Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-12-01
Mean temperature. ................. AZ
NEW YORK STOCK MARKET.

NEW YORK, November 30.-rhe pub
lished statement of President Eiavemeyer.
Of the American Sugar Refining Company,
announcing that owing TO a lack OF orders.
the rsnneries would be closed, led 10 Il
grand rush to sell to-day. An imprt ssion
also prevailed that the directors Will cut
the January dividend at their meeting
early next week, and this accelerated the
downward movement. There was ire
mendous crowd Of brokers around the
Sugar post at the opening. and nearly
every one OF them appeared to have a
selling order. At the sound of the gong
fully 600 shares were offered down to
S. against S6fi at the close on Wednes-
day last. Further sales depressed the
price TO S3is, after which. under purchases
to cover short contracts. a recovery to
A2suS7s ENSURED.
In some quarters there was disposition
to critic.Se President Havemeyer. and 1t
was stated that his action at this time
was due mainly 10 a desire TO influence
Congress and head Off the movement TO
place sugar on the free-lst. Independent
retners, however, assert that the busl-
ness has been anything but profitable or
late, and that HaVemcyer was justified by
trade conditions In closing up the re-
iinerieS
Distilers was another weak spot in the
early trading, and on the announcement
OF proposed reorganization, the price
dropped from to "a. Chicago Gas WIS
next taken In hand. and under pressure
Of long stock fell 2, 70 69A. Tobacco broke
., 10 20. and later rallied TO D'.pyOis.
The heaviness of the Industrial group
was due In great measure TO rumor
that there had been a dedication In one
of the trusts American Tobacco was said
to have been the sufferer but this was
Officially denied. 1t Is i.rlmated that
there has been a defalcatiOn, but that the
securities Of the concern involved are not
dealt in at the Stock Exchange.
The railway list was weak ~ the start,
but then improved J.. 10 = per cent Sub
sequently, the selling Of the Changers was
resumed on large scale. The October
statement of the Burlington and Quincy
was considered favorable at first blush.
but when Analysed IL was discovered that
th- road had been operated for 49, per
cent, and this created a bsarlsh IeelliIs.
The selling which followed the publication
OF the statement carried Burlington and
Quincy down rs. 10 CS+l: St Paul ~ TO
57i2: Northwestern u, 70 ~, ROCK Island
g, to C03s and 81. Paul and Omaha Is, 70
32is New Jersey Central was heavy, ana
fell about points, 10 GA Manhattan sold
down ia. to 1914; Western Union rs, 10
S6i4; Southern Railway preferred rs. 70
353t; Panhandle preferred ga, 70 va; ore
Eon Improvement ?, to lOl2. ana Ioiedo'
%. The W akuess Of the last-named was
due To tha claim that the road would be
reOrganzsj entirely In the interest OF the
bOndho deTs.
The sterling exchange market continue
strong. with rates dangerously near the
gold-exportine point 1t is said that some
of the shippers expect 10 forward gplI
next week. Money was NOR active, now
ever, and this may prevent shipments oil
the yellow metal. Notwithstanding present
predictions.
Stocks closed steady at declines ranging
from J.. to -. pr cent. Tobacco lost go,
Lake Shore gained p. The total SHES
were 2622li.
The bond market was weak. The sales
Of listed stocks aggregated l2J,OCJ shares;
OF unlisted. 1900.
Treasury Lalauc s: Coin. Sll2. 239 go; cur
reucy, SGiSl2 go.
MONEY AND EXCHANGE.
Money on cal easy at lNiia p"r cent;
last loan at |, and closing offered az per
cent; prime mercantile paper, no per
cent.
CO... bid
Sterling exchange strong. with actual
business in bankers bills AZ s. s69li@t4
fo- sixty days. ana N&le"fS for d.
rnqnd: POSTED rates, $iS1H lssia; CONNER
cial bills, 1851 lsd.
Government bonds strong. state DOnds
dun. Railroad bonds vs.7k.
STOCK QUOTATIONS..