The times. [volume] (Richmond, Va.) 1890-1903, 1902-02-07
STOCK MARKET
WAS STRONGER
Trading Largely Professional,
Though Somewhat Broader.
UKDERcURRENT WAS FIRM
Granger, We're Strong : Big -Four Was
Feature of Market, Opening at
1901 and Advancing te
1o4..

1909 and Advancing &c
104..
The market yesterday, tnouG: dun. vas
a good deal stronger and broader. nc
public did not take any great hand II sils
trading, which was largely proiessloha!'
but the advances were none the Tess iiu.-
cative of an undercurrent of good feellns.z
The Changers were strong. In TINS Gomez
ton it is very Interesting to note thae
Rock Island showed a decrease for DeceM,
Der, 1901, OF $3a, ao0. For the same period
corn deliveries atinterior points decreased
fully 50 per cent. awhile in December, l9.e,
Z Rock Island increased over the 4precedinS
year $1,000. In other words, despite the
decrease in corn, Rock Island slightly M
creased it's average over preceding years,
and the same Is shown to be true for Chlca-
go, Burlington and Quincy. The New York
Evening Post thinks that the reason why
the gran-carrying roads fell Off so enor-
mously in 1894, when the corn crop failed.
was rather due to the general situation
then eixistin. than TO any direct effect of
even so large a part OF the trallc OF the
Western railroads. as corn.
/ When all the country is prosperous ana
general trade is booming. the failure OF
even so important staple as corn or
wheat makes nothing like the impression
on the earnings of the railroads as When
everything is depressed.
The feature OF the market, however, was
Big -Four, which advanced to 1oiss. having
opened at 1904. The Tines pol h1S ho out
made by the Big -Four in passenger ana
freight traffic for January: 1t is not
| known at present whether there s.anX-
thing more than investment buying in Big
-Four. There was, however, q strong, tip
that the stock would so higher.
Southern Pacific reports for December
net earnings increased sS7,33SS3, and surplus
after charges, rentals. betterments and
improvements of Sl96.77S. Other railroads
that increased earnings We're the Dela,
| ovid FOR
Company, which reports for the quarter
ended December 31st. surplus over charges
Sis 94, against sl06420 in the same period
of the previous year. Central of Georgia
also showed an increase for the fourth
week in January of s13. 500. st. Louis and
Southwestern for the same period showed
"a decrease of s26,4l3. For the month the
decrease was SGT. TAG. Since July the de-
crease has been s54,e49.
/ The Wabash officials state that though
large transfers. of stock have been made
recently on their books they do not know
| that the matter has any other significance
than buying for investment 1t is said tnat
! this purchase is by the Delaware and
| Lackawanna, but there is nothing more
| than mere rumor. Union Pacific was
| higher, selling up to 1O3-a Southern Pacifc
F! was also strong,, selling to 657s. In this
connection it is of interest that on We'd
.nesday the transactions in this stock
| amounted to I7.O00 shares, and Southern
| Pacific advanced to 6ist, the highest point
| yet recorded for it.
| Express stocks were very strong. United
States Express. which closed last night
at 1l6, sold to -124h.. American Express
stock was bid for at 225 with .22S asked.
Cooper t1uctuated between 7t5s. at which
| point it opened, down to 1884. and closed
| about 747s. There was a rtlmor that the
| Analgamated Copper Company was large
lily oversold in London and could not make
/ deliveries except by furnishing n much
more expensive grade than their contracts
| generally believed by the metal brokers
| in London: Metropolitan was quite ac-
tive. opening up arsl.2A a point point and q, a
icommon was quoted at 1iisG1fias.s Can pre-
| ferred sold at 90. 80
In the local market Chemicals continued
| strong, preferred selling at 122A; offered
at 123 Seaboard preferred sold at Az and
I the common at c5ia. Ten thousand Sea-
board As sold Al S4ls. Virginia Centuries
! were quiet at a9is and e9A-
Wall Street Notes.
I vice-President McCord. OF American
! Bridge, says this country is within short
zdistance of a serious steel famine. No con-
1 tracts are now being accepted for foreign
/ delivery. and importations from Germany
1 are inevitable. Prices will continue their
/ upward tendency; The greatest: scarcity
I Will be reached during the summer
1 months. ct is the price we have to pay"
\ says Mr.. McCoru, for our unparalleled
prosperity.
/ The Evening Sun of Wednesday says:
| 1T was stated that the recent Southern
!
! leading insurance companies Many per-
l sons believe that the control OF the
| Wabash will be practically secured By the
| Missouri Pacific through exchange CT the
/ Wabash bond deDcutnres for a Missouri
! Pacific or Iron Mountain fixed charge
bond. The great need OF the Wabash and
the Goulds is railroad connection with this
| city. hence the talk of a change n the
| Lackawanna control. Stockholders of the
| latter, aware OF the conditions. have re-
| 1uctauce TO sell that-is not surprising I'M
| der the circumstances.
/ The rise in the Atchison shares yester-
| day followed the publication of the conf
) pany'S statement for the six months end
I, ed December 3lst. This showed total net
| earnings of. s13Ge5,1S7 and, after interest
charges, including interest on adjustment
bonds. a balance applicable to dividends of
I IS, 703,510. These dividends, y. per cent. on
! mon, amounted to $t.S93, 400. leaving a sur
! plus for the six months of Sc. Sl5, Coo.
! The New York Times of yesterday says:
The advance yesterday iii ST Paul, which
| was the strongest railroad stock on the
/ list, was on buying principally by Western
| louSeS,.who, in their bulletins to their
| customers, attached much Importance to
the traffic arrangement just entered into
| between st. Paul and Northern Pacific for
! their lines in North Dakota. The persist
| emit talk in the street that the dividend on
tho stock is to be increased. is pronounced
by interests connected with the property
to he altogether premature, us the dividend
! NEE ting will not be held until early in
/ March. %Snd no official discussion of the
-tr,,.1 II t..I-T. ,.r.,x.r