The times. [volume] (Richmond, Va.) 1890-1903, 1897-11-18
FINANCE AND COMMERCE
raH CLOSING QUOTATIONS OF
x0NfI.
Offerings and sales at the Richmond To
bscco Erchange-fnternal Revenue
CoiIections-Foreigp Advances.

NEW YORK. Nov. 1.-THE Evening
Posts London financial cablcgram says
Tho stock markets were quiet and steady
to-day Investment stocks were arm.
Americans duh. there being no initiative
here. and the close was weak. Many in
auirics have been made to-day after
eagles b. American houses. but " may
he only for Germany. II ~ said that
G30no'0 in gold Is going TO Chill immc-
diatcly I'm connection with the completion
on the currency conversion. This Is pro-
baby correct. but unusual mystery sur
rounds the operation. no one KNOWING
whether the gold has yet TO leave the
Rank Of England or whether II has AZ
ready been bought up i'm the open mar
kct Money rates are easy, but 1 learn
that the bank has begun 20 borrow again
which probably means temporary rccoV-
cry I'm rates Paris and Berlin markets
were quiet
Net declines to-day were about the
same as net gains were yesterday IN tne
stock market, but the range OF prices ~
a little wider. as Their" was "A time during
the dav when they were carried ffac-
ton above Yesterdays close. The extreme
decline In some OF the grangers and the
coalcrs Is. therefore. over a point. sugar
ruled generally above last nights close,
rising al one IA. and this sustained the
general market for a time. n jump or
81, in Consolidated Gas was also the
cause Of sustained prices. hue the recent
eccentric movements of the stock have
come % DC practically disregarded. Both
81 these stocks fell away 10 yesterday
level In thc subsequent weakness. me
declaration Of only I per cent. quarterly
dividend on burlington and Quincy served
70 weaken that stock somewhat. Spccula-
ton however. was almost dead, ana thc
dealing In speculative stocks was con
fined entirely 20 room traders. Union
Pacific was very heavy m tone All Gay.
and lost IA net. This decline was coupled
with a rise Of nearly two points IN the
Kansas Pacific COnGol bonds. Inc boiiu
aaNa.N
than stocks. and the investment ISSUES
were IN special demand. showing gains OF
from I 10 3 points This tendency IN the
security market was entirety CONSISTENT
with the remarkable ease I'm the money
market. There is "a steady current OF
funds toward this centre. and liquidation
Of loans were very light. The demand
for the money thus SGT free IS now owing
20 last weeks increasing loans or the
New York banks. was more than account
ed for by operations or account OF inc
Union Pacific sales. Loans on other ac.
counts showed an actual decrease, anu
tho limited supply Of commercial paper
offerings indicates that merchants are
not in need of funds 40 present. This IS
fu part due 20 the easy collections all
over tho country and the large payment
Of outstanding indebtedness. But there Is
some apprehension that II may also DE
due 10 falling off I'm business activity.
Tho case Of the money market Is so
marked that there is some talk of the
Union Pacific payments to the Govern
ment being made ptlorc lheN htc1We
due Total sales Of stocks fell TO less
than $4,000 shares and losses were gen
eral throughout the list
In tho bond market there was sale OF
Flint and Pere Marquette. Port Huron
Division. IS az ~ points lower than the
last sale which was several weeks ago.
Otherwise prices were firm and higher.
Total sales were 81 $4,000.
The total sales of stocks were 16l 400
shares. including Burlington. 1850; Rock
Island II go: Union Pacific. $40; 81.
Paul 1911. Bay State Gas, 1855; Sugar,
36.4sj.
MONEY AND EXCHANGE.-Money on
caU steady at 1ihN2 per cent; last loan
at . per cent. and closed offered at IVA
per cent. prime mercantile paper 3i2H4h
per cent Sterling exchange easy at 1904
04Sjb for demand and at 1929 for sixty
davs. posted rates. 4S3i5N4sl2; CONNER
cial bills. 4S2. Silver certificates, 0ehn
5Qi3. bar silver. 5Sas: Mexican dollars, 45R.
Government bonds firm; state bonds dull;
railroad bonds firm.