Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-11-28
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT RusI-
NESS CENTRES OF THE WORLD.
Prices OF Money. ponds, stecis,
Grain. Tobacco, Cotton. Cattle,
Country Produce, &C. Ferefga
and Domestic.


hour OF tho Saturday short session. The
volume OF the dealings and the general
movement OF prices were greater than
have been seen for several weeks past
The temperance on the board-room floor
OF one OF the principal operators during
che summer rise in prices. and the dis
,ribution Of large orders for his account,
,,ero undoubtedly the principal causes OF
,sc rise. The resistance Of the market
curing the week TO pressure. and the
rradual hardening of prices in spite OF
ne dulness. had laid the foundation for
m advance in prices under q confident
leadership The strength manifested
alarmed the shorts. and they FASTENED 10
cover. thus helping along the rise.
u was noticeable that the strength ana
c.,lyity we're transferred from the Spe-
cialtics and the Industrial stocks 10 the
standard railroad shares. Gains OF about
a rolnt or over were registered in the
Grancers. the Coalers. and in number
OF the trunk lines.
The southern lines Jagged in rather
conspicuous manner. notwithstanding the
strong statement OF the Atchison Com
many for october. showing an increase in
net earnings Of $1S5.799.
No small part Of the strength in the
railway list was due 10 the anticipation
that tho Supreme Court. upon reassem-
bling on Monday. after its autumn re-
ssss. will hand down a decision in the
Nebraska maximum freight-rate case ia
yorable 20 tho railways. This decision
has long been looked forward TO to give
an upward impetus TO prices, and prices
have. in fact, been several times ad-
vanced on the assumption that it would
be favorable. and have subsequently re-
acted.
Sugar was strong. and easily led the
list. with an advance Of 5-S. on reports
that a decision from the Treasury De-
r4rtment would soon be forthcoming,
auplying the cOultervailing duty clause
90 Dutch refined sugars.
THE BANK STATEMENT.
The bank statement was about what
WAS expected. Although there was an
actual increase In cash reserve Of $685.
20 the legal reserve was raised by more
than that amount, owing to the tremen-
dous increase Of S16,744.100 in the de-
posts. The surplus reserve increase has
fallen off by SS7,325. The excess OF the
Increase in deposits over that in loans
reflects the movement of currency from
he interior TO this centre. The large
pr0p0rtionate increases I'm loans and de-
:0s.ts are, Of course, reflections Of the
Union Pacific payment on Monday.
The condition Of the money market
has been Of greater Importance during
the week than that Of the stock market.
The heavy Union Pacific payment made
not the slightest impression on the mar
ket. OF course the fact that the gov
eminent left the whole amount on de-
posit after its payment obviated its ac-
tusl withdrawal from the market, but
the fact remains that the raising Of an
enormous amount of cash was effected
and an extensive shifting Of loans and
credits accomplished without producing
a strengthening effect on the money rate
Even the resumption Of business activity
in the South. with the removal Of yellow
fever guarantees, has failed TO result in
any notable demand for money from
that quarter.
BALANCE OF TRADE.
There has been some buying OF long |
sterling for investment during the week, |
based on the supposition that the balance |
OF trade may have shifted by the time IL |
and so have raised the rates for |
exchange. II is worthy Of special notice |
N this connection that the imports OF |
iry-goods and general merchandise for |
he week at New York show an increase
IF &, 573. 40, or nearly 46 per cent. over ]
hose of last week, and they exceeded
hose Of the corresponding period Of last
year by over 81 10000. If this indicates |
settled tendency OF foreign trade, it
viii not only mark the beginning Of
settlement Of the heavy trade balance In
,ur favor, which is a potential factor in
he case of the domestic money market,
nut IL marks an increase in the govern
aents revenues on imports, and conse-
uently a decrease in the deficit which is
instantly running from the Treasury
ato the channels Of the money market
The foreign exchange market has pro
ably felt the effect Of the weeks sales
( American securities for London ac-
cunt in this market. London has sold |
ute steadily of the stocks which make
. the bulk of ordinary arbitrage opera
ions. but there have also been large
ales OF high-grade investment bonds by
hat centre owing to the high range OF
rices prevailing here. Remittances TO
ay for these have helped to keep the
market firm.
The stock market has offered almost |
10 feature Of interest during the week.
The feature OF tho bond market has been
he large demand and the meagre Of
erug Of high-grade bonds. The market
las not been notably active, but prices
IRE generally slightly higher. Total sales.
10000.
United States old As, registered, are {
s higher. bid: the old As, coupon, and {
he new as IA higher, bid, and the 6s,
s lower. bid
The total sales OF stocks were 49, 800
hares including Chicago, Burlington and {
quincy. 2,765; Manhattan l., 1928; North
m Pacific preferred, 1885; Rock Is {
md, 1884; St. Paul, SAP; Peoples Gas, I
rs; Sugar. 1905. 7
MONEY AND EXCHANGE. .
Money on call nominally l 1-242 per
mt; prime mercantile paper, 3q3 1-2 per ;
mt. :
Sterling exchange strong, with actual !
isiness IN bankers bills at 1876 7-SQ ;
s. for demand and AS3aA.S Is Tor 9
xty days; posted rates. S4.S3 1-2d4.A ?
nd A.81-2QA.S7; commercial Bills o
.S21-4. \
Bar silver. 5S7-S; Mexican dollars. IS rs. =
State bonds dull Railroad bonds firm. \
1vernment bonds firm.
NEW YORK STOCK QUOTATIONS.: b
chisoa. Topeka aod SANTA Fs.....-.......i 2ss >
5n son, preferred .................- ...s.. StS y
fillmore aud OniO OBSERVATION-DISCLOSURES. ~ 81
,nhQd Tatuc-...s ......s ....s ...ss''' oU14 e.
naQa southern. 's..........-.-s'''''' "oR
nlral facuc taVVH N
esaDeehe Ail Ohl0. .-..s....s. .-''', SoH "a
ilcsRO Anc Alton ............ -
icago, burnngtonznf - uncY............ Saa4 m
1ssgO aud Eastern Illinois. ............ b2IB in
~" y aua 81 LOuls.... .......''.'''" "a n