The times. [volume] (Richmond, Va.) 1890-1903, 1890-11-15
FINANCE AND COMMERCE.
QUOTATIONS OF THE NEW YORK
COTTON MARKET.

situation OF Tobacco at Richmsnd snd
other Important Cestres-Cotten and
Farm Products Peanut Quotatisns-
miscellaneous.
NEW YORK, Nov. l4.--Money was much
easier to-day. Most OF the business was
done at per cent The highest rate was
II and the lowest 4. The closing was b.
Exchange steady; posted rates, 5000 1856;
actual rates, 1870 47994 for sixty days, and
4sls.@4S5 for demand. Governments closed
steady; currency 6's, llS bid; As, coupons,
l22 bid as do, iOi bid.
The stock market this morning was
weak, although the panicky feeling OF the
past few days had almost wholly vanished
aud matters had about resumed their rou-
tine form. The weakness was attributed
chiefly 20 the unfayorable adyices received
from London and the absence Of buyers in
the local market. The early prices
i'm London were lower, and the
selling for London account immediate
Is after the opening Of the market
made 10 apparent that the financial atno-
sphere in London was nOtyet clear by any
means. The mere fact that the Bank OF
England had found Il necessary 10 borrow
100000 pounds Of the Bank OF France, for
three months at per cent. merely 10 have
fbc gold required for circulation in Scotland
at this season of the year and for other pur-
poses OF reserves for the London joint stock
banks, showed that the situation
had been more strained than fully realized.
10 was known this morning that there were
still rumOrs in circulation here in regard TO
other financial houses. but nothing tangible
could Doe learned. The first prices here this
morning were irregularly changed, twenty
fya stocks having been from =. 10
81 ror cent lower and fourteen IRON
to Ii6 per cent. higher. During
tse forenoon the market was weak and
from 90 rs per cent. lower than the open
fn, rrircs the largest declines having been
I'M Iaclawanna, Northern Pacific preferred,
Western Union, Pacihc Mail, Union Ia
.itr Denver and Gulf OF Colorado. The
i,re-f prices were made in the early deal
i..-4ri fhe lowest about 1915. Pacific
Mail recorded an exceptional decline of 80
North American was the notably strong
STOCK 0n the list, having advanced
81. ,o 10, and reacted 20 l2@l2ll. an ad-
vance for the morning Of -. The sales for
Cine morning amounted TO 224,9O0 shares.
From T. O'Clock until there were trans
in common stock in such large blocks and
such slight changes in price that II
was believed that the loans made
go North American on these as col
lateral were being liquidated by the
lenders taking the stocks, and that
She sales were merely made for the fOrmall-
tvofhaying the transactions got through
fbe stock Exchange. If this suppOsition is
correct il Will be seen that the Northern
Pacific stocks are not likely 10 come upon
fl, market. The Northern Pacific diyi-
dand Of per cent. for the quarter on the
urolerred stock will probably be declared on
irnur.dav. The general market in the two
hours from noon until . o'clock was less
active. but there was general improve
mont iu prices Of 10 = per cent, the latter
in Northern Pacific preferred. Lackawan-
ma. however. was an exception. In the last
hour there was another heavy selling Of
Northern Pacific, and prices broke under
IFS leadership % about the lowest Of the
day. The decline for the day ranged from
90 g.. per cent. and was participated in
D.. an but about half a dozen stocks. The
sales for the day amounted TO 1926
shares.
Within the past few days Sl,5O0,OOO in
gold has been transferred by telegraph from
the sub-treasury al san Francisco TO the
.ubtrcasury in New York. This will be
immediately paid out i'm gold certificates TO
banks here. and will undoubtedly count in
fH..r reserves now. though It Will only show
BOO % limited extent in the statement of the
BANKS tomorrow.