The times. [volume] (Richmond, Va.) 1890-1903, 1902-05-29

U[[! ! \ |:
TIL Market h!
There Was.a Squirt in il coaIer i: in
the Early Trading
BASED ON A DATING II u R u . Or
1t Was Said That the Strike Would Soon.
Be Settled, and There Was Large
Buying from Philadelphia, But
Market Afterwards Sold Off.
BASED ON A=FL0ATING C R UM0R

The market Yesterday was about as dull
as on the day before, and there is little.
to say about it. The entire ground Is
covered in the following review by Ed
ward Sweet 6 Co.:
Very shortly after the opening a runor
was circulated on the floor that some
change for the better had occurred IN the
strike situation, and that IN all proDa-z
.bility the differences between the miners
and operators would be settled inside of
4S hours. The ru1nor emanated from
Philadelphia, and Philadelphia houses will
cy towards lower prices which was no.
ticeable at the opening soon disappeared
and the whole market rallied in sympe-5
thy with the upward movement IN Read.
ing.
One, Of the strongest stocks in the list
was St. Paul, Of when the buying was
thought . t9 RI E d 7NbGsYK Gqod
The industrials-Pressed Steel Car and
Car Foundry-were both fairly active at
advancing figures. In addition to the Ia
vora6le statement OF me Rressed S. aa
son given for the movement in these
stocks was that some sort of amalgama--
ton of these two companies was under
contemplation.
s During the greater part of the session
business was practically at a standstill.
fluctuations were SO lnsignlflcant as TO
element. While commission houses did
comparatively nothing. Canadian Pacific
was rather, heavy all day and finally
Go5sd d at p e
which the stock has recently had has
attracted considerable liquidation. Money
continues to remain unchanged, loans be-.
ing made to-day at three per cent.
The closing was dull and somewhat be-
low WIZ W 2f sT6cE Rnt ARE & &c sca ahy
their stocks and have not been forced to
sell them is only half the story. Never
before has general investment of money
proceeded to such an extent in the United
among small holders in such great guam
tity. as has been the case during the last
SIX years; and it is the refusal of these
as it has been the unwilingness of syn
dicates to do so. that has kept stocks
Scarce" and the market steady.
The reason for this course on the part
of the public is not at all difficult to per-
ceive. BY far the greater part Of the
shocks that the security market has suf-
fered have been Of merely sentimental
If SO, but in minute degree with the pros
perity Of business and the earnings of corr
porations. The holder of railroad shares,
these Shares has suddenly advanced to a
high level, and that this level cannot, in
the nature of things endure permanently
without break, has been often frightened,
beyond any question. by the events that
have been. named. But in the middle Of
his fright comes the announcement that
the earnings Of his road have increa sed
hugely over those Of the same week in
the previous year.. And the next week
and the next brings;simiiar4 tales. r-Natu-
rally, under the circumstances the holder
shestitates to disturb his investment; and
while he celebrates what he shall do the
storm disappears and the sky is again ra-
diant. Such has been the history Of the
seven Or eight market scares in 1901 and
Thus ia r in 1902 4'1ST