Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-12-25
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT BusI-
NESS CENTRES OF THE WORLD.
Prices Of Honey, Bonds. Stocks,
Grain, Tobacco, Cotton, Cattle.
Country Produce, &C., Foreign
and Domestic.
and Domestic.

have been such a notable feature In the
stock market all the week, opened with
a further bound upwards this morning
and though there were sharp reactions
during the day on profit-taking, these
stocks closed at the highest. Third
Avenue made gain OF % points for the
week The weeks gains were also ex-
tended in Metropolitan to 9l5, and In
Manhattan TO 81 The great buoyancy
in these specialties spread through the
list The level OF prices in the Indus
trials and in the Changers was at one
time from / to points above last nights
close
During the afternoon the market took
on a distinctively holiday character and
fell at times into stagnation. There was
no particular news to account for the
movement OF prices, though the bank
statement, with its decrease of over
5000 900 in the surplus reserve. had the
effect Of checking the activity in the mar
ket. for the time being. In fact, the
market did not take on the same ami
nation again during the remainder Of
the day. even when the announcement
was made of the engagement for ship
ment from England by tomorrow
steamer of $4,000 in gold.
The bank statement was about what Was
expected, and reflected portion OF last
weeks Union Pacific operations not in
cluded in last weeks statement The
heavy balance of over 100000 in the
Clearing House statement undoubtedly
reflects operations i'm connection with
Mondays payment Of SS5O0,00O on account
of the Union Pacific sale.
To-day's shipment Of gold, while 1t in
dicates certain relief available in case
of undue stringency in the local money
market. also indicates the belief that
the present hardness of money rates Is
likely TO endure for a considerable time
without relief. 1t has come TO be gene
rally recognized that large imports OF
gold will be necessary to settle our eX-
listing trade balance with Europe, as the
expected import movement of merchan-
disc does not develop. But the present
hardness of money here, IL was supposed,
wouId be of short duration, and would
thus defer the gold movement as long
as high rates continue to prevail i'm Lon
| don and Berlin. There was expectation
after the days engagement was an
| nounced that there would be a further
| gold importation next week.
REVIEW OF THE WEEK.
The stock market during the week has
been characteristic of the period I'M
| mediately preceding the holidays. Inc
| deals amounted TO less than 100000 shares
a day. and the movement of prices mas
| been sluggish and narrow, except IN spe-
| ciaI cases This was due in part to the
| natural disposition to close up accounts
| at the end of the year, and partly 10 the
| neglect of business in favor OF prepara-
L
| tons for the holidays
| There is a natural tendency for prices
70 GAG in such a market, but prices have
| Welded only slightly during the week
| and have fully recovered. They were
nartly sustained by the strength OF in
| dividual stocks, due to special causes
| and partly by the decline Of the Fears oil
anv violent stringency in the money mar
| ket. ,e-
Last weeks payment on Union Pacific
account about Ss5OO,0OO was turned lnt'
| the Treasury in cash. A similar pay
ment is due to the Treasury next Mon
dav but the Secretary of the Treasury
announces that he will leave 100000 OF
| this amount on deposit in New VOTE
banks, If the government bonds. as Sc
| curitv. are forthcoming. The trade es
Inmates that disbursements FOR redemp
ton OF the Pacific bonds up TO Decem
Der 9th will amount TO $l5,eO0OOO. Ih'
payments heretofore made by the UnioI
| Pacific syndicate to the government arr
| still on deposit in New YORK banks.
will thus be seen that the money marke
is secure against disturbance from IN
Union Pacific operations before January
LIST. after which the supply of money vii
he replenished by dividend and interes
disbursements. The Accommodations neces
sary for these disbursements are sun u
he reckoned with i'm the period betor
New Years. After that date the fina
payment of SS500,OO0 by the Union Paclh
Committee Is TO be made, January 9TH
on the other hand, the government VIII
disburse its interest obligations and re
deem the remainder of the Pacific bonds
Ii is estimated that the government VII
have a credit balance, after the clearing
incident to the Union Pacihc payment
| the redemption of the Pacific bonds, ant
| the payments of January interest, of near
| lv $40 900 900. which will be. for the tim
being on deposit I'm New York banks
This balance will be subject 10 with
drawaI from the money market or L
the contingencies of possible CONTINUING
deficit i'm the government revenues. IN
care with which these large transaction
have been arranged TO Offset one anothe
is believed TO have assured the country
money supply against any violent ant
] FLUCTUATIONS,
expected to hold firm at or above IN
present rate, Tor several weeks.
GOLD IMPORTS.
The marked weakness of foreign ex
change. which is now at as low a poin
as was reached during the gold movemen
of last September, has proved sufhcien
70 bring gold, as shown by to-day's an
nouncement of $500 600 coming from Lon
[ If
in the Berlin and London markets, thi
comes as something of a surprise, thong
n heavy import movement of gold late
along was considered certain. In TIL
connection IL is 10 be considered tina
cold received at San Francisco since Au
gust LIST and now in transit from Aus
tralia amounts to $ll,S5,OOO. This Is |
effect a liquidation of Australian indebt
, , edness TO England by the payment c
English debts TO u.s.
The bond market has been more quit
l this week than for some time, and price
are little changed. Government bono
have been weak. The new fs coupon
are off ! is; do. registered old AS, IL.
The total sales of stocks to-day WEI
9S2 4Ol shares. including Chicago, Burlnt
tom and Quincy, 2O.7S0; Manhattan, A.O6
NIetropolitan Street Railway, 1913
Northern Pacific preferred, 1850; Roc
island. s.525: ST. Paul, 1855; Chicae
! Great Western. 6775; Sugar, $500; Yves
I ern Union, 7.lSl.
| MONEY AND EXCHANGE.
Money on call firm at Sq4 per cent
lost loan at 8, and closing offered 6
o1-9G8 per cent. prime mercantile p'
; per. 31-2Q4 per cent.
Sterling exchange closed frmer, VIII
4 actual business in bankers bills
: 49,, o>,st o41 4 for demand and "a 81 Ia