Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-12-04
Mean temperature.
NEW YORK STOCK MARKET

NEW YORK, December 3-American
Sugar led the list in point OF activity TO-
day. the sales of the stock footing up
102, 200 shares in a grand total of 23i,Il
shares. 1t opened at SjA, fell to dAs.
jumped to Ss2,. dropped to s224. and raj
lied 10 SiA0SB. The early rise was due
to the announcement that the manage
ment Of the company had thought better
Of it's original intention of a complete
shutdown OF the relineries, and had or
dered the resumption of work at the VIII
lamsburg plants. This induced consldera-
bic buying of shorts to cover. but when
the Presidents message became public,
there was "a rush to sell, and the stock
fell to the lowest point for a long time
past. Rumors about the dividend which
Is to be decided either Wednesday or
Thursday. helped TO keep the stock fever
lsh Insiders are said TO be at logger
heads regarding the rate. In usually we'll
informed quarters, II Is believed that
Havemeyer's interest favors a reduction.
and that thay will carry their point. now
that President Cleveland has come out in
such strong terms against the company
Chicago Gas and Lead were heavy, on
foundations the former selling down to
Csst, and the latter 10 37A. Gas was In
fiuenced by rumors OF a reduction in the
dividend rate, and Lead on the belief that
Congress would reduce the protection en-
joyed by the smelling interest. The pre-
ferred dropped l's, to 1874. :.
The general market was weakened In
the early trading by the advance In
sterling exchange. which revived the talk
about gold exports. A number OF bankers
now assert that the chances favor ship
ments Of the yellow metal this week: The
early decline averaged y cent After a
while the market cut away from the IN
dustriaIs and moved up all along the
line, the views OF President Cleveland In
his message to Congress on currency re-
form having been we'll received.
Covering of short contracts attracted
most pronounced in the Changers. one
firm having bought about 1000 shares
~ Northwestern. This concern has been
picking up st. Paul and Northwestern
recently, and allowing FOR matched orders,
manipulation, etc. 1t must have secured
n round amount of the stocks OF late.
Whether this means a change OF front on
the part of the bear operator who has
his account with the firm In question re-
mains to be seen. a.
The Improvement IN tne generai ust
ranged from 4 to ~ per cent, North
western leading The market was
strengthened in the late dealings by the
announcement that the Lehigh Valley
road had agreed to reduction In output
for December, and to tidewater-line and
other prices. This was accepted as mean
ing that the independent operators had
been brought into line.
The market closed firm, with the excep-
tion OF Sugar. Net changes show gains
az K0fls4 pr cent. Lackawanna gained
2H per cent on light trading. Sugar lost
2it. the preferred Y; Lead preferred, IN
Pacific Mail, Is. Tobacco recovered 8, to
Railway bonds were firm and moderately
active 4,
The sales of listed stocks aggregated
,95 900 shares; of unlisted. 10000
Treasury balances: Coin, sll3, $4,000; cur
rency. S666sl.Op.
MONEY AND EXCHANGE.
Money on call easy at lGlh per cent
last loan at /, and closing offered at per
cent: prime mercantile paper. 3kQii9 per
Bar silver, SIS. Silver at the board.
62s. ~. a,
Sterling exchange strong. with actual
business In bankers bills at A.S6Ag4. 81
for sixty days, and sis7&q4.sS for de-
mand: posted rates, A6l24iss; CONNER
cial bills, S4.S5h 44s6i4.
Government bonds firm. State Donus
dull Railroad bonds higher.
STOCK QUOTATIONS..