The times. [volume] (Richmond, Va.) 1890-1903, 1897-05-12
FINANCE AND COMMERCE
1HE CLOSING QUOTATIONS or
MONEY.
Offerings and Sales at tho Richmond To-
bacco Exchange-Internal Revenue
Collections-Toreign Advances,

NEW YORK, May 1i.-To-day's mar
kct Tor stocks continued 10 DC SsIOng ana
prices TO advance an around so long as
me London Exchange was in session to
iupart its buoyant influence to the local
market. The dealings showed some AMI
u.tuon ana Increased volume, and me
rise Ia prices was easy and uninterrupted.
But use spirit OF pcssimlsm proved too
strong 60 Outlast very lOEE the adjourn
mtnt OF The London Exchange, even with
London continuing TO puy quite heavily
IA this market after the close OF It's eN-
change. Tho prices OF Americans ia Lon
don nave halted somewhat up TO this
time. IN spite o. the general Improvement
in that market growing out or tnc sutsi-
dcnCe of alarm over the war IN the East
because LouuOn waited for New ork 20
give the cue for an Advance. To-Day
however. the general tone IN London was
SO strong ana thc Improvement so SEN
Cral that 10 extended TO the Americans
without waiting Tor New YORK initia-
tive OF the day = trading. Although solu
shipments have been expected ana conn
IDENTIFY predicted Tor this week, tnc bu.ls
lost heart in face OF the actual announce
mcnt OF today shipments dnc tte
whole market sold of with no suose iurAt
recurrence of decisive strength. As
matter OF fact. exchange rates 80 "a l'tl.
copubly with the offerings OF bills against
Tie gold shipments and the large Pun
Chases OF securities by London mere, about
lJ.OJU Shares OF stocks, and some iaIhc
blocks OF railway bonds. The imp eve
ment In the price Of kafiirs ~ Lopao.l 10
Gay Is another factor 10 be conslue,rl ii
the exchange situation, as the leaNg
Liquidation of Paris holdings OF these Sc
curitics on the London market 'i'e
rcputed cause of the Paris demanl on
London for gold and indirectly 81 lic
shipments of gold from New 1otk 10
Paris. These elements in the sitIa. ca
make the volume Of gold TO be sh'epeu
from here this week sui more pIoplti
atical with "a growing Likelihood lhdl 'Hcy
Will be less rather than more tnah ives
anticiDatcd. But these considerations
did not allay the apprehensions 81 lhc
traders and they allowed prices 10 &C
cline. As consequence, net chaneco ca
the day are generally very narrow ts..
as a general rule all Of the early s1in was
lost with resulting net losses OF iidS-
lion the volume Of the dealings CREAMY
diminishing on the decline. Ohl'dSO Gus
St Paul. Burlington and western I'lCh
were the most active stocks IN inc '''cI
named The net losses in tho |OhItls
we're wider than elsewhere, cNtnOing 20
point in Nv Jersey Central Foreign buy
ing was responsible for advances OF IS
I'm Norfolk and Western pfd. ara 2 III
Norfolk and Western common ana IN OHe-
gon Navigation pfd.. two usually inactNe
stocks The total sale Of stocks iCf the
day were 100 CD shares, including ANN
can Sugar Refinery, 1O,1OO, Burhns,oh
and Quincy 1920: Chicago Gas. 2b.GCO,
Louisville and Nashville $500; Mlnhat-
tan Consolidated. l.. 200; Reading $40;
Rock Island $500; st. Paul 1880; West
ern Union Telegraph, 11,GCO.
The bond market displayed stiffness gem
orally on moderate transactions, with re-
newed foreign buying the feature. The
sales were SlS944. 900. GOvernm mt bonds
displayed a reactionary tendency, ana
sagged slightly on sales Of $50, 10.
MONEY AND EXCHANGE: Money on
call al Ldi5 per cent; last loan y ana
closed offered at Ania per cent: prime
mercantile paper. 83q4h. Sterling ex-
change castor, with actual business in
bankers bills at 4s7i404s7ia for demand
and 1861 04s6il for sixty days. posted
rates. 4s7Q4s7l9 and 4SsHa4s3 CONNER
cial bills. 4S5AN4sJi2 Silver certificates,
GOi4Q61: bar silver 6ON Mexican dollars
AK. Government bonds weak; State
bonds dull; railroad bonds firm.