The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-03-24
EDITORS VIEWS.
What the New York Evening Papers
Have to Say Of Yesterdays Trading

& Have to Say Of esterdaYs rau'ng
fs.y Especial to The Times Dlspatcho
y NEW YORK, March 23.-'rhe Evening
sun says: 1t could not be said with
truth that the various eXpianat IONS "a. al
#Vnnced in the board room In connection
with to-day's irregular movements IN the
stock market were very convincing, but.
fon the other hand. 1t was very easy 10
finite in a general or particular sense &C.
iThe market opened generally heavy: us
tone being derived to some extent from
that Of the London market, which was
decidedly weak. '5Fs
To-day's cable advices contained several
eXplanation of the weakness IN consols,
the most Important being the forthcoming
reduction In Interest on those ses9 1i,,an
from OK to 2h per cent. and, IN addition,
the course OF consols was. said to De
owing to a pending issue OF a new loan
by the London City Council aggresatins
preston OF the London market would,
have cut less figure had not the tone
( there been followed by the sales Of some
5000 shares. of stocks III the iocal mar
ket for foreign account. 5t
The Evening Post says; In the face
Of q rather general depression OF the
stock market here and abroad, the event
81 the day undoubtedly was tho fall in
4 British consols to a new low record for
ihe generation. Attention may only ne
70 two ssstS Sy III mo tSe
worlds premier security Is pretty good
witness to the world $ present demand for
capital; the other, that some projections ms
Coming true, These people, Il vii! be re;
sailed bitterly criticised Sir Michael
I Hicks Beach for placing, In advance, win
an American syndicate, SRun.1o OF tne
t3O0,Opo0Go consols issue In April OF that
year. and for placing still more Win
Continental underwriters. The complaint
was that. while absence OF organized for
I,f l,ttr vt - C
of consols in 1901. the invoking OF such
support and the consequent forcing of
consols into outside markets would grave
~ injure their market at a future date.
The Commercial Advertiser says: Spec
ulative opinion undoubtedly was pretty
unanimous to-day that some. reaction
was due. The majority of the active trad
ing contingent were. evidently operating
on this theory. and the commission house
waiting 10 see how 1t would work. Upte
4 afternoon attempts to force the market
down had not been particularly success
I'd full, a few sharpy1eclines occurred at th tn
IN Union Pacific, Southern Pacific. Rocl
island and Atchison, But the selling o.
the decline was light and 1t was easil,
checked toward midday, by the shar!
up bidding Of Southern Pacific, Wabash
and one or two other specialties, In tn
last ho,ir pressure was renewed with NOR
n success. the guinness WHICH SCI III I'LL
. ,nediately as soon as prices began to e
down was significant In that. It Indicate
no particular desire to sell; Selling origi
mated for the most part In professions
quarters. and was to no small extent 70
The short account. Announcement OF IN
reduction in anthracite coal prices
rather surprising counter-stroke to Sat
,lrday's strike commissions decision re
garding the sliding scale basis for wages
caused some selling In the coal stock
toward the close, The general list cnde
rather weak.
RICHMOND STOCK MARKET.
Richmond, Va. March %, 1908.
SALES.
Virginia Carolina Chemical preferred-l
shares a 1864
STATE SECURITIES. Bid, ASKED
North Carolina As, c.. lel0.... l02 -.