Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-03-17
NEW YORK STOCK MARKET

NEW YORK, March lG-Stocks ruled
firm at to-day's session. the exceptions
being Sugar and D,stil.ers, which We're
rather weak. Sugar opened a fraction
higher. at 9Na but later sold down To-
91t. asa. the rise in certain grades Of
refined sugar announced this morning
failing 10 check the liquidation which has
been going on since the declaration Of the
regular dividend a week ago. Distllling
dropped to III on sales OF 1900 shares,
western houses being the largest sellers.
Railway stocks were exceptionally
strong. The Improvement In the group
ranges from :. 70 l2s per cent. Jersey
Central. New York Central, and the low
priced issues scored the largest gains.
Covering Of short sales accounts for the
rise The fact that the reductions In the
New York Central and ST. Paul dividends
has not dislodged long stock has created
quite a change in sentiment For the
moment the Anthracite and Bituminous
Coalers are In favor the former on re-
uorts that the managers Will meet at an
carly date and settle the question Of al
lotments. and the latter because OF an
agreement just arrived at by the Ohio
producers which, according 10 those In
i.rsStel, l. said TO be- Of tine greatest i'm
portancs e. this trade. Among the low
priced shares, Kansas and Texas pre-
ferrcd doomed into Prominence, selllnS up
T. q, on limitations that the annual re
port to be given out Tuesday VIII be OF
a & vorahle character.
Speculation closed firm, with prices any
who're from ,, 10 IA per cent higher than
yesterdays finals. -
Total sales. 1854 shares. including l75O0
shares OF Sugar Sales Of listed stocks,
5000. unlisted, 24,CC0 shares. Bond mar
fr.e
Treasury balances: Coin, $50 $1,000; cur
rency. $H,35NOV.
MONEY AND EXCHANGE.
Money on call Is nomnally lie per cent;
prime mercantile paper, 4i2Uo per cent
Sterling exchange is firm, with actual
business IN bankers bills az SIS for sixty
days. and SLS9Ll Tor demand; posted rates.
ST. NNig449O; commercial bills, 81 A''4ntH. =
Bar silver 6l',. NJ XiCan dollars ~
Silver at the board. %.
Government bonds firm. state bonds
steady. Railroad bonds strong.
BANK STATEMENT.
The weekly staten MT Of the Associated
Banks shows the following changes:
Reserve. decrease, SlJ,SJ
Lolns, decrease $3.50.
Specie. increase. $1,000.
Legal tenders. decrease N.pI,NO.
Deposits. dccrea5a, S3i3.ip.
Circulation, increase, Sl&.Wl
The banks now hold sl7.5ss - In excess
OF the requirements or the - per cent.
rule.
The Financier says the statement Is
anomalous I'm more ways than one. Some
of the heaviest transactions IN connec-
ton with the hOni-synI!cate deal nave
lust been concluded. and q number or i'm
portant changes should have appeared "a
the statement. although they DO not show,
except in the decrease IN net deposits
This decrease. however. was not cdus u
by the transfer Of gold d the Treasury
from special-depOsitOry banks as these
deposits are not counted In that column
The actual gain i'm specie and the he3Fy
loss OF $1,9G. 80 In legal tenders were a
sunrise The only explanation Is th1i
local tenders were used and are being
used. I'm settlements hy hanks with me
syndicate. The money dil not 20 70 the
Interior. and shipments from that source
were not important enough 10 reflect the
changes In the statement. The heavy
decrease In legal tenders has been going
on ever since the bond operation was
started. and the New York banks now
h1d only Si2W0oD more paper money
tlan god. The reserve Is down 10 %l"-
.lN715 many millions less than the ave
rage carried for two years. ana IN nr
ilrht OF this showing. the harIen,ng IN
money rates IS not strange. WINE the
bond ouau4ti0n has undoubtedly maze tht
bank statement "A weekly mystery. u must
be said in its favor that IL Is using up
the idle money Of the New York banks