The times. [volume] (Richmond, Va.) 1890-1903, 1897-08-11
FINANCE AND COMMERCE
THH CLOSING QUOTATIONS or
MONEY.
Offerings and sales AT the Richmond To.
bacco Exchangs-Internal Revenue
Collections Foreign Advances.

NEW YORK, August iO-The price Of
most stocks This evening was distinctly
higher than last evening. the gains cN-
tending To- over point IN some OF lhe
most prominent stocks. There are Sew
Cral reasons why this net result OF inc
days trading Is particularly notable "H
Indicating the rcCuperative power on ga.
market Tn the first place. the MAJ nv
opened with yesterdays disposition 10
take profits apparently sull ramPan.
The offerings for this purpose were Ntt,E
heavy, and the market sold on siat ~
under tho large transactions lhe eecll.t
was accelerated hy the pressure OF hhoI
sales, professional operators being coz,
WINGED that reaction OF conslaeIaD.t
proportions was impending. ne k'"'lh,,
were subjected 20 The sevcrest pIess"i
but fow active stocks escaped l9ss on
near n point BY The time the dechhe
had reached this proportion tho oUeil.E.
began 90 show signs az dimnuuon, N"1,
whaling Indication or ON unofItohc 90
strength ga q falling market ana prices
After n period OF dullncss they resumed
an upward course. and advanced st'aulis
and strongly for the rest OF tne gay OF
"a continuing increase OF business
large part Of the shares which were Pre-
cipifatciv thrown over yesterday m tht
desire 20 realize profits were bought naoh
to-day. many OF them below the lcNcl at
which thoy were sold. The carry shoit
sellers. many Of them felt impcllcd 10
accept the Inevitable tendency 10 al
vance in view Of the decisive test or the
reactionary power Of the market. which
was given On the morning This rccupera-
ton was effected in face OF selling Tor
London account on rather larger volume
than usual and Of especially severe &c
Clincg of American on the London Tx
change Tho DAY was the fOrtnightly set
Element and delivery day ON the LONDON
Exchange. Tho belief had prevailed IN
some minds that the recent selling OF
Americans hy London was for short ac'
N...f N... ..fN lar nj a.
close the fact in an increased demand 10
cover shorts. Contrary 90 the oNpecta-
tions Of this class. London sold gu tho
international stocks very freely, with tho
exception OF Northern Pacific preferred.
The day was marked by a further decline
in sterling exchange or posted rates 10
ASH andfS6h for long and short, re-
spcCtively and actual rates 4Na ana 4NJfs
f0r long and short Rates for time money
FOR the longer periods hardened, ana tnls
invited some sCllinf Of long sterling hiIli
Tor future use the proceeds being put
into loans Discount hardened I'm London.
and there was active bidding there Tor
gold Crop prospects, reports OF foreign
crop shortage and the accompanying rise
in the wheat market all continued faV-
orabio 20 the advance IN prices OF stocks
as did the further reports Of current rail-
road earnings. The total decline was
more than recovered I'm all stocks, but
the not gains extend 10 point IN only
few shares
the tNNNA SAFES Oh NlNNhN li-'lAN Nf'N
534 9G2 shares. including Atchison pre-
ferred, - go: Chesapeake and ohio,
5145: Chicago. Burlington and quincy,
~ 90. Ere new 1880. Illinois Central,
1Og5, Louisville and Nashville 1IT3;
Manhattan Elevated. G2lO: Missouri Pa
cifc 1925 New Jersey Central S0Gl
New York Central. 1866; Northern Pa
cifc 5.O1f. do preferred. 90 100; Reading.
ne 600: Rock Island. II 500: st. Paul. g.
$50: ST. Paul and Omaha, . 500. Southern
railway preferred, $3.50: American Spr-
its 12.f20: American Tobacco. II 594: Bay
state Gas 1908; Chicago Gas. $3.50; La
Clode Gas 3. $50, Sugar, 1872; Tennessee
coal and Iron. 1851; Chicago Great West
Crn IS. $40.
Tho band market gave decided evidence
Of strength on liberal purchases on the
advance I'm some Of the prominent issues
business was iu considerable volume, but
the aggregate showed considerable
shrinkage from yesterdays total The
total transactions were S3,425 coo.
Trading iu Government bonds was tea-
tured by a sale OF a block of $4,000 OF
thc new coupon as, The market ruled
heavy with "a slight shading I'm quota
tons az the close.
MONEY AND E%CHANGE.-Money on
call easy at lulla per cent; prime mer-
camille paper. 4 per cent Sterling cX-
change weak. with actual business in
bankers bills at 1SlH-Ui"ll2 for demand
and at 1893, 04Si for sixty days. posted
rates. 4S4M04SGis and 4NGiaN4N1ll. COM
mercial bills 4Si Silver certificates. no
quotation: bar silver. 55k. Mexican dol
lars 42ih. Government bonds weak, state
bonds dull railroad bonds strong.