The times. [volume] (Richmond, Va.) 1890-1903, 1897-09-23
FINANCE AND COMMERCE
rHR CLOSING QUOTATIONS. Of
MONEY.
Offerings and Sales at the Richmond o
b.eco FxohanEe-InternalR Revenue
COLLECTIONS Foreign Advances

NEW YORK. Sept. 22.-'rso Evening
Posts London financial cablegran gay -,
The stock markets were gchei"iiy tro
today. I'm anticipation OF "a rise III Wv
my ratio to-morYow. Americans. how
ever. rallied sharply az the Close on -
news OF the withdrawal or boiu ~, -',,
Bank OF England for shipment 70 -"
York and prices closed strong ana at Wy
best There were more signs OF ihslissH
and continental buying than sii,so s'o
upward movement commenced o' ~ 49,
stocks were dun, notably Spaiits H. ,'
Paris Bourse was dull early on tho Sp1n-
ish affairs. but closed better A"o DV''''
market was slow.
The result Of tho day transactions on
the stock Exchange was the recovery "a
the greater part Of the losses sustai i.,.,,
Jn yesterdays sharp rcacuon' Il1us
stocks closing tonight higher than MOL
day night. During the early part OF Ine
day the market was extremely hIssui@i
and uncertain I'm tone. number OF ~
ciaitics continuing to show marked weak
ness. even after the railway list had re-
covered from its reacionary tenuehT,y,
Put bv tho second hour Of trading tne
bears had practically abandon theL 90,
forts 10 work a reaction, and the Whole
market was tending strongly up"aIu'
The manifest disposition or Lohuon OPV-
ration and Of cOmmission-h house Gus lohltis
20 buy stocks 40 a decline mere aioIuc1
n stDDOrt to the market that discouraged
the hears. The nervousness over the har-
dening Of the rates for money also largely
subsidized as the shifting Of loans developed
moro accurately the true level or the
money market. The rates for call money
continued 10 run as high ms per cent,
but as fast as rates were marked uD 10
this figure there was abundant supply
offered at as low as per cent. This was
not regarded as indicating a stringent
condition Of the market The higher rate
was not felt 20 DO justified 10y the Condi-
ton OF the market. and the failure Of the
exchange market 90 respond with any
marked weakness 20 the per cent. ask
Ing rate went 10 confirm the same view.
There was n marked reaction at one time
during the day, due 20 the sharp profit
taking I'm Rock Island on the announce
ment Of the declaration Of l per cent.
quarterly dividend The recent sharp rise
in Rock Island was accompanied by some
irresponsible rumOrs that tho dividend
rate would be increased 10 . per cent.
Some Of the sellers Of the stock professed
disappointment that the rate was made
only per cent, and the bears used this
as material for a drive against the mar
ket. But the strong recovery IN ConSOn-
dated Gas and Brooklyn Union. the
former rising IL points and the latter GA,
tended 10 steady the market The re-
ported engagement Of gold for import
were vague. and not definitely confirmed
until the close Of the market; but the
rumOrs served TO rally the whole market
strongly and bring prices 90 the best OF
the day al the close. the net gains I'm all
Of the active stocks ranging from ] 10
points. Foreign bankers are generally
agreed that there Is no profit IN the
importation Of gold at the ruling rates
Of exchange here and Of gold abroad ana
the banking house which has engaged the
gold for import intimates that IL has been
able 10 do So owing TO some special adj
vantage secured. though II was affirmed
that II was made I'm the regular course
OF exchange business. The engagement
IS not considered as indicating that a
further movement OF gold win imme-
diately follow without a further decline
in the exchange market.
The total sales OF stocks to-day were
1900 shares including Atchison, $500:
do. preferred 1850; chesapeake ana
Ohio. 1905: Chicago. Burlington and
Quincy, 5000; Louisville and Nashville,
1850. Manhattan Elevated. s $50; Mis-
souri, Pacific. 1880. Missouri. Kansas and
Texas preferred. ESQ; New York Central.
300. Northern Pacific JoW'; do. pre-
ferred. - $50: .. and w. 6.4fj Reading,
1880: Rock Islands $500, ST. Paul, d.
BOO; ST. Paul and Omaha, j012; Union
Pacific. 1850; u. j., ID. and c.. 300;
Wabash preferred $3.50; American To-
bacco. 10. 72O; Bay State Gas, II go; Chi
cago Gas, 20,02O. Consolidated Gas. 500;
la Clede Gas. 6.SSG. Pacific Mail, G93O:
Sugar. 60 $50; Western Union, 1890; Chi
cagO Great Western, 1772O.
The bond market showed some falling
off in activity. but prices We're strong,
except I'm the Standard Rope issues. OF
these the 6's lost points and the incomes
IL. The total sales were 100000
MONEY AND EXCHANGE-AIone on
call strong at pa per cent. last loan at
per cent, and closed offered az per
cent; prime mercantile paper, 4N4l3 per
cent Sterling exchange heavy. with ac-
tual business I'm bankers bills at 4Sl9t for
demand and at 4S215fif S25s for sixty DAYS.
posted rates. 4S3k04S4 aud 4Sji5G4SGH:
commercials bills. 1917. Silver certih-
Gates, 5sl9q59l5; bar silver. jSia: Mexican
dollars, 43ia Government bonds firm.
State bonds dull, railroad bonds strong.