The times. [volume] (Richmond, Va.) 1890-1903, 1897-10-23
FINANCEAND COMMERCE
yEE CLOSING QUOTATIONS or
MONEI.
offerings and sales at tho Richmond To
bacco ExohaDge-Iniernal Revenue
Collection Foreign Advances.

AfEN AOiNhf RNA 81 ne isNtNA"b
Posts london financial cabloRsam says:
Tho stock markets were quiet and duh
today on the tightening OF the money
market borrowers to-day were driven
to the Bank Of England whore per cent.
10 CHARGED Americans were lifclcss and
dull As affecting future gold movements
between New York and London I learn
that New York Is liQuidating considerable
sterling engagements here. 10 appears
also that early this year certain OF the
American railroads concerned In rcfunding
schemes borrowed large sums here ior
about six months at Q pcr cent. money
then being very cheap. Now that money
IS tight and certain rcfunding schemes
have been carried through considerable
iepaymcnts are expected In NoNF mhcr,
thus 20 that extent making money easier
on the chance OF gold export 20 New YORK.
Berlin and Paris markets arc quiet
To-c.,.e stool, market was a contest he
tween professional traders. and the result
shows n draw battle between the hulH
and bears. net changes Dong extremely
narrow ln almost AN cases. but those on
the side Of gains being very Few. The
bulk Of tho days trading was done az q
level OF prices very materially below that
of Yesterday. The opening was AZ sharp
declines in sympathy with London, az
which point speculation was very dun.
owing 10 the hardening tendency OF the
money market and fears OF impending
sfrngcncy there. The OLD apprehension
~ Spanish complications was also used
with good effect by the bear traders INC
declines OF tho morning reached a point
or over 40 "a large number OF stocks IN
Guiding the leading industrials, the grang-
ers Union Pacific and the SOuthwcsterns.
Union Pacific was affected by the reports
~ tho formation OF an opposition syndi-
cate 90 bid Tor tho property az the FORE
closure sale. The turn I'm me market
came with sharp recovery ln 'mcaso
frT.n. fNlff IIf
The control OF the threatened opposition
had passed 90 friends OF the company
This stock was quite strong during the
remainder Of the day, selling az one time
"a points above last nights close on the
estimated benefits 20 acruc from counter
Vaiiinc duties on refined sugars from Tor
cicn countries which pay "a bounty. ln-
ION Pacific was relieved from the early
pressure by statements from interests al
legged 10 be identified with the opposition.
AZ ono time during the afternoon prices
fell slightly below the best and below last
nights close i'm the final transactions.
Dealings in Bay State Gas were on q no
tahly large scale. very heavy BLOCKS
changing hands The fuctuation OF the
price was limited 10 *. There were times
turing the QaV when the market was al
most stacnant and there were no cyl
dencce of any interests In business. me
money market tended toward an easier
tone no cali loans being recorded above
% nor cent though the asking rate IS sun
retained at ~ per cent by some banks
Tomorrow bank statement is expected
90 show "a marked increase IN the surplus
reserve over $4,000 600 Of gold. which
was received from abroad last week. was
NOT included in the last week statement:
The weeks sub-trcasury operations ana
the interior movement has born fruit In
not gain 10 tho banks. Outside banks
have continued 20 bid I'm the market Tor
commercial paper. As a result OF these
ororations the statement Is cH pectcd 10
show "a handsome increase I'm cash. Busi-
ness in bonds was quiet and prices moved
in sympathy with stocks. but over Il mar
row range Iron Mountain IS and ore
gon INN. were notably weak Total sales
Tho total sales Of stocks for the day
ec7 lOO shares. including Atchison pfd, D
ms. Burlington. 1850. Louisville ana n.
a. 5O. Manhattan. IT'S; Mo. Paciilc, T.
aG1. Nor Pacific pfd. .222. Rock Island
TN5. St. Paul. $3.50; Union Pacinc, "
aGl. American Tobacco. $50. BAY STATE
GAS. 14GlG. Chicago Gas. 4l14l; Chicago
Great Western, G$lo
MONEY AND FXCWANGE.-Mon on
paU easier. az in2 per cent. last loan. =
nor cent. closed offered at l per cent
prime mercantile paper. 4p4ls per cent.
Sterling exchange firm, with actual busl-
nceg An bankers bills at 4 S45sN4Sj for de-
mand. and at 4S2 04.S2i2 for sixty DAYS.
p.affI rates Nlalf &il5 and f.NIl9.