The times. [volume] (Richmond, Va.) 1890-1903, 1892-12-06
FINANCE AND COMMERCE
THE oLos1N CITATIONS or
MONEY.
Offerings and sales at the Richmond To-
bacco Exchan&e internal Revenue
OBSERVATION-DISCLOSURES Advices.

NEW YORK. Dec. 5.-Money loaned at
conn arativcly easy rates to-day, 304B per
cent. Closing rate was per cent. and
the lowest 9. Exchange steady; posted
rates. 4S6llQiSSis; actual rates, 4S5h for
sixty days and 4S7M tDr demand. Gov
ornments steady; cupepcy Gs. l05 bid;
extended 2s. 100 bid; a., coupon, IA bid.
Pacific railroad bonds used as follows:
Union lists l0S bid: o.. sinking funds.
1854 bid Centrals, los bid
The dealings on the Stock Exchange
this morning were or a fairly active
scale. The sales up Il -ooa amounted 10
a little more than 10000 shares. Most
Of this total was made up OF transactions
I'm ST Paul, Western Union. Rock Is
land, Whisky Trust. Sugar Trust Man
haitian, Illinois Central, Burlington New
England, and Northern Pacific preferred
In the opening nour everything was
strong. and, under a good buying nv the
shorts. the whole list advanced. At the
end OF the hour the Improvement ranged
from q TO los per cent. There was a de-
Cidcd change, however. in the second
hair hour An active selling movement
was dcvoped in Northern Pacific pre-
fcrrcd. under which that stock declined
rapidly. Its weakness had a dampcning
effect on the market and prices went
down for most Of the list until noon, at
which hour in many cases the improve
meat of the opening hour had disap-
v.srrl The decline in Northern Pacific
preferred amounted 10 * per cent. The
strength Of the market in the early deal
in.>s was due IN part TO London buying.
The selling Of Northern Pacific preferred,
which broke the market in the second hour
was ON the part of some bear houses.
and DC is believed that IL is a part OF "a
manipulation scheme to cause increased
short interest in the stock. The market
larscd into a dormant state after ~
O'Clock. and there was very little done
until late i'm the afternoon. when the
market suddenly advanced to 80, which
caused something OF panic AMONGST
the bears. who rushed 10 cover their
short interest. This buying &C, elerat"d
the upward movement i'm the stock, and
a- highest point WAS up rs Some re-
aHzng toward the close sent the stock
down TO J6ia. at which IL closed being
au advance Of tx on Saturdays closing
Squire. The granger stocks were also ac-
lively hot eht I'm the late dealings and
ir numerous cases stocks advanced sharp
ly The closing prices. although lucgu-
lar. We're in a majority of cases * per
c.nt. higher. Illinois Central was weak
stock. and, on the announcement from
Washington that the Supreme Court had
decided against the company in the mat
ter of the Lake Front litigation, the
stock broke four points from the highest
price. and closed 2l2 per cent. below
saturdays closing price. The gold eX-
mort matter remains problematic. At the
moment the changes in London discount
rates has reduced the demand for bills,
and Occasioned an earlier sterling mar
ket. LondOns heavy buying in our mar
ket to-day ought. ~ continued. to in
crease the supply of the stock. The hold
ers Of the floating debt Of the Georgia
Central stock who were appointed as
finance committee some months ago, have
had their title changed by the directors
fo advisory committee on REORGANIZATION.
in is understood that the plan upon
which they propose TO reOrganZe the
road has already been agreed on. Some
oil the directors intimate that IL will pro-
vide for the sale Of the road by order
Of the court. I'm order TO settle the Rlch-
moud and Terminal stock ownership ana
10 allow the holders of other stocks 10
subscribe debenture bonds in order 10 pay
off the floating debt The scaling down
Of interest charges is also said 10 be
provided for. There was a fair supply
OF bills I'm the sterling exchange market
to-day Foreign bankers confirm the re-
port that the shipment Of N.WOw goid
had been arranged for by the Spree to-
morrow. but the failure Of that steamer
10 arrive. of course, upset these arrange
merits 1t is not known yet whether any
OF the gold will go out on saturday
steamer. The bankers claim 70 nave al
r, adv sold bills against the shipment OF
goId hut. if a large enough supply, II
snnears they may remit bills instead:
sizes OF stocks for the day amounted
fO~g69 ISL shares.