Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-09-06
UNDERT0NE HEAVY.
srock MARKET REFLECTS LITTLE
RE.crroNARY TENDENCY.
c, & o. POOL BUYING CHECKED
Gain. In Number of Industrinls.
Including TirHintn : Carolina
chemscn1-can Money work. Nom
fnalIy as High as 10 Per Cent.
Including !

NEW YORK. September ESPECIAL,
while the share speculation was less
active than yesterday and displayed some
trregularity the market was positively
strong for a few of the prominent rail-
Gay properties IN FORENOON operations.
This was particularly true of ST. Paul.
New York Central. Pennsylvania. Mis-
souri, Pacific and Norfolk and Western.
which scored substantial gains and were
conspicuous features of The trading
St Paul common was essentially the
leader OF the market. rising over three
points AT one time and exercising consid-
cradle influence in shaping general SEN
timent on the market Although renewed
talk vas heard of an increase In the
dividend rate to I per cent, the under
lying cause OF the movement in the stock
vas the reported alliance with the Mis-
souri, Pacific which was expected to take
the shape Of a traffic agreement.
A SOFT COAL ROADS.
A contrast in earnings of the soft coal
roads is shown in the report Of the Nor
folk and Western and the Chesapeake
and Ohio. This former for the month Of
August increased gross. s3e9.s75 and since
the beginning Of the fiscal year. s59i96o.
The Chesa peake and Ohio has had greater
trouble owing 10 the West Virginia strike.
as its revenues have decreased $685. 4S
since July lst.
C0TTON-olI4 CHEMICAL RUMOR.
American Cotton Oil Company and Nir-
GINA Carolina Chemical Company were
active and advanced ] IA and Ia points
respectively. during the morning. but
COTTON Oil fell off later. The ruraor was
again rcyivet that control of the former
would be acquired by the latter ont This
could rot lot confirmed and seems I'M
Trohahie a [ present. as the members Of
the committee which has power to sell
control of the American Cotton Oil Com
pany are abroad
RISE IN WABASH b
II was said to-day that the advance in
Wabash grew out Of tire decision of the
curtis allowing the company TO bridge
tht Mononeahea river and so secure an
ntrance into Pittshurg in which work
mas been opposed. The preferred was
1boTe 80 again today. while large blocks
# the dehenture 'B's' were taken at re-
:ord quotations.
.. BANKS CALL LOANS.
The reduction in speculation to-day
Fas due to the strained monetary out
trust companies called quite freely. The
ioss in cash by the banks SO far this week
las been S6.500000. SO unless loans and
deposits are reduced materially the sur
plus will suffer.
The very first thing that must be consid-
cred in forecasting to-morrow's bank
statement is the failure Of last weeks
exhibit TO account for the known loss in
cash by The large sum of So 500 coo If
this discrepancy is to be corrected. then
the outlook is. indeed. very favorable,
as the money currents have been against
the banks throughout this week.
THE OUTSIDE MARKET.
NEW YORK, September 5.-{Special)-
Speculation in outside securities to-day
offered a direct contrast to that of yes
to-day in that ii was perceptibly small
Linked with an inclination toward ire
gularty as a result Of moderate prol.t-
taking.
American Can common again present
ed firmer front, rising from IS I-2 to 4.
on business of 1,500 shares. The PREFER
ed changed hands at SO 1-2 and 81
AS an instance of the general slacken:ng
OF interest. not more than SEQ. 900 Oregon |
Short Line As were purchased at IS SIS
and 95 - as against $4,000 yesterday.
They are now listed on the Stock Ex-
change
Seaboard AIRLINE securities were very !
quiet. only one hundred shares of the |
common and 400 shares preferred being |
traded in at 80 Is and 521-S and 5o1-4 |
respectively
ON THE BALTIMORE CHANGE.
BALTIMORE, MD, September 5.-(Spe- |
clah)-Ihe market conl45,ied quiet to-day. |
The feature was continued strength IN !
Alantic-Coast Line common which adj |
vanced to-day from 166 IL to ITO on sales |
Of 244 shares. All the sales were In small |
lots, Atlantic-Coast of Connecticut was
quiet at $50
Seaboard Airline stocks. both common
and preferred. were easy. Seaboard COM
mon declined from 30 3-S to 80. but later
recovered IA Seaboard preferred sold
from o. IL TO 81. and later at 52l-s Sea- |
board per cent. bonds opened ar ss14
is lower than yesterday but at The
close sold at IS l-2
NO explanation is given for the con.
unned strength in Atiantic-Coast Line
common. which stock sold at 40 TODAY |
insiders seem TO think that the stock il |
worth the present price.
Nt-W YORK. September Sat the open
ing lo-daE the stock market reflected |
lttle of yesterdays reactionary tenden-
cy, though the undertone was somewhat
hcavN IN fiew of the unstable money mar
Ret and lower prices from London St
Paul came into early prominence. and
with Missouri Pacific divided the honors. /
renewing rumors of a closer working
agreement between those two lines On |
transactions exceeding $1,000 shares. ST.
PAU, while closing somewhat below the
best met a net gain of almost points.
while Missouri Pacific. which was much /
more active. gained ~. The other South
western stocks. especially those in the
Gould system. made some recovery on
the growing, belief that the Governments |
crop reports would prove somewhat ex-
aGgerated. Norfolk and Westerns strength
was due TO favorable forecasts regarding
Una annual report. and Pennsylvania
gam, which was not long maintained,
was attributed to the collapse Of the tun-
hel franchise opposition. The compare
i've inactivity of Reading common. which
vas heavy throughout. resulted. ii was
believed, from the impression that the
probable contest for control had been
settled
c. & o. BUYING. G-.EAPER.
The Chesapeake and Ohio pool buying
was checked by reason Of the roads poor
showing for the latter part of August
bpt closed with a fractional gain. Wa