The times. [volume] (Richmond, Va.) 1890-1903, 1893-10-25
FINANCE ANDCOMMERCE
THE CLOSING QUOTATIOYs OF
MONEY.
bacco Exehange-InternRl Revenue
Collections-Foreign Advices.

NEW YORK. oct. 24.-It is a long time
since the Stock Exchange presented such
a scene Of excitement as IL did to-day.
The transactions were on heavy scale
figuring up 4j2,S1i shares, and the ey-
element ran high. The bears lost heav-
lily yesterday through the phenomenal
rise I'm the Coalers, and were ill-prepared
for tO-days developments. The news
from Washington came in the nature Of
a surprise TO them, and when il was
finally announced that the silver senators
had at last abandoned the field 70 their
opponents, a sort Of panic seized the
shorts. Prices bounded up u a point
at a time In the case of American Sugar,
and II was common report that leading
operator noted for his fine manipulation
Of Industrial properties on the Stock Tx
change, had been caught short or the
stock and had been compelled 10 cover
at a heavy loss. This, 1t was said, &C
counts for the jump In this his stock TO lI ~
question had been forced 10 cover the
stock dropped back 10 1914. Early this
morning IL sold at 97k. Lackawanna
was also erratic I'm its movements. il
opened ] point lower at 16s, dropped
to 1872. rallied TO 1861, and receded 20
165izql6j%. The break to 162 was due
to reports that some OF tho shorts had
made private settlements with the bulls.
II was claimed that the basis was l66.
The general list opened somewhat irregu-
lar, but soon afterward Reading loomed
into prominence and rose on enormous
transactions 20 81. The advance was
accompanied by limitations that the Van
derbilts would take hold Of the property
and eXtricate II from its difficulties. The
whole market moved up with great rapid
ity in the last hour Of business, and when
Sugar sold at 1O4 the excitement was
intense. This was high-water mark for
prices. The extraordinary high price FOR
Sugar brought out a deluge Of long stock,
and as the short interest had been squeezed
out the stock lacking this important
element Of support quickly receded 20
JJlA. While the market closed strong,
the leading shares were not up TO the
best Of the day by any means. stu,
the net gain ranged from y 10 per cent.
In the specialties Nickle Plate first pre-
ferred rose 7 to 81, Evansville and Terra
Haute 10 20, and Minneapolis and st.
Louis preferred 2A 10 32I5. Toledo, Ann
Arbor and North Michigan rose "a 70
IL on reports that the Lake shore VIII
secure control Of the road. People here
who have been Interested In the property
for some time do not credit the rumor.
Sales-Listed, $4,000 shares; unlisted,
$4,000 shares.
Money on call has been easy, ranging
from ~ TO 2 per cent, last loan al
per cent, and closing offered at 2 per
cent: prime mercantile paper SOS per
cent. bar silver. 1875. Mexican dollars,
1877 Sterling exchange is weak. with
actual business i'm bankers bills AT 4S2n
4S2K for sixty days and 4A for demand;
posted rates. 4S2ikdiSii2; commercial bills,
4S1HG4S1h for sixty days and 4S5Hn
1921 for demand. Government bonds
steady. state bonds dull. Railroad
bonds firm. Silver at the Stock Exchange
was more active, 10000 ounces selling
Sub-Treasury Balances-Coin, $50, ST.
900; currency, 81, 026WO.