The times. [volume] (Richmond, Va.) 1890-1903, 1902-01-11
SOME GOSSIP
FROM WALL ST
The Stock Market Was Dull and
FeafdreIess Yesterday
WITH A DOWNWARD TENDENCY
| - -----------
Directors Ac. on LouIsville's Dividend.
Som. Rumors Abort Steel and
robacco-Bauks Cain
in cast.
WITH A DOWNWARD TENDENCY

The stock market yesterday wa; dull
and without special feature. The Ten
dency was. downward, although there
seemed to be no great pressure to Sell.
The market WIS somewhat affected by
the announcement from Cleveland OF the
failure or the Euclid Avenue Trust and
Savings Bank OF that city. 1t IS Il COM
Faratlveiy small concern. but. as has been
several times stated in this review, there
+ is Il feeling CT uncasineSs; in Wall Street.
and every failure, however unimportant,
tends to make the tinlid more and more
apprehensivc. However, the market held
UP very we'll. and toward the close there
was o little squirt here and there, notably
in Union Pacific, St Louis and San Fran
cisco common, AtchiSon and Southern
Railway. 1Atcilison was quite active, and
at one time weak. The report was cur
rent in New York that the Atchison Com
pany had sold, or agreed to sell, $50, O00.-
600 of bonds to a prominent banking
house, the proceeds to be used IL the &C
QUESTION of new property, although otf,-
GERS of the company declined to make any
statement on the subject. One ruinor was
that these bonds were to be issued to pay
for the Colorado Southern. which the
AtchisOn has bought.
LOUISVILLE AND NASHVILLE.
The directors of the Louisville and
Nashville declared the usual dividend OF
212 per cent. payable February 11th. Inc
estimated general result from operations
for the six months ended December 81,
1901 are as follows:
Gross, increase, 81. 2s4,5 43: operating ex-
pense. increase, 81, 721, 49,: net decrease,
1Si31, $50 fother1increase S145,362; total net
decrease. 2S291 SIT: total charges decrease.
S119.440: net income decrease, SIL2,43i;
dividends. pig percent. increase, Soo,Ooo;
surplus decrease. S227. 437. ~.
the dividend on this road would be in
creased to 6 per cent, but those who had
inside information and who knew OF the
conservative management OF the LOUIS,
vile and Nashville road. never believed
the report. Louisville sold off somewhat
on this announcement. going down as
low as 1O51s, but rallied to 1855 just be-
fore the close.
UNITED STATES STEEL.
Holders of Steel stocks Will probably be
interested in the following, which was
sent out yeSterdayAfrom New York:
People who think themselves well IN
formed on United States. Steel are advis-
Ing their friends to exchange holdings
of common for, the preferred stock. They
say that insiders have been doing this
criticism of the steel staten,snt is in re-
gard to the charge for depreciation. which
is equivalent to only about S13,OOO,O00 on
the capital. Accepting the value of the
bonds. $500, 600, COO, as q low estimate of
the value of the plants and property, this
allowance would be only a little over four
per cent, which is a good deal less than
is allowed by most manufacturing COM
panies.
The same concern said that there was
some Indication that the philadelphia
| crowd was looking for an opportunity
| to advance Chesapeake and Ohio But
| the advance did not come, and that stock
closed at 463s. the lowest point it has
touched for the past several weeks.
TOBACCO STOCKS.
| The following special came over tho
| wires from Louisville to Messrs. Tho mas
| Branch & Co.
| Sales of leaf tobacco last week were
ever known for bright tobacco. while all
| grades OF the new crop sold much higher
! than d year ago. America Tobacco. Co is
! buying all it can find. and had sent buy
| ers to West Virginia, where about 2.0N
| hogsheads of bright tobacco is grown. and
| is paying as much as 81 and So per
| hundred for crops in the barn. 1t has
| also sent six buyers into the dark stem
ming district. and each will buy million
| pounds. Dark tobacco. however. is lower.
| Indications are that the new hurley crop
will sell as high as in 1897. The demand
| for hurley tobacco is such as to put the
price above that of old tobacco and
| higher than at this time last year.
| The stocks of this company are firmly
| held. but holders of Consoi:dated ionacco
bonds have been disappointed that the
| price of these securities has not al
| vanced. The bonds We're little weaker
| yesterday than tfev have been OF late.
THE MONEY. MOVEMENT.
| AIoner was easy yesterday at from 4Gla
| per cent. and It appears from the pre-
liminary reports that the banks have
made large gains on the weeks currency
| movement, the estimated amount ne!ns
| SIS Oh. SEQ.
The banks received from the interior
I! $40 59j. 100 and shfpped to the interior
| So IT'S. 600. Z OF which $3.50 600 was trims
iferred through the suh-Treasury to New
1 Orleans Gain on the interior movement;
| ss4tG.S00 The banks received new Sald
| to the amount of s7!3.500. Of which
| seS7, SIC WIS on New York Assay office
| checks and s25. 700 on Seattle Assay office
| checks.
Treasury bond purchases for the week
nmountcT to 474onO Cold exports were
| 5000 600 United States coli? to Germany
/ This is the first week in when the banks
| have gained sti!,-Trcn s-rry transactions
| proper since .Tuiv %. 1901.
The closing yesterday vas Irregular.
.fD0WN ON UNCLE TOMS CABIN