Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1903-01-06
STOCKS IRREGULAR R c.
soHsIDERABLE SIREN iTH. AND
FAIR ACTIVITY.
FAIR ACTIVITY.
THE MONEY RATE RELAxEs.
Figure ON EncaasEe Falls Below
Sic Per Cent. Late I'm the Day
gsne Money Also Ea.icr = Soft
Gear stocks In Demand.

NEW YORK. January b.-To-day's ex-
trenely Irregular and uneven stock mar
kct made considerable show of strength
and OF fair degree OF activity. Stocks
that did not share In the strength were
not generally rcactionary. but were rather
restrained from the advance by selling
to take profits. Commission houses re-
ported some growth in outside demand,
and the feature of the days trading was
the comparatively small lots dealt In. The
great speculative pools were active but
operators in stocks in which outside de-
mand appeared were inclined to take their
PROFITS by feeding this demand.
The money rate relaxed very distinctly
to-day, and some OF the banks reported
renewals of call loans for large amounts.
1t materially lower rates than those late
" prevailing. The market rate on the
exchange fell below six per cent. late
In the day. Time money also was easier.
and for the longer periods there was some
difficulty in placing funds.
EARNINGS OF RAILWAYS.
LILO picolcAI "a lutAI u01 SdIA1uS OIL
railways is kept alive by the continual
reports of advancing wages. The re-
opening Of the Union Pacific wage .qucs-
zion was distinct drag upon that Stock.
The hard coalers reflected proft-taking.
end United States Steel preferred was
q notable example OF the same process.
although the common stock shared fairly
In the general strength Of metal stocks.
Including the railroad equipment compa-
Mics. The further advance In the price
Of copper benefited ArnaIgamated Copper.
The Southwestern railroads were the SUBJ
sect Of speculation on the ground Of
early benefit to be derived from the corn
crop. Missouri Pacific was prominent.
and was helped by its increase in gross
earnings for the fourth week in Decem-
Der, OF s1ss.010. Louisville, however. which
gained In GROSS for the same period over
e193000. w6s held back through the real
ling. Tho large engagement for export
st corn was an encouraging factor.
SOFT coALERs IN DEMAND.
There was aenotahle disposition for the
Spectators to seek low priced stocks,
both amongst the railroads and the in
dustriaIs. Some OF the eoft-coal stocks
were in demand. especially those tapping
the Ohio and West Virginia fields.
"A rally In ST. Paul from carly depres-
Zion had an encouraging effect upon the
speculation. as did the strength developed
In Sugar. but the frregu1arity in the
market persisted until the, close.
INVESTMENT DEMAND IN BONDS.
There was some evidence Of invest
ment In the bond market, and some Of
The Iower-grade bonds. which still re-
turn a compare lively high rate Of inter
:st, were the favorltes. Total sales, 49,
10000. par value. United States 2s and
I'D As advanced IL per. cent. on the last
all.
The sales OF stocks were sss,soo shares.
MONEY AND EXCHANGE.
Money on call steady at 5@s per cent;
last loan at 51s: closing. 596. Time
money easier: sixty days. 5d51s: ninety
lays 5@5k; six months, b@5,k: prime
mercantile paper. per cent.
Sterling exchange steady at the ad-
vance. at s4.S6.bo for demand. and at
S4.S34o for sixty-day bills; posted rates,
nssh and s4s75k: comm ercial bills, s4.sa1l
asb.
Bar silver. IS: Mexican dollars. IS Ia
Government bonds strong: railroad
bonds firm.