The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-02-12
LIQUIDATION
IS ABOUT OVER
Best Supply of Stocks Seems to
Come From the Bear
Element.
CALL MONEY REMAINS EASY
Time Money Hardened Through
out Last Week-No Accomoda-
tons Under S Per Cent.
CALL MONEY REMAINS EASY
Especial to The Times-Dispatcb.)

Especial to The 1HeS-DlSpatcDD
NEW YORK, February 1.-THE stock
market began last week with n con
tinuation of the liquidation which had
been in progress during the latter part
OF the previous week. The sentiment
during tho carly trading OF Tuesday was
Influenced by strength In Union Pacific
and Illinois Central, due to a revival Of
the rumors OF closer relations between
these two roads. There was little or no
news bearing on values and market
movements were generally without fca-
ture on Wednesday. Great Northern pre-
ferred and Northern Pacific, however,
attracted attention on account of their
continued strength. There was consid-
cradle disappointment expressed over tho
fact that nothing official had been an
nounced in regard to the so-called Cop
per settlement or In the matter uf the
Union Pacific dividend meeting. aud IL
great deal OF stock was %liquldatcd in the
late trading.
Shrcwd observers have noted during the
entire week that real liquidation was
about over. and that the best supply Of
stocks seemed to come from the bear ele-
ment. The bulls were inactive. but
somebody seemed willing to absorb all
aferings at the lower levels, without max
ing any attempt TO advance prices.
Toward the latter end of the week the
Jill stocks turned aggressively strong,
both Great Northern and Nothern Pacific
scoring extraordinary advances, and the
buying Of these stocks influenced the en-
tire market. which rallied rather easily
on comparatively ainnl purchases. All
kinds Of bear talk WAS prominent in the
gossip of the steet during the week.
Tho possibilities OF a coal strike, OF
course. were tho most important factor.
and from time to time talk OF gold eS-
ports was renewed. but holders OF stocks.
as a rule. were inclined to disregard these
considerations. and kept their eyes stead
lastly liked on the general business stu
alton. which continues to be about all
that could possibly be desired.
Among the more favorable factors were
a fall in foreign exchange and an appar-
entity less urgent demand by France for
gold. owing to the fact that that country
seems to be more treasured over tho Rus
sian outlook and the Jesuit Of the Alge-
ciras confidence. taf snl-
The transactions in the short session
on Saturday We're without significance,
aside from the extraordinary activity IN
Anaconda, which made a sensational ad-
SaICC. y 1885, $500
were within a narrow range as profes.
sional traders were inclined to await the
appearance of the bank statement. This
exhibit was unfavorable, but the market
rallied after It's publication on what APP
peared to be covering OF snort contracts.
AS a reflection of the great strength in
Anaconda, A~malgamted Copper moved
W.
Call money during the week remained
very easy at from 3 81 so.4 per cent. hut
time money hardened steadily throughout
the week, and at the close 1t was difficult
to secure such accommodations under 8
per cent.
The bankers expect the firm tone of
the money market to continue for some
time.
Tt is said that the Union Pacihc through
F.. II. Hartman mas arrangedAto turn the
stocks of Great Northern and Northern
Pacific which it still no1s in it's treasury
over to a syndicate formed by the Hill
Morgan interests.
There is bull talk on Union Pacific and
Amalgamated Copper. and higher prices
are looked for during the coming week.