The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-02-04
FOLLOWING
W As NEACRE
Reactlonary Tendency Domi-
nant for Awhile.
WAS TRADERS CAMPAIGN
News of the illness of the King Of En-.
gland was an Influence in the Early
Dulness and Market Eased
at the Close.
WAS TRADERS CAMPAIGN
nv Asso,,,tod pr..s /,

Wy 'ASSOClatcu ITeSS.
NEW, YORK Feb. 3.-The professional
Element. amongst the traders contested
the apatletic condition of the stock mar
strength and activity before the close OF
the day. There was a very lneagre out
side sid 4, following and very little news on
tionary tendency during the morning be-
came dominant. and the professionals APP
parentiy, resigned themselves TO the
movement In the Wabash securities led
the way out Of the lethargy of specua-
Ton. These stocks made n slight advance
news from Pittsburg that the franchise
for, the company''s entrance to the city
had been favorably acted upon By the
again and the debenture 3 bonds parti-
cularly suffered from realizing The later
movement was organized and had no
fresh news to go on.
the day was the weakness OF New York
Central, which also was without news to
account for it. This movement was the
result Of characteristic traders cam
paign. Yesterdays selling of Pennsyl-
wanna on the score Of the conversion
81 Pennsyivania la stock below that tot Of Kew
York Central. whereas 1t has ruled con-
Etantly above. that stock for long time
to-day.
The news Of the illness of the King Of
E4IlS lhIlu WIS All lIllllltICe III me early
dullness as was also the renewed hitch
In the proceedings for n settlement Of
the yenezuean difficulties.
sylvania lines. both east and west Of
Plttsburg, was so clear a demonstration
OF the prevailing tendency of railroad
that the effect was rather depressing
Sterling exchange was quite ominously
strong. and i. was said that the freight
grain movement had resulted in
CITY Of grain bills in the exchange mar
ket. At the same time the prevailing
Ing obligations abroad. The exchange
market eased slightly, at the close; The
probably the basis for the attempt to ad-
vance prices of stocks. The rate for call
loans fell below 8 per cent. during the
day. This state of ease Is due In large
part to the determined quietude of the
speculation.
A number of the metal stocks We're
conspicuousy strong In to-day's market,
The. advancing tendency Of the copper
market, the measures to consolidate the
lead interests. the Governmental, meas
proYea,ent of the silver situation and the
extraordinary activity in the iron trade
combined TO form the basis for this move
ment, which Included Anaconda, Ameri-
can Smelling. National Lead, and later
in the day, United States Steel and the
independent iron and steel companies;
SIoss-Snelllcld steer mace an unexplained
dip of 2as with n substantial recovery.
The market closed rather Irregular.
IS Wabash debenture BIS overshadowed the
bond market, which was otherwise irreg
ular. Total sales. par value, $4,000.
United States bonds were all unchanged
on the last call.
The total sales of stocks for the day
were 514,SOO shares.
MONEY AND EXCHANGE-CLOSE:
Money on call steady at 2@S per cent;
u closing 21h cent time Siar
ali periods lIs(l4s4 per cent; prime mer.
camille paper, 412dj per cent. Sterling ex-
1 change firm with actual business in
g bankers bills at S4.S6.a564.S7 for demand
and at s. .S4G4.S4.1O for sixty days; posted
rates. s4.si1a and s4.S7l2 commercial bills,
lS4S3G4.S3. Bar silver. ATS Mexican dol
State bonds firm; railroad bonds irreg-