The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-10-04
Wall Street Gossip.

Il 3 y
NEW YORK October Sat the opening OF
a In. stock market 1, was fairly firm. although
there seemed to be as many orders 20 sen as
10 buy. Traders for the most part were IN,
cli,.ed n TO think thai the rally would run
further. although they were LOOKING ior :, Il a.
than In the general list.
London had strong bull points on Reading
nous houses on the other side . some of the carry
buying was due TO this TACT.
Traders though. that the early selling OF
Southern Railway was good, and consldere.
that reaction would find an over-extended
bull account there.
II was said that the game people who were
selling Union Pacific and Southern Pacltc
in London, were buying Northern Securities
here.
The Hoffman House crowd seemed to be
puttirg out shorts e1perimentaily in the carry
p. A.. Fairchd checked the advance IN
1859 shares. He was recent buyer IN some
quantity.
Union Pacific WAS one OF the heavy stocks
q In the early trading. The Hartman folio"frs
in London seemed to hsye got tired and nave
been selling both this stock and s9u,n na,
the calculations Of the bull party here ~ho
are supporting In both markets.
Trading was in fair. but not remarkable
volume In the firs, hour. and the tone was
X decide ily quiet with n like uncertainty IN
places. Commission house orders we're soon
exhausted and the active trading element was
hardly disposed to take any very DECIDED
position.
Traders thought Stool preferred ncted well
after such a rise and were buy lI ~ o. on
small .reactions, believing that James y
Keene was still on the bull side
r II
5s n Was r,,,nor4.i around the street tint there
s would !, bs r ah wond adsance stock
10 poirts The stock rallied from 81 rs 70 ~
on this rin1or.
on the early reaction In Z PENNSYLVANIA one
"a OF the fire houses wit! western connG &C.
lons. especially IN Plltsburg b9ughl lG ;,ag
by Rogers Gould & Co, and Charles Head
&. Co, In spite Of the supposed movement to
cover shorts. the selling looked rather 5000,
A The old story Of mn advance in the chesa.
reake and Ohio dividend was brought up
riorsiy in well.informed quarters. although II
was freely current in London before our
opening
IN THO ear:5~ afternoon 80 tone was 3, go2a..
althoush the market was as. narrower. thnn I
had the o he o. 81 n
Ing period OF last week. Floor traders the
most part were speculaf!ng for further
rally 3i,1b 8
4 block OF 5000, 900 Union, Pacific Convertible
was bought by the president nf one of tho
principal Chicago banking institutions, He Is
understood to have paid UP to 1o7 for tn.
bonds The purchase Is Interesting from I'll !
fact that the institution Represented does most
OF It's business through National City Bank.
The Gates moycnnnt In Missouri Par'fI"
met with better success than It has d ne
lately, although there was some long stock
at 90 Ia. s n
While most Of the5atte,tion of the market
centered IN u tied States Steel preferred AT
+ the tore the general lists,was firm end tn
last quotations were we'll IN to The Re
prices OF tho day, Trtn9fs did not see mnc,
short Inter st around the room and IN View
& OF the character OF the buying were following
the advances,
Arbitrage firms were estimated to hsvo