Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-01-08
NEW YORK STOCK MARKET.


NEW YORK, January Speculation
at the Stock Exchange was nervous ana
irregular to-day. Business was on a
smaller scale. however. the transactions
amounting to 2e5,ls5 shares. against s14.-
l0S shares yesterday. There was an ap-
proach to Generalization at the opening.
owing to lower cables from London, the
execution Of stop-loss orders, and sales
by local commission-houses The break I'm
the active issues at this time ranged
from IL TO 2 "a per cent, Pacific Mail,
Big Four, Consolidated Gas, the Changers,
and the international issues leading.
Some Of the specalties, which are rarely
dealt in, scored even heavier losses on
light dealings
The decline in the general market was
checked in the first hour. strong houses
having turned up as buyers OF the stand
ard Issues for investment. London subse-
quently bought literally of st. Paul and
other international issues
The foreign buying OF st. Paul was on
a large scale, some estimating II at fully
1900 shares.
The local short interest, which has be-
come quite heavy of late, because of the
bond-issue development, and the uncer-
tainty which ii is thought must exist in
financial circles until the matter is final
~ settled, became alarmed at the Lon
don and commission-house buying, and
endeavored to cover. The result was a
rise of anywhere from 1-2 TO 3 Ii per
cent
sold as high as 50.
Sugar was benefited by Washington ru-
more that the Senate will not tamper
with the sugar tariff. after all.
In the afternoon trading some highly
sensational rumors regarding the Euro
pean political situation were circulated
One story was that the German Ambas-
sador had been fired on in London. The
rumor originated here, was telegraphed
to Boston as a report current on the
board, and was later sent from Boston to
New York as an actual fact. OF course,
there was nothing in 1t.
The gold Withdrawals had little more
effect In the last hour. The Withdrawals
and engagements OF the metal for export
were reported at $4,000. This total in
cludes the 10000 engaged by Lazard
Freres last week. but held here subject
to foreign orders by that firm. Against
this there were deposited $1.00OOU gold
In exchange for greenbacks by various
city banks and bullion dealers. OF the
gold withdrawn $.5000O. and possibly
$500. 900. may be forwarded tomorrow.
The sensational rumors and the gold
movement resulted in reaction of 1-4d1
pr cent. In the general list. and l-2 per
cent. In Tobacco. Speculation closed bare
~ steady In tone. Net changes show
losses OF 1-SG2 is per cent In some Of
active stocks. and gains OF 1-Sai-2
per cent In others.
ST. Paul, which was the most active
stock, figured for $3.50 shares. Sugar,
which came next. sold for 400 shares
and Burlington was third. with 1890
shares.
Bonds were weak. The sales footed up
s.. So. 200.
Treasury balances: Coin. sse.si2.iSs: cur
rency. So, 64S1.
The sales to-day OF listed stocks aggre.
gated 2oss5l shares. and Of unlisted stocks
55,225 shares.
MONEY AND EXCHANGE.
Money on call easy At 1f7s per cent. I:
last loan. and closing offered At l per
cent; prime mercantile paper. 76s per
cent.
was dull.
sterling exchange easier; actual buei-
ness n bankers bills at nm 1-363lo7 -
for sixty days. and he9g340 ~ for de-
mand; posted rates. H.8 1-36$LQ; COM
merciaI bills. Nes 1-2dei-N II.
Govefuuent bonds nun. State bonds
lovck. Railroad bonds weak