The times. [volume] (Richmond, Va.) 1890-1903, 1902-09-13
FROST REPORTED
FROM CORN BELT
Call Money Goes Up to Twenty
Per Cent,
MARKED DECLINES FOLLOW
!nsid ers Said TO Have Discounted the
Extra Baltimore and Ohio Stock Isl
sue "A Further ReactionarY
Movement Later in the Day.
NV Associated Press.)

NEW YORK, Sept l2.--Cail money ad-
vanced TO 70 per cent. shortly before the
close of to-days market, and the list
which had been heavy throughout closed
wjtl, marked declines Opening prices
were lower. though mostly fractional, but
che unsettled tone which characlSil1ed
the days comparatively moderate titthS-
actions was apparent from the outset
London came lower on selling orders.
Missouri Pacific was the Chief sufferer IN
the early trading selling OF ABOUT
points and making no recovery. Inc de
cline in the Changers and l'acincs was ~
part due TO reports of frost In the corn
belt. The selling of Baltimore anu ono
was accompanied by reports tIlat l is.o, :. :
bad discounted the extra STOCK issue. %.
Paul receipted better report soon aItei
the opening but in the main stocks, WflCn
then held their own. were of the so-caiied
pool class. There was no great pTesstie
against any particular stock, but the cary
rate for call money at per cent, coupled
with reports that some OF the banks "eIe
showing discrimination IN the 1nalter VI
collateral added TO the unesslness.
Louisville and Nashville ana fs9ch
Island were among the few stocks that
reflected frmness AT this juncture' 'He
latter selling ex-dividend. Trading re-
ceiyed another check when can MONEY
advanced some more IN the second llou.,
hut no great amount OF long STOCK
saerned to be offered. Nevertheless, 1t was
clear that a number OF weak accounts
shaken CGI. IhSIe VIE tistS -
.be Granger group on reports That the
frost had done little damage, and al the
same time Manhattan. also sethhs ei
dividend, was being ABSORBED IN SINAI MAJ
lots on runors of closer relauoHS !" 20
New York Central The Inlted states
steal shares were heavy, with little or no
evidence of support, but INC sirens ~ "
Union Pacific and ST. Paul was SuasseS
tive Of pool support wfiie ahe WeaSness
of Chesapeake and ono was ava
so inside selling.
a further reactionary movement set IN
during the second hour Of the afternoon
when money advanced to 10 per cent.
Declines at that time embraced pracu-
csllv all the active issues and brought
prices TO the lowest level OF the day.
Maximum declines Of 2 per cent We're
Registered by ST. Paul. Missouri Pacific.
Norfolk and Western and Northwest,
with a. 3 per cent. decline in Louisville
and Nashville. and aretgnev hehehert
and Nashville. and even greater losses
20 per cent. rate in call money was the
signal for another selling movement.
Partial recoveries We're made by ST. Paul
and Louisville and Nashville The final
dealings brought some more liquidation.
md the closing was heavy and unsettled.
At the net losses already mentioned net
declines of point or over We're made by
Atchison. Baltimore and Ohio, Chicago
End Northwest, Minneapolis, St Paul and
sault Ste Marie preferred. North Ameri
Fan. Reading. second preferred. Wrestling
house Electric, New York Air Brake,
General Electric Virginia-Caroina Chem
cal. the Copper stocks and numerous
others. Gains We're the exception and
mostly fractional.
Bond market was less active to-day and
reactonary sympathy with the depres-
sion in stocks. Total sales par value.
s2.6e5eDO United States bonds We're ln-
changed on the last call
The total sales of stocks for the dav
were 7i6Se1 shares. including Atchison
a 500: Atchison preferred $500: Baltimore
and Ohio, II. 900; Great Western. soon.
Erie 1850: louisville and Nashville. 400:
Manhattan. 500; Missouri Pacific GO n00:
Norfolk and Western. l,046: Onterio and
Western. 500: Pennsylvania 500. Read
ing 4,4O0; Reading first preferred. s .o00:
Reading second preferred. 800; St Paul