The times. [volume] (Richmond, Va.) 1890-1903, 1902-01-15
Movement to Sell Increased in Force
as Day Advanced.
WEAKNESS BECAME ACUTE
Market Closed Active and Weak viii prlc S
Generally at the Lowest Goad mar
ket Felt lailurDcr Of Stocks
and Was Neak.
nv associaina Press )

NEW. YORK. Jan. 1i.-Tliere was con
Siderable disturbance OF speculative sen
tlTent III The stock market to-day. and
Inc movement 10 sell gained increasing
force. The weakness became rather acuiC
IL the final hour when the heaviest sell
inS OF The day was done. and the market
crossed active and weak and genersl.iy al
The lowest, net losses running all The was.
iiom lac points Tor the principal stocks.
mere wef some SPECIAL causes OF
weakness of individual stocks which af-
iected the general market by Sympathy
10 some extent, but the movement as a
whoie was duo TO general causes, which
nave been gaining an influence Tor several
adNS past. All minor differences OF in
depreciation over the standing OF The case
against the Northern Securities Company
hre sunk in the general consideration
;hat the legality OF the combination is 10
be submitted 10 arbitration by The courts
and that the value of its securities are to
be in allegiance during the probable pro
ionged litigation. The bearing OF the de-
cis!on on other combinations not only
those made. but some others in contem-
iilation, makes the decision Of this case
OF vast Importance to the whole securities
market. The difficulties developed III the
several industrial combinations which
have suffered from impaired credits have
given rise to II much more conservative
spirit among lenders of money and buy
rrS of securities.
To-day's upset in the grain markets, re-
sulting from oNcT-com mit!nentS in spec
uIation. brought some liquidation direct
~ upon the stock market. Besides these
general considerations Wall Street had
I'unlo-S that a new bond issue by the
Erie Railroad Company was imminent
ana on this The stocks Of The company
declined 1l&M24 points. The remark by
President Thomas in The last annual re-
port that lit would seem as though the
day is now approaching when arrange
mcnts for ncw capital can DC proiltapiT
Jua0c was regarded as d substantial
basis for these rumors
The cut i'll The prices Of refined sugars
cost that specially : points. There was
Tfoticea bic weakness in IL GROUP of stocks
in which there have been much Specuia-
1ion in hopes Of dividend increases or the
beginning of dividends. There were fears
shat these hopes would be dis@ar ointel
The New York. Chicago and St LOUIS
stocks, he st. Louis and san Francisco
stocks. Lake Eric and Western and
United States Express Iniehr he included
III this category. The AtchisonS were
heavily sold on continuing dissatisfaction
over The Gebenture bond issEc- Aside
from these irstances the selling was
pretty well distributed.
There was a period of some strength IN
thc morning. led by Manhattan with .!
,ist, OF IL but that stock fell with thj
4est of the market. Glucose rose 3as IN
face of the general decline
Active bonds weakened in sNmnathT
l,fld easy gains Total sales. par value;
s.; ,s-5 or.a United states bonds were all
UNCHANGED on the last call
The total sales Of stocks FOR the day
were GS5.@1Q shares.
MONEY. AMI TITCTFkNGI2-Monnv on
can steady at 3ds nor cent; closed offer'f4,f
nj per cent I2ri'nH merc9Itile .ranGr:
with actual business in tOan'Enrs bus ~
stS7 for demand and - g c1l1@f4 sa',
fo~ sixty daTs: noSted TateS - - ;,on
81 SIS: commercial hills 81 S2i1@t4 %s'- 1Rar
silver .,:7Sk. Hte2siran doilSrs I'LL Gov
eminent bonds steady: State bonds, in
active: railroad bonus. Irregular.