Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-10-28
QUOTATIONS.
Prices OF Money, Bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce. &C., Foreign
A and Domestic.
a and Domestic.

NEW YORK, October 27.-The stock
market looked strong for a time to-day,
and the level Of prices soon after noon
rose a point or moro above last nights
the reports that the Spanish reply to
the representations of this government
was Of tenor that threatened trouble
caused the market to sell off to a point
as much below last nights level as it
had been above in the morning. This
represented a very wide range in the
fluctuations. extending to points in
Consolidated Gas and about points or
ovei in Union Pacific, Sugar, Pacific Mail,
and several other stocks, and over a
point for nearly all stocks.
Union Pacific continued to absorb a
large share Of speculative interest, and
fell during the day to Is of the low
point of Monday, when the governments
announced intention to postpone the fore
closure sale was regarded as threatening
a collapse of the whole reorganization
plan. The weakness of the stock was
reorganization's interest that the in
creased bid would involved their taking
up a corresponding amount of the pro-
posed new securities, which would have
otherwise accrued in the treasury Of the
reorganiZed company. This would, OF
course place a corresponding proportion
of fixed charges ahead Of the stock of
tho reorganized company. The sugges-
ton also found currency that the COM
mittee might decide TO increase the is
sue of the first mortgage bonds above
the SIS. 600 proposed, Notwithstanding
the assertion of the Reorganization Com
mttee's announcement of Monday that
no change in the plan OF reorganization
is involved by their determination TO bid
i'm the Union Pacific main line for the full
amount of the governments claim.
Whatever the foundation for the rumor,
II helped to depress the price of the stock
TO about what 1t was before the second
s. assessment was recently paid.
London was also a seller Of the stock
to-day in this market, IN contrast to its
attitude of yesterday. Arbitrage brokers,
i'm fact sold most of the interna-
tionai stocks. while prices remained
above the London parity. Sterling ex-
change yielded 5-S i'm the actual date for
demand bills. and IL in posted rates.
The increased amounts which will have
to be paid by foreign interests on ac-
count of the larger bid of the Union
Pacific was the cause OF the weaker
tone.
There was also said to be some liqui-
dation OF exchange which has been re-
Gently purchased for use as collateral.
with a view 70 leaving funds In London
at the higher rate OF interest prevailing
there.
The statement of st. Paul net earnings
for September, showing an increase OF
over $li1, 900, and rumors OF heavy In
crease TO be shown by the forthcoming
Burlington statement, were factors In
stiffening the market about noon. The
speculation in Burlington was the more
active. rumor being free to expand the
earnings In the absence of accurate In
formation The stock rose at one time
11-2. and there were over 10000 shares
dealt i'm. Burlington and Union Pacific
absorbed one third the total transactions
to-day.
The prices of railroad bonds were firm
in the early dealings, but eased on, in
sympathy with stocks, at the close
Total sales 81, 100000.
United States bonds were quiet and
unchanged.
The total sales of stocks to-day were
25S 800, including the following: Burling-
ton. 1880; Louisville and Nashville,
6.4G5; Missouri Pacific, sos; Rock Island
1920; St Paul, q 1907 Union Pacific, 1900;
Bay State Gas IA 800; Chicago Gas, 26SO;
Sugar. 1920; Chicago Great Western,
$500.
MONEY AND EXCHANGE.
Money on call easy at lG2 per cent;
last loan at per cent, and closing Of
fered at 1-2a2 per cent. prime mercan-
tie paper, 4G4 1-2 per cent
Sterling exchange heavy, with actual
business In bankers bills at A.S l-S1
si.G1-4 for demand and s4S2 l-4nA2 S-S
for sixty days; posted rates, A.SaAS 81 IL
and s4.SsaS4S6 -; commercial bills,
$4.Sl 81.
Silver certificates. 57a59; bar silver,
Sis; Mexican dollars, 45.
Government bonds firm. State bonds
dull. Railroad bonds firm.
FOREIGN STOCK MARKETS.
The Evening Posts London financial
cableeram says: The stock markets were
ouiet to-day during the progress OF the
settlement, and in view OF the holiday on
Nondav next. The tone. however. was
steady Money is still tight, and large
amount was borrowed from the Bank
OF England to-day.
Americans were firm, except Canada
pacifics. which were fiat, on New York
and German settling.
Mines were better. 1t is rumored that
80 Dutch Bank Is ready TO lend the
rransvaal Government 100000. subject
80 certain concessions being granted.
The Paris bourse was better. but its
condition is not yet satisfactory. The
Berlin market Is quiet
Sgw YORK STOCK QUOTATIONS..