Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-10-15
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT BUsI-
NESS CENTRES OBI THE WORLD.
Prices of Honey, Bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce, TO-, Foreign
and Domestic.

likened to the toilsome and arduous ef-
forts of a weakened animal TO climb Ia
a secure station, only to be continually
tumbled backward by single hostile
stroke. The success of bears in depress-
ing prices led them occasionally TO take
profits. These spasmodic covering move
ments were achieved without effecting
any marked change in the general level
of prices. and the upward course soon
resulted in an almost stagnant condition.
There would be spirit of activity when
ever the bears renewed their raid ana
apparently the desire to sell only ceased
when the bears ceased setting the ex-
ample by short selling.
Chicago Gas continued to occupy by far
| the largest share of attention, and ranged
over 5-S points during the day. Large
supporting orders were in the market at
| the opening. so that the initial sale was
at fractional advance over last nights
close, but this was the highest quotation
OF the day, and the majority Of the deal
ings was at a level considerably over a
point below the last nights close.
Sugar, which came next in point of ac-
tivity, was also under very heavy pres
sure, and declined at one time 3 points
below last nights level.
The firmest tone of the market during
the day was in the last hour, and 1t
looked as though prices would be allowed
TO recover 10 within a fraction OF last
nights close, but a renewed drive in the
last ten minutes Of trading knocked the
toiisome climber again. Net losses ranged
from l to per cent. in the most active
stocks in the list.
The Southern railroads and the South
westerns, and some of the Coalers, show
ed the greatest weakness In the railroad
list. Manhattan was also quite severely
handled There was no reflection Of any
development in the affairs of the day,
but the market remained wholly profess
sional. The fact was demonstrated with
sufficient clearness that yesterdays re-
covery was not the resumption of a sus-
tanned upward course of prices, but was
simply professional manipulation TO cover
short contracts which had been freely
put out for day or two previously.
The gold which was shipped from Eu- |
rope last week began to arrive to-day, |
S2OOOOO being deposited in the assay office /
and s55O,ONQ in the clearinghouse vaults.
The money market continues easy, |
though with no appreciable change in |
rates Sterling exchange was steady, in |
spite of the advance TO per cent. in the |
Bank of England's rate of discount.
No further engagements of gold for
import are announced, but they are con-
sidered likely before the week closes.
and the sharp fall in the rate of exchange |
on Paris leads to the supposition that
the next shipments will be from there
The trade statement for September.
issued by the government, makes II
likely that the increase of exports over
imports for that month will be SIS, OOO. 600
against nearly 81, 900 for August. and
over Sl7,01000O for July. The delayed cot
ton movement, which has not attained
its full force. insures an additional heavy
trade balance in favor of this country
for the current month.
Dealings in bonds were on n reduced
scale, and the tone was weak, though
were unimportant. Total
sales, 81 $4,000
United States bonds. old As, were adj
vanced Is.
The total sales Of stocks to-day were
39l $50 shares, including Atchison pre-
ferrcd. 1881; Chesapeake and Ohio, 5000: |
Louisville and Nashville. 1910; Missouri
Pacific, S.737; Northern Pacific preferred.
70, 6i3; Reading, $780, Rock Island, 1897;
st. Paul. 1850; Union Pacific. 100; Bay
State Gas, 5,445; Chicago Gas. 1890;
Sugar 1902; Western Union, 5O75; Chi
tdSO treat western, III DID
MONEY AND EXCHANGE.
p. M.-Money on call steady at 21-26D :
per cent; last loan at 3; closing offered
At 21-2d3 per cent; prime mercantile ,
paper, Apps per cent.
Sterling exchange steady, with actual :
business in bankers bills at s4.Sf 3-s for
demand, and s4sl 3-4qs4& for sixty days;
posted rates. A.S2 l-2GA.S3 IL and $i&0 ,
a O. .. cOu,narcioI hills 10
Silver certificates. 81 1-2Q5S. Bar silver,
Z 3-4 Mexican dollars. Al.
Government bonds firm. State bonds
lull. Railroad bonds weak !
FOREIGN STOCK MARKETS. S
The Evening Posts London financial
ablegram says: The stock markets were {
uiet and irregular to-day. The rise in \
he Bank of Englands minimum dis
cunt rate from 2 l-2 TO 3 per cent had ,
% effect There was a sharp decline in ,
;rand Trunk because at the meeting to- 4
ay no proposition was made by the
irectors for funding the accumulated de- ;
cit. The best Informed people, how >
yer. never expected or desired such a q
cheme. The speculation in West Au- G
tralian mines increases.
Americans were dull on the New York
,ad. but they rallied tonight on New ..
ork prices. The disposition here IS to =
and aside on Americans. awaiting \
earer definition OF the New York po- p
ton. y
The gold movement for the week shows I
15 900 in eagles sold, the export of f2i6.000 "
, Egypt. of 100000 to the Continent. and o.
10000 TO South America, and the re- -
int of f25 900 from Australia. "
7 understand. but cannot confidently "
;sert. that the Bank has to-day bor-
wed money on consols. IL this policy a
IS been adopted it is an important point. A
cause IL means rather lighter money 1
re. VI
,rhe Paris and Berlin markets were VI
net.
>Ru YORK STOCK QUOTATIONS.