Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-03-04
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.

NEW YORK, March 3.-The placing of
100000 worth of 3 IL per cent. guar
anteed bonds by the Lake Shore and
Michigan Southern Railway Company
with the Speyer syndicate for the pur-
pose Of refunding its outstanding per
cent. issues had a most favorable in
fiucnce on the market for securities to-
day. The significance OF this important
negotiation was hardly appreciated yes
terday, but upon reflection, operators
took a more sanguince view Of the situ-
alton, so far as investments are concern
ed, than for some time past. Naturally
enough, the Vanderbilt stocks were the
first to reflect the financing OF the Lake
Shore bonded debt, and when they were
taken freely, at steadily advancing prices,
the whole list sympathized, with the re-
suit that during the afternoon specula-
ton developed an almost buoyant tone.
The demand for the Vanderbilts and
other leading issues was so urgent that
the street entirely ignored the cable adj
vices from London, TO the effect that
the foreign markets were disturbed. by
the gravity Of the situation in the Lee
want The moderate sale by foreign
ers of ST. Paul, Louisville. and other in
ternational stocks had no appreciate
effect, and the same is also true Of the
heavy decrease in earnings reported by
the St. Paul company for the fourth
week Of February. II should be added
that leading railroad officials predict an
Improvement in railway traffic returns
from now on, and that their statements
have a reassuring effect
The announcement by President II. o.
Havemeyer. of the American Sugar Re
fininR Company. that the usual dividends,
on both the common and preferred stocks
will be declared by the directors at their
next meeting led to free purchases OF
Sugar stock. and started up a demand
from the shorts in other Industrials.
The advance In prices was equal to
1-2651-2 per cent. the latter in Pull
man which rose 10 1853. Omaha COM
mon advanced Az. to 81; Consolidated
Gas ?. 10 15i1-2; Nickel-Plate second pre-
ferred 51-4. to COL and the remainder
of the list anywhere from II 10 per
cent.
Jersey Central and Manhattan were eX-
ceptionally heavy I'm the early trading
the former selling down to 90 S-4, and the
latter TO s. "a. but they both moved up
n couple Of points during the afternoon
In sympathy with the other markets.
Near the close there was disposl-
ton 10 take profits, but the market lett
off strong. at n reaction Of Is to II per
cent. from the highest Net changes
show advances Of II to 41-2 per cent,
Omaha leading. In the specialties, Pull
man gained Sig Nickei-Platc second
preferred 51-f, and Consolidated Gas
11-2 per cent.
The total sales were 2O2.0T shares In
Guiding 300 Burlington, 220oO Sugar.
IS 800 ST. Paul 1890 Omaha, and l2'Soo
Northwest. -.
Bonds were strong to-day. The sales
footed up S2.0l40oO. .,,.,o.
treasury balances: Coin, aSo6i'6is;
currency. 626i2,5OO.
MONEY AND EXCHANGE.
Money on call easy at 1-2al 81 per
cont last loan at 11-2. and closing Of
fered at 11-2. Prime mercantile paper .
pI Bar silver, "a. Silver at the board
neglected. ,.,, .o.,,ot
business in bankers bills for $40 LIN
St51-2 for sixty days. and S.orlo
Sfe-1-4 for demand. Posted rates, N'o5g
s1ss commercial bills. A.SiaASj.
Government bonds firm. State bonds
,..,io+ railroad bonds active and strong