Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-06-23
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT BUsI-
NESS CENTRES OF THE WORLD.
Prices Of Honey, Bonds, Stocks
Grain, Tobacco, Cotton, Cattle.
Country Produce, &C, Foreign
and Domestic.

NEW YORK, June 22-The stock mar
ket to-day again gave n demonstration
of its astonishing capacity for sustained
increase Of prices. with only temporary
pauses and trivial reactions. The ma
turing plan OF the committee OF directors
OF the Chicago and Northwestern for re-
funding the bonds OF the company, so
as to effect n saving. which may be APP
piled TO the stock, has become the CEN
trail object of interest in the market.
The upward tendency OF prices which
radiated from this stock ultimately per-
meated the whole market. carrying even
the Industrial stocks. some OF which had
sagged during the morning, to q higher
plane. Northwestern's extreme rise was
31-f. Omaha, as being nearest in rela-
tion to Northwestern, followed its course
with closest sympathy, but the Wander
blt stocks were all strong. in sympathy.
Lake Shore made n new record price,
jumping ala to i75. This was doubtless
on exact information of the benefits to
accrue TO the stock from the refund!ng
of the bonds the time for the exchange
of old bonds for new 31-2's expiring to-
morrow. The New York. Chicago, and
st. Louis stocks. on account OF the close
relation of traffic interests with Lake
Shore, also showed marked advances.
The first preferred was bid at Il. against
60 bid yesterday. The common stock
gained IL and the second preferred 2.
Lackawanna gained 3 1-2 on definite an
nouncement that the regular quarterly
dividend will be declared.
a striking feature of the markets
course was the comparatively small
transactions on which prices ~ose. This
was, of course, more markedly true OF
the high-priced investment stocks. a
very small supply OF which is offering In
the market at any time. quickened
demand naturally marks up the price very
sharply. But the volume of transactions
as a whole, was not large. and the deal
ings were lacking in animation all day
Sugar and Chicago Gas, which usually
occupy so large a share OF attention. and
some other specialties, were rather heavy
and neglected all day, though they show
ed a recovering tendency before the close.
The southwestern railroads were particu-
larry strong, on account of the good out
look for business in that section. Con-
tlnued good crop reports sustained the
markets, particularly the Changers.
The announcement of $4,000 shipment
of gold for Thursdays steamer, and the
probability that more will go. did not
renew Yesterdays rather Fictitious alarm
on the subject. The weeks exports OF
general merchandise from New York,
amounting TO S79l9.6S0. a decrease of's2,-
rs. 12i from last week. indicates one source
of the strength in exchange.
The total sales of stocks to-day were
100. i5S shares. including American Sugar
Refinery. 1890; Burlington and Quincy
Is 200: Chicago. 1l,4oO; Chesapeake and
Ohio, $500; Northwestern, 1880; Omaha
900: Reading 1890: st. Paul. $500
Western Union Telegraph 600.
Trade i'm railway mortgages was In
considerable volume, and some striking
gains were made in a few issues. In
Guiding Lehigh and Wilkesbarre u.s.
which improved 21-2 per cent the gene
raj tone of the market was good ahu
free purchases were noted OF the prohi-
nent international mortgages for Tor
eian account The aggregate sales were
q 500 900. Governments were more ac'
tive but without essential chahse III
values. The sales were $1,000
MONEY AND EXCHANGE.
Money on call easy at 1@1 1-2; last
loan at III. and closing offered at IL
nrIr,e mercantile paper. 3d4 per cent.
Sterling exchange firm, with ac,ua
business in bankers bills at AsI La
sl71-2 for demand, and S4Ss l-sasaSS H. d;
for sixty days; posted rates, si.S6 l-2q
sts71-2 and $i.ss@S4.SS IL; commercial
bills, $iS IL. Ill
SILVER certificates co 1-Sd6o 5-S; bar Sill
yer co Is; Mexican dollars, Al 3-s
Government bonds firm; STATE Do"'S
dull: railroad bonds firm.