Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-12-22
STATE of thermometer
Mean temperature. .................
NEW YORK STOCK MARKET.


NEW YORK, December 1.-THE action
of the Senate yesterday, in unanimously
nassing the bill providing for the forma-
lion of the Venezuelan boundary COM
mission led to heavy selling again this
morning for foreign account, and TINS
with forced sales by local operators,
led TO a sharp break in prices at the open
ing of the Stock Exchange. Blocks OF
stock for the account OF out-of-town ope-
rators were unable to respond 10 the
calls for margins were thrown overheard
for anything they would bring, ana
this added to the feeling OF uneasnesS.
because there was no way OF knowing
whether the brokers handling the various
deals had been involved. President Cleve-
lands message on the finances sent in TO
Congress did not have the favorable ef-
feet on the market at the start that
was looked for in certain quarters. In
fact, in the first hour prices broke any
where from 1 to 13 points, and as yes
terday, there was no sign Of support
ing orders in any direction. Cordage
guaranteed scored banner loss, sell
ing down - points, . to T.
The failure of l.. Taylor x CO.. OF
Philadelphia, who J connections In
this city, and the nsion Of Hatch
Brothers, and II. X. rras G. Co., Of
the local Stock Exch &c, were an
nounced in the order named, and this
accelerated the downward movement.
After the early slump a steadier tone set
in. and on buying for investment ac-
count as well as for the purpose OF COW
ering short contracts, rally of lao per
cent. followed.
London firms were buyers I'm a mode
rate way. The impression is that the
bulk of the trading for this account was
for the purpose of covering short con-
tracts put out at higher figures.
The recovery in the market was taken
advantage Of by weakened holders TO sell.
and in the last hour new low records
were made for a number of the leading
issues At this time Rock Island sold
down to 50: Pullman Palace TO li6. Man
haitian 10 81, Jersey Central to SO. and
I.ackawanna to 15i-all the lowest OF the
week
The closing was feverish, with opera
tors rather anxious as TO the course Of
The sterling exchange market and the
gold movement next week. Ii was gene
rally agreed that this Is the key to the
situation. Reports were current OF In
formal meetings of bank presidents. and
OF a likelihood OF the closing OF the
Stock Exchange for two or three days
next week, but these reports were brand
ed as pure inventions by persons In
authority The transactions for the day
we're Sl4,95S shares. ali unusually heavy
total for half-holiday.
Tho railroad bond market was de-
messed on further liquidation for both
home and foreign account. Al the de-
cline. local investors bought the gilt
edged issues, and recovery from the
lowest point was recorded, the transac-
tions aggregating s22,o9S.0oo
Treasury balances: Coin, SIS, 622, AS; cur
rency s99,79G.62i.
MONEY AND EXCHANGE.
Money on call offered at per cent,
after being quoted at 25gO. Prime mer-
camille paper 1926 IL.
Sterling exchange irregular, with actual
business In bankers bills at $.S74$i.SS 1-2
for sixty days, and $is9 1-4ffA.Ss l-2 for
demand. Posted rates, SiSS 1-2qH.0 IL
Commercial bills. A.SGsi@ IL
Rar silver, 66 IL. Silver at the board
dull.
weak Railroad bonds depressed.
The sales OF listed stocks to-day aggre-
Gated 2i9 SAG shares. and Of unlisted stocks
653l2 shares.
VIVA BANK STATEMENT
Tho weekly statement OF the Associated
Ranks shows the following changes:
Reserve. decrease. N,SO2,52o
Loans, decrease. S.SH,5oo.
specie. increase. $Seo7p.
Legal tenders. decrease, S,lo4 400.
Deposits, decrease. S.764IOo.
irculs lion, decrease. $1,000.
THE hanks now hold 500 In excess
Of legal requirements.
The Financier says: The extraordinary