Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-12-19
Mean temperature. ...............9
NEW YORK STOCK MARKET

NEW YORK. December lS-Buslness
was more active at the Stock Exchange
to-day. but the inactivity was at the eX-
pcnse OF values. From start to finish
the bears demonstrated their ability to
control the course Of prices. They were
favored by developments. such as the
liquidation in New England. the advance
in the rate Of sterling exchange, and the
poor showing Of 81. Paul for the second
week OF December.
The break In New England from %
to 2i5 naturally led to a good deal Of
talk. II was said that Boston holders
we're sellers on account Of internal dis
scnsion. The officials here knew OF no
rcson why the stock should have suffered
such a decline as was recorded to-day
and stated without reserve that the Janu-
airy interest would be met. the bears at
ore time having circulated stories that
the payment of fixed charges due Janu-
airy 1st was doubtful. The stock was
heavily traded in, over 5000 shares ex-
changing hands.
The loss in st. Paul earnings had its
effect on the other Changers. and this
group reached lower figures than for a
long time. ST. Paul fell rs; Northwest
ern. Ia: Burlington and Quincy rs;
Rick Island. =. and st. Paul and Omaha,
Is per cent.
The trunk lines were also weak, par
tcularly for the higher-priced Wander
bilt issues. New York Central sold down
l. TO 1907. for regular. 1t brought 99A.
sellers. sixty days, and was offered at
9S24. sellers. ninety days. The stock was
influenced by rumor from London that
81 h. 60 col ~
s., 600 900 new 4 per cent. bonds to pay for
the New York and Northern and other
acquisitions in the shape Of Improvements.
Lake Shore fell rs on sales OF i,4l5 shares.
Last week the total transactions in the
stock were 2,2l5 shares. In the Anthra-
cite Coalers, Jersey Central and Lacka-
wanna were without sale. Reading and
Delaware and Hudson. however, were
weak. The former declined l, to lSis, and
the latter 2i4. to 1914.
Early in the day Whiskey and Sugar
were strong. scoring advances of y per
cent, to t2S5s and So, respectively. The
early strength of Whiskey was attributed
to the decision rendered at Milwaukee
sustaining the concerns rebate system.
There were undoubtedly heavy liquida-
tons to-day, but the best opinion Is that
the market is heavily oversold. and this
is corroborated by the premiums COM
manded by the leading issues. The bears
are basing heir deals on the theory that
Congress Will be unable to dispose OF the
tariff question for some time 10 come,
and the likelihood OF good exports as
we'll as poor railroad earnings on the
other hand the bulls are pinning their
faith TO easy money, but are not active
by any means.
Later in the day J. Plerpont Morgan
and Third Nice-President Webb denied
that the New York Central intended to
make a new bond issue, as rumored from
London.
There was a disposition to cover short
contracts near the close, and a rally of
liNlis per cent. ensued. The sales were
2i3.0O0 shares.
In the active stocks Consolidated Gas
dropped So: Nashville and Chattanooga,
4: Morris and Essex' 2lb; Alton and Terre
Haute 2 and Wheeling and Lake Erie,
H. TO 1872.
Railway and miscellaneous bonds were
weak.
Treasury balances: Coin, $50, 1872 O2o; cur
rency, S27,SSIOl3.
MONEY AND EXCHANGE
Money on call has been. easy. ranging
from l to ~; last load at ~, and closing
offered at ~ per cent; prime mercantile
paper, 3xafh per cent.
Bar silver, SOS; Mexican dollars, 56lz.
Silver at the board was neglected.
Sterling exchange firm. with actual bust
ness in bankers bills at A&Iaa4S4&t for
sixty days, and N.N for demand; posted
rates. aS5; commercial bills. SL8EaLS44
for sixty days, and $iS6QtS6h for de-
mand.
Government bonds steady. State bonds
dull. Railroad bonds lower.
STOCK QUOTATIONS.