Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-07-25
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT BUsI.
NESS CENTRES OF THE WORLD.
rrices OF Money, bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce, &C.. Foreign
and Domestic.

/
cereal and cotton crops continue promis-
ing, lent the stock market further
strength to-day except IN the final half
hour, when short sales On realization OF
profits diminished the days rise TO the
merest fraction, while trivial losses were
suffered by Sugar, Lead, Chicago Gas,
and the Reading Shares. Commission
houses bought literally In the early deal
ings. as did London. although 1t was
holiday there. The movement In the
Changers was slightly mixed. On mode
rate dealings the Southwesterns showed
some Improvement, Missouri gaining "a.
The squeezing OF the shorts in Tobacco
caused rise in that stock OF a point
and half.
General Electric exceptionally fell per
cent. from the initial price, but closed
with net loss OF a point. Advances OF
point or more were scored in the fol-
lowing securities: Rio Grande and West
ern preferred. 2; Central Pacific, Della
ware and Hudson. Denver and Rio
Grande preferred, and Mobile and Ohio.
High-record prices have been the rule
rather than the exception for the week
under the stimulus of the approaching
tariff settlement, and the rare combina-
ton Of good crops and shortages abroad.
Wheat for the week, on tremendous eX-
ports. about 100000 bushels, made an
advance Of IA and net rise Of rs. With
but three weeks before the crop is absO-
lutely assured, there being no unfa-
vorable advices, stocks naturally con-
tinued the advance Of the past two
months, and displayed irresistible
strength, and predictions were not want
ing that in 1S1-'9S there might be dupll-
Gated the boom Of 1S0-'S1.
The policy of severe retrenchment
which many railroads underwent during
the late period Of depression, which
forced some roads into bankruptcy and
scaled dividend disbursements in Others
would make possible an economical hand
ling Of the vast tonnage expected with
the coming movement Of crops and sta
pies, which would argue well for net re-
ceipts and provide for more liberal diyi-
dend payments.
Exchanges at the various clearing
houses reflected a larger business, COM
mercial failures are decreasing, and the
resumption Of Industrial animation. to-
gether with more optimistic trade views
generally, stimulated the market, and
usually unsettling influences were dis
regarded.
Sterling exchange demand bills were
quoted at Sl87,t-2 in some instances. but
the current rate was $i.S Ia. The gold
export incident caused no alarm, the
treasury being fortified with a large re-
serve already, and constant accessions
being made by the receipt Of gold from
the Kiondike district. and considerable
gold, IT was announced, would ultimately
be received from Australia I'm payment
for American wheat. The general specu-
lation was very broad, and many long
dormant shares WED with the recognized
active stocks i'm point of animation Pur-
chases by inside interests were in evil
dence, and reports of some liqudations
were also current
Time loans were in better request, with
short periods In most demand. The COM
mercal market held quiet. without es-
sential change from the current rate Of
304 per cent, according TO maturity.
The fall for the week Of Is in bar silver
and 5-S per cent. I'm Mexican dollars was
IN sympathy with the decline In London.
With the exception Of Rubber preferred,
which lost "a per cent. for the week,
the Industrals were strong. in anticlpa-
ton of benefits from the new tariff Sugar
made a net gain for the week Of IL IA
per cent. Sugar transactions were on an
enormous scale at the opening this week.
ana DlOchS OF Il l,NjD up 10 ofoJO Shares
were 1uggled about with upconcern
by the traders frantic to share i'm the
extensive profits they thought would ac-
crue to the company by the compromise
sugar schedule. The common registered
14G IA, the highest price ever attained |
by the speciality. The advance culmi-
mated at this level, and recession fol- |
lowed TO 40. with a subsequent recovery !
to IA, before the close Of the week. The /
preferred stock registered net gain Of /
Az.
Lead and Tobacco responded to pros |
pective benefits TO be derived from the |
new tariff, Tobacco common rising ii,
the preferred 21-2. while Lead common
and preferred was up 3 IS Chicago Gas
rose per cent. on the suppositon that
the reorganization Of the company was
being perfected.
Purchases In the general list were con-
hdently made, and the activity of COM
mission houses indicated an increase in
public interest. The bears brought about
a reaction about the middle OF the week
on the assumption that the enactment
of the tariff bill would be 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 soft-coal
difficulty strengthened the shares of roads
largely dependent upon this traffic. The
Anthracite Coal stocks were firm on good
trade conditions.
The bond market developed animation,
with notable improvements in the value
of many issues. The speculation was
very broad. with purchases for invest
ment account dscernible in many in
- r., L
quite generally dealt in. and were large
ly taken for foreign account The ag-
gregate sales were Sl57OOOOO. The prin-
cipal advances were: oregon Improve
ment drsts 10: Peoples Gas, of Chi
cago, consOl 6s, 43-i; Minnesota and St.
Louis irsts, 4: Seaboard and Brooklyn
Bridge FIRST trust receipts. IL; Detroit
Gas. SIS, AIS; Milwaukee. Lake Shore
and Western drsts Ashland Division, and
American Spirits, Central OF Georgia,
second incomes, and Union Pacific sink
ing fund, SIS, 2 IL; Wabash seconds. st.
Louis Southwestern firsts. Chesapeake
and Ohio 412s and Atchison. Colorado
and Pacific frsts, PA. and Tennessee
Coal drsts, Birmingham Division, Rock
Island, SIS, and Kansas and Texas As,
2 per cent.
The total sales Of stocks to-day were
211 .757 shares. including Atchison, S.2eS:
Chicago, Burlington and Quincy, 23,5lS;
Louisville and Nashville l5,62O; Rock Is
land, 1885, Missouri Pacific. $751; St
Paul. 16. 725; do. preferred 5,797; American
Tobacco. o. S6S; General Electric, 6S65;
Sugar. 20,755.
MONEY AND EXCHANGE.
Noon-Money on call steady at 1 per
cent; prime mercantile paper 3q4 per .
cent.
Sterling exchange steady, with actual
business in bankers bills at $i.a IA for ,
,.,,,ord ond 81 Sf 4 for sixty DAYS: pOSt- | ,