The times. [volume] (Richmond, Va.) 1890-1903, 1897-11-30
FINANCE AND COMMERCE
skH CLOSING QUOTATIONS OF
MONET.
OFFERING. seIes ut the Richmond To
bscco Exchange-internsl Revenue
Coliectlou.-Forcign Advances.

NEW YORK. Nov. 29.-There was an
Accumulation OF commission-house orders
In the market 40 the opening this morn
Inc which had come In over Sunday as
rssu,, of tle strength displayed by the
.sack make, on Saturday. The quota
tlons for Americans were also run up on
,bc london Exchange before the opening
hc,o As a consequence. the market
oncr,d with quite an animated buying
,r,vcmcnf and advance OF a marked frac-,
,,on along the line. But the buyers OF
FRIDAY and Saturday Immediately SET
about realizing their profits. and the al
,.oee came 10 an untmely end The mo
me ofitrca by the selling was thc VIII
holding OF the decision on the Ntpi "s -.
maximum Iryight-ratc case by IN" Su-
-. ttourt Iaere were occasional isa-
-. aurug the day, sugar mouhthe
egIOuEly upward AFTER peIihlii'"is
cline 10 the extent OF almost ihlce pon's.
There WAS very heavy speculation III shis
.t.,k during the DAY. sd4es amounting 10
ouc-thlrd OI All sales, OF over $1,000
shares and SIS price cioseo unSi ,''.'is's
from saturday. mere was So"ic 10 no
Tor the London account on the uccihe ~
cover contracts made IN London al the
carly high level. and TINS also helped ~
steady the market The early weakness
SOON overlook II, net declines reachins ~
near "a point IN many leading STOCKS, ana
exceeding that In special cases. As a re-
suit Of the lively realizing movement ana
the active speculation in sugar, sales OF
stocks ran mp TO near 10000 shares pc
fore noon. "A ngurc IN excess OF any tVt''
days trading for several weeks. Inc con-
tiuued strength OF the sterling eAchanBc
market attracts much attentCn, IN We"
OF the status of he inernaional balances.
Posted rates were advanced rs, ioi .n ~
nay Tor DOtn long ana snort steihhb' i"'''
Is a feeling that the investment buying
OF long exchange. the leaving on iuiiu S
due on balance IN interest aDrodn' anu
the arrivals Of gold at san Francisco from
Australian are not sufficient comDlhcu 70
account for the strength or exchange, anu
that there Is much heavier sIIiinf % i,'s
class American securities by European
holders for transfer TO tins slde OF ths
water than appears. The hlgh ieNcl "
prices for this grade or securities so'S W
confirm this view. The very nedNy III
crease i'm tho loans OF clearing mouse
banks. amounting TO owe rSl4'Vo"V, as
shown I'm Saturdays bank statement ~
also being closely scrutlnized. Inc eA lp.,e6
nation that the increase was connected
with the Union Pacific committee pay
ment to the Government does not entlreIy
cover the grounds, as the expansion OF
loans previous 10 NoNehDe. ~. was ma
ready referred 10 TO account Tor mat ana
was attributed to u. Saturday, state
ment seems TO indicate that the payment
10 the Government. which was lelt on
deposit IN the banks, had already been
Immediately replaced in loans. As the
Union Pacific Reorganization COMMITTEE
was supposed 20 have already secured all
needed funds before last Mondays pay
ment TO the Government, II Is difficult 10
account for this large absorption OF
money. i'm view of the known condition
Of the money market demand for money
being very duh In all departments
The bond market was quite active ana
broad. and prices were higher. ia almost
all cases. Total sales. 81 100000. United
states old 4s. registered. are higher
hid the SIS a higher bid. and the new
as D, higher bid. There were sales OF the
new As, coupon. at 1881, the highest on
record. 900 80
The total sales Of stocks were 322 100
shares. including Chicago. burlington ana
Quincy 2f30J: Louisville and NASHVILLE,
g14a. Manhattan Elevated. 2I1IO. Mis-
souri, Pacific 6.2TO: New Jersey Central.
e. $50. Northern Pacific preferred. lS,2lo
Reading 600 Rock Island 9.%U St
Paul p 900: Peoples Gas. 1l,4Od; Sugar
10000.
MONEY AND EXCHANGE on
call easy at 1ikM2 per cent; last loan. IL
az per cent: closed offered al per cent.
prime mercantile paper. 3G3l2 per cent.
Sterling exchange firm, with actual -busi-
ness In bankers bills at 4SI'sdlS6 for de-
mand an6 4S3D 4S3i4 for sixty days. posted
rates. 4S4N4S7 commercial bills. 4S2l31r
iSga, Silver certificates. 59GJ9Ia: bar sil-
YER 80. Mexican dollars. 46ls. Govern
meuf bonds strong. State bonds dull. rail-