The times. [volume] (Richmond, Va.) 1890-1903, 1902-10-18
ANOTHER DAY o.
RISING PRICES.
Degree Of Confidence That Con
trasts With Earlier in Week.
sHAW's FORMAL BOND OFFER
Call Money Market Showed Great Ease
Soft Coal Stocks Notable Feature
of the Day-Large Dealing in N.
q W.-B. & o. Active.
fRr.A.soc,nted Press. }

s
NEW YORK, Oct. I.-Another day Of
rising prices characterized the specula-
ssion to-day, and the degree of confidence
mat prevailed was notable contrast 70
thts depressed feeling that existed at the
outset Of the week. The formal an-
,lounoenent that Secretary Shaw had
OF 1926. presented at the sub-1reasuyy,
to-day and Tomorrow, was an cffectu2l
tonic to the market It was stated that
8 block of s5.oo.01o had been accepted. and
II was predicted that fully as much more
would be Immediately turned in by q
syndicate at 1879 and interest, which
would net about lSs. All told. it was eA-
peeted that the tenders under this o PIC
would result in the release of about s-d :
n1a.e00 Treasury funds. which woHid pc
speedily available to the local money
teiiai in sight to continue active opera
tons the pools went to work with consia-
cradle confidence and bid up tilcaT lasoi :
ties notably.
case to-day, and there were conilGehh es. -
pectations mat q good Dirk taie.llst I. !
would be issued Tomorrow Wiitcla NVt VIII
contribute toward further ease fthi , 80.
The preliminary estimates showed l.iat
the banks came out about even on tleiT
operations Tirr the sub-ITeaShI!E ana tne
Interior but mp!eior OF some sEhal-
cate tansa ctions this week IS eSPec.en
to reduce the loan account decidedly; Ac-
tive operations by a noted speculative
CLIQUE was said TO be based on The money
received from the Louisville and Nash
Vile settlement, and it was pointed out
that the early closing of the Rock lsland
caItal rea..angement %o Sio, I ere t.. a
tied up in arbitrase operations between
the cid and new securities.
The usna crop OF rui ,1 rs resIpe ecu y.
during tho day. but the most tangible
assertion was that u favorable alliance
had been affected between St Paul and
Union Pacific. Not much was heard OF
the rIImored increase in the Norfolk and
Western dividend. and yesterdays inter-
est in that stock. was largely shifted into
g, group were q, notable feature Of the
Gay ana an early rise of almost 4 points
in Baltimore and Ohio caused an In
creased demand for other stocks Of this
IN Norfolk and Western at the opening.
but after a rise to sos tho stock was liqul-
close for a considerable part OF the day.
But little interest was displayed in the
anthracite coal stocks and there was
some disposition 10 reduce dealings IN
them until the actual settlement with the
miners is worked OUT. Trading was
1uf'foslT active during the first two hours.
and when the list showed some disposi--
ton 10 lag st. l'anl WIS hrousht, iorwa ARD
as a leader. Immense blocks of this stock
were taken. lifting ii As To ls4;.
The United States Steel stocks became
prominent after a long period of neglect,
and their rise started an active. demand
for various othe, Independent iron and
steel stocks. Late in the day heavy
tllvingf movement developed III the East
el,n t:.iln Hines, led by New York Central,
and tllere was a. more general inquiry for
tYae higher priced railroads. including
Illinois Central and the Changers. Top
prices showed a fair sTi'itkling, of gains
reaching ? points and over, and there were
i7:aay or a point or more. The closing
vas active and strong. but some OF the
leading features of the day We're below
the best.
Railroad bonds sv1npathized moderately
with tie rise in stocks, and there was
heavy buying in the speculative issues.
Total sales. par value, SS,ato.oal United
States old As and new As. coupon. ad-
vanced Z. and the new As. registered, x
per cent. on tie last call.
The total sales of stocks for the day
Were l,lG7. 200 shares.
MONEY AND ENCIIANGIl-Non on
call closed steady at 5Gl7 per cent; closed
offered at per cent: prime mercantile
paper. s per cent. Sterling exchange
steady vita, actual business in bankers
bills at s.. .eOGf4 s. 65 for demand and al
20 :grff4 s.. 90 for sixty days; posted rates