The times. [volume] (Richmond, Va.) 1890-1903, 1902-02-07
SENTIMENT MUCH
MORE CONFIDENT
Dealings in Stocks Better Dis.
tributed Than for Some Time.
Professionals IN THE DARK
They We're the Largest Buyers on Suppose
lion That Others We're in the
Market Who Did Know What
They We're Doing.
PROFESSIONALS IN THE DARK
Gg- Associated press.1

NEW YORK Feb. 6.--Thc stock market
showed considerable access OF animation
to-day and tho dealings were much better
distributed than for some time past. There
were stocks which hung back and some
which fell away on profit-taking after re
cent considerable advances, but the gen
eral tone of the market was strong and
speculative sentiment seemed much more
confident, There was a feeling that i'm
proved conditions were due to some de-
vclopmcnt not generally known, and the
professional traders who III fact, did not
know what they were, were among the
largest buyers on the suppostion that
others who did know were IN the market
with them. These SurmlseS had 10 Go TO
large extent with possible developments
in the suit against the Northern Securities
Company Confident expressions were
heard, but on anonymous authority, that
the decision of the Supreme Court was
made up against the admission of the suit
TO argument The supposition also found
expression that the project of:5 OF the great
merger have an alternative plan TO fan
back on in case of the declared lHegality of
the present company,
1t was argued that n foreign corporation
might hold the securities of United States
corporations and outside the jurisdiction
of the United States laws The reported
formation OF a leasing company 10 control
Metropolitan Street Railway on a giiaran-
lee OF the dividend was rot of much bene-
lit TO that stock, but the evidence thus
given Of the continued planning on the
part OF capital toward development had an
effect on speculation.
Social gatherings OF miners in Pennsyl=
Nauia WAS also made much of, especially
as mon rated as ant3goniSic We're report
cd 10 be present on favorable terms. The
Importance attached TO such unSubstafltlal
ConiectuTcS indicated the continued pre-
dominance of professional operations in
flc market. The traders also made much
ri Inc reduction in the discount rate OF
The Bank of England as promising 4 relax
alton Of The pressure upon New York for
gold. E-@sEa
OF the day movements in detail, South
crn Pacific was largely i1.the hands of the
same speculative interest which has been
dealing III il recently, and tie movement
in Pennsylvania was also attributed to
this operation. Tho Eande:ilitS as a
group We're all strong: and thc9ToIodo. ST.
Louis and Western stocks moved ia sym
DathN with the group on E'unofed abSorp-
tiou in the Vanderbilt interest. The gains
in these stocks reached points, Lake Eric
and Western preferred showing the latter
figure. United States Express made a
further advance of 7%I. The rise OF Ti& in
Third Avenue was due te comparison with
it's price with that of metropolitan. with
an ultimate guarantee OF per cent. Hi
uOis Central was also strong on the gen
sraf consideration of its price level as COM
pared with other equal dividend payers.
Profit-taking, made the closing somewhat
irregular, but the inroadS upon prices
We're not extensive.
The bond market was broad and active.
Total sales, par value A,eo5,eAD shares.