The times. [volume] (Richmond, Va.) 1890-1903, 1897-10-21
FINANCE AND COMMERCE
THE, CLOSING QUOTATIONS or
mONEI.
Offerings and sales 81 the hiehmond To
bacco Exchsnge-fnternai Revenue
Collsetions-- Foreign Advances.

NEW YORK. oct 20-The Evening
Posts London financial cabiegsem says:
The stock markets were idle to-day,
but the time wo& steady. Americans were
especially good, ana closed quiet at me
best though the support here Is Only
professional The dulicst market was
Rrazis which were fiat on reports that
tho negotiations for the sale Of certain
brazilian state railways 20 q foreign syn
dictate have been suspended. am IN
formed in credible quarters that the SAFE
OF American eagles yesterday and to-uay
hy the Bank OF En- gland is really for Ger
many. the reason given being tha'' owlnS
10 the llrhtucss or many or the soNcf-
clrns withdrawn. a pays better 10 take
eagles 40 the present price. The amount
OF eagles WITHDRAWN to-day was f'~,Np'
and the total amount OF bullion was TO-
U0 a cable from the Financial News
New York correspondent attracts much
attention here. 90 affirms that New YORK
hanks have loaned 10 London large
amount Of moicy on long sterling bills.
Evidences Of this are very scanty here
al present and wonder Is excited as 20
how such an operation can pay with dis
count rates here AZ 2ls per cent stu,
the report ls not entirely discreditcd.
The Paris and Berlin markets were ouiet.
To-day's market looked very much as
though am EFFORT was being made 20 test
IL for rise. The bears made an abortive
effort early I'm the day 20 raid the mar
ket and directed an attack against sugar
and Chicago Gas. The failure OF the raid
encouraged the bulls TO aggressive &C
ton. and there were indications Of the
appearance I'm the market Of some large
huving interests which were prominent
In the late rise Of the market. This pro-
fessiOnal buying carried prices mp quite
strongly. net advances thfouEhoul the iist
hoiug rs The bulls were evidently satis-
fed. and then commenced 10 sell 10 real
size profits about half an hour before
the close. This carried prices down IN
iaome cases below last nights close, ana
where net gains remained they were M
almost all cases fractional The success
% the bears was frustrated IN part OWING
10 the special strength in Sugar ana 1hl-
cago Gas. which they relied on 70 Work
n sympathetic decline. sugar VS. strong
on the decision of the Treasury Depart
ment to hold duties on refined sugars
conditiOnaliy liable TO the cOunterVaillng
duty. which applies 10 imported sugars
upon which an export bounty - paid.
chicago Gas derived strength from ru-
mors OF "a compromise with the threatened
competition The market showed consld-
cradle increase OF activity as compared
with the last few days. but was sun al
most purely professional London changed
from its recent attitude and sold stocks
here. Additional reports OF railroad earn
ings for the second week IN October an
show handsome returns, and many vague
rumors were afoat OF still more striking
improvements TO be shown I'm statements
not yet issued. The large movement OF
cotton along me lines recently ititde'u
from quarantine restrictions WIS shown
hv reports and gave strength to the rail-
roads affected. The exchange market
continued firm and the local money mar
kcf easy Some business Is being done In
loans on long sterling which Is In erect
the lending Of money abroad. This nat
urally tends 20 keep up the rate OF eX-
change. The continued ease OF the local
money market and the large resources on
hand by the interior banks. owing 10 the
large payment Of debts following the crop
movement are the inducements for this
deferring the movement or gold TINS way.
Bonds were strong In sympathy with
stocks one 10000 block OF Union Pa
cinc collateral trust notes was sold at
$50. and another block Of 10000 at the
same place Total sales S2,325 600. United
states new as advanced q bid, and the
5s. coupon, declined X bid.
Tine total sales OF stocks to-day were
4O 100 shares, including Atchlson pre-
ferrea. $50. Burlington, p 10; Louisville
and Nashville. 1865. Manhattan, 1900;
Missouri Pacific. 1880 New York Cen
trail. H. SOS. Northern PACING preferred,
1119J. Rock Island. 1888; ST. Paul, %
40. ST. Paul. 1850. Wabash preferred,
200. American Tobacco. 112l9. Bay
state Gas 500; Chicago Gas. - $50. Su-
gar. 1921; Chicago Great Western, II ,135.
MONEY AND EXCHANGING on
call steady at 202i5 per cent; last loan
2i5 per cent. and closed offered at pa
81. fIpr cent, prime mercantile paper,
4u4is per cent Sterling exchange firm,
with actual business in bankers bills at
4S4N64S4i4 for demand, and at 4S2d4S24
FOR sixty days posted rates. 4S2i4d4S3ia
and 4Sjls. commercial bills, 4Sl19 Silver
certificates. 59nG0. bar silver. J9i4 MeNi-
can dollars 454 Government bonds
strong; State bonds dun; railroad bonds
strong