Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-10-24

NEW YORK, October 23-It was n
field-day for the bulls at the Stock Ex-
change. Business was heavier than for
a long time past footing up Si,S5s shares.
and the excitement at this ran high.
The radical change In the temper OF spec
ulation was due to developments In the
anthracite coalers
The announcement that J. w. Davis
Il Co. Stock Exchange concern. had
transferred 5000 shares OF Delaware,
Lackawanna and Western IN the name OF
William X. Vanderbilt was general
surprise to the street. II Is said that the
Vanderbilt Jersey Central interest In con-
junction with Frank Work, OF Work,
Strong 4 Co.. can now dictate the policy
of the Lackawanna. An understanding
has been reached whereby the LaciSa-
wanna Will be operated az a new trunk
line. with the Lake Shore and Nickel
Plate as Its western connections. The
Grand Trunk will not enjoy exclusive
privileges over the I,ackawanna, and rates
are likely to be more stable So far as
the rumor as To a coal combination like
the one attempted by Mcleod IL con-
cerned. 1t IL said by people In a position
TO know that the Vanderbilt policy as de-
veloped 10 date Is against such procedure.
Hints had been given before the opening
of the board OF the deal. and the early
hours OF business were devoted to picking
up Coalers AZ cheaply as possible. When
the Vanderbilt purchase was announced.
prices for the Coalers fairly SCARED. Lack
awanna jumping III. to l71a: Delaware
and Hudson 5. to 129. and Reading .. TO
1888. Subsequently, Iackawanna fell AZ,
to l6I, and Delaware and Hudson "a. To
1854. on the other hand the low-priced
Coalers. such as Reading and Susque-
hanna and Western. held their strength,
and scored the best figures OF the day
I'm the final dealings. Reading moved up
In the general list a feeling of disap-
pointment prevailed at the opening on ac-
count OF the dilatoriness Of the Senate,
law At the opening there was n recess
sion OF A0lA per cent. but the buoyancy
OF the Coalers soon put an end 10 what
ever hopes the bears may have entertained
OF precipitating a general decline.
The Vanderbilts were the first to feel
the influence OF the rise In Iackawanna
and kindred stocks, and the Changers
were good second. Lake Shore bounded
up =, Nickel Plate; x; first preferred
~; North western. ~: ST. Paul i% 8nd
Burlington and N"incy ~
Among the ndustrials American Sugar
led all Others ss IN point Of sc,iyiy erd
7.73l shares. ChAcago Gas and Cotton
were also firm. but Distilling and Cattle
/ Feeiing shows evidence OF recent selling
for the long account. undsr cover Of un-
favorable reports about congressional aC-
ton. etc
In the closing dealings the market was
strong. The net gains for the day ran Eed
from Isds per cent. the anthracite cal
stocks leading. Sales. listed, 2S9 90 shares
unlisted 5000 shares.
Treasury balances: Coin. So IS, 600. cur.
rency. 81 2ls.o0o.
MONEY AND EXCHANGE.
Money on call has been easy. rangi ~
from to .; last loan at ~. aud CLOSING
Offered at p Prime mercantile paper. 6l''
per cent.
Bar silver. 73A; Mexican dollars, 5SAs
Silver at the Stock Exchange was neg
| lected.
Sterling exchange steady. with actua
| business In bankers bills at 81 seat Si
/ for sixty days. and NSAmist for de
mand. Posted rates, 81. sAqtA for De
mand: commercial bills, AS2A44s 2i2 fo
sixty days. and HslhdlsSla for demand
| Government bonds lower. State bOnd
| dull. Railroad bonds buoyant.