Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-10-01
NEW YORK STOCK MARKET.

VIEW TOnh , OON WNNNC''
NEW YORK. September 30.-The event
which in anticipation has disturbed the
stock market 80 seriously and for so long
came actually 10 pass to-day. the directors
OF the Missouri Pacific formally passing
the dividend for The quarter. Not only
was the dividend not earned. but there
was an actual deficit, and the effect upon
the stock of the company was OF CORE
spending character. The influence which
this event had upon the remainder OF the
list, however. was not commensurate with
It's effect upon the stock Of the Missouri
Pacific. as the list refused to follow 1t on
its downward course. though the pro-
missing strength which had been shown IN
the early portion of the day was checked.
The early dealings responded cheerfuiiy
to more encouraging cables from abroad
coupled with higher prices for American
stocks in London and some buying for
foreign account in this market at the
opening. Imminent arrivals Of large
amounts of gold also had a material iniiu-
encc in making better feeling in the
first time in several days a conservatiyeiy
builsh feeling pervaded the room.
FIssr PRICES BITTER.
First prices, under the stimulus OF these
influences, We're from 10 = per cent.
better than those Of last evening, although
Missouri Pacific was down Z. Ii took the
lead N the early advance, however. rising
~ per cent. On desire among the shorts
TO cover ~ tho concessions. The bears,
however pressed it for sale vigorously and
1t lost the Improvement, tho movement
chcc king the advancing tendency IN the
re-t OF the list. Erie, Atchison and North
| crn Pacific preferred yielding fractions, but
Hooking alley aud a few other speciaities
| like New York. Susquehanna, and western
ma le material gains. he general list
later recovered its tone and the upward
| movement made some progress, whon JUST
| after noon the announcement was MADE
that the dividend mad formally been pass
| ed.
THE MARKRr HHsITArRD
and soon Missouri Pacific began TO drop
| and its decline did not cease until well
| into tho last hour, when 1t had touched
| 80 &C. This drop, however. proved the fac'
| that the general market Will break away
| from ali disquieting influences, ~ the Isl
| refuse 10 follow Missouri racine ulNll
| though Union Pacific. rs was natural
| showed considerable weakness under The
pr, ssuro a The time. The selling Of Mis-
| sour Pacific. however. had IL little the mp
pearance OF liluidatlon, and late IN the
day there was material rally, although Il
| finally closed at close tn its lowest hgure
| nesIdcs those menti ned the PIttsburg
| Cincinnati, Cdicago, and ~. LOUIS stock'
were again very strong, tie common rising
| over per cent.
TIE CLOSE QUIET AND FAIRLY STEADY.
| Outside Of tho activity IN st. Paul
| Union Pacific. Atchlson. Erie, and the
| Changers there was little feature to ihC
trading IN the general list and the market
finally closed quiet and fairly steady at
! close to first prices. The final chang
are small and irregular, but Missouri Ia
cifc Is down ~. while New York Susque
| hanna. and Western preferred Is up II
SalcS listed stocks, 800, 900 shares; unIlst
| ed. 1900.
! MONEY AND EXCHANGE.
ErenjnJ.- EXCHANGE active and steady n
4slaisl. Comm-rclaI bills, E9a4Sls4. None
ens. AT SAP. closing offered at q. sun
Treasury naiances-Coln. : a. .l5I 900 cur
Iency. -li.s,U.0Jj. Governments dull uu
irmtr; 4 per cents, IL. State bonds en-
| ilr ,ly neglected.