Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-05-25
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT BUsI-
NESS CENTRES OF THE WORLD.
Prices OF Money, Bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce, &c, Foreign
and Domestic.

/
I'm the stock market was attributable
to the decision Of the Supreme Court
in the interstate commerce case. The
| market had derived strength last week
on rumors regarding this decision, but
IT sold off again this morning before
the decision was announced on account
| OF doubt being thrown upon the relia-
bility of last weeks information. In
all the early dealings the hand Of the
professional trader was plainly evident
The morning was given over 10 depres-
sion. on account of the reports that the
Nebraska maximum freight-rate case
would not be decided by the Supreme
Court until fall the decision in the inter-
state commerce case being also in
doubt.
1t is an illustration Of the inconsis-
tency Of the professional traders work.
ing for a short turn in the market, that
in the upward movement that resulted
upon the decision of the interstate COM
merce case, the postponement of the Ne
braska case was offered as a bull argu-
ment. on the ground that the lower
courts injunction stands. and will stand
until the decision Of the court In Octo-
Der. Ii IS also pointed out that the spe-
cial session Of the Nebraska Legislature
10 correct the law, which was in con-
temptation in the event Of its validity
being denied. will now be avoided.
The gold shipments announced for to-
morrow. amounting to s22lO.OO0 also had
depressing effect. There was also news
of further shipments in contemplation
later in the week.
quite an uHSonted degree Of buoyancy
and animation was impaired to the
market by the Supreme Courts inter-
state commerce decision. This is re-
garded as the most important decision
in its effect on railroad values since the
Trans-M Missouri decision. Part of the
strength impaired TO railroad stocks BY
this decision is due to a belief that II
win serve TO hasten the enactment Of
a law by Congress TO authorize pooling,
with the required approval of the Inter-
state Commerce Commission of any such
agreement 10 make IL binding.
The early heayiness had carried down
pretty much the whole market the de-
cline extending 10 Ii in Burlington,
which was the leader OF the market in
point Of activity. This stock also derived
the greatest benefit from the rally, the
gain being . IL per cent. The following
stocks also rose a point or more from
the low prices: Atchison, preferred,
Cincinnati, Cleveland and st. Louis, st.
Paul Rock Island. omaha, Lake Shore,
Louisville and Nashville. Manhattan,
Northern Pacific preferred. Norfolk and
Western preferred, Western Union,
Leather preferred, Sugar. Tobacco, and
General Electric New Jersey Central
-, I'll I'll
gained 31-4 on a covering movement,
Delaware and Hudson rising 1-2a1 in
sympathy. American Spirits lost II on
the day. Chicago Gas was quite era
tic. but gained sharp net fraction
The closing was strong and buoyant
and generally at top prices. The total
sale of stocks for the day amounted TO
100 SIG shares. including American Sugar
Refinery. 500; Burlington and Quincy,
80 eco; Rock Island, $500; st. Paul, 2lllO;
New Jersey Central, 2,ilO. The BOND
market was quite active with a ten
dency towards higher prices, which be-
came quite marked in the closing zeal
ings among few speculative issues.
The Gains generally did not exceed frac-
tlonal limits. with Atchison adjustment
As conspicuous for gain of l per cent.
The sales were SSB.tUO.
Government bonds were dull, but
showed decided strength in the late
dealings.
MONEY AND EXCHANGE.
Money on call easy AT l-4Ul IL per
cent; last foan at l IL per cent; and
closing offered at l-40l IL per cent;
prime mercantile paper, 1-2ai per cent.
Sterling exchange easy, with actual
business in bankers bills at SiSi4StS 1t
for demand and Si.S6aSLs6 Ia for sixty
days; posted rates, SiS' and Si.SSgSLSS l.;
commercial bills, $i.S.
silver certificates. 90 l-sQ6O SIS; bar sill