The times. [volume] (Richmond, Va.) 1890-1903, 1894-01-21
FlNANCEANDC0MMERCE
rHE CLOSING TJONs OF
MONEY.
Offering. and sales att Richmond To-
bacco Exchange internal Revenue
Collection. AForeign Advices.

NEW YORK. Jan. I'll mas been
many week since wan street ieli as
cheerful "a AZ did to-day. the tendency
81 prices vas inward. and the bulls were
i'm c0utrol IRON the opening 10 the close
OF Inc oase,on Inc reactiOn in the mai
uduiug occaslOned no surprise, as X
quite often happens tuat smah traders
take nrontc ar rne end OF the week rather
than carrv fbeir contracts over SUNDAY.
1ne nr.sr rotng 20 give an impetus 10 spec
uIutl0n inns morning. Was TIE receipts or
higher nrices from LOnuOn ana mONerate
buying orders from that centre. The eN-
ecutlOn OF the iattei developed the iact
thar morn we're rev stocks pressing fOf
$50 In 80 local market. me atd received
from tho forei.ners encouraged the bulls
10 take ALI the more aggressive stand,
and I'M q short time the wnoie list was
on the up tack. lheIe was uisl = Il
mcnf ,Vhich proved 10 be "A most remark
aIle evbfbit The increase IN casn was
Sl} 71,s rpo and IN surplus reserves Slo,-
liO.TI, uftng the amount held by the
banks ia excess Oh thr :" p'l een'' a it a.
reotIiren1onts TO the unprecedented ngure
of xint 81 40 The natural presump-
fion b. maj before a great While this vast
hogrd az idfe money viii seek other chan
ncls for employment, ana tnat the STOCK
Exchange viii feel the Denent or TINS.
Vim money commanding only per cent
ON caU and 10 per cent on time,
hanjr and trust companies prefer 10 pur-
chaee Thoroughly good bonds. which are
on.,tnante at ngures that return per
cont and over. Another bull argument
is the starting up OF the mus ana iur-
naces i'm various parts OF the country.
A factor of considerable Importance is the
ifnnrovemont In railroad earnings. mus
far in January the big systems nave
shown q smaller failing off IN earnings
than was the case In December, ana some
Of these smaller lines even show gains, as
lNtt.- Net TetflitS VIII
20 IN much better than the gross, as
WAGES are lower and the companies are
saving money in other ways. All these
matters nave induced certain operators
to take hold OF the stock market, and
tho concensus OF opinion on the street IS
that n livelier condition or anairs VIII
prevail i'm the near future. In the early
morning Lake shore rose ~, NorthWest-
ern ~. Burlington and Quincy rs, st.
paul =. Rock Island *, General Electric
81 Naohattau IA. Louisville and Nash
Vile a. Missouri Pacific ], New Jersey
Central H.. New DIRK Central IA, Read
ing "a. Omaha T. do. preferred Us, West
9rn Union V, Canada southern IA, Big
-Four Il. Delaware and hudson IS, Mlchl-
gan Central /, Lead preferred "A, ana
Phitsburg and Western preferred |. In
the spe>alties the Erie preferred rose j.
Toward Cne <.Ose Sugar weakened rather
suddenly on rumOrs of probably lsglsla-
ton adverse 10 the company and ceclined
per cent. This, together WIN safes 10
realize profits. led to a reaction in the
remainder OF the list Of sal per cent.
higher from the highest. Speculation
left off steady i'm tone. The sales were
1900 listed and 22vOO unlisted shares.
Railway and miscellaneous bonds were
active and strong.
Money on call nOminally l per cent.
prime mercantile paper, in4l2 per cent.
Sterling exchange steady, with actual
business i'm bankers bills at 4Sl3iG4s5A
for sixty days and 4S6i4n 1864 for de-
mand posted rates, 4S5lgGisIi3; CONNER
cial bills 4sIi, Q4s4h for sixty days and
sSG1lsOis for demand. Government
bonds steady. State bonds duh Rail
road bonds active and strong. Silver NJ
the board was heavy G,OOO ounces selling
at 81.
Treasury Baances-Coin, S59306,OOO
currency, S31 $4,000.
STOCK QUOTATIONS.