The Big Stone post. (Big Stone Gap, Va.) 1890-1892, 1890-10-17
FINANCIAL.

NEW YoRK, Oct. 15.-Advices from Lon
don this morning were most depressing.
The scarcity of money there added to the
precautionary action of the Imperial Bank
of Germany created the fear that the
minimum rate of discount would be raised
and the carrying of stocks rendered more
expensive in the near future. The politi-
cal complications between England and
Portugal also had their influence in crea-
ting an uneasy feeling there and early
prices from London showed material de-
clines from last nights figures. Upon the
opening of orr market there was found to
be q heavy pressure to sell on the part of
foreigners, which was Immediately added
to by further short sales for the account
of the local bear contingent. The market
here WAS more active than usual Of late,
but the increased trading was entirely in
stocks which are favorites in London,
half 4 dozen stocks furnishing one-half Of
the sales Of listed stocks.
OPENING PRICES LOWER.
Opening prices were all lower but
special losses were shown in Louisville &
Nashville, Northern Pacific preferred, St.
Paul, Atchison, Reading, and Union Pa
ciic. Louisville was believed to have re-
ceived some support on the scale down
from the insiders, but the bulk of the pur-
chases in that and other stocks was evil
IDENTIFY from the bears, who were covering
shorts on the drop. The decline was very
sharp in the early trading, and while there
was rally in the forenoon it was feeble
and soon came to an end. The afternoon
drive was extended to n greater number of
stocks than during the forenoon, and
prices melted away rapidly under the
pressure without support of any kind.
THE LOSSES.
The extreme losses mounted up to over
per cent in Louisville & Nashville, while
many other stocks lost from l to per
cent Sugar refneries, which had been
the one strong point in the market during
the forenoon, fell back again, and finally
scored fractional loss, although at one
time it was 9 per cent better than last
evening. The movements in the general
list were in all cases small and uniDfor
tant. The market displayed at no time
any rccuperative power, prices remaining
at about the lowest after any attack until
another drive sent them down even fur
Their, and the last prices are in almost all
cases Mt about tho lowest of the day, tho
close being weak and made on quiet
business. Sales-listcd, 25S,000 shares;
unlisted, 1000 shares
New YORK Oct l5.-Cotton easy; up
lands, 1896; Orleans, 10 9-lGc.; sales,
440 bales; net receipts, $3.50 bales; ex-
ports-to Great Britain, 1869 bales; to
the Continent, 4,457 bales; stock, 49,, PA
bales Southern -four dull and steady.
Wheat dull and unsettled, closing weak;
No. , red, $l055sa$l O524; options ad-
vanced early Aazsc. on the large decrease
in the amount on passage, reacted 34alc.
on reports from London of the disturbed
financial situation, closing heavy; No. 2
red, October, 81 .05A; November, $l.061s;
December, $l.071s. Corn quiet and un-
changed; No. 2, 56a561ac.; options dull
and easier, large interior movements;
October, &c.; November, 561ac. Oats
fairly active and frmer; options frmer
and more active; October, 441%c.; Novem-
Der, 4533sc.; May, 1870. Hops fairly ac-s
tive and strong Coffee quiet and steady;
options closed steady and quiet; Qctober,;
$lS.lOasIS.l5; May, $l590a$15.95 Snsasa
raw, quiet and firm; refined, quiet and
steady. Molasscs--Ncw Orleans, quiet
and steady. Rice in fair demand and
steady. Petroleum, steady and quiet re-
fined, 750c. Cotton-secd oil, strong;
crude, 27a2Sc.; yellow, 32laa33c. Rosin,
dull and steady. Turpcntine, quiet and
firm ut 4OMa4lMc. Wool fairly active
and firm. Pork, firm and quiet. Beef,
steady and dull; extra mess, $3.50. Tierced
beef, frmcr; city extra India mess, $l1a
SIS. Cut-meats quiet and weak Middles
steady and dull. Lard weak and dull;
Western steam, $40; city, $605; No
vember, $G.43 asked; December, $3.50 bid.
Freights to Liverpool steady; cotton, Il d.;
grain free.