The times. [volume] (Richmond, Va.) 1890-1903, 1902-01-26
VERY GOOD NEWS.
BUT LOWER PRICES
The. Stock Market is Very Decid-
eddy in the Dumps.
IA NEW YORK BROKERS' VIEW
A Visitor from Wall Street Talks About the
Siluation-Stocks in Strong Hands,
but the Public viii Not
Purchase.

The reports Of Bradstreet and Dun which
Were printed III the papers of yesterday
went to show that the business of the
country is in a. most prosperous condition
with 10 clouds in sight ana with every
indication OF continued and increasing
prosperity.
cash Of more than nine million dollars
ana an increase III the net reserves of
$500, $50 The railroads continue to show
increase in earnings. For the third week
showed an increase OF SOILS; Norfolk and
Western, $3i;4f7; Chesapeake and Ohio,
$3.50; Denver and Rio Gran,te. S255Q4.
But for all this the stock market was
still weak and prices we're lower as the
day Wore on. y selling movement set
in after the bank statement WAS made
public. which carried prices down to the
lowest level OF the day, and the close was
weak
4 BROKERS' VIEW.
y well-known New York broker with
Richmond connections and whose opinion.
is highly regarded hers.is visiting friends
in thetGitYg and was asked yesterday how
he accounted for this weakness in the
market iRsyiew of the flattering trade re-
ports and the ease III the money market.
He replied that in order TO pat prices 1ip
there must be purchasers and that the
public were not buying stocks. Time
was, he went on. when the pUlsic
bought stocks on runors.. The rumor of
some great deal was exploited and then
the public rushed in to buy stocks. But
the public have had an experience and
now they wait until they nave something
more than q humor upon which TO trade.
The big people have the stocks. but the
public are not in the market and so
without purchasers prices are compelled
to drop.
He then went on to say that ne did not
expect to see anything like an active mar
ket until the. Northwestern Securities case
shall have been disposed of By the United
States Supreme Court. II the court
throws the case OUT OF court, he thinks
that the market will take a turn upward
deals Will follow which will help tho mar.
Eet. But thescotirt $uTrd ertakes to hear
the cases heettfinks thatsthe 111arket will
sell off sharply. as. no matter what the
uitfnTte decision will be tho delay VIII
NO BAD SIGNS
He vas asked IL he say any utffdNOr-.
able signs in the business situation lie
replied in the negative on the contrary
the situation in this country seems TO him
-toi be most favorable and the condition
abroad is improving. He says that time
money in New York is plentiful sats4 per
cent. and he thinks that all danger for
the present OF money squeeze IS now
t S ONE GOOD SIGN.
But the best sign that he notes is the.
recent purchase Of. stocks and bonds for.
investment You knom, said ne, there
was rni.ch disappointment because the
January disbursements We're not in evj-
tieuce in the stock market soon after the
new year began. But during the past few
days my house has had many inquiries
from New FORK. Boston and other points
for good stocks and bonds for investment.
| and purchases on this account on We'd
nesday Thursday and Friday@were large
These purchases are not In q few stocks
es of good securities. The January dis
bursements are now IN evidence and it
regards thissas one of the bestfsigns that
T have seenEo late y
~ NEW MOVE sINaToBAcCo1WA Ii.
Yesterdays New York Tribune says:
Control of the Henry clay-Bock Company.
limited acquired In the interest
the Universal Tobacco Company and the Havana
Commercial Company T. W. Stephens, OF the