Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-11-02
NEW YORK STOCK MARKET.

NEW YORK, November 1.-The stock
market was nervous to-day and responded
quickly TO outside conditions. except for
American Sugar, which acted directly con-
trary to the current news on the property.
The stock was in demand throughout and
advanced from siss to s65., closing at
S5's. "A gain OF per cent. for the day.
The advance took place in the face of
another reduction in refined, making cut
Of &C. for the past ten days The rise was
generally attributed to insiders. who, the
Street has IT. are expecting a favorable
decision in the matter OF the revenue tax
on German sugars.
The general list displayed a firm under
tone, the market recovering quickly from
bear attacks. This contingent hammered
the Changers and New Jersey Central at
times, but they did not succeed in shaking
out long stock as on the previous days OF
the weak The impression Is gradually
gaining ground that the big bears have
taken advantage OF the break in the Coal
ers and Northwest 10 materially reduce
their short lines, preferring TO have their
house in order, so as to be prepared for
whatever the elections may bring forth.
The news to-day generally favored those
operating for higher prices. The Louis
Vile and Nashville September staten mt
showed a net increase Of S2j,Vo; the New
York Central for the September quarter
earned lis per cent. on the stock, which
was much better than expected; the Penn
sylvania declared its regular dividend. ana
the deposit Of Reading securities under
the Earle-Olcott plan was fairly large
The death Of the Car had no effect
Reading securities were in good demand
for Philadelphia account, and an advance
Of to lSs per cent. ensued.
Northwest ranged between 20 and lOoh
and left OFF at lcoh Officials here say the
question Of the December dividend has not
been considered, and will not be until
the full returns for the i've months from
June I. 1894. and the prospects for the nrst
half OF 1893 are known. Another bear ar
gument on the stock was exploded to-day,
the Mutual Life-lnsurance Company nav
ing denied that it sold any Of the stock.
The fact also developed that only one In
surance company in the State holds the
stock. This company announced early In
the week that ii had not parted with any
of It's holdings.
Manhattan was stronger. rising ~. to
lO7i,. The shares command a premium
for use. The sentiment appears to be
changing. and the recent sellers are not
so confident Of their ability 70 shake out
long stock, even If the rapid-translt bill
should pass next Tuesday. Among otner
things. suecula tive sellers appear TO nave
overlooked the fact that the Manhattan
Company is an eligible bidder for the con
tract 10 construct a road II the city de-
ciics to build.
In the late trading sterling exchang'
stifened somewhat, and this led 10 ru-
mors that sorne gold would be forwarded
TO France on Saturday. on this another
attack WAS made on the list. Jersey Cen
t-al running off ~. 10 .39,. and the other
leading issues u to Ia per cent. Nhcn
the selling ceased prices advanced brlskly
and a number Of issues sold at the best
of the day.
Tho closing was firm and a rather conf
dent feeling prevailed. American cotton
oil. after an early rise TO ~, rel = 10
2J1,. The preferred declined Z, TO '3i2.
The selling was based on the report for
The year ended August 81. 1894 which was
presented at the stockholders meeting TO-
day. and showed Il surplus ot 100, ol .
against $507. 75l in 1893 and 81 ,33.Ql IN ISL.
Net changes in the general list show gains
OF /. to . per cent. American sugar lead
ING American CottOn-Oil lost y. the pre-
ferred q. and Evansville and Terre ilante
and American Coal per cent. each. Inc
total sales wera only 1900 SHARES, pul
the business was better distributed than
OF late. ,,,.
The bond market was active and higher
The sales of listed stocks aggregated w.
coo shares: OF unlist a, 1900 shares.
Treasury balances: Coin, S,5,I5ro; cur
rency. $jl74.0O. -
MONEY AND EXCHANGE.
Money on call easy at l per cent. last
loan nj |. and closing offered at /; prime
mercantile paper. SNi per cent. o.
Bar silver, 633s; silver at the BOARD b
Sterling exchange firm. with actual bust
ness I'm bankers bills al <lo,'eN4oi Ioi
sixty days and As,i2alS,a for demand
posted rates. siS7i-@ Lss's; commercial
o' Go,ve er,1r bonds firm. State bonds
dull Railroad bonds higher.