The times. [volume] (Richmond, Va.) 1890-1903, 1890-11-22
FINANCE AND COMMERCE.
QUOTATIONS OF THE NEW YORK
COTTON MARKET.
stastio. OF Tobacco NJ Richmond nss
othcr Important Ce.trss-Cottsn and
Farm Products Peanut Qsotatiens-
miscellaneous.

othor Important Centrss-Cotten and
rarm Products Peanut Qsotatisns-
miscellaneous.
Nxw YORK, Nov. 2l.-Money closed
n per cent. Exchange closed steady
rosicd rates, ISOH@4s71; actual rates,
17ss. for sixty days, and 4s65104S7 for
demand. Government closed steady; cur.
rsncy Gs, ll2 bid; AZ, coupons, ll91< bid
80 do, lO4 bid.
when business was resumed on Wall
street this morning there was an entire alb
sence Of distrust and nervousness, which
has characterized the dealings during the
,tst ten DAYS. In fact, matters were NOV.
Ink IN the usual routine way. The news
nom London, with the exception OF the fact
mat the market there for American stocks
was slightly lower, was all favorable
representatives Of the Barring Brothers said
that the failure OF Barker Bros. 4 Co., OF
Philadelphia, had not the slightest effect on
them. This was confirmed by the governors
ofthe Bank OF England and j. :. Morgan &
90. The firm was only correspondent Of the
Earrings. The market here did not reflect
ne slightest effect Of Barker brothers fail
tr,. There was NO pressure 10 sell stocks,
a~a rule. and it was the general belief that
fhe market was ripe for an advance, now
that The weak houses had all liz uidated
J.y GOuld's utterances that he had acco M
nlshed his purpose in obtaining large
blocks Of stock in Union Pacific. Atcbis0n.
Pacific Mail. Richmond Terminal and
Northern Pacific, aud that be was
m.lsh in his views, lent color TO
M. report that he was started into
advance prices. The rumor committee
was not in session to-day. and consequently
n1 re- rorts Of its pending failures among
large houses were circulated. All those
hrfcd at as being embarrassed appear 10
bsye passed through the crisis, and made
.hs necessary financial arrangements 10
fr4,oct heir holdings Of stocks. An incl
t.nf Of the late financial disturbance is the
increased demand for boxes in safe deposit
,,mnsuie-. either TO keep stocks with
drawn or money taken out Of the banks.
Price, were strong at the opening and gen.
orally 90 . per cent. higher, while Pull
man palace made an exceptional advance
"A q Ter cent. shortly after the opening,
however the bears singled out Rock
Island and hammered IL vigorously. There
,,a. considerable unloading Of the stock
10. prices opened q per cent. at 81, but in
fne ensuing half hour fell 10 81, half.
There was no explanation of the
cause which led 10 the selling Of the
stock. and no one seemed able TO account
mr its weakness. so far as the condition
and earnings Of the road are concerned, il
i- stated on worthy authority that the
property was never IN better condition, and
that the earnings are such that there can BE-
u1 reasonable uoubt Of the payment Of the
next quarterly dividend in February. Aside
from Rock Island, the market was strong
and huOyant. Its strength was accelerated
hy an announcement made at ii 30 that
tle southern Pacific, Santa Fe, and
Mon Pacific railroads had signed
an agreement 10 firmly maintain rates,
pIy no rebates, and to refuse TO exchange
traffic with roads east Of the Missouri river
found 10 be manipulating rates. At noon
prices were up i 90 per cent. from those
yesterday. The sales for the morning
amounted to 1855, 100 shares. There was a
great demand for stocks in the loan crowd
ail the morning. The following were some
ofthe rates: New York Central, 1872; Chi
cl-0. Burlington and Quincy. Lie; sugar,
d.. and Illinois Central and Lackawanna
fiat. In the afternoon the market cOntin-
u.d strong. Money was plenty and
loaned al per cent, and the remark was
heard in various quarters that stocks
were scarcer than money" The general
expectation is that the bank statement to-
morrow will show great improvement.
Prices gradually advanced TO the close.
something like full-iedged boom was ap-
parent during the latter part Of the after
noon. Stocks advanced at a rate that was
simply astonishing TO those who had wit
messed the recent decline. Prices closed
generally at the best OF the day, and
D., % a. per cent. higher than
those Of yesterday. 1t was stated TO a
dN by "A representative OF London house
that the magnitude and Importance Of the
in lnrpftn indicated Inv
taa fact that the president Of the Bank OF
France thought IL necessary 10 cross the
En-hsh channel and confer with the presi-
dent Of the Bank Of England about the stu
ation. something that has never happened
before.
With regard TO the statement that Charles
Francis Adams would retire from the presi-
dency Of the Union Pacific, and that
sydney Dillon or Jay Gould would succeed
him, Mr.. Gould said " know nothing as
% whether or not Mr.. Adams has placed
bis resignation in the hands Of Mr..
Ame-. 1 may say. however that Mr..
Adams and Mr.. Ames visited me in
my office yesterday. and that the for
mar expressed a strong desire TO be re-
Heyrd from the Office Of president. He sIg-
e.-tod that he should resign and that meet
ingOt the stockholders for action on his resi- z
nation should be called to take place next
week. | presume mat II IL Is True ne mas
entrusted his resignation TO Mr.. Ames,
uat this meeting will be held. Mr.. Dillon
has been mentioned as the successor Of Mr..
Adams. IL is probable that should Mr..
Dillon be- elected there would also be chosen
% tieo-president who should also act as
general manager with headquarters at
Omaha. Mr.. bilious Interests would, OF
course. keep him here, where, as president,
ls would only have 20 look after the iinar-
GEES ~ the road" Mr.. Gould said his
Interests would be well looked after in
auy event. Mr. Gould said further that it
was not true, as reported, that he had OBJ
tanned control Of the AtchisOn, although he
admitted that he would hold considerable
portion Of the AtchisOn stock. The run on
ur Citizens Bank continues. The sales OF
.'.r. today were $50. sos shares,