The times. [volume] (Richmond, Va.) 1890-1903, 1902-04-16
|Aa||IB| 7! ! !
| SOUTH J! ! |. ] 4 ERN'
That Was tie Main al Feature Of
Yester days Tradine.
f|T.H COMMON j VERY gE:!I''' ACTIVE ''''l
And Gained Several Points-Louisy
and Nashville SINNERS Down.
The Trading Was Ex-
citing.
ne COMMON Y cry ACTIVE V:

Southern Railway was the ceEts,d. ] " "
attraction in the stock malk en- an enor,
nous scale son the assumption that tn Iss
Morgan terests had secured conero'f1r
the Louisville and asngl,i11 traction
above the closing price OF ths y3,n3iI ona
but at once bsgan5to rise Iapla ,ych un. al
bl9ck Of 1000 shares Mai 1Ie Riehnnd
,bosrd at At this jugeture were g e b; 4o1 &
then back to 80. The stock sold anoye ~ =
after this, but toward the close eas s Old
at one time above eS. It closed on. the
day before at 95. Louisville and Nasnv,ll.e
was not so active sold az, one aetnt ~
}125Js,@ then took another turn upward, sr h5
closed several points lower tilaii II Tue
ne ne : = : sEABOARD# GOES UP.
Some Of the traders seem to think. ina
the Sea board was in some Wa .lns in,,sd
in this deal. and. SeabGard s!ochs e. I5oy,ta
on the Baltimore market. Ind were m more ore
active than for a. long time past, heIe
was little: change insthc price OF Seapoaro
St Paul was very active and Bn, ,o,
Pacific had "a rise Of two points baitl-
more and Ohio was Sanother, stronE Iea ~
follow in the lead of St.&Paul. and RUnion
Pacific. The Atchison road Is snoWlns
fine earnings and some OF the RlcnIuo '1,,
traders believe that it will sell materially
The market was dull before the close.
and last sales were at figures CONSIDER
ably Ds sWE iEns g se Co.'S REVIEW. IS
NEW YORK. April 1o.-1n all PROBABILITY
the trading In Southern Railway to,9 SlaS
heaviest d fhaf one Of
the exchange At the opening toul etin,,
and Nashville was center OK Sttractlon::
bat IN fhert ts
suited in enormous transa ctions In that
stock and attracted the attention OF All
eraaerg ana mpse Heavy trading. It
may be stated that two prominent com
mission houses bought 100000 shares be
tween HI ooo tWo p PFC ien
OF course, the streetis full of r'11nors to
explain this tremendous movement, but
although nothing definite e., is kn 1,oS agyss
:ment would not have been undertaken
without the tacit consent if not the hearty
1T was known during the day by a
formal announcement from Mr. Gates
that he and his associates had bought
control Of the Louisville and Nashville.
and that further, not only was there no
corner in the stock contemplated, but
that also tho whole matter had been
placed in the hands Of j. E; Morg an Z. &
.tozact as arbitra torsA Southern Railway va
reached its highest price about noon; the
highest price of louisville and Nashville
became somewhat heavy. The reason Of
+ the decline in Louisville and Nashville
was proha bly, the statement that Mr..
Gates had control. The fact that he had
secured control made it proba Bile that the
stock would not advance much further.
consequently outsiders who had been
ganhline..on the long side We're disposed
tostake their profits.+sf.5z
Outside Of Southern Railway and Louis
Vile and Nashville the most active stock
was probably st. Paul. 1t fuctuateo
rather irregularly, but was in the main
strong Inside interests seemed to be SELL
sers of Union: Pacific between 1929 and 1Q3.
The factsthat Mr.. Gates. aud his follow
ing appear to lave to some extent Sc
cured the company operation of 2.
Morgan has awakened the street to the
power in the stock market of the west
erner.s wealth; which-was ENORMOUSLY
States Steel CORPORA ton.
It has been a fashion in the past to
look upon the opera tons of these gentle
men with suspicion. and distrust; ,but, the
.extraordfnary. success during the .. last
few weeks have brought about an entirely
different view in regard to their onera-
lions. and from now on they are likely
to prove as successful leaders as were
the Flowers and their followers In the
days of 1899.