The times. [volume] (Richmond, Va.) 1890-1903, 1897-05-04
FINANCE AND COMMERCE
the CLOSING QUOTATIONS OF
MONEY.
Offering. aud sales at the Richmond Tos
bacco Eschange-fnternai Revenue
Collections Foreign Advances.

NEW YORK, May 3-Thore was n
gIeaty improved tone TO the dealings In
stocks to-day. and values held apptecia-
bly, nrmer. The volume Of trading also
increased somewhat. but II Is stlli extra
ordinarily small This reflects the IN
creased confidence OF the stock market
concerning the ship nents of gold to
Europe. Fears On this score have party
abatcd The fact that new engagements
for export were made to-day, with actual
business being done IN demand sterling
for Si.S7. TO the pounds, confirms the
belief that the gold movement Is not the
result of natural settlement OF trace
balances. but OF "A special demand FOR gold
involving the payment OF premium ior
g. The closest estimate that can be mace
shows the profit On gold shipments 10
cease when demand sterling falls 10 $4oS.
" be fact that premium must be palu
for the present gold shipments Is coming
20 cause the operation TO be regarded rs
a business operation profitable 10 the
country. and as "a healthy INDICATION OF
the abundant supply OF gold in the conn
try. marking II as the best course "
supplv for "a special demand such as thal
Of Austria at present with RUSSIA am
Japan also strongly attracting Roid' al
Of this demand being for currency con-
version purposes. Although the ehi''u
States Treasury has supplied nearly d"
Of this stock Of gold for the present move
ment. the movement OF goa h,o ~
Treasury continues n appu M IL
same rate as for some time past ne
current Government receipts also are III
excess OF expenditures. because OF 'nc
heavy imDortatiOns Of dutiaole wercnan-
disc TO anticipate the new teilH III.
While these importations serve 10 make
the exchange situation more "1.cise'
their benefit 10 the united states ll'n9-
ury and the consequent safeguard 10 the
currency is viewed as a compensation, IN
part at least The fact that the price OF
gold bars. and American eagles were re-
duced in London. and that the faIls rates
for sterling exchange rose slightly nave
also given rise 10 a belief that there may
be only "a small shipment Or Sol'l, OF none
al all by next Saturdays steamer. Inc
brighter aspect Of affairs on the LoUuon
Exchange was also a favorable FACTOR IN
to-dov's market. Gains ranging from
10 la occurred IN Northern racine pa,
IouisvIlle and Nashville. New Jersey
Central 81 gar. Tobacco, Consond'lteu
Gas and Prooklyn Union Gas. me gam
I'm the Changers averaged "a, ana lfac-
tional gains were genera. all through the
list che railways closing at near tOp
rrices The bears attacked special stocks
I'm an effort TO stem the Improvement; anu
worked the lines successfully IN the tsould
stocks. The total sales Of stocks amount
ed 10 100 6lS shares. included American
sugar Refinery. 200. Chicago Gas, To-
200. 81. Paul, 600; Manhattan Conson-
dated, 5000: Tennessee Coal ana IRON.
r aO0: Western Union Telegraph COM
pany. 10000 .s
Tht bond market displayed increased
activity. and there was a naterial oroau-
ming 10 the dealings. A number or me
usually inactive shares participated III
the speculation. The changes lacked con-
sequence. but decidedly firm tone w3 ,s
npDarent The aggregate OF tne s'lc
was 100000. Gov ernments were press
ed for sale. and showed sions. OF
slight fraction in the more active ISSUES.
The sales were $4,000.
MONEY AND EXCHANGE: Money on
cali easv AT 1kd2 per cent; last loan :
rer cent: closed offered at ka2 per cent:
i.rime mercantile paper 3hu4 per cent;
sterling exchange steady, with a ec,u11l
business I'm bankers bills at 4stHpto, p
for demand and at 4S6hd4s6i3 Tor SIXTY
DAYS: posted rates. 4s7Q4ssl9 commerSiaI
hills 4S5B. Silver certificates 6iA pdi
silver. 81. Government bords weak Sta'e
bonds dull; railroad bonds hrin-