the afternoon the stock got as
high as 4134. bat closed at a net loss of
y. The prevailing state of mind of Specu-
lators in the stock was evidently one of
entire uncertainty as to the effect that
the statement would haze upon holders,
and the uncertainty was likely to con-
linue. as no action has been taken on the
actual question of dividend The con-
;ested and uneven character of trading
was demonstrated by the fact that not
n single share of such an active stock as
Sugar was sold until well into the second
hour OF trading, and the first sale OF
Tennessee Coal was recorded after 1
O'Clock.
A considerable export of gold on Thurs
day is assured. and already $1,000, 600
have been beSpoken in Il tentative man
her at the Assay Office. The continued
firmness to-day of sterling exchange here
and the further fractional advance at
Paris strengthens the Supposition that the
forward movement of gold from New
York will shortly be diverted from Paris
TO London.
The railroad bond market continued
moderately active, with an irregular
movement of prices. Total sales, par
value. $500, GOO United States 3s and
new As advanced y per cent. on the last
call.
Total sales of stocks were 5S7.7Oo shares
MONEY AND ENCHANGE.-Money on
call steady at 13.@2-per cent: prime rner-
camille paper, 3iaGtiA' per cent. Sterling
exchange firm. with actual business in
bankers bills at Si.S73s for demand and