The times. [volume] (Richmond, Va.) 1890-1903, 1902-05-06

MARKET BET Ter
Than EXPECTED
Three Failures Were Announced,
but Caused No Panic.
MONEY WAS VERY HIGH
But in Spite of These influences and
Threatened Strike, the Market
Held Up Well, and Some
Stocks Advanced.

Yesterdays session OF the New YORK
Stock Exchange was intensely interesting.
and many Richmond traders gathered
around the boards here to watch the quo
tations There was general shake-up last
week, and developments on MONDAY We're
awaited with interest," not to say an AM. !:
was announced that the coal operators
and the miners in the anthracite regions
had failed to agree and that a strike would
naturally. to depress such stocks as Read,
ing, Baltimore and Ohio and Erie and
they were all considerably off In yester-
days trading. Some Of the Reaaln n5;
Baltimore and Ohio went down TO lVe,
afterwards rising to 107. the last sale
being at 1868. Some OF the shrewdes5 5
traders in Richmond regard Baltimore anu
Ohio as splendid purchase at present
prices. The earnings of the ROAD were ere
enormous, and it is estimated mat tIe
like u per cent Norfolk and Western ana
Chesapeake and Ohio We're also somewhat
under pressure, as it is feared that
strike in the anthracite regions VIII nave
the bituminous coal mines
THREE FAILURES.
Soon after the market opened three TALL
ures were announced from Wall. and the
money rate went up to 20 per cent. con
sidering all these adverse influences: II Is
surprising that the general market ga no.
go off but losses generally were light ana
in the afternoon buying moXement SET
in, which carried prices up. The upward
moysmsnt was led a,d b } houiayi1s s and
then hen Went vent up to 1897. last sale being
at 13o. Such stocks as o. Paul. Pennsyl-
vana. New York Central ana other stand
ards left off about where they began.
Atchson was favorably affected by re-
ports from the West OF splendid rains.
and gained nearly q. point.
SOUTHERN RAILWAY.
TI,a or6 10
caused some Of the Richmond traders to
believe that there will soon be sympa !.
thetic rise in Southern Railway Iva al: ana II II
evidences of q gradual absorption OF tina
stock by large interests. Southern Kali
way was very firm yesterday and there
were many sales between 80 and oe1s. l ne
close was irregular.
Missouri. Kansas and Texas is stock
which has some very warm TRENDS IN tll is
city It's report for the fourth week in
April shows an increase in earnings of
s5G.712 From July to April 30th the in
crea Sc was 1881 1S2. Louisville and NashV!ile
crea Sc was s245.O10. and from July LIST to
April 30th the increase was s2.o2s.5 So.
Northern Pacific earnings aes, TO- Tor the touroh
reports as these from the railroads it is
hard to see how the depression, in the
prices of good railroad stocks can be more
'''''-i 'e-'iS' THE 1NDUsTRIALs ;.
The Tndustrials in yesterdays trading
were rather quiet There was little change
in Locomotive common, although. the pre-
ferred sold at 911A and a21.. American
Cotton Oil sold as low as 81, but after
wards went UP to 80 Some of the Rich
mond brokers think very highly Of this
stock at present prices The company is
that the stock will pay 5 per cent. this
year. CoLrado Fuel and Tennessee Coal
and Iron were under pressure. although
thew rallied before the close
The annual meeting of the stockholders
| Of the Tennessee Coal and Iron Company
will be held 1T Tracv City to-day:
Some of the New York brokers look for
dull market for some time to come.
with sageing prices.