Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-09-24
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. September 23.-The re-
covery in prices which began yesterday,
was continued to-day, during the earlier
part Of the session Of the Stock Ex-
change, and the advance in the prices
of all stocks was apparently in full force
again until the afternoon, when the
support seemed to be withdrawn from
the market, and prices fell away to a
general level below last nights close.
The rise was stimulated by the announce
ment that a local bank had engaged
81. 900 in gold in France for import
TO this country, making total, with
yesterdays engagement, of $2500,o 600 gold
due to arrive. Receipts of gold reported
from San Francisco as arriving there
from Australia also helped the recovery.
The action of the Bank of England in
advancing it's rate of discount IL per
cent, to 2 IL per cent, was anticipated,
in view of the continued depletion of its
gold holdings. and the additional strain
of yesterdays withdrawal for shipment
TO this country.
The strength of Sugar. which rose
nearly four points on the reported in
tention Of the Treasury Department to
apply the countervailing duty on Dutch
refined" sugars, helped along the rise.
There was support afforded the market
all through by heavy buying on the part
of some of the bull operators who have
been conspicuous in the recent rise.
The effect of the gold import move
ment was largely dissipated during the
day by scepticism as TO its natural
character. The exchange bankers who
usually handle the movement of gold.
both import and export. were unanimous
in the opinion that at the ruling rate
Of sterling and Continental exchange
here. and of gold in London and Paris,
| there was no profit in the importation
| of gold, and the figures OF most of them
would indicate quite a heavy loss on
the operation. Much curiosity was ex-
| pressed as TO the identity of the clients
for whom the banks are making the
| importation, and the opinion was quite
| freely expressed that the operation was
designed entirely to influence the price
! of stocks.
The failure Of the exchange market TO
harden under the announcement was
| quite noticeable Equally so was the
| continued firmness of rates for local
money, which became pretty well estab-
lished on the basis of 3 per cent.
Later the upward prices were checked
| and there were periods of dulness, fol-
| lowed by a steady decline to the close,
the upward course of the morning being
retraced in the afternoon. The changes
exceeded a fraction in a small number
| of cases.
Among the less active stocks gains of
a point or over were shown by Cotton
Oil preferred. Lake Shore, Minneapolis
| and st. Louis e Ia, ditto on second pre-
| ferred, Norfolk and Western preferred,
| Oregon Navigation preferred, and Pull
| man.
/ Rumors were disseminated late in the
day of further engagements of gold for
| import, but they exercised no influence
on the market.
The total sales Of stocks to-day amount
ed to 81 400 shares. including Chicago,
! Burlington and Quincy, l,4S2; Louisville
and Nashville. 1880; Manhattan L., 6.760;
| New Jersey Central. 1855: New York
| Central. 7.lSS: Reading. 26,161; Rock Is
land 142lO: st. Paul. 2sS25; ST. Paul and
| Omaha, 600; Chicago Gas, CLIO; Lead.
1886: Sugar. 72425 Tennessee Coal and
Iron 5,05j; Western Union, 9VOS; Chicago
! Great Western, 10,791.
Dealings in bonds showed a falling off
in volume. and prices moved up in sym
nathy with stocks. Total sales S2.SO0,0o
| United States new As advanced IL.
MONEY AND EXCHANGE.
Money on call firm at 2G3 per cent;
last loan at per cent, and closing Of
fered at 2G2 10 per cent; prime mercan-
| tile paper. 1915 per cent.
Sterling exchange steady. with actual
business in bankers bills at $.Si 3-4G1
s4S47-s for demand 'and s4.S2 S-Sasi.S IL
| for sixty days. posted rates. s4.SQ$.Si
and si.S5 1-2QsiS6; commercial bills. Aa
silver certificates, Sc 1-2q5S; bar silver,
| Sc 3-4: Mexican dollars, AZ.
Government bonds strong. state bonGs
dull. Railway bonds strong.
FOREIGN STOCK MARKET.
The Evening Posts London financial
| cablegram says The change IN the as
count of the Bank OF England, announced
to-day. had no effect on the stock mar
kets having been fully anticipated. In
| deed II is believed that the rates would
have been raised to 3 per cent, but for
| tho fact that treasury bills amounting TO
| 90 coo 600 are TO be issued next week.
the feature in the market to-day was
the speedy revival in Americans. the dis
nosition. as cabled you yesterday. here
and on the Continent, TO buy on the de-
cline being unmistakable to-day. Prices
closed at the best. Union Pacific and
| Reading were especially StronS. pidhu
trunk and Canada Pacific were also good.
| Mines were better.
Oninions as to the date Of the next ship
ment of gold TO New York differ widely
EVERY one is saying that the movement
Is entirely exceptional, and will probably
not be repeated. but the shrewd ones
nrefer 10 hold their opinions in suspense,
rendine the course OF the New York
money market.
netails of the gold movement for the
,yeel show the receipts of flO.VoOOyo from
Ausrralia. the export of 10000 TO the
Continent. of $4,000 to Egypt, and OF
COO COO 10 South America, and the sale OF
s-oi 600 in bars and eagles. or this lat
ter amount about 100000 was for Russia.
,shere a considerable industrial revival
is said TO be going on. =, o..,oa
Tire local discount market is unsettled
~, the change in the bank rate, put Is
Ia, comnaratively easy.
rhe paris and Berlin markets were
Nvw YORK STOCK QUOTATIONS. ,o,,.
.,.,,...s .ropeks aed Ssntb rs 1859 1873
| xtch son preferred ........'....'''' 1880 ISW
It,,ore and OaI1.... ...s.sss'.'s''''''' 1St-