Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-08-12
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT EUsI-
NESS CENTRES OF THE WORLD.
Prices of Money, Bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce, &C., Foreign
and Domestic.
and Domestic.

NEW YORK, August 1.-THE only in
terruption to the upward course Of the
prices OF stocks to-day was due to oc-
casional profit-taking By room-traders
The offerings on this account were easily
absorbed, with only a momentary halt
after which trade was resumed. During
the morning the influence OF buying on
long account was evident, arbitrage
! brokers taking all the international
shares quite freely. London prices also
came higher at the opening, but before
the day was over London had turned
seller again, and, 1t is estimated, sold
5000 more shares than were bought. The
effect OF this selling had no apprc-
cable effect on prices. The low-priced
shares Of OBSERVATION-DISCLOSURES stocks
were largely bought by London, and were
fayorltes also on local speculation.
Union Pacific was the leader of the
whole market In point of activity, 81 900
shares being bought during the day. The
stock was helped by a revival of the old
story that the forthcoming foreclosure
sale would make the road a part of a
great transcontinental system, under one
control The stock was heavily bought
by professional traGers for speculative
account, and closed with a gain Of 31-4
points on the day.
The excitement in the wheat market
was reflected in the stock market, and
was o large element IN encouraging pur-
chases, especially Of the Changers, the
grlin-carrylng roads in the West and
Southwest all showing substantial gains
and great activity. The dealings in the
high-priced Changers were OF enormous
proportions, and the Atchison securities
and Northern Pacific preferred were
also prominent features.
Reports from western points were or
increasing demand for car space TO move
the grain crop and OF the necessity OF
great eXertions on the part Of railroad
managers TO avert a far famine state
ments of earnings also continue en-
couraging. St. Paul showed an increase
for the first week in August Of $O225 over
last year. For the same period Canadian
Pacific gained $4,000; Missouri Pacific,
$1,000, and Kansas and Texas, Sl2,Z2.
Northern Pacific gained Sl339H for the
last week in July. Louisville and Nash
vile was active all day, but moved with
I'm narrow limits until near the close
when it Jumped TO a leading place In the
advance, with 4 net gain OF is.
One OF the features Of the day was a
steadying Of the sterling exchange mar
ket and consequent cessation Of talk or
gold imports in the immediate future.
The stiffening of the discount rate in
London added 10 the continued steadiness
here Of all securities. Continent exchange
continued weak and downward. Gains
extended over a point in a large number
OF railroad stocks, and 10 10 points in
Cleveland. Cincinnati, Chicago and St
Louis preferred.
The total sales Of stock to-day were
534 100 shares. including Atchison, 1000;
the preferred, 1850; Chesapeake and OHIO
! $50; Chicago Burlington and quincy, 81
l6j; Erie, new, 76l Illinois Central 1iU5;
Louisville and Nashville 1915; Mctropo.i-
tan Traction. 6,Oo5; DO, preferred. o,5iO;
Northern Pacific. 1859; do. preferred
1920: Ontario and Western. SSi0; Read
ing. n. SIS; Rock Island. 126l6; ST. Paul
"a. 675: Southern Railway en-; do. pre-
ferred, 1850; Union Pacific, 50 4sO; Ameri- T.
can Tobacco. 1890; Sugar. 1855; Tennes- ,
see Coal and Iron, 4SS2; Western Union, /
q $50; Chicago Great Western. 5000.
The inquiry for railroad mortgages 4;
continues heavy. and reflects the conf T,
ien1e in tho general situation. Issues I
,f reorga Nized properties forged 20 the
front. and purchases Of the middle-grade ,
lens were ON a large scale. The gene
raj market maintained a very strong tone
throughout The aggregate sales were
a 2,O.CO0 Government bonds were slight /
" irregular on dealings OF $2c 0cc.
MONEY AND EXCHANGE.
Money on call irmer at l6l2 per cent; I
prime mercantile paper. 3S-iai Ia per (
,ent
Sterling exchange steady. with actual
business In bankers bills at SIS Lag
A IS 81 for demand, and s4si1si@ Ia for
sixty DAYS: posted rates. sis. i-26si.
md Sfs5 i-2di4T; commercial bills, &.s3.
silver certificates. S5a5l bar silver.
: l-2: Mexican dollars 42l-2.
Government bonds irregular; State
,onds duh; railroad bonds strong.
Petroleum. Pennsylvania crude. no mar
,et; nominally S..
NEw YORK STOCK QUOTATIONS.
Closing sto~ks,
4 rcnisoa. Topeka sad Ssu.s re .... i54
Atch son. preferred ................. ...'.. oi~