The times. [volume] (Richmond, Va.) 1890-1903, 1893-02-24
FINANCE AND COMMERCE
gHE CLOSING QUOTATIONS OF
MoNEf.
Offerings and Sales at the Richmond To-
bacco Exchangc-internai Revenue
Collections-Forcign Advices.

NEW YORK. Feb. 23.-Money on call
easy. ranging from 3h TO 3 per cent;
closing offered at 4 per cent. Prime mer-
camille paper, 0Q6a per cent. Sterling
exchange quiet hut firm; posted rates.
4S704S9t5: commercial bills. 4S5St0lSS.
Government bonds duh and steady;
Southern state bonds entirely neglected..
railroad bonds fairly active and general
~ heavy.
In the stock market the bears are
again aggressive and active, snd their
operations extended to the entire active
list. although the market. especially dur
ing the early part of the day. showed
considerable n~arTOwness and some re-
slstaUce. The event of to-day was the
resignation OF President Parsons and the
directors Of the Now England road I'm
sympathy viii his management, n It's
effect was Immediately 10 intensity the
weakness prevailing In the general list.
The final confirmation Of the control of
Reading in the New England acted. how
over. as a sustaining power In that stock.
and after the opening decline it was well
held within comparatively narrow limits.
Friends of the Parsons management,
however. were liberal sellers OF New
England. and that stock became one OF
the weakest on the list. Reading opened
with a decline OF rs; but at the close OF
the day had recovered u; but New Eng
land closed at it's lowest figure, with n
loss Of Sk per cent. Lackawanna closed
with a loss Of * per cont.. and Delaware
and Hudson. Notwithstanding the divi-
dend, closed "a per cent. lower. Among
railroad stocks the only other special
feature Of importance was the drop in
Northern Pacific preferred. under bear
pressure in the last hour. II closed at a
shade above its lowest. at a net loss Of
~ per cent. The Switchmcn's strike in
Chicago became an established fact to-
day. and was one OF the most powerful
Influences in encouraging the bears in
their drives at the general list. Natur-
ally. the roads centering In Chicago were
the most vulnerable. and Burlington. st.
Paul and Rock Island all suffered de-
clinos Of over . per cent. The most
striking feature. however. was the re-
uewal Of heavy selling in Sugar. the
transactions in which were attended with
Quite as much excitement as those In
Reading and New England. and its price
WAS steadily depressed until AT n5'2 1t
showed a loss Of ~ per cent. The shorts
covered. and "a rally Of 3 points followed.
which was reflected in higher prices all
over the list: but there was a marked
lack ~ support I'm the stock. and the
last price was only q per cent. better
than IT'S lowest. it's net loss for the day
reaching ~ per cent. The other Indus
trials followed at a distance, but were
comparatively quiet, and moved In sym
pathv with railroad shares. All the
leading stocks showed material declines,
Western Union being the only marked
exception; but after an advance Of near
lv I per cent. in the early trading the
general weakness was felt and the entire
Improvement was lost, its closing price
showing a decline of * per cent. Man
haitian yielded mp all OF its late improve
ment, and closed 3 per cent. lower at
157. after selling ut 1881. The greater
part Of the losses sustained were suf-
f.red I'm the last hour. when the market
became nervous throughout and closed
weak and active at about the lowest
point. Salos-Listed stocks, $4,000
shares: unlisted. 1I7.0O0 shares.
Treasury iRalances-COin. $73, 10000;
-,rrencv- SOC nl3 OnO.