The times. [volume] (Richmond, Va.) 1890-1903, 1902-01-21
TOBACCO STOCKS
WERE THEFEATURE I:
In Yesterdays Trading in the
Stock Market.
MARKET DULL AND LOWER
Sons Gold Was Engaged for Export-Most
Stocks Closed Lower Than on Sat-
urday-Tobaeeo Stocks and
Bonds We're Higher.
MARKET DULL AND LOWER

After a week close on Saturday, fol-
Lowing q very favorable bank statement
it was not surprising that the market
opened weak on Monday. The opening
was somewhat below Saturday CLOS
ing figures. and the market at once pc
came heavy, commission houses selling
stocks and the bears hammering prices
down. a good deal OF selling was SAID
to be liquidation. No good news puts
the market up. For example, Louisville
and Nashville reported an increase OF
$4,000 in it's earnings Tor tie second
week in January, wheTeup5H the stock
sold down to l0l IL. more than Il point
lower than the highest price of satur-
day. Southern Railway reported an IN
crease OF $4,000 in earnings for the same
week. and sold down to % 81. against
SIS IL on Saturday. Big Four reported
an increase of s19O5t for the second week
in Jal:usry, being the first time for sew
cral weeks that this road has shown an
increase in it's earnings. Other rail-
reads. with q single exception, showed
ar increase for the Same week, but the
market did not rally. With very few
exceptions stocks generally sold off, and
whilo there we're no violent breaks,
there was little or no support.
TOBACCO BONDS.
Tho exceptions were the tobacco
stocks. Consolidated Tobacco bonds, Glu-
cose and metropolitan. There were
some sensa tlonal advances in American
Tobacco. The first sale was at 2io. next
80. next 295. next $50. next at 2S6 L. the
rext 2o5. and finally SEQ This stock was
selling a little while ago at 1l5. Ameri-
can Tobacco preferred sold at 100. Con-
tinental sold up from III 81 to III. This
naturally led to large buying OF Con-
soldatcd Tobacco bonds. and they We're
very active at between 60 and 50 IS, the
last sale reported here being at % Ii.
These bonds are very largely held IN
know say that they will so much higher
The market was a little better toward
the close, but was still weak
GOLD EXPORTS.
There was an engagement OF S37oQo0 OF
gold for export on to-days steamer. The
New York News publishes the follow
ing from Columbus. Ohio:
Norfolk and Western has placed a corps
OF engineers at work surveying for a
branch fourteen miles from the main line
| to Welsh, w. Va. where arc the nifty
thousand acrers of undeveloped coal lands
| Leased by the United States Steel Cor
poration. 1t Is said that the steel besides
giving a roalty on the coal mined has
agreed to give all its shipping to Norfolk
and Western. 1t is expected that mining
operations s.. II begin next summer ana
tNdC the COlnDl1eQ pTodtCliOIi licIi o,Vtc
| coke ovens to be put up Will be about
1850 tons per day.
GOOD SERVICE.
Richmond brokers are giving their Gus
toners a fine service
Messrs. Scott and Strinsfellow, mem
bers OF the New York Stock Exchange
and New York Cotton Exchange, have
lately installed in their office loop con-
Meeting them with the Northern eN-
changes by Postal Telegraph wire; they
also have an exclusive wire between
their Office and Aessrs. Prince and Whit
ley. New York, which is furnished by the
Western Union. and no other brokers'
office is ON this wire between Fichmodn
and New York. They are also connect
ed with the Office of Messrs. Edward
Sweet and Company. New York, by Ions
distance telephone wire.
This gives them perfect facilities. and
in case of accident they will not lose
communication Eetween Richmond ana
1.-The headquarters of finance"