The times. [volume] (Richmond, Va.) 1890-1903, 1902-10-31
STOCK MARKET GOSSIP.

Yesterday was another dull day In the
stock market Contrary to expectations
prices opened higher. hut did not hold. and
the market soon relapssd into a state OF
During the lunch hour rates for money
took an unexpected jump. and most OF the
loans made during the afternoon were 81
ger cent.
The explanation of the increase in rates
ryas that two prominent banks had noti-
lied their borrowers that. LAG renewal
L rate would In one instance be D per cent.
aud another instance at per cent.
AS money has recently averaged below
per cent. these notifications genera.4y
resulted in the retarn of the loan and
IN, fresh borrowings on the Sock Ex-
change.
The offerings of money on the Exchange
veere lighter than for some DAYS ms,
romhined with the unexpected demand
resulted in the advance to sig per cent
IN the afternoon there was an advance.
led by ST. Paul which Jumped up nearis,
two points This MAS on q rumor tnat
The directors at their meeting yesterday
would decide 10 issue siooaQ.s9e OF rev .
stoca, which would be offered to the
stockholders at par. IS soon as the
r,lmor ras denied the stock sold OF. and
tic whole market went off fractonallx;
There was no news yesterday tIe
whole market seems to be waiting on the
Election, and the most interesting rumor
Of the day Was that ]. p. Morgan was
nghting odell because OF the Governor
Interference in the coal strike:
net earnings for September OF s1Si 900
seaboara. earnings for the third Week III
October increased "a 0.o
The close was somewhat above ille2 low
est figures of the day. but considerably
below the CHEST price of yesterday
Rates for, foreign exchange Were pt la.o
acally unchanged. being quoted az 4.ss .S
ana iS6aa The asked price for bills Tor
next week Is somewhat higher. OWING 10
the fact that there is no fast steamer pc
fore Tuesday.
from the fact that there was marked
decrease in the selling by the Interests
whose liquidation caused the decline III
yesterdays market
port of the Southern Railway in Septem--
her shows a gain. in gross earnings or
ko2Sni5. as compared with the same time
y year ago. Net earnings Increased YIN IN
s3S making a gain from July lst OF s-si.-
ITS. Trafsic on the Southern is enormous.
The country through which the road rms
Is steadily growing In industrial prosper
lily, ana earnings should continue TO In
crease for many years TO Gomez Ifie
southern Railway has spent enormous
amounts Of money out of earnings on the
4 prcpe!ty III the last few years. and, as q
result the road s physical condition is In
excellent share while heavier loads may
now be carried al cheaper cost. South
ern Railway preferred stocks pays . per
Increase OF big intrinsic value at a cheap
market price. Eventually this issue
s uhould Sell Well ABOVE par.
The effect OF the recent coal strike on
The earnings of the coal producing and
carrying companies Is reflected in the
statement OF the Reading Company for
Septemher. Gross earnings OF the Coal
and iron Company of the> Reading system
decreased in sep,en.ber s2lsssa7 as com
pared With the same month a year ago.
OWNS to a substantial decrease In operat-.
s Ing expenses ret earning, were lower by
oniy $50 300 For the three months OF the
ascai year the loss In net receipts
q : lsxxys,ii flo g,-Af ,.slr
md June net earnings show a loss Of
1851, 40.