The times. [volume] (Richmond, Va.) 1890-1903, 1894-11-28
FINANCE AND COMMERCE
THE CLOSING QUOTATIONS OF
MONEY
Offerings And sales at the Richmond To-
bscco Exehsnse-Intsrnal Revenue
Colleetions-tersign Adviees.

NEW YORK. Nov 27.--DIrlng the
morning hour speculation at the STOCK
Exchange was practically az stanu-
sull, except for Erie ana NOItn"es.Sln'
which we're affected by special causes;
Erie was pressed for sale on the genera
belief thai the statement Tor the year
would bc unfavorable, ana NofthWcsteIH
was inclined to Weakness because OF
smiles by professional traders ana others
who were confident that the dlVidehu
would have TO be reduced. SuDstqucnt
events proved the correctness OF pom
theories There was new ana com
uenuable departure in the method o.
making public the Northwestern uNlutuV'
the railroad officials having CoWIHUHI,
Gated the decision TO the cha'i iiia a,,,,lic
the stock Exchange, who made pup.lC
announcement from the rostTuH 1uaf
previous to 1880 Il. NJ, the tlIhS ast' GO
upon FOR the announcement, DFokeI9
cathered around the chairman, anu
everybody was on the qui we 10 ledII.
the decision OF the directors. - IuIilo o
then got ahoat that the IesoiSI r nSrs
had been declared. THIS started HtI-
NOus short into covering, ana the puT-
chases Tor this account led to rise
from gF,s TO 80 Chicago, Burhngioh
and Quincy St Paul. ana other stocks,
which are heavily oyerSold' also moved
M at this time, Then came the OF
ncial announcement OF the deciarauoh
OF Is, per cent. quarterly on the pre-
ferrcd and ~ per cent. sem-anhuaily
on the common. the latter "a reduction
OF ID per cent for the six months. Many
brokers misunderstood the chairman,
and thinking that the common DIVIDEND
had been reduced 10 ia per cent, sold
the stock They quickly realized their
mistake and bought back their stock.
As result the common recovered 10
~ ST Paul, i'm the meantime, SOLD
down To JSl2 Rock Island to 6l4, and
Chicago. Burlington and Quincy TO 40.
The amount OF long stock sold after
the cut In the Northwestern dividend
WAS given out, and was a disappoint-
ment TO the bears, who have been pre-
dieting heavy hquidauons TO follow this
action by the Northwestern directors
This disturbed the shorts, and In the
last hour OF business general covering
movement set In. sugar moved up
from S0A 10 sos. Delaware and Hudson
from l21ik TO lHl4, New Jersey CentraI
from g4H to 9Tf, Reading from lJM 20
1874. Manhattan from 100 TO lO6k and
Big Four from 3Tl4 TO 3Sl2. The upward
movement WAS stimulated by reports
that the anthracite coal companies had
decided TO reduce the output for De
cembcr and restore prices Tor Drokeh
egg stove etc. other favorable fdc-
tors were heavy receipts OF gold by the
sub-treasury for the new bond issue
So 90 060 having been turned in to-day,
making the total thus far S2u,OOO,u"
the decision OF Judge Jundy IN lhe
Nebraska maximum freight rate lateIy
I'm favor OF the railroads, ana the more
favorable railway returns for the thlrd
week Of November. Erie was hedNy
throughout, and sold down 10 Io4, WIN
"A rally 10 lbs. ne annual ltioA' W.
very unfavOrable. showing a decrease
in gross earnings Of 81. ls4, 59l anu a De
felt OF Sll6T4O7 Speculation closed
strong, with inactive issues anywhere
from ~ 10 % per cent. higher IMAM on
Yesterday Northwestern gained Is per
cent. ON the day. New YORK central q,
Northern Pacific preferred Y, and Erie
l5s per cent Railway bonds were II
regular Just previous 10 the close at
the stock Exchange small lots r., OF !, money
on call lent at > per cent This Is the
highest rate In months, and the advance
is due to the preparations now making
10 pay for the new Government bond
issue The sales Of listed stocks az,
Freeated $4,000 shares. and OF unlisted
stocks 10000 shares.
Money on call easy at l per cent?, Iasi
loan al ] per cent, and closing offered
an ] per cent; prime mercantile paper
.g4 Der cent Bar silver, 62is. Sterling
exchange firm. With actual business ii,i IN
days and 4s3i.Ni>1la for demand; posted
rates ig4alS. com Hne1 ar 6Ills sat- 5SSt
bonds dun Railroad bonds lower. sill
ycr AT the board was G2al bid.