The times. [volume] (Richmond, Va.) 1890-1903, 1902-01-04
STOCK MARKET
A BIT WEAKER. :.
The Opening Was Strong, But stocks
Sold Off.
REALIZING IN EVIDENCE
Som. Think the hlarke: is Being Manipu-
lated, Otaers Say the Reastioa
is Natural and
Healthy.
REALIZING IN EVIDENCE

The stock market opened yesterday with
special strength in the Steel STOCKS, anu
the preferred sold at % and a 1ractloh.
while the common went up to IA. the pest
prices obtained for these stocks for sew
eral months. There was a sympathetic
rise in It. C. l., but the latter stock sofa
or before the close. Locomotive was
again strong-between 81 and Sep,-whiie
tn. preferred sold at SOY, ex-uividend.
The Railroad stocks also showed us
position TO rise, ana the soueile s,,,t n,,nn
were all notably strong, but ABOUT mo-.
there was very general prohs-tahlas OK
the theory that The rise or the past lev
DAYS haG run us course. FROM ina tiiiie
on the market showed sagglns , -.
dency, and the close was irres.utar, put IN
most cases at prices we'll under the pest
SENSATIONAL RISE
Great Northern was one or the faVorites
and advanced three points on the report
that the Northern Securities Couipahs
would apply this week for listing. Ihere
was sensational rise of six points IN
New York Airbrake, but New York l rae
tons were weaker. Baltimore and ONO
opened stronger, selling up to 1854, then
but recovered most of the loss before the
close and closed at about the opening
figure. The Colorado Southern stochs
were among the ravorites: and hrst pre-
ferred sold al 81. the highest price ever
reached by that stock.
There has been very little activity OF
late in the Seaboards stocks. One sale OF
one hundred shares at 90 was repnrteh
yesterday. The New York News Bureau
says:
It is said that in connection with the
Pocahontas coal deal there will be an
issue OF S2O.O0O.0O0 new 4 per cent. bonds
Jointly by the Norfolk and Western Rail-
II ~ fha hnn
and Coke Co.'S guarantee amounts practi-
caily to a guarantee interest on these
bonds.
F The money rate was little easier yes
terday, and there seemed to be an abund-
ance of money at 6 per cent. 1t was re-
ported that the National City Bank had
loaned up to 1890 p NJ. $1O,000.00o in the
open market, thus breaking the rate for
call funds from S to 6 per cent.
Il is estimated that the banks have
gained as much in money this week, a :
was the case last week from the local
movements of cash. and that there wilt
$40 100000 In to-day's bank statement. 1t
is further said that the interior move
ment of funds during the five bank days
of the week was almost entirely in favor
of New York. the shipments out Of town
being nominal.
MORE CASH IN BANKS.
There has also been a substantial gain
from the sub-Treasury, and it is said that
the DenkS received Twice as TluCn cash
this week as last. and shipned only one
third as much The receipts of money by
registered mail. s6.567, O95 against receipts
nr s. 662 last week. The banks shipped
S562,50O, compared with about three times
that amount last week. Last week there
was loss by the banks to the sub-Treas-
ury of ST. 43 900.
The sub-Treasury statement covers dis
b,irsements follows: Gold on New
York Assay office checks, S1.036. 0S7; S19.-
6g, on gold deposited at Pacific Coast
points: $1,000. a21 Government bonds pur-
chased, and 100000 for PENSIONS
The transfers OF money through the
suh-Treasury were 5000. 600. The total re-
ceipts of that institution were SIG, Go eco
and the payments S1S.039 GOO.
This statement: sent out by a well
known New York house. gives fairly
accurate idea as to the movement of cash,
There is still some bear sentiment on
the Richmond market but one of the
hest informed dealers here says that the
reaction which came yesterday was ner-
fectfv natural and healthy and thai he
looks for a better market later on. The
market is all right said he.