Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-11-23
NEW YORK sTocK MARKET.

NEW YORK, November 2.-Naturally,
after Yesterdays developments, the STOCK
market opened excited and feversh. For
a time there was n struggle for control
in Burlington and Quincy. but the bears
were unable to force the stock below last
nights closing Falling in this, the traders
started in to cover and general advance
of A6Y5s per cent. followed. the Changers,
Sugar. and Manhattan being most con-
splcuous In this rise.
Following this there was heavy selling
movement In Northwestern and Sugar.
Northwestern was depressed to 9'as from
9S5s. The decline was the result OF the
prevailing impression that the directors
at their coming meeting will reduce the
dividend rate. While nothing official Is
known, IL was argued that the company
must have suffered with the other Granger
roads, and that II the earnings Of the
st. Paul are any criterion, the North
western has not earned its full dividend.
The traders are claiming that the direc-
tors will not encroach on the surplus.
and that the stockholders will get what
the road earned This, they say. will be
about 2ia per cent.
N
used to hammer Sugar certificates, and
siA to ss,. QssI,. Manhattan. after It's
early advance, Teceded TO 1882, but closed
unchanged for the day..
Chicago Gas was weaker than for some
time and declined ~. to 72s. Close oD-
servers Of the market thought they dis
covered selling Of long stock. Further
liquidations carried Cordage common
down TO 81. the preferred TO liA, ana the
guaranteed to 2l12. These are the LOWEST
figures since the reorganization. when the
common was assessed 10 per cent. and
the preferred $50 per share.
Pullman broke from l57ia to 1o2. on fears
of adverse legislation by certain western
States this winter. II wac also stated that
their customers with the gold necessary
for the new loan, which, It IS hoped. VIII
nut an end to Withdrawals from the
Treasury. Prices moved UP y 10 rs per
cent. from the lowest point OF the day,
Burlington. Jersey Central, Rock Island.
Gas, Missouri Pacific. Northern Pacific
preferred, Southern Railway preferred,
and Union Pacific leading.
The market closed steady. The strength
on exchange continues. ana Is causing I
more uneasiness than the exaggerated
talk about a gold premium. Net changes
show gains OF heflh per cent. for the
usually active stocks. Sugar lost rs.
Pullman 6A per cent. and Northwestern
q. Cordage common closed -. and the
preferred y, lower. The recent selling OF
the guaranteed stock was due to belief
that the dividend payments which were
to begin January lst next will be In
definitely postponed, on account OF the
poor business Of the company.
Railway bonds were weak and lower;
The sales Of listed stocks aggregated
1890 shares; Of unlisted. $500.
Treasury balances: Coin, 81. 10000; cur
rency. $50, 81, 900.
1t was reported late in the day that
after a protracted conference syndicate
was made up this afternoon TO take one
half of the S50,00Q,W0 government loan'
President Stewart. OF the United states
Trust, and his friends to subscribe for
the other half. The new syndicate ~
said 70 comprise the Chemical, the Park.
the Importers and Traders. the Chase;
the Fourth National. and the Bank or
largest holders OF gold. and II they take
the loan the Treasury will be q large
gamer OF the yellow metal.
The agents In this city OF the Bank OF
Montreal will receive 10000 I'm gold from
Canada this week, and $4,000 next week.
for subscriptions to the government loan.
MONEY AND EXCHANGE.
Money on call easy at per cent: last
loan at l. and closing offered at ! per
cent: prime mercantile paper, 3gi per
cent. -
Bar silver, 60. Silver at the board, 63s.
Sterling exchange firm, with actual Dusi-
ness in bankers bills at 1855 ;s6A Tor
sixty days. and Aaikaist. Tor dem ,1,'.
posted rates. Si.S54i4. Ssl2; comlnerciai piiis'
Government bonds steady. State bonds
dull. Railroad bonds. lower
STOCK QUOTATIONS.