The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-02-12
THE EDITORS VIEWS
What New York Evening Papers Have
to Say About Yesterdays Trading.
Especial to The Times. Dispatch )

NEW YORK, Feb. 1.-THE Evening
Post says: Perhaps because Of the still
higher foreign exchange rate. perhaps
because r Of realzns on general pinc
holiday (all three reasons were assigned
in Wall street,. to-day's stock market
weak a1h the
and closed with very Irregular changes
for the day: The markets movements
was virtually unchanged. The Govern
Inent ceased drawing on the banks, but
paid them practically nothing.
oRer erep UP To-Day ~ a he
figure at which gold has been shipped
from 70 here when Continental markets nrl were
Wei ehongh known, is the only My, h BASIS is
for the so-called Triangular operation
IN exchange. :, Al present, however, the
appear to be drawing at all on England
:, fortahly easy that to-day the Imperial
since October. This condition has re-
suited in a rate Of German exchange
strongly st1ag In London's favor Paris, mean;
s siIne is sending capital into Lombard
per cent. .aaboye the French quotation;
and; as consequence, sterling rises at
Paris also. 1t is now point above the
Lbove the figure Of last February. This
what stands in the way of gold ex-
+ vSAIoa llULl ILLS market, at least untll
lteraing rates are somewhat nearer than
how to the normal gold point.
c 59,4 a Advertiser a says: To,-day's
compared with the previous days, as
vas to be expected with a holiday in
nght But from the outset It was noticed
that whatever pressure to sell there
was yesterday had entirely disappeared.
and the stock market was entitled TO
some SON reaction Ct IN. after It's previous rapid
rise seemed likely to have found all the
satisfaction i was to have in the modest
set back which had occurred. Attempts
TO extend the decline appeared at inter-
yals during the day. but invariably they
developed the fact that selling from yes
terday's sources had ceased, and that, on
f fne s e1ntrsy there We're ready buyers
sions. Before midday the market had
iis al around, and while the pools
ness was unmistakatle The only feat
ures Of interest We're the rise in few OF
3 the Industrial specialties.
ff General Electric. Leather and Smelters
particularly, and some rather heavy pur-
chases Of the Erie stocks followed the
statement of earnings The market as a /,
whole, however. showed very little life at
time and closed with Irregular but I'M
Mall and Express says: Tomorrow
general holiday. which will take many
vacation until Monday. caused dis,
position in The early stock trading to re-
cuce commitments on the long side Of
the account. The. effect Of this was re-
fiected in reaction, which was helped
along by selling Of l5,0o0 shares of inter.
national properties for London account
the market. however, showed good re
cnperative ability, and In the later opera.
lions the decline was not only regained
nut the list generally rose above las
II remains 10 be said that the market
was very dull at intervals and that FOL
Iue most part changes either way Were
SEliRhl' Among The prominent shares thu
lsrtes gained point or better on The ex.
cellent quarterly exhibit In the special
1ies smelling, Leather preferred, the 500
stocks sns = /. Hooking Valley. Westinghouse
While the, stock market possessed com
s pafatlYely little OF interest, tho genera
situation was replete with sutlsfactor,
ana Gneou rad,, incidents The Bank q
3ia per cent. after having mnintained IN,
X 1,gnre at per cent. since last October
The Evening Sun says: Throughout ,
business session IN which price move
irregular. and during which tradine w wa,
4 In very small Volume the stock mark q
retained an exceedingly firm undertone
Practically all Of the more extensiv
: laneous stacks and in sons Of the '' raii
way specialties Thus there were Yer,
sharp advances scored In the Unite;
States Leather Issues. American SrnAItin,
K apI General Electric, in the railway lis
Oh a more extensive swings 4, prices we ''
3 In Hooking Valley and the Wabash issues
notably the debenture ''B' bonds Som
revival Of interest was apparent also i