Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-11-01
MONEY SCARCE.

Among the most powerful OF these was
steady growth Of scarcity of money 10
loan. owing TO the fact that the day was
Friday, and also the end of the month
Preparations for the payment of coupons
and interest for tomorrow caused the
withdrawal Of large amounts OF money
from the market, and as a rule OF
the Stock Exchange makes oil loans
run till Monday, there was more than
the usual demand, and rates on call were
run up to 80 per cent. in the afternoon.
The newso the day hayinga bearingupon
the railroad situation was almost entlreiy
favorable to a rise in prices. and the
forenoon's operations accomplished that
result. but the improvement could not
all be held. and most of il was lost.
EXCITEMENT N SUGAR.
The central feature Of the market was
again sugar rcfneries, and the pubhca-
ton of the financial statement last night
was the cause of large crowd IN the
stock this morning, in which consider
able excitement was shown for the irsl
hour. There was evidently q wide dli-
ference OF opinion as to the merits OF
the showing, aud brokers were trying to
sell the stock at 65 when others we're
bidding as high as 6Si FOR it, which lot
ter quotation was recognized as the
official opening price. Selling orders
abounded, and before the first half hour
was over the price had been depressed to
&C. Supporting orders from insiders,
however. caused full rally later and tho
price was well sustained until the close
Of business
RAILROAD STOCKS UP AND THEN down.
In the forenoon the temper OF the
room WAS undoubtedly bullish on rail
road stocks. and the opening figures
were all from to per cent. better than
last nights prices. Further Improve,
ment was slow until toward noon and
the business done was extremely small,
but in the Grangers, Chicago gas, Louis
vile and Nashville, and North Amorl-
can there were gains Of from TO II per
cent. recorded The tightness of money
began to tell upon prices then, however,
and later there was report started thai
the Reading pool had been dissolved and
that the stock bad been distributed,
which carried with it the assumption
that the weaker members Of the pool
would be forced to hquidate. This
caused a sharp attack upon Read
ing and it yielded over Q per cent to
34i, with slight yielding in the general
list. Later it was reported that the pool
meant was not the great pool which
holds control OF the stock, but a small
affair. and final dealings saw some 10
action III the stock.
THE CLOSE DULL AND STEADY 10 FIRM
The inactive shares were utterly do
void OF feature, aud the market finally
closed very dull and steady to firm, gen
orally at insignificant changes from
first prices, and in most cases
small fractions better than those OF
last evening. There were few declines,
but Reading is the only one Of impor'
lance. its loss being ! per cent. while
sugar refneries and Chicago gas ere
each up u, Louisy lie and Nashville Z,
and Pacific Mail l per cent. Sales Of
listed stocks 155, 900 shares Of uniist
ed, $4,000.
MONTY AND EXCHANGE.
Euening.-Ezchange quiet and easier
at 4Slai85l. Money close at 6a3O las
loan at %, closing offered at 80. Sub
Treasury balances-Coin, 9l45, S66, GOO
currency, s., OBJ, 900. Governments dull
but steady; per cents, 1919; Al s.
1044. State bonds neglected.