The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-03-19
THE EDITORS VIEWS.
What the New York Evening Papers
Have to Say of Yesterdays Trading

{special to The Times p n;Ia !,
loK b arch She Ma IN a se
surlty values made further progress to-
day. some really good gains being estab-
flished in the share list. Tho market re-
part Of the session, and while. business
was not active there was some increase.
in the volume or, trading at the opening
4 and again near the close. .
In a general way. 1t can DO said that
outcome Of a disposition to take a more
situation, which led UP to.increascd con-
&fdcnce as to the future. This was prob.
ably best reflected In the character OF
than Of late, extending beyond the mere
covering of shorts to some accumulation
Y for the long account.
&rhe buying of ST. Paul, which had
strong look, gave rise to a. belief tina @
nanea tere Sad inemt.ea
lad 81 shifted its post! 10 Tie bull side
not only Of that stock, but Of the general
market. IN Il
ket was extremely dull all day. and oe-
casonal!y 4 was pITacieoliy stasnt1a rm
business session. Apart from the easier
tendency in the money. market there was
little or nothing that was novel tn M
lions and the position Of the Southern
Pacific pool continued to absorb the Ghk
was definite regarding tho latter came TO
light to-day, the fact OF. tho continual
dissensions OF the poo, fuliy s SCI e, r. form
The dissenting members were ny no
means reticent in setting forth their at;
titude, and some OF them openly declnred
that they had entered into the original
agreement for the purpose. of making z
speculative turn IN the stock markets ana
were prepared to accept the ordinary
! They did not enter the pool. however,
with any other purpose IN mind, and
more particularly not With the t inteint,on
e Contest st With WITH the latter for tic Control
4 OF the Southern Pacific property.
The Observation-Disclosures says: The
important movement of the day OF n.
z Stock Exchange, did not occur un't' ~ IN
last half hour. II became known at ina
lime that the. greater part OF the ont
standing Southern Pacific shares whlcl
has been loaned out to yenturHsome sell sell,
must be delivered before the close o
business. The first result was the pa ,,,
ding of a PREMIUM for me use OF ~
mad rush TO cover, which lifted ~
price Of the shares In few minutes ~
extreme of 3 points. Strange TO say m
3 .
ing effect upon the rest OF the marker
On the contrary, the fate Of the unlncK.
short sellers in Southern Pacific seemed
TO have impressed holders of like commit
ments in other stocks with a sense OF IN
hazard of their own position. Conse
aueniy the final dealings witnessed
general desire an the part of the shor
Interest 10 beat a retreat, The CLOSING
y was very irregular, the urgent blddinl
In some stocks being intermingled VIII
hnsty selling in others. For the mos
mart the days market was very strong
and had II not been for the Southern
Pacific sensation would probably hay
given better account of Itself at thu
close, AS IT Was. the speculative commu
nifty left off with very uncertain feel
1 Ing.
N The Evening Post says: The reall.
striking Incident on tnrday's stock mar
ket did not occur until near the Close
when Southern Pacific stock, which ha
previounly risen point or more, sudden
tei rlshea up points further Thi
publicly displayed Indications Of q "sh she
account which was an, urgent bidde
for the stock. Exactly what the real SIT
uation was 1t Is not altogether easy I
l. Determine. The effect on She genera
market OF the sernblance OF a corner wa
rnther striking. Until this final half hou
N 81 business the general market had bee
a%ancng With sSms rafbn IN n6,emar, ae