Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-09-25
NEW YORK STOCK MARKET.

NEw Yo8K. September 24.-For some
time there have been uneasy feelings over
the course sf the Gould stocks in the
speculation. they having been sluggish
when everything else was moving up
smartiy, and the intention OF their mana
gers IN regard to the upward movement IN
prices came to be regarded with suspicion.
if not with q wholesome fear 1t began 70
be noiscd about some days ago that the
next dividend would not be paid, but in
view Of the prosperous state OF the Dull
market little attention was given to the
rumors. The assertion was made THIS
morning. however, that officials of the
company had stated that there would be no
dividend, aud the deterring OF action on
the matter was looked upon as tantamount
10 the truth Of this assertion.
SURPRISE. EVEN CONSIDERATION.
The announcement caused ageneral sur
prise. and for a short time CONSERVATION,
while the immediate effect upon MISSOURI
Pacific and the rest Of the Gould stock
was decidedly demOrallzing. and while the
whole market felt the depressing effect. ~
was surprising how stubborn the resist
| anco TO the bad break was and how quick
| ~ many stocks recovered when gwen
chance to show the strength of the pres
| ent onward movement IN prices. Inc
Missouri Pacific officials were cautious
| and retlcent about giving reasons Tor not
| meeting the dividend, but the feeilng IN
the street vas general that the true cause
| Is that the Gould party Is not III sympathy
with 40 advancing market.
THE orENING IRREGULAR AND EXCITED.
The opening was irregular and excited,
| the weakness IN Missouri Pacific was most
pronounced at the outset. and per cent
| was knocked off ITS price within the mrs,
| hour. The rest OF the market was dragged
| down. and while the decline was STEADY
under pressure to sell from the frightened
| holders and the triumphant bears, tue r.
| sistance. III view of the nature OF the de-
pressing force, was remarkable over
| 400. 0cO shares changed hands In the fore
! noon. and after that time there was com
paratiye quiet in the market with some
slight recoverles. although the market re-
NAMED ievcrsh throughout.
IRitFs NELL AWAY.
In the last hour. however. there was o
renewal OF the depressing influence ana
the transactions again assumed enormous
proportions. whllo prices melted away
rapidly. Missouri Pacific took another dip
and touched %. against a last evening;
whio Union Pacific dropped 70 20 and
many others, including Lac sawanna'
showed marked weakness. Stocks which
had throughout the forenoon resisted the
| decline now gave way, and CANADA
southern tell away per cent. from us
| best figure. The general feeling on the
| street Is that as soon as the hrs'
| fleet Of to-day's developments il over the
& . ,.., ~ trfI loose
| Could stocks, as they showed to-day the
| utmost reluctance to follow them. and tht
upward movement will he continued with
| out them. Even today this tendency was
shown, there beng large outside buy NJ
Of such stocks rs -. Paul, Rock Island
| Lake shore. Wheeling and Lake Erie PR
| ferrcd. and Burlington and Quincy. me
| dealings to-day Were almost wholly IN th'
| Clouds. Wizards. and Changers, the gene
raj list. which was widely traded III. being
| quiet and comparatively well held.
| TIE CLOSE ACTIVE AND WEAK.
| Tho market. however. under the con
| tiuuei pressure closed very active ant
| weak at about the bottom figures of the
| dav. The losses were very material anc
| significant among the leading shares
Missouri Pacific showing q decline 10
| night of o. per cent, Union Pacific. 80
| Wabash preferred. 2t; Cordage. 3,
| North American and heading. each q,
| Lackawanna, 2ez; Canada southern. y.
, AtcaSon and Burlington, 2E, and Tn
| others smaller amounts, but generally be
tween / and 2pcr cent. sales OF liste'
-tocks. 732. 900 shares OF unlisted, 10000.
MONEY ASD EXCHANGE
| Er,1.ing.-E Exchange active and weak u
| isls4si. Commercial bills. 4i94a .
| Money easy a. 5fS. closing nj e. IN
| Treasury palances-Coin. : 3i77,0OO cur
rency. Sl5.siA0JJ. Governments dul
| but steady. 4per cents. IL -. State bond