The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1884-02-03
ny TELEGRAPH.

NEW YORK. February 2, 1884.
Not since October last have the sales ON the
stock Exchange reached the total attained to-day,
$4,000 shares having changed hands from the
opening until the close OF business the tendency oil
prices was Upward. reactions which occurred Mt
intervals having invariably BROUGHT I'm buyers aud
caused rapid recoveries. The bulls were In full
CONTROL aud were materially assisted In their ope-
rations by large Increase In the number Of out
contracts. The smaller bears have generally COW
cred, and are now enlisted on the bull side ; but
the large bears still heavily short, IA the bor-
rowing rates for stocks plainly &c dcate to-day.
use. Louisville and Nashville 1-16tDS, and North
ern Pacific preferred, New York Central, and
Reading 1-64. Canadian. Manitoba, and New
Jersey Central lent fiat. The activity and excite
ment surpassed ANYTHING witnessed on the stock
Exchange for long time past, and the dealings in
some leading shares were on az enormons scale.
unusually large total for any stock. The adj
vance ranged from \ to 3, and extended through
ket were Union Pacific, Western Union. Missouri
Pacific. st. Paul, Lackawanna, and Lake shore.
ard the low-priced were southwestern shares.
The rise started undrr the leadership OF Union
PscI6c, which advanced from 81. As the buying
movement In this stock progressed. 1t was dIscoy-
cred that The supply was smaller than an
vance. Western Union followed closely after
Union Pacific, and rose "a .on business
of over 10000 shares. Missouri Pacific also
ADVANCED sharply, selling up ~ and closed
the bears 10 cover I'm this stock did not meet With
much success. as the market ran away from them.
The dealings in 1T. Paul and Lackawanna were
large ut steadily advancing prices the former ris-
ing II, and the lltter2. Several prominent hears
tvi,tedm on these two stocks to-day. Lake
shore was another leading feature, speculation
rising Q, with considerable buying for Vanderbilt
account Northern Paclfics were more active
and higher, common advancing =, and pre-
ferred IA. Oregon Transcontinental sold uD
to % in sympathy. The iow-priced. sonth-
western shares exhibited mere animation
and strength than for "a month past.
Changers were purchas ed freely the belief ths;
the meeting on Monday of the Western Trunk
Line Association will result in some definite I'M
derStanding between the roads. Northwest rose 10
IL j; Chicago. Burlington and Quincy, l24h
omaha. 33&; Omaha preferred. 90. CANADIAN
Pacific and Pacific Mail advanced 70 5575 and 46il
respectively, the rise In the former beng due TO
shipments of stock to London, which la, reduced
the supply here to q very small amount and IN the
latter 10 the increased freight business of the COM
pany. an extra steamer being sent out this week.
Michigan Central rose To 944 and reacted to S2ls
Late this afternoon thee was reaction OF 46e l..
owing TO sales To realize by the smaller class Of
opera tors and room. traders who usually close out
on saturday on fun market; bnt In the final
transactions there was rally, and speculation
closed very firm, with many shares close on 10 the
highest point. Compared with last nights clos
ing, prices are isd2b higher.
NEW YORK BANK STATEMENT.
NEW YORK. February 2.-The weekly stale
ment of the associated banks shows the following
changes: Loans increase, sf,S55.20O; specie in
crease. $l.040.OO0: legal tenders increase.
$4,000: deposits increase, s5,l77,20O; CIR
culatlon de rease, s65,300; reserve decrease.
The banks now hold Sl9,29S.375 in excess OF
the legal requirements.
BALTIMORE.
BALTIMORE. February 2.-virguia 6's, consol'
40: ptst-due coupons, 4Qif. new 3's, Sax. North
Carolina G's, old, 1l03s. BID to-day.