Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-10-21
MARKET QUOTATIONS.
Prices of Money, Bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce, &C., Foreign
and Domestic.

|
and Domestic.
NEW YORK, October 20.-To-day's mar
ket looked very much as though an effort
was being made to test it for q rise. The
bears made an abortive effort early in the
day to raid the market, and directed an
attack against Sugar and Chicago Gas.
| The failure of the raid encouraged the
| bulls 20 aggressive action, and there were
indications Of the appearance in the mar
ket of some large buying interests, which
! were prominent in the late rise of the
market. This professional buying carried
prices up quite strongly, net advances
throughout the list being from lis up
The bulls were evidently satisfied. and
then commenced TO sell to realize profits
about half an hour before the close. This
carried prices down in some cases below
| last nights close. and where net gains
| remained they were in almost all cases
| fractional.
The success Of the bears was frustrated
| in part, owing TO the special strength in
| Sugar and Chicago Gas, which they re.
! lied on to work a sympathetic decline.
Treasury Department TO hold refined SUI
gars conditionally liable to the counter
yailing duty which applies TO imported
sugars, upon which an export bounty Is
paid. Chicago Gas derived strength from
rumors of a compromise with the threat
ened competition.
The market showed considerable IN
crease of activity, as compared with the
last few days, but was still al
most purely professional. London
changed from its recent attitude
and sold stocks here. Additional
reports of railroad earnings for the Sc
cond week in october all show handsome
returns, and many vague rumors we've
ahoat of still more striking improvement
to be shown in statements not yet issued.
The large movement of cotton along the
lines recently released from quarantine
restrictions was shown by reports and
gave strength TO the railroads affected.
The exchange market continued firm
and the local money market easy Some
business is being done in loans on long
sterling, which is i'm effect. the lending of
money abroad. This naturally tends to
keep up the rate of exchange The con-
tinued ease of the local money market,
and the large resources on hand in the
interior banks, owing to the large pay
ment, are the inducements for thus de-
ferring the movement of gold this way.
Bonds were strong, in sympathy with
stocks. One 250,000-block of Union
Pacific collateral trust notes was sold
at 90, and another block of 10000 at the
same price. Total sales, 1926, 900.
United States new As advanced IA bid,
and the SIS, coupon, declined Is bid.
The total sales of stocks to-day were
402, 200 shares, including Atchison pre-
ferred, $3.50; Burlington, 27,22O; Louisville
and Nashville, 1865; Manhattan, 1850:
Missouri Pacific, 24590; New York Gen.
trail, 1885, Northern Pacific preferred,
II 1876; Rock Island 1922 st. Paul. 27,T0;
st. Paul. 1850; Wabash preferred, 1900; |
American Tobacco, 1929; Bay State Gas, |
sos: Chicago Gas, $3.50; Sugar, 1921; |
Chicago Great Western, 1l,135.
MONEY AND EXCHANGE.
Money on call steady at 2q2 1-2 per |
cent; last loan at 21-2 per cent; closing |
offered at 21-id2 IL; prime mercantile |
paper, 4d41 IL per cent.
Sterling exchange firm, with actual |
business in bankers bills at A.A 3-sq |
s4S41-2 for demand and $4.s2@sis2 IA for
sixty, DAYS: posted rates, $4S2 1-2ds4.S So 1-2,
and siS1-2; commercial bills, sLs1 1-2.
silver certificates 59d6O. Bar silver,
80 IA Mexican dollars. 45 "a.
Government bonds strong. State bonds
dull. Railroad bonds strong.
FOREIGN STOCK MARKETS.
The Evening Posts London financial
,ahlegram SAYS: The stock markets
were idle to-day, but the tone was
steady. Americans were especially good,
md closed quiet at the best, though the
support here is only professional. The
fullest market was Brazils, which were
lat on reports that the negotiations for
he sale of certain Brazilian State rail-
ways to the foreign syndicate have been
7 am informed in credible quarters that
he sale of American eagles yesterday
md to-day by the Bank OF England is
eally for Germany. the reason given
icing that. owing to the lightness OF
many of the sovereigns withdrawn, 1t
avs better 10 take eagles at the present
rice The amount of eagles withdrawn
o-dav was $4,000, and the total amount
4 bullion taken was f72,OOo
A cable from the Financial News's
VOW work correspondent attracts much
,tention here. 1t affirms that New York
arlxs have loaned to London a large
,,o,,pt of money on long sterling bills.
,,,,dapces of this are very scanty here
!, present. and wonder Is excited as to !
go, such AN operation can pay. with
tscount rates here at 2l-2 per cent.
IN the report Is not entirely dis ,
redited.
The Paris anu D- "''e
uiet. ,