The times. [volume] (Richmond, Va.) 1890-1903, 1894-12-01
FINANCE AND COMMERCE
TIE CLOSING TONS or
MONEY.
Offering, and Sales at the Richmond To-
bscco Exchangc-Intsr Rsl he'saae
Collections--ForeIgn Adsices.

NEW YORK. Nov. 3O-The published
statement Of President Havemeyer. or
the American Sugar Refining company,
announcing that owing 10 lack or
orders. the rehneries would be closed,
lei TO a grand rush 10 sell to-day. IN
impression also prevailed that me Oh
ltCtoVs Will cut the January dividend
at their meeting early next week, ana
this accelerated the downward move
m1ut. There was tremendous croWl
OF brokers around the sugar post az
tic opening. and nearly every one OF
them appeared 90 have a selling order.
Al the sound Of the gong fuzzy 6-~W
shares Were offered dow TO -, against
So. at the close on Wednesday last
Further sales depressed the price 10
Sok, after VIII b, under purchase 70
cover short contracts recovery 10 NtS
ass cIsncd. IN some quarters t me-,
y as disposition to criticlIe ILes!NTTit;,
H&Ncmeycr and 10 was stated thlt ms
acticn al this time was que MANY
to desire TO influence congress oiL
head of the movement TO place sugar
on the free list Independent rehheIs
however. assert shat :he business mas
been anything but prohtable OF idte'
and that H9Vemeyer was Jusuntu ny
trade conditions in closing up the re-
frsrtfs Distillhr was another weak
spot In the early trading, ana on me
lion. the Uricc dropped from 10 ~.
Chicago Gas was next taken IN mana;
and under pressure or lohs stook' Ie'i
. TO u.s., Tobacco broke TO 80, and
later rallied 10 aUt, qgol3 The heayness
~ he iD5 3striql group was due In n
crcaf measure 20 p rumor that there mad
been a dedication IN one OF The trusts.
American Tobacco was sald 10 nave
hon me. sufferer. but this was officially
denied ~ is estimated that there has
been = defalcation. but that the securi-
ties OF the concern involved are not
dealt in at the stock Exchange. The
Railway li~' was weak at the start, but
then improved D, 10 * per. cent Sub
ss1ucufIv the selling OF the Changers
October statement Of the burlington
and Quincy was considered favorable
az first blush. but when analysed it was
discovered that the road had been ope-
rated for i94> per cent. and this created
a bearish feeling. The selling which
followed the publication OF the state
down ~ 70 e>1,. ST. Paul * to 57i4 North
western p. 20 %. Rock Island 3. 10 oY',,
and ST Paul and Omaha = TO 3ZN. Ne"
Jersey Central was heavy ana teli apout
. p6.lts 10 g2is Manhattan sold down
Is, TO 1914 Western Mon IS To Soy,
Southern Railway preferred IN TO 3''l,
Panhandle preferred ga TO ~, oregon
Improvement 2 TO 1oi3. and Toledo Ann
Amor and North gNichiCau ~ TO pa.
Tho weakness Of the last named was
due TO the claim that the ROAD "ould
be- reorC8nized entirely I'M lhe lhlereS'
Of the boudholdcrs. The sterling ek-
change market continues strong. win
rates dangerously near the gold export
ing point ~ Is said that some OF tle
ShlUVCTS expect 10 ioiWaIH Solh il'N'
week Money was more active, now
ever. and this may prevent shipments
OF the S~lIow metal notwithstanding
present predictions. stocks closed stetly
st declines ranging from X 10 rs per
cent Tobacco lost AZ, Lake shore
gained q. The total sales were -tZ,St4
shares The bond market was weak,
sales Of listed stocks aggregated l25,OOJ
shares. unlisted. 5000 shares.
Treasury Balances Coin, Sll2, 239O 600;
currency SG4 $4,000.
Money ON can easy at lHll2 per cent,
last loan at I per cent. and closing OF
ferod at per cent; prime mercantile
paper. 44I por cent. Bar silver, 6-'4;
Ste-liug exchange strong, with actual
business i'm harkors' bills at fSGIuiNGA
for sixty days and 4sTiqn4SS FOR demand;
poeted rates. asa 4SNia; commercial hills'
A.. f4SG Government bonds strong
s.. bonds ann railroad bonds weak.
silver at the board was G2i, bid.