The times. [volume] (Richmond, Va.) 1890-1903, 1897-07-25
FINANCE AND COMMERCE
TaE CLOSING QUOTATIONS or
MONEY.
Offerings aud Sales ut the Richmond To-
bacco Ixchange--Internal Revenue
Collections-Forcign Advances.


NEW YORK. Ju,y 2i-Thc forcgone
conclusion that the tarin question VII
be settled to-day auG tno cereal aud CO..
ton crops commune promising lent 'no
stock market further strength 800,
except an the faal nalf hour. when shu't
sales on rctllzdtiOns on proiits uiih'i''ai''
the days rise to the mcfcat li"e'ay'''
while trivial losses were snutith "s s,,t,
gar. Lead. Chicago Gas. auu INC - Ia,
shares. Commission houses u""0 N
orally IN the early dcaiinbs, as u'' ,ser.
son. although 10 was ho.u .,.,ss "a sht-
Tho movement iis the Rranscrs Wts ~, ,nc
y mixed. ON moderate oc'.ai.'s.,,.,,,f
youthwcstcrns showed some hnt' ,nlcez-
Missouri Pacific gaining ia i.d rise
Ing OF the shorts in lopace1 "Eslf CEN
In that stock OF a point anu I" ." - ,nut
rrsI Electric exceptionally lch ,,.ith "A
from the initial price, put S'o'S a uoint
ret loss OF point Advance Vtoii.vlng
or more were scored III -, ,,re-
Vecuritles. RIO Grandc ana N's..i- iora
Serrcd y. central Paclrc, DcidW"ic -
hudson. Denver and no 1l9l,". IRA
fcrrcd and Mobile and ONO. iilh -, ~.
prices have been the rue iatn't LINN
ixccption FOR the week unoct tI. il,,,,i,,4
h1c 81 the approaching tariI Sc','-'.'o.'e
and that rare combination OF booD '''P'
md shortages abroad. go. ~.
Wheat for the week. on ucI"v uuV"o =. -
norts-aborlt 100000 bushels-nau uisuc
n adv.rce of NC and net rlse OF 80.
&,,b -, ,brce weeks before the crop
IS absolutely assured, thcIo pC.ms III H.
unfavorablc advices' stocks n"ee 49, 80
Continued the advance for the past tWo
,nc,,trs and displayed Irresistible
strength and predictions were hvt Wt.a
Ing that in 1sg7-'gS might be dupiic"'0u
The boom OF lS.u- II. .. hitch
Tho policy OF severe rctrenchmchl WYNN
MANY railroads underwent during the Iate
neri6d Of depression. which forCed SoHlc
roads into bankruptcy and scal19 NV
dend disbursements IN others W"uiu e". -
noseihlc an economical handllhg Oh l"o
vast tonnage expected with the coming
movement Of crops and staples WhlOh
would argue well for not receipts ana pio-
vide for moro liberal dividend pa{ IlDil,9.
Exchanges at the various clodIlnS
houses reflected a larger business, com
mercial failures are decreasing ana r.
sumption OF industrial animation losotn-
er with more optmistst trace views 80 en-,
erallv stimulated the market. ana usually
unsettling Influences were disregalded'
Sterling exchange demand bills were
quoted at 4S7i5 in some instances, but lhe
current rate was 4S1A. Tho gold export
Incident caused no alarm, the Treasury
heinr fortified with a large reserve al
ready and constant accessions belhs iuauo
by the receipt OF the gold from inc Nlon-
dixie district. and considerable Eolo, u ~, W.
announced would ultimately De receive"
from Australia I'm payment for american
wheat. The general speculation was very
broad rnd many long dormant Snait
Nipu with tho rfOfEaulLcu utllN' 0A'' NJ -
point Of animation. Purchases by lhslno
interests were IN evidence. and reports
OF some liQuidations were also current. 800
limo loans were in better request, with
short periods IN most demand. Tho com
mercial market held quiet, without essen
tial change. from tho current rate or ap4
ner cent. according 20 maturity. The fall
~ tho week Of 1ik for bar silver ana %
per cent. for Mexican dollars was IN
sympathy with the decline in London.
with tho exception OF Rubber preferred,
which lost 34 per cent for the week, the
industrials were strong in anticipation or
benefits from tho new tariff. Sugar made
a net gain for the week Of ia per cent.
Sugar transactions were on an enormous
scale NJ the opening this week. ana blocks
Of / 900 M to $500 shares were .uggled
about with unconcern by the traders
frantic 20 share I'm the extensive profits
they thought would accrue 20 the com
many by the compromise sugar schedule.
The common registered 14Gls. the highest
price ever attained by the specially. Tho
advance eliminated at this level and
recession followed 20 140. with subse-
ouent recovery TO Ia before the close 81
the week The preferred stock registered
"A net gain Of fi. Lead and Tobacco re-
fp0nded 10 prospective benefits 20 be de-
rived from the new tariff, Tobacco COM
mon rising a. preferred ~. while Lead
common and preferred was up 5'-. Nhl-
caCo Gas rose per cent. on tho SUPPOSE
ff0u that the REORGANIZATION Of the CONF
pauy was being perfected. purchases IN
the general list were confidently made.
and the activity OF commission houses m
dictated an increase IN public interest The
bears brought about reaction about the
miCdle Of the week on the assumption that
the enactment Of the tarlu bin would De
delayed. but subsequent assurances that
Il would be disposed Of this week caused
the best prices Of the week TO be recorded
in the last two days.
Expectations that an amicable agree
ment would be effected in the sott-coal
4 - aNHHH If d K
largely dependent upon this traffic. The
anthracite coal stocks were hrnly on
good trade conditions.
The bond market developed animation.
with notable improvements IN values OF
many issues. The speculation was very
broad. with purchases for investment ac-
count being discernable IN many IN
stances. The lower grade securities were
quite generally dealt i'm. ana were largely
taken for foreign accounts. The aggre-
gate sales were 1900 900. The principal
advances were: oregon Improvement
nrsts So: Peoples Gas OF t,mcago, consol
Gs. 4aa; Minnesota and ST LOUIS hrst IS,
Seaboard and Brooklyn Bridge FIRST trust
receipts 3is: Detroit Gas IS. as; Mill
wnukce. Lake Shore and western firsts.
Ashland division. and American Spirits.
Central Of Georgia second incomes ana
Union Pacific sinking fund IS 2ia. Wa
bash seconds. ST. Louis Southwestern
frsts. Chesapeake and Ohio 4i2s, and
Atchison. Colorado and Pacific iirsts. "a,
and Tennessee Coal nrSts, birmingham
division Rock Island IS. and Kansas and
Texas As . per cent.
The total sales Of stocks to-day were
2l1 .757 shares. including Atchison, 6 29S;
Chicago. Burlington and Quincy. p 5l3;
Louisville and Nashville. lego; Rock
Island 1888: Missouri Pacific. S,2JI. st
Paul. 1925: do. preferred. 5.197; Ameri-
can Tobacco. - S6S: General Electric
$3.50; Sugar 60 1J5.
MONEY AND EXCIIANGE-Mone on
call steady al per cent; prime mercan-
tile 304 per cont. Sterling exchange
steady. with actual business in bankers
bills al 4S7i. for demand and AT 1854 for
sixty DAYS: posted rates. 4S1diS7la and
SeSd4SSL: commercial bills. 4Sjia Bar
lnver sou. Mexican dollars 4Gh. state
bonds dull. railroad bonds strong. Gov
eminent bonds irregular.
WEEKLY Rank STATEMENT.-T'ho
weekly bank statement shows tho follow
ing changes: Reserve. increase, $l.@24 GO;
loans Increase. s.. 900 200. specie. increase.
Sls6 700: legal tenders. increase S3.492
600. deposits. increase. S9.25S500; circula-
zion. decrease SiOG. COO The banks now
hold Sl7. 1854 575 IN excess OF the require
ments OF the % per cent. rule.
..r1.v- rrrg,r,