Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-03-28
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
ana Domestic.
ana Domestic.

NEW YORK, March H-Speculation at
the Stock Exchange started of firm In
tone, and the usually active issues rose
1894 per cent The rally failed 10
stimulate commisslon-house buying and
before IL o'clock the bears resumed ag-
gressive tactics. They sold the Western
railroads and Industrials vigorously, and
finally succeeded in shaking out weakly
margined stock all along the line. The
heaviness Of the market was due prima-
rily TO the recent decision Of the United
States Supreme Court. which has led TO
the withdrawal Of fifteen roads from the
Western Freight Association, and TO
belief that the roads in other associations
will take similar action in the near
future. Statements credited to certain
Senators and Representatives that II will
take fully two months to pass any legis-
lation looking TO the relief of the roads
also played directly into the hands of
those operating for lower prices.
The Industrlals were adversely infu
enced by the circulation Of unfavorable
rumors. Tobacco broke on a vague re-
port that the next dividend will be re-
duced From all accounts the company
has been enjoying a large business OF
late. and the rumor is not generally
credited. The directors are to meet on
Wednesday next Sugar was heavy, on
statements that the Doscher people Will
20 right ahead with the construction OF
their new refinery, and leather was de-
pressed. on rumOrs of losses through UNI
fortunate speculations in the raw pro-
duct. The decline in prices ranged from
] II TO 2 Ia per cent and every promi-
nent stock on the list participated in the
downward movement The important
losses were Reading first preferred Ia.
TO Al ga; Baltimore and Ohio 2 II to
Y 10 American Spirits preferred Is,
to q 1-2 Lake Shore 2. TO 16j; Colorado
Fue and Iron 2. to IS; Kansas and Texas
preferred / SIS, TO &c: Tobacco IL. TO
Y 10: Omaha 81 to 81 II; New York
Central / 81, TO 49, Sugar 5-S. 10 ITO "a;
Burlington and Quincy Ia, to Il; Chicago
Gas IA, to 81 II; New Jersey Central
] S-S. to s. 3-S; Reading Il 10 p; Lea
Their preferred l "a, to So ID; Northern
Pacific preferred l Is, to 80 rs, and the
other leading stocks IL TO ! per cent.
Baltimore and Ohio was unusually active
and depressed. on Baltimore statements
that the affairs Of the company are APP
The bank statement had no influence on
speculation. The features Of the exhibit
were an expansion in loans OF H.sylSO
and a decrease in deposits of 2.G5 $50.
There was very little change in the
amount of cash on hand. The surplus
reserve increased S726,775, and the banks
now hold s4S,S22,750 in excess Of legal
requirements.
Speculation closed heavy. with prices
at or near the lowest figures Of the week.
Net changes show losses Of 1-4h2 IA.
The total sales were 1895 shares, IN
Guiding 1920 Sugar, 1900 Burlington,
100 Tobacco, II 400 st. Paul. and n'io
Leather preferred.
The bond market was easy. the safes
footed up $4,000. $1,000.
Treasury balances: Coin, sl3O'95O il5; cur
rency, S6S6O6,S0
MONEY AND EXCHANGE.
Money on call offered at 2 per cent;
price mercantile paper, II per cent.
Sterling exchange steady, with actual
business In bankers bills at A.S5 l-2g
SIS "a for sixty days. and As7Q$4Sl IA
for demand: posted rates, AS6 l-2g
a SS1-2; commercial bills, SiS4 l-fg>i-eo'
Bar silver 621-2; silver at the board
neglected. e.... No,ay
Government bonds steady; STATE Dohus
dull. railroad bonds weak.
etroCu nunT ATOMS