Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-07-22
MARKET QUOTATIONS.
FROM ALL GREAT BusI-
NESS CENTRES OF THE WORLD.
Prices of Money, Bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce, SC, Foreign
and Domestic.

NEW YORK, July a.-The announce
ment that the New York city banks had
determined to place a part of their gold
at the disposal of the government, thus
restoring tho Treasury gold reserve to
ne hundred-million mark. changed the
temper Of speculation at the Stock Ex-
change from weakness to strength. This
had particularly good effect in London,
and earlier cables brought higher prices,
and numerous orders for ST. Paul, Louis
Vile and Nashville, and the railroad mort
cages dealt in abroad. Estimates place
this buying as high as $500 shares Of
stock and $4,000 In railroad and other
bonds.
In addition to these favorable factors,
IL was stated that the banking interests
were at work on a plan by which gold
shipments can be diminished. Various
suggestions have been made, but nothing
definite has been agreed upon as yet.
Even II the conferences on this subject
should come to naught. one thing can
be relied upon. and that is the city
banks will do everything within reason
to help the Treasury Department Some
bankers even want to place their entire
stock at the disposal OF the government,
subject to call by Secretary Carlisle.
This manifestation of confidence stiffened
United States As OF 1925. and the bonds
advanced to ia, gain of / Ii from the
recent low point.
The buying of securities was stimulated
during the afternoon by falling off
in the demand for sterling exchange. and
actual transactions in the latter We're
reported at figures IA per cent. below the
quotations current iat the opening. The
decline in exchange ought TO check ex-
ports Of the metal Thursday, and it
probably Will The gain in stocks at one
time during the day was equal to 1z44
per cent, every prominent issue on the
list participating in the upward move
ment. The Industrials, Changers, and
Internationals, however were most con-
splcuous in the rise.
Near the close the market suddenly
broke izQ3 per cent, Burlington leading.
The slump was generally credited to sales
by a leading bear operator. who has been
unusually SUCCESSFUL u ldle. OLHcI DlS
bear traders stood aloof, however, and
no adequate explanation Of the drop
could be obtained.
Speculation left off Irregular and In the
main weak. The net changes show losses
of 1-49f 3-S per cent, except for North
west, General Electric, st. Paul. and
Kansas and Texas preferred, which gain
ed 1-f11 per cent. Lake Shore, however,
gained 4, and Minnesota Iron 8 per cent.
The total sales were 1853. $50 shares, in
Guiding 5000 Sugar, and 7oiOo st. Paul.
Bonds were firm. The total sales were
s1,2l9.0OO.
MONEY AND EXCHANGE.
Money on cali firmer at 2iAQ3 per cent;
closing, offered at per cent; prime mer-
camille paper, 5lz06 per cent.
Bar silver, 6S 7-Sc. silver at the board
firm.
Sterling exchange easier, with actual
business in bankers bills, at S4.SS for sixty
DAYS. and SISSY for demand; posted
rates. SiSslzqsLsJh; commercial bills,
sASGtGAS71s.
Government bonds FIRM State bonds
quiet; railroad bonds steadier.