The times. [volume] (Richmond, Va.) 1890-1903, 1897-08-18
FINANCEAND COMMERCE
THE CLOSING QUOTATIONS or
MONkI.
Offerings and sales NJ the Richmond Too
bacco Exchango-Intornal Revenue
Collections Foreign Advances.

NEW YORK. August i7-The bears
must be conceded 90 have won the hon
Ors in to-days stock market Prices were
never more than fraction above those
OF last nights close during the day. eN-
CCpt la "a few cases. and most OF the day 8
Gales were made az "a level quite sharply
below This close. The holders OF STOCKS
kept one aye on the wheat market an
DAY, and were kocniy attentive 90 the
hcaviress manifested ln that market ana
90 thc notable decrease in the export
demand for wheat on account Of the hlsii
range OF prices reached for tnat ccI,ai,,
Tho FIRST eject Of this was 10 impaTt
oullncss 10 tho stock market, oWuB 70
the determination OF holders not 10 sen
90 tho low range This dulncss sett'cu
upon the market soon after the nltHt
accumulation of commissioning orders
had been worked of. But the pear
traders took possession OF the market ~
tho absence OF an active buying oene M
bud sold 10 down 10 eaten stop ofueta. IAV
buying ceased ON any marked ADVANCE,
aud this encouraged the bears 10 pefslst,
with the result that they hnally succeed
cd in shaking out "a large amount OF
weekly Warrlucd stocks and prccipltated
heavy offerings on stop-loss orders
These were quite readily ABSORBED WIN
out rallyuC the market. There was a
noticeable falling off ln commits slOn-house
buying and the total sales fell on another
80 Co shares below yesterday record
and considerably over hundred thOu,
sand shares below the record OF any iull
Gay last week.
Ihc bond transactions were also in
very much diminished volume The aver
age net decline in the prominent railroad
stocks Us over "a point. and in individual
cases is considerably more. The fan was
assisted hv reports OF damage 10 the
spring wheat crop. and prices for Ameri-
cans in London were decreased on these
reports and ON the belief that The mlhl-
mum rate Of discount would be raised
above per cent by the Bank OF Eng
land The CHANGERS. the Coalers, the IN
rru railroad stocks were notable suffer-
rre. Northern Pacific preferred being
drag ON the market an day. Louisville
md Nashville. Atch.son preferred. Ms
sour. Pacific and Union Pacific were ac-
tive in the late selling movement. Nota-
Ole declines We're shown in Sugar and
Tobacco Lake Shore jumped two points
iu the carly dealings 90 17SR which is
now llEh-price record, but the gain was
mostly lost iu the lnu transactions.
burlington shows "a net decline Of 1850,
ihe heaviest loss Son the grangers. Lake
Er.e and Western preferred lost 2. New
Jersey Central. "a. Reading first pre-
f.rcd. 17.. Erie first preferred rs, and
many other stocks e point OF less.
$500 shares. including AtchlsOn. Is 100.
chesapeake and Ohio. $50. Chicago,
Burlington and Quincy. 323s4; Denver
and Rio GrouJe preferred, 669O; Missouri
Pacific 1870. Northern Pacific, 200 do.
preferred. 21220. Reading. 2l1t5, Rock
Island. 10 900. ST. Paul. IS 100. Southern
l1s7O. American Spirits. 5OJs, American
Tobacco. 1920; Chicago Gas. G7GO: Pa
r.hc Mail. $500. Sugar, 22WD. Chicago
Great Western. 2J.2jO; Western Union,
$500.
me bond market was moderately ac-
tive. and displayed considerable hrmness.
Some of the usually neglected issues
nuctuated quite widely. but the variations
Boo the speculative liens We're restricted
fo narrow limits. The aggregate sales
Governmints cased off slightly for the
new fs The other issues were fairly
steady The transactions were S35 900.
MONEY AND EXCHANGE.-Mone on
cll hrmcr 40 1hu2 per cent; last Joan
at Dr. and closed offered ~ IL per cent;
prime mercantile paper, 344i4 per cent
Sterling exchange steady with actual
business in bankers bills no 4Sp5n4Sj4
for demand. and 1891 n4S3ia for sixty
days; posted rates. 4SiN4S6 and 4s0i1f
ISL. commercial bills 4S2ih silver ccrtih-
Gates. 54014is. bar silver, 5fE; Mexican
dollars. HH Government bonds weak,
state bonds dull; railroad bonds firm.