The times. [volume] (Richmond, Va.) 1890-1903, 1902-02-14
OF 'NED STRONG,
Then SOLD OFF
Standard Oil interests Said to
Want Lower Prices.
COPPER WAS THE LEADER
In the Downward Observation-Disclosures and
souta.ra Issues Leaders ID fhe
Advaaee-January
Exports.

The London market was higher yeSter-
day, and our market started OIL at d ~ e.
as though the long expected pull nlarkse
had come. There were advances IN mai,
of the railroad stocks, the Coiorauo ; NV
Southern issues being the leaders, ne
common stock of that road advanced more
than two per cent, and was more itctise.
than it has beaii for many Inoiil.as'
The second preferred and the htst ny, R.el
ferred were also higher, the iIttei seiiiiiS
as high as 81 4.
The first preferred stock of this road mas
been bought very freely in Rlchmono y.
late on the presumption that the StoSh
would be put on Il four per cent basis
Information received here was to the Ell
feet that the directors would, at meet.
ing to be held yesterday, declare u TWO
per cent dividend out of the previous SIX
months earnings. 1t was reasoned tnat
if the stock went on a four per cent. uasis
it would sell very mucn hIsner., W y. ,,,ii
If the dividend was not increased 1t would
go considerably lower. The directors met
yesterday and declared IL per cent. dtvl-
dend out of the surplus earnings 1n iof
six months ending December 81, l3ol, pay
able April !, 1902 Strangely enough, the
stock, SO far from selling off on that an
nouncement. went up, as aiready s.a ,ri.l
TO 67ll. and closed only slightly lower. The
fact that the price of this stock was so
we'll maintained under the circumstance
and that the common stock moFeu up
sharply, naturally SUGGESTS that some ne
DECREASED EARNINGS
Several OF the railroads show decreased
earnings for the first week in February,
among which is the Southern Railway
Company, which showed a falling of for
that week of $4,000. In spite of that fact,
however, Southern Railway stocks. both
common and preferred, went higher yes
terday the common touching 81 and the
preferred selling above 81. It was rumored
jnent official of the Southern Railway had
recently said that the common stock OF
this road would soon be materially ad-
vanced- The reason for this statement was
Y not made known. Some people in Richmond
believe, on general principles. that the
Southern Railway wifi eventually acquire
the Louisville and Nashville. It was an
interesting coincidence to all such that
when Southern began to go up yesterday.
Louisville also began to rise, and went
rs high as JOG. Later in the day. however,
a full point, although it showed an in
| crease of over 5000 in earnings during the
first week in February, against a decrease
for the Southern and some other roads
MARKET SELLS OFF.
The market weakened as the day wore
on, and the selling movement was led by
Amalgamated Copper. which went down
to 60 and a fraction, the-lowest point it
has touched for weeks: Brooklyn Rapid
Transit was also one: of the weak feat
| nres, but this. was to be expected after
bond issue of that system. There was no
explanation of the break in Copper, but
it was rurnored that the Standard Oil in
terests were opposed to a further advance
in the market, and that they had sold
copper in order to hammer the rest OF
the market down. This, of course, was q
| nero .ru,nor on the street, and Is given
for what it is worth.
OUTSIDE SECURITIES.
| The outside market was fairly active
and freer. Northern Securities sold up
from 100 to 1851. on sales of three thousand
shares and over There were sales of Can
common at 13fs, and several sales of the
preferred between 6l1 and 55A. Pocahon-
| tas bonds were quoted at 9f1. bid, 50 asked.
There was some activity in Seaboard
stocks yesterday, and the preferred was
stronger than it has been for some time
There was little change in the bonds al
though the four per cents are showing
a disposition to rise.
a Well known Richmond broker is very
bulllshi on Wabash debentures. These
bonds We're Very sluggish for long time.
put recently have become more active and
| sold yesterday at 724. They sold off
somewhat with tho resi- OF the market
later in the day. Nothing is known about
snem IN TINS city, but the tip comes from
New York that they are good for a hand
some profit II purchased at present prices
JANUARY EXPORTS.
WASHINGTON, Feb. 12.--The monthly
statement of the exports of domestic pro-
ducts, from the United States for the
month of January. 1902, shows as follows:
Breadstuffs, Sls,1 49,; decrease as com
pared with JANUARY. 1901. 600; cat
tie and hogs. s.; 2s2. 1sl: decrease ss5o0o0;
provisions, sl5139. 9a6; decrease. 1880 900:
| cotton, $i0.321,31S; increase, Si475,GU0: min
eral oils. 50. 5000 increase, $72Q OOo Total
for the last seven months, $522. 123. 145. as
against sa2.9l93 81 for the corresponding
period ended January 81. 1901.