The times. [volume] (Richmond, Va.) 1890-1903, 1897-10-01
FINANCE AND COMMERCE
TaB eAvSlNG QUOTATIONS Of
aONEY.
Offerings and sales At tho Richmond To
bsceo Exchange-Insernal Revenue
-coiiections-- Foreign Advances

NeNy WORK. sept. 20 The Evening
Poo Is Lobdon financial cablegram says
Thot4toek markets here were kool ~
day. except Americans. wnlch ioHoW'u .ne
New York lead and closed az about me
lowest N Is not likely that there VIII
be any strong renewal OF buying OF Amer
leans here until the New YORK position
has been more clearly defined. Il y still
believed. however. tha' NeM loik W"
soon start an upward movement again,
as tho inactivity there il Increasingly
credited here. Mines were good. ana tne
papers talk OF a transicrcuce % 3ttH-
ton from Americans 70 mem. inah Wv Wv.
ever practically lcpcnds on the NeW
York Initiative. South Americans were
IN favor. notably Argcntincs and hfazhs.
Short time loans are in demand htlt, ~
IS usual on the last day OF the mon,n,
and the bank lent a considerable ti"ouilt
to-day. Paris ana Befhh MAJ
firm.
There was no sign OF anything IN To-
DAYS stock market TO give cho'"' 1A.
nent to the hone Of those VINO pI'tos 70
believe that the mgrket has run az 80 ie
so far as reaction Is c0nceIncu. s.hr
ready 20 resume It's upward gu. diefcr
character Of the dealings oie no. IL
in any reepect from those OF yt9te. "SS-
Prices were raided down wlth 5it1e 20
cilitv. and the declines lnVllSl i"t iiS7',rred
fcrinCS The slight ialh'o WIZ " 80 an
a fo,y times on .thc contrary, leu 20 90. o.
Utmost total cessation OF activity, an" ny
inward course Of prices was haltHls Snu
difficult The net decline achlsNeu 100 .s
IL very much greater tilan t ma reser.ved
their greatest efforts FOR the ~. Iieil
hour OF trading leaving no opgvsluI its
Tor recovery before the close. rms Ma9
annarentlv owing 10 m excess OF con-
@taree az, Tho mart of the bears, who were
Intent 10 leave their short contracts un-
covered overnight instead oil Iednzils
immediately The market continued az
most wholly professional, anu NJ roo,,
ings seemed "a be contne4 10 the Ioolu
traders except where the Sharp dechhes
uncovered orders placed to STOP losses;
These were in large volume, anu dluto
dav was the reversal Of the positions on
opcrators for the London account WIZ
were sellers to-day London prices az"
came lower. and this was said 10 DC que
90 a resumption Of the scllhb lneIe l~'
New York account, which was so per
eistontlv adhered to up 10 snort tllhe
since The statement of earnings OF
burlington for August had been eNpeclvu
to check the decline IN prices out 80 -
orabie as II was 10 had not only been ialI
~ discounted but exaggerated Iepvlts
Of the extent OF the improvement ha9
been fairly discounted, but eNasberateo
reports Of the extent or the liipi ~ 'ii'l.t
had been put i'm circulation Tor erect on
speculation. The actual result, showing
an increase I'm net earnings Tor the nonth
Of S344 276. IS ample indication OF lne
enormously increased trailc NiiCh ~
being handled by the railroads. weekly
earnings to hand for the third week OF
the current month were equally encoutaB-
ing the Improvement extending even 10
some Of the soft coal roads, which nave
long suffered from the depressing con-
ditons I'm that trade.
me resignation Of the Spanish Minis
trv and the prospects of Liberal Gov
rrnment I'm Spain were accepted as tehu-
ing 10 amclOrate the relations between
the United States. ana
the news that cOnciliatOry proposals from
the Cuban insurgents had been received
az Madrid also tended TO deprive the Doit-
.rs of their pet weapon, the Cuban ques-
ton. A decline in sterling exchange OF
i5c. posted rates and &c. In actual rates
brought the price appreciaby nearer 10
the gold import point. and was layoilhs
factor TO increase in prices, as wei as Il
slightly easier tone in the money market.
Tho bears forced decline in spite OF an
these conditions. and made especlaly
fierce raids on special stocks. 800, g..
Values Of railroad mortgages held nrm
against the decline in stocks on reduced
dealings The total sales reported only
81 225. 600. Government bonds were strong,
The new ana the old as and the Js We're
advanced - and u bid all around. Ihere
were sales OF the new As, coupon at
fbc totai sales or Stocks to-day were
go2 900 shares including Atkinson pre-
ferred. 9.G2i Chicago, Burlington ana
Quincy Al GA. Hooking valley lV'VDl'
Manhattan Elevated. 7,l63; Missouri Pa
cifc. $3.50: Northern Pacific preterre9,
~ $40: Reading 6.2lO; Rock Island, 1922
81. Paul. 2J.270: Union Pacific. llo9S; m I'm.
caeo Gas. $500: Consolidated Gas, 800
chicago Great Western, 5000
MONEY AND EXCHANGE.-Mone on
call steady at 2i4M3 per cent last loan
et Der cent. and closed offered az . per
cent. prime mercantile paper 4hmo per
cent. Sterling exchange weak. with ac-
tual business i'm bankers bills at 4s4rl Tor
demand and at 4S2i4miS2M Tor sixty days
posted rates. 4S3d4S4 and 4SjlAafs6; com
mercial bills 4Sfm4S1l2 Silver certih-
Gates. 54%0j6; bar silver. 54h;I Mexican
dollars. 42h. Government bonds strong;
State bonds dull railway bonds iirm.