Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-08-11
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT BUsI-
NESS CENTRES OF THE WORLD.
Prices of Money, Bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce, &c, Foreign
and Domestic.

NEW YORK. August 10.-The price
Of most stocks this evening was dis
tinctly higher than last evening, the
gains extending 10 over point In ZONE
Of the most prominent stocks. There are
several reasons why this net result Ct
the days trading is particularly notoblo,
as indicating tho recuperatiye power OF
the market. In tho first pace tire
market opened with yesterdays disposi-
ton 10 take profits apparently still ram
pant. The offerings for this purpose
were very heavy, and the market sold
of sharply, under tho large transactions.
The decline was accelerated by The
pressure Of short sales. professional
operators being convinced that reac-
ton Of considerable proportions was i'm
pending. The Changers were subjected
to tho severest pressure. but few active
stocks escaped a loss Of nearly point.
nv tho time the decline had reached this
proportion. the offerings began % show
signs OF diminution-that unfaiiing In
dication OF an undertone Of strength IN
q falling narket-and prices soon became
An. After a period OF duiness they re-
sAod an upward course, and advanced
steadily and strongly Tor the rest OF tho
day. on a continuing increase OF bust
ncss.
4 large part Of the shares which were
nreciuitately thrown over yesterday IN
tho desire to realize profits. wero bought
back to-day. many OF them below inc
l.vel al which they Wero sold. Tho early
short sellers. many OF them. felt I'M
pollod 10 accept Tho Inevitable tendency
10 advance, in view Of the decisive test
OF the reactionary power OF the market
which was given In the morning. This
remuneration was effected In the race OF
selling for London account, on rather
larger volume than usual. and Of espo-
cjallv severe declines OF American on
tho London Exchange. Toe day was the
rortnightly settlement and delivery day on
tho Iondon Exchange The belief had
prevailed I'm some minds that the recent
selling OF Americans by London was Tor
short account, and that the settlement
would disclose the fact In an Increased
demand TO cover shorts. Contrary TO the
expectatiors OF this class, London sold
all the international stocks very Freely
with the exception OF Northern racine
preferred.
The dav was marked by furcher de-
cline I'm sterling eXchanRe-of posted rates
TO s4Si1-2 and siss l-2. for long and snort,
respectively. and actual rates. H.3 ana
Si&2-S. FOR long and short. Rates lor
time money for tho longer perio1s halu-
ened. and this invited some sfllihS Oh
long sterling bills for future use, me ifo-
ceeds being put into loans. Discount
hardened in London, and thefe was &c
five bidding there for gold. Crop pros
meets. reports Of foreign crop shortage.
and the accompanying .ise IN the wheat
market. all continued favorable 20 the
advance I'm the prices of stocks. IS did
the further reports OF current railroad
earnings The total decline "as mere
than recovered In all stocks, but the let
gains extended TO a point in only lew
shares.
The bond market gave decided evidence
Of strength, on liberal pa bases. on the
advance in some Of the prominent IS
sres Rusiness was in considerable
volume. but the aggregate showed con
siderable shrinkage from yesterdays 10
tai. The total transactions we're $50
600. The trading in government Londs
was featured by a sale OF block " s5VO-
600 Of the new coupon ~. Jhe market
ruled heavy, with shSnt sh'ulHE III
quotations at the close
The total sales OF stocks to-day were
53l.9s2 shares. including Atchison' pre-
ferred. q go; Chesapeake and Ohio, BIB;
Chicago. Burlington and Quincy, 4l,ClO;
Erie. new. 1880; Illinois Central 1850;
louisville and Nashville. 1888 Manhat-
ton I. 62lO; Missouri Pacific, 1925; New
Jersey central 1891; New York Central
1885: Northern Pacific. 5.0ll; do, pre-
ferred. 2O.72o; READING, 1862; Rock Island
o. 595; st. Paul, 6i,o5O; ST. p. and O.. $3.50;
Southern railway. preferred, $3.50; Ameri-
can Spirits. 12,729; American Tobacco
1881: Bay State Gas, 1888; Chicago Gas
8s55: Iaclade Gas, $3.50; Sugar, T'792;
Tennessee Coal and Iron, 5.557; Chicago
Great Western. IS. 40.
MONEY AND EXCHANGE.
Money on call easy al 1d1 IL per cent;
prime mercantile paper per cent.
Sterling exchange weak, with actual
business in bankers bills at $is5 $50
NS1-2 for demand. and at A.8 3-tg
uSt for sixty days; posted rates, si.:4 l-2Q
s4ss1-2 and As6 l-2aS4N IL; commercial
bills. slS.
silver certificates, no quotation. Bar
silver 1888: Mexican dollars. 4 Il
Government bonds weak; state bonds
dull. railroad bonds strong.