The times. [volume] (Richmond, Va.) 1890-1903, 1897-08-20
FINANCE AND COMMERCE
THH CLOSING QUOTATIONS or
MONET.
onerines and Sales AZ the Richmond Tos
baeco E1chango-Internal Revenue
Collection Foreign Advances.

NEW YORK. August 1o-Tho stock
market to-day continued 90 show itself
tensatyc 90 unfav0rabic influences 20
marked degree AT no tirno during the
0av did the course Of prices indicate any
oppressive strength. The liquidation az
times was quite heavy especially IN me
International and grangcrs The principal
factor in the situation was tie fenVy
ceiling for foreign account Of wheat,
sales for that account being estimated
at between 1000 900 and 100000 Dusheb
1or the t1Y. SO much stress mas bteh
laid f0r several weeks past on tho or
cign need Tor our grain crop as RNing
the best assurance for prosperity 70 lht
farming population, and better times lot
an. that 30 was bat natural that depfes-
Eion should ho caused by the disposition
ot foreigners 20 soil back 10 ne the "heat
they have purchased This development
IN the situation gave the greatest aid 10
The professional bears who have becn
working $50 pcrsistoutly for a reaction IN
the price OF stocks. They were also rs
sisted hv Tho rcactionary tendency IN he
London stock market. which embraced All
securities. including American railways
QUA which was due 90 hoft.iitics which
have broken ont on the India frontier.
London gold quite heavily In This mar
kff. Another decreasing influence was the
reports which are industriously kept in
circulation ~ continued cold weather IN
tho West. causing danger Of a lesfened
spring wheat crop md q delay IN the
fNUNnIIIN Nf INC corn fiNn. \ ne fWuiNt u
rho exchange market to-day caused dis
, appointment 10 those who have been look
fnc forward so carly imports Of gold os
600 additional bun factor In the STOCK
20 orkft Actual rates for both long ana
short sterling TOeo about lie. in spite or
tho fact that tho open market discount
in London showed am easter tonc. and
that tno Bank ~ England rcfrained from
advancing its minimum rate Of discount
to-day.
The foreign selling OF grain and the
selling Of American securities for for
Cirn account helped 20 stinen exchange
rate. The failure of tho Bank OF Eng
land to advance its rate OF discount IS
regarded ae evidence that no fears are
ftit ~ am immediate decline OF gold from
London These combined causes effected
quite I'd marked reaction I'm the price Of
STOKE generally. and this was accelerated
hv the discovering ~ stop orders. But
Tie selling movement seemed 90 lose It's
force in short time, and the market
turned into extreme dullness. support ng
orders wore found 60 be forthcoming az
tho low point and those who had solo
ont apparently wanted TO NY stocks
arafn and hold for rise. Sugar was
quito "a prominent feature. and touched
a n0.v hieh record at 100. aiding mate
ria'v in rollying the market II sold on
0rdin 80 near the lowest buying de-
mand for the coalers late IN tho day
was also ~ material assistance In raising
prices from tho low point, as was also
q sharp rlso IN the trices OF local gas
stocks The bears faided tho market
again iust NJ tho close. causing prices 10
case Off after the rally. Nevertheless.
not losses though general arc for the
most part small Good traffic earnings
for tho second week Of August by the
Southern railway. Chesapeake and Ohio,
Chicago Great Western and Louisville
and Nashville gave q hrmer tone TO those
stocks. and helped TO steady the market.
brooklyn Rapid Transit showed strength
ou nccount of the plans for crossing
brooklyn bridge.
Tho total sales Of stocks to-day were
c21 1Ft shares. including Atchison pre-
forrod. 1902 Chesapeake and Ohio.
f21 Chicago. Burlington and Quincy,
% $50. Louisville and Nashville, S.2lW
Missouri Kansas and Texas preferred
$40. Northern Pacific. $500; do. pre-
ferrcd. 1920. Reading, ~ 600. Rock
Island. 10 1913. 81. Paul 32n0j, southern
ronwav nroforred. 743G; Texas and Pa
ciGc 3720: Union Pacific. 900; Sugar
oc g50: Chicago Gas. 1925.
The bond market yielded on moderate
rcaliratlous IN the speculative Hens. The
weakness in the general market was not
pronounced. and in the late dealings q
better tone dovoloncd. Tho aggregate
falca were 1890 600.
Govcrnr I { bonds were casy 40 the out
rot. but turned up and closed steady.