The times. [volume] (Richmond, Va.) 1890-1903, 1902-02-20
STOCK MARKET
CLOSED ACTIVE !! | {:
Union Pacific and St. Paul.
Showed Up a Point.
INDUCED HARDENING TONE.
Earlier Strong Points, However, Suffered
tron Realizing, Making the Close
lire. ular = None, Marker
FIrn-Bouds Irregular.
INDUCED HARDENING TONE
(By Associated Hress.o

NEW YORK, Feb. 19.-The principal ac-
tvity IN to-day's stock market was con-
centrated in the final hour when Union
Pacific and st. Paul, afterslying quiescent
all day, were suddenly pushed up about a
point over last night. AT the same time
| there was an urgent demand developed
for Tennessee Coal and Iron, the reason
for which was not explained, but which
! carried the price 81 over last nights
close. These movements. coming on top
of desultory advances in a number of
stocks not usually prominent, induced a
| hardening tendency all around and dis
posed the shorts to cover. The earlier
strong points meantime suffered from
realizing, so that the closing was irrcSu-
lar but active.
: the high-priced lndustrials and the stocks
of small railroad systems up to that time.
The movement in Sugar and Amalgamated
Copper was very cratic, and after ira
versing a wide range they closed the day
with net gains of only a fraction the
dealings in the United States Steel stocks
were very large, and buying by brokers
usually used by syndicate interests, was
on a large scale. but the speculative pub
lie refrained from following this initiative,
which was supposed to be based upon the
tentative preparation to convert the pre-
ferrcd stock into 5 per cent. bond. The
movement in the stocks was very narrow
The Chicago Indianapolis and Louisville
stocks and the Evansville and Terre Haute
stocks made sensational advances on the
belief that they are to be included in COM
ing consolidation. The United States Rub-
Der stocks were moved upward on the
basis of the wet weather, which increased
the demand for the company's. goods
There were wide movements in other
minor stocks, some showing new strength
and others dropping back sharply after
recent unexplained advances. The gen
eral market was inclined to be reaction
airy during the morning, the Readings es-
pecially showing the effect OF prollt-tak-
ing.
The question of gold exports tomorrow
was an open one all day. and the decision
not to send gold was an influence IN the
late rally. Rates for money are unchanged:
but the undertonc is firm. The flow OF
funds from the interior to this center mas
become small. The fact is evident that
syndicates and large capitalists are fol-
lowing: up the resources of the money mar
skct as closely as possible BY taxing up
lthc greater part of the available credlts
|, There is a continued good demand TOR
| bonds Of various grades, but the move
nent of prices continued irregular owing
to occasional profit-taklng- The general
tendency. however, was firm. Total sales,
par value S3, 900. United States refund
ling 2's advanced Is per cent on the last
call.
The total sales OF stocks for the day
were $4,000 shares.
| MONEY AND EXCHANGE-Aoney on call
| steady at 2hm212 per cent: prime mercantile
with actual business in bankers bills at Si.si y
! for demand and at S4.S+%4 for sixty days posted
rates. Si.S5ik and Si.Ss; commercial bills,
| s4S414G a.. S51i. Bar silver. 551s Mexican dol
| lars i:;ai Government bonds. firm; State bonds
inactive; railroad bonds. firm.