Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-11-19
MARKET QUOTATIONS.
REPORTS FROM ALI. GREAT BUsI-
NESS CENTRES OF THE WORLD.
Prices Of Honey, bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce. 60, Fsreigs
and Domestic.

NEW YORK. November 1S.-The vol
ume OF transactions on the Stock Ex-
change to-day was even smaller, and
changes In prices even less. than yester-
day. Prices of securities have apparent
ly come to a condition OF equilibrium,
and speculation is, for the time being.
dead. Even the small changes in price
which occurred to-day, and which were
nearly all gains, were due to the mani
pulative operations with which the room
traders amused themselves. AS these
operations involve the matching Of the
buying order with a corresponding SELL
ing order for the purpose Of attracting
outside buying or selling. the net results
is very close to nothing. Sugar displayed
some speculative strength. on account OF
buying, attributed TO Washington ac-
count, the Consolidated Gas flashed up
and down in Its customary meteoric
style, jumping at one time six points,
and reacting IL. The Coalers were
weak, on rumors that there we're obsta-
Giles in the way OF the proposed agree
ment to restrict the output.
Although speculative buying was so
restricted, there continued to be evident
some good buying Of the very high-grade
bonds, whose security is or the best,
though with q low return or interest.
This class Of buying is a natural out
come Of the easy condition Of the money
market. and the doubtful outlook for
speculation. Bond houses report that
there are quite large offerings OF these
bonds for foreign account, the foreign
holders being tempted by the high range
of prices for them, existing in this mar
ket. II Is quite possible that this class
of selling for foreign account has mucn
to do with keeping up the rate OF ex-
change, in face OF the conditions that
would tend TO weaken II, and In spite
of the tendency toward ease In the rates
for money ON London. The trade balance
in our favor for three months, including
October, is nearly Sl65 10000.
London has been a buyer in this mar
ket Of low-priced speculative securities
during the last few weeks, as 1t was
to-day. Foreign capital is known to have
quite a large interest In the Union IA
cific reorganization syndicate, and pay
ments from abroad in proportion are
due In this market. The operation Oh
borrowing money on sterling exchange,
which tends to keep up the rate OF ex-
change, has apparently ceased. Inc con-
tinued maintenance Of the rate OF ex-
change above the gold-import point, UNI
der these circumstances, is not easy TO
understand, but sales for foreign account
OF high-grade investment bonds would
aid in explaining 1t.
A report from Chicago that there is
talk there of a reduction in interest
rates on bank balances to l 1-2 per cent.
shows that the abundance OF money ex-
tends to the interior. The immense flrst
payment of nearly So 000, 900 by the Union
Pacific Company has made no impression
whatever on the local money market.
The DAYS returns of railroad earnings
all continued markedly favorable, notably
IN the case of Southwestern and far west
ern railroads, and of the soft-coal roads.
Reports from the West indicate that the
large earnings are due In no small part
to the west-bound movement OF mer-
chandise. showing the activity Of general
business.
Bonds were more active In proportion
than stocks. Improvement was shown
in the high-grade issues. Total sales,
81, 200 900.
United States SIS, registered. declined
Is bid.
The total sales Of stocks were 147,6oo
shares. including Chicago, Burlington and
Quincy, ais; Rock Island, 1850; st.
paul. $3.50; Peoples Gas, 1855; Consoli-
dated Gas, $3.50; Sugar, $3.50.
MONEY AND EXCHANGE.
Money on call steady at 1922 per
cent. last loan at per cent, and closing
offered at 1-2Q2 per cent; prime mer-
camille paper S1-244 IL per cent.
Sterling exchange steady, with actual
business In bankers bills at AS5 Lag
st&1-2 for demand and si.S2 "a for sixty
days; posted rates. si.SS 1-2qsis6 IL; com
mercial bills, S4.S2
silver certificates, 5SQ59 10; bar silver,
~ rs: Mexican dollars, 40 IL.
Government bonds firm. state PONDS
duh. Railroad bonds firm.
FOREIGN STOCK MARKET.
The Evening Posts financial cablegram
saws: The stock markets remain stagnant
and featureless Americans were bet
ter after a period of duiness. but there
was no great activity
petals of the gold movement for the
xveek show $4,000 from the Cape and the
sale of 10000 in eagles for the Continent
The paris bourse and Berlin market
were dull.
nav YORK STOCK QUOTATIONS..
Closing stocks.