The times. [volume] (Richmond, Va.) 1890-1903, 1902-04-22
.DISAPP| 0lNT|QIEN|
IN HI market
Traders. Exps cted the Bull II !. Move i!
In d Il To j. G ! !, OF N
-----------:
BUT THERE { Y WAS 4 A SETBACK SET ';
Union Pacific and: Atchison Were Weak
and the Market Sold Off
Recovered Toward
the Last.
BUT THERE WAS. A SETBACK.

q ,rba sctoclSE arl.et ouened with sentiment
very bullish and it Was. eApeCteus -: 80
there would be sh.n;,eised
s drive wa made soon after the marker
5oDened at Union Pacific. and 1t so!d cow
from 5e1s f l9a Du pac!ic fe
Atchison went down to 81 Atch ,a,I,lr+ vas IS
unfayorably , fnnn ts W Vs tepoi
Strangely enough however,, S S.e,t e, u
Pacific went up and sold at ts1s. ,, rt,s
highest price Tor many s;iI, q - ding ~
which sold up from 63 to 652s. Sallaol l,;
Pacific was also strong member s T;,; sell
ing to bus Isae5sd e asS 1ii ana
Ohio closed more than a po;n,t5 besoW ~. Ivy
opening price. Southern Railway Went
down to 355s ana tho preferred, ! Gown ae 70
Locomotive preferred sold at 1855. and the
tip was given out that 1T would go
higher Tnoss ely Mhe of eep
motive preferred, 8bu t regard the common
stock a. purely Speculative.
Colorado and Southern. aelea ~ sa4 -,
to 81 1s. the second preferrea SOLD as nlsIi
as AZ, but afterward sold off more than
point below that figure. The first pre-
ferred opened at 7514 and went down to
~, but th sw f!fSing R Rs HfS z.''s.
sSweet 6 Co.'S review follows
i
111endously heavy, selling by the Chicago
Spectators. Their selling was zespeci.a.iiy
noticeable in Union PACIFIC. OF Wnlcn
less than "a, eco shares. Theil, total sales
during the first half OF the session was
estimated in the neghborhood OF 2g!: HO
shar vas supposed thas me Sc ssi ,,11s
favorable reports in regard TO Wsalher
conditions in the West. Rain is undoubt-
ely wanted fSgloni OF t Mhe Scum IN
a satisfactory5 condition. In addition TO
Union Pacific there was some pressure on
Colorado Fuel and also on ST Paui-
Atchison continued heavy, and thera
was a rumor on the floor that Mr.. Ber-
win and his associates We're not in sym
patty with the recent advance IN the
stock The conspicuouslyz steady stock
on the list during the morning was Read
ing. In spite of official denials. there
is a very strong. belief on the floor that
,cally passed into the hands Of the Perm
sylvania RaIroad. The steadiness of the
morning developed into pronounced
ing at times was OF an urgent character.
and the stock finally closed at the highest
prices Of the day. People. convsrsant witt,
trade trad maintain that even # the story
of the acquisition Of the control of the
Pennsylvania should not prove true. the
earnings of the company more than
During the afternoon Atchison and
Union Pacific both rallied on the receipt
of reports from the Southwest that heavy
wheat crop is not yet sufficiently pro-
nounced to prevent. a material change
for the better should copious rains fall
in theznear future,
Outside of the stocks mentioned above
the market was quiet. Sugar continued
heavy, owing to the unsatisfactory statjs
of the Cuban reciprocity bill in Congress.
Southern, Railway continued to be under
some pressure. and the usually active
ind.lstrials were neglected. International
Power, however continued its upward
course. and the buying was thought to
be to a large extent for inside interests.
Southern Pacific had a, substantial move
ment. owing to the operations Of a. room
trade. Money for four hours ranged from
to ~ per cent but during the last
hour the appearance of an unexpected
demand forced the rate up to 6 per cent
On the whole the market closed strong.
but with considera bic declines in the
stocks which were last week heavily
bought by the Chicago contingent