Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-11-30
MARKET QUOTATIONS,
REPORTS FROM ALL GREAT BUsI.
NESS CENTRES OF THE WORLD.
Prices OF Money, Bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
country Produce, &C., Foreign
and Domestic.


an accumulation Of commission-hous
orders in the market at the opening thi
morning, which had come in over Sun
day. as a result OF the strength dis
! played by the stock market on Saturday
| The quotations for Americans were ais,
run up on the London Exchange befor,
the opening here. As a consequence. III
market opened with quite an ami
mated buying movement, and an ad
| vance Of a marked fraction all along tn,
! line. But the buyers Of Friday and Sat
urday Immediately set about realizing
| their profits, and the advance came TO an
| untimely end. The motive offered fol
the selling was the Withholding of the
| decision on the Nebraska maximum
freight-rate case by the Supreme Court.
There were occasional rallies during tho
day, Sugar mounting strongly upward
after a preliminary decline. TO the extent
OF almost three points There was very
heavy speculation in this stock during
the day, the sales amounting to one
third of all sales, or over 100000 shares.
and its price closed unchanged from Sat
urday. There was some buying for Lon
tracts made in London at the early
higher level and this also helped to
steady the market. The early weakness
soon overlook il, however, the net de-
clines reaching nearly a point in many
leading stocks, and exceeding that in
special cases.
As a result of the lively realizing move
ment and the active speculation in Sugar
the sales of stocks ran up 10 nearly
100000 shares before noon, a figure in ex-
cess of any total days trading for seve-
raj weeks.
The continued strength of the sterling
exchange market attracts much attention,
in view of the status Of the international
balances. Posted rates were advanced
half a cent for the day, for both long and
short sterling. There is a feeling that the
Investment buying Of long exchange, the
leaving of funds due on balance in in
terests abroad, and the arrivals of gold at
San Francisco from Australia, are not
sufficient combined to account for the
strength Of exchange, and that there is
much heavier selling OF high-class Amer
lean securities by European holders for !
transfer to this side of the water than
appears. The high level of prices for
this grade Of securities goes TO confirm
this view.
The very heavy increase in the loans
Of clearinghouse banks, amounting TO
over 100000. as shown in Saturdays |
bank statement. is also being closely !
The explanation that the in |
crease is connected with the Union !
Pacific Committees payment to the gov |
eminent does not entirely cover the |
as the expansion of loans pre-
vious to November 10Th was already re- /
ferred to, to account for that. and was
attributed to IT. Saturdays statement !
seems to indicate that the payment to
he government, which was left on de-
oosit I'm the banks, had already been i'm
nediately replaced in loans. As the
IniOn Pacific Reorganization Committee
vas supposed TO have already secured
III the needed funds before last Mondays
payment to the government, IT is diff
'ult to account for this large absorption
" money, in view of the known condition
# the money market. the demand for
money being very duh I'm all departments.
The bond market was quite active and
road and prices were higher in almost
III cases. Total sales. $l,SOO,OOO
United States old As. registered, were
s higher bid; the SIS. Ia higher bid, and
ne new as. 1-2 higher bid. There were
ales of the new As, coupon, at 12S l-2 the
ighest on record.
The total sales Of stocks were 322,lOO I
hares. including Chicago, Burlington and
ulncy. 24.3C5; Louisville and Nashville.
l49: Manhattan L, 27,77O; Missouri
acifc $40; New Jersey Central, 600;
orthern Pacific preferred. 1926; Read
lg. 6.22O; Rock Island, $3.50; st. Paul
92O; Peoples Gas, IL 400; Sugar, lCOOD. /
MONEY AND EXCHANGE.
Money on call easy at 1-2q2 per cent; I
ST loan at 11-2Q2 per cent; closing S
fered at 2 per cent; prime mercantile
lper. 343 1-2.
Sterling exchange firm, with actual G
,siness in bankers bills at ASo 7-S9
So for demand, and s4.S3qA.8 IA for
XIV DAYS; posted rates, Asiq4.S1; COM r
ercial bills. s4.S2 1-2as4.S2 S-4 {
silver certificates, 59Q59 l-2. Bar silver, +
Mexican dollars, IS Is. n
Government bonds strong state ponds y
III. Railway bonds strong. p