Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-12-05
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT nUsI-
HEss CENTRES OF THE WORLD.
Prices OF Honey Donds. Stocks,
0rains Tobacco, Cotton, Cattle,
Country Produce. &C, Foreign
and Domestic.

NEW YORK, December 4.-To-day's
the room traders. and they seemed dis
posed to depress prices during the early
part OF the session, by means of short
sales. This met with little response, and
they covered before the close, bringing
prices. in many cases, slightly above yes
terday's close. The movement of prices
was. however. trivial throughout the day
except in few special cases.
The bank statement was without
special influence to-day. The increase in
cash was not sufficient to cover the in
creased requirements Of the legal reserve
caused by the heavy increase in profits
and the consequence is still further de-
cline in the surplus reserve. There has
been nothing in the general requirements
OF the money market during the week
to account for the expansion OF s3,476,5O
in the loans, and 1t is probably due to
borrowing on exchange. This is part
OF the somewhat complicated operation,
the simple result of which is to leave al
interest abroad the money which has
accumulated there on credit. instead OF
drawing on II by exchange bills. 1t is
estimated that over sl0,0OO.000 of foreign
exchange has been allowed to accumu-
late in this city during the week, and
the fact that the prices OK exchange have
not been materially lowered shows that
1t is withheld and the money loaned
abroad. There is a continuance also of
investment buying of long exchange, IN
anticipation of the usual return move
Of
year.
London advices during the week have
reported a very heavy American demand
in that market for high-grade American
railroad bonds. The same demand has
existed in the New York market, with a
very limited supply, which was largely
furnished for foreign account, as well
as in London. This would indicate a
further heavy transfer to this side of the
water of the highest priced railroad
securities in sufficient time TO have quite
an appreciate effect on the exchange
balance. The activity Of the bond market
has been a feature of the Stock tx
change here all the week. and the total
dealings In bonds on Thursday were OF
par value OF nearly $4,000.
The activity of the stock market has
been spasmodic. The week shows net
Gains of between l and 2 points In many
leading shares, and exceeding points
in some, notably Sugar I'D, Pennsyi-
vania. Great Western, and missouri
Pacific.
The bond market has shown less hesi-
fancy than stocks, and prices nave
steadily advanced, though with periods
of Iessened activity The supply OF high
Grade bonds has been unequal TO the
demand. and the demand has overno"ed
10 the low-priced bonds, which snow
notable gains in prices. Total sales,
SO, 100000. $780, rA,
limited States bonds were strong. the
new as were "a higher, bid; the rs 2l-z
higher. bid, and the old As registered
higher. .
on soO shares. including Chicago, Burling-
ION and Quincy 6,621; Manhattan, lloOi
81. Paul 1865; Chicago Great western
IL $50; Sugar, 1851.
MONEY AND EXCHANGE.
Money on call nominaly at l-2q2 pei
cent: prime mercantile paper, Sqi per
cent. 40. -,
Sterling exchange easy, with actual
business in bankers bills at S4SoS-4 IoI
demand. and $4S3 for sixty days; posted
rates. S4.S4 and $i6; commercial bills,
Bar silver. 50 5-S. Mexican dollars, SIS
state bonds steady. Railroad bonds
e., Government bonds firm.
NEW YORK STOCK QUOTATIONS