The times. [volume] (Richmond, Va.) 1890-1903, 1902-03-12
WALL STREET
BREA HE'S AGAIN.
Steadiness Of London Market
Caused Great Relief.
TRANSFER OF eolDTo' FRISCO.
This Caused selllng That Wiped Ont Nest Of
Earlier Gains-T There Were subse-
quent Recoverles. But Close
Was Heavy.
TRANSFER OF COLD TO FRISCO
nv Associated Press,

NEW YORK. March ll.-Wail Street
fentimcnt experienced sense of relief
when the reports of the carly London
market showed that powerful support
vas accorded the kaffir market there
and that very little damage had resulted
Elsewhere from the shock Of the capture
BY the Beers of General Methucn. The
price of British consols yielded only a
shade. which was probably the most ac-
curate index of the real gravity OF the
event in its influence upon British finan-|
cial affairs. The revised reports of the
output of gold from the Whitewater for
February is probably Of more real i'm
portance at this stage of the war, and its
showing may help to explain the lndiiiN'-
sncc Of the London market TO the Methucn
disaster.
According to this report by the Trans
raal Chamber of Mines 81, 500 ounces were
taken out during February. compared
with 7G,7aO IN January: bS,Ss1 in December
and no more than SO ,o95 in November. This
rate of resumption Of the gold output
means much to the foreign financial world
and indirectly to New York, while 1T is
FAILED upon to supply European deficien-
ties due to the cutting off of the South
African supply of gold. The calmncSs or
the London market led to some covering
by shorts in this market. which were put
put late yesterday in hope of covering OF
covering at a profit on London selling this
morning. There was renewed movement
in some of the minor specialtleS, wnlch
have been the fayoriteS for some tune
past.
The news of the deposit at the sub
Treasury of Sl,250,000 in gold for tele-
graphic transfer TO San Francisco IN con-
pection with the Traction merger there,
called renewed attention to our own DO
nestle money market situation. The ear
Her gains We're generally wiped out by the
first selling or this news. There were
sonc subsequent recoveries but the mar
ket clos+i heavy in tone and without
animation. Without counting t2-daii.s
transfer to San Francisco, the markets
loss to the sub-Treasurv since the last
bank statement. counting the Saturday
shipments of gold, for which payment was
GS1, 600 The rate for New York exchange
at Chicago, however. which had been at
a discount, rose to par. But foreign eX-
change rates. which were. easy yesterday,
tional gold exports is thereby reopcned.
OF the days special movements that in
The Colorado and Southern stocks con-
tinued. Manhattan was firm on the re-
stocks were advanced Oh reports of buy
ing in the interest of Baltimore and Ohio.
The Wisconsin Central stocks We're active
and strong without specific explanation.
The strength in Peoples Gas was due to
reports OF measures to contest the 20 cent
gas ordinance in Chicago. There were
few other wide movements of less i'm
portance and which were not fully main
tanned.
Bends were dull; total sales, par value,
f2 eA'. 900.
were 554.300 shares.
steady at 3@2Is percent: closing bid and ask
cd 3M31. per cent: prime mercantile paper.
4iId. per cent. Sterling exchange sterdy with
actual business in enksrs b s ut toE
rates 81. sea 4.S6h; commercial bills. S4.s4is@
Si.s5h. Bar silver, Bay; Mexican dollars. 43lt