Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-05-27
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT DUsI.
NESS CENTRES OF THE WORLD.
Prices OF Money, Bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce, Sc, Foreign
and Domestic.

NEW YORK, May 26.-The stock mar
l1et was notably active and strong in the
early hours of trading to-day. The ami
nation Of the trading somewhat sub
sided after the noon hour on account OF
the announcement of an additional ship
ment of $4,000 in gold tomorrow and on
pront-taking. and some weak spots de-
veloped i'm the list. which served some
what to check the rising tendency.
Prices Of most stocks were, nevertheless,
quite firmly held until the close, and sub
stantial net gains were the rule as the
result Of the days trading. There was
quite a large number Of shares sold here
for London account, but New York re-
ported nothing but arbitrage operations
by professional traders, the higher level
of prices here Offering a sufficient mar
gin Of profit to invite the operation.
There was a marked broadening ten
dency in speculation, many usually in
active shares coming into demand and
gaining in price. The outside interest In
the market, which first manifested itself
yesterday, was again feature to-day,
and various commissiOn-house orders were
I'm evidence.
The fact that the Senate IS actually
embarked upon the consideration OF the
tariff bill. and the belief that the mea-
sures taken TO expedite action by that
body upon the bill will prove eficacious,
were the impelling causes of the more
cheerful view of things taken on the
Stock Exchange. Wall street waits upon
a general trade revival as the panacea for
the ills that ahlict security values.
Traders in stocks act upon the belief that
progress toward the enactment Of the
new tariff law justifies them in discount
ing the good effect expected 10 accrue TO
business i'm general from a definite set
Element Of the future conditions it Will
have to deal with.
Improved railway earnings, especially
from the South and Southwest, are an
encouraging factor. For the third week
I'm MAY the Southern railway shows an
increase in gross earnings Of $ls.50i;
Louisville and Nashville one Of $6l70,
and 81. Louis Southwestern, and Kan
sas City, Pittsburg and Gulf also very
substantial gains. On the other hand
Wabash and Chesapeake and Ohio show
losses. The st. Paul statement for April
was also a disappointing factor. The de-
crease shown I'm gross earnings was SlS2,
22l and in net earnings $35,750. This had
quite a marked effect in checking the
rise I'm values.
Net gains were finally n fraction less
than the extreme advance. but We're the
rule throughout the list. New Jersey
Central was very erratic. but gained IS
per cent. net. Baltimore and Ohio showed
| weakness. on the belief that the company
will default its June interest payments.
and declined / IS to 10 IS, closing near
the lowest.
The total sale Of stocks for the day
amounted TO 1851 shares including
/ American Sugar refinery. 1900; Burllng-
ton and Quincy. 20j0); Chicago Gas. 1860;
st. Paul. 1900; Western Union Tele-
/ graph, 14C0; New Jersey. LOO.
The bond market developed aggressive
strength on large transactions. which are
attributed i'm part to a revival of outside
interest. The gilt lines were in fair re-
quest at advanced prices. but in the mid
die grade and speculative issues the gains
were more pronounced. The aggregate
sales were Sl362. 600. Governments dis
plaved a hardening tendency on moderate
inquiry. The sales were slsO0.
MONEY AND EXCHANGE.
Money on call easy at 11-fQl IL per
cont last loan. IL per cent; closing
offered at l1-4Gl IL per cent; prime mer-
camille paper. 1-204 per. cent.
Sterling exchange weak, with actual
business i'm bankers bills at 1886 7-Sa
siS7 for demand. and at sis5 5-iaS.S5,
for sixty days; posted rates, $Ls5 la
sS and $4SSaASS IL; commercial bills,
$4.Sj ii. ,e>,.,-o. -,
yer. GO: Mexican dollars, a Il.
Government bonds firm State bonds
dull. Railroad bonds strong.