Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-11-07
MARKET QUOTATIONS.
,rpoars FROM AL GREAT nusi'
,rs, CENTRES oS THE woRLD.
,.,e.. OF Honey. nends, Stocks.
Grain. Tehacco, Cotton Cattle,
ossutry Produce, 40, rereixs
and Domestic.

- rr3cps AT the opening to-day. In View
- ~ heavy and rather excessive de-
.a,es OF yesterday. and OF the active
ENG movement In progress AT The
-, IN the market yesterday. There had
-, a recovery In the price OF Ameri-
- on the London Exchange before the
.,,re The opening there showed de-
W. W. 20 the New York parity, but the
- - was sharply above the New York
-, NV the time the market opened here.
nj. encouraged purchases here. and
-'..ober OF stocks opened over a point
.,,,nsr than last night. The London mar
-. Cor Americans has grown 70 narrow.
- The floating supply Of stocks there Is
email. that prices there are easily
80, 10 manipulation for effect on the
-.,,g trade here There seemed ground
~ .,e,ielon that this mornings rise in
-. was due TO some such effort from
- ,i5o AT all events. the rise which
,hys stimulated here led 10 quick
,.S,,e OF profits. and so some further
,,.'.. Istion OF long accounts. carrying
80 below last nights level. They
s.r5e,ed again. but eased off finally,
Zinc fractional net gains, In the ma
jorty Of cases.
hun BY the bank statement probably
,,5rcea some selling, though the change
,-ss due in greater part to the heavy
,.crs,se In deposits. and the consequent
..tsrr Of the legal reserve limits. than
- ,be actual decrease in cash. The large
80, In loans in face of the heavy
.-..,,iofive accounts that have been closed
~, On the stock Exchange during the
- probably, has to do with the Union
Pacific sale.
nv. week has been a total loss of con-
ss.rce on the part Of the bull operators,
10 have been looking hopefully for the
,,,-r IN the tide OF reaction on the Stock
v~cb,r,e on Friday there was heavy
,,,,,,sai on OF long holdings, and a sharp
decline IN prices. and, so far as appear
orces 20. 10 buying support for stocks
a, any concession. however violent. The
os.7s.ble motive was fear of war with
s,slr on account OF Cuba. which was In
,epsi6ed by the call from the Chamber
~ Commerce for increased forces TO man
o,t coast defences, and by the nature of
me pptlic utterances Of the Unitec.States
=, Minister TO Spain. The depression took
IN rather an artificial and feverish tone
h.fors the day Was over, and absurdly
,a,satlonal rumors were put in circula-
lion TO keep prices down, while shorts
covered.
These incidents. coupled with to-day's
recovery. are significant technical indi-
c,tlops Of the elimination OF a marked
movement of heavy buying, by the cir
q IL GhlTn rise
IN rrices. ana the stirring up of dead
stocks. are the technical concomitants OF
the elimination Of sustained rise. Inc
declines for the week, however, reached
"a points IN Sugar, 5-S in New Jersey
central. and 3 points or over all through
the active list of railroad and Industrial
stocks. Sugars special weakness mas
|been due 10 the serious Illness OF the
president OF the company.
The decline of prices has continued now
|pmctically without interruption OF any
lmportance since the second week IN
|september. when the elimination OF the
rise was reached. On September loth
the average price OF twenty active rail-
roaa stocks was about $66S3 share, and
lsst night the average price of the same
,fock Vas 81 90 On September lVth the
,vsrage urice OF twelve leading lndustrlal
ltOcks was so0.o3 a snare, last Ign,
Tas Ssh 1t is an invariable rule that
m inward course of prices in the market
does nor terminate until il has apparently
exceeded itself, and reaction is a GER
|iaintv corroborated by abundant history,
wen in the face OF continued faVoraDie
|,ordltions. The rise, which eliminated
n the second week OF September can pe
|iraced 10 it's source In the latter part OF
Inv There had been improvement be-
iore that time, but the final passage Oh
/ ne tariff bill was accepted as clearing the
ndustriai situation and giving settled
Conditions TO work on. There was some
Yards on profit-taking. but for the most
bart the course was steadily upward
Tendency from that time to the cuimlna-
Hon. The growth OF the conVlctloli VI
la bountiful harvest and of an urgent de-
|nand Tor our products from ABROAD were
|fefected in tho bull market OF that
A Comparison of prices Of leading stocks
|ruling today with those ruling on July
|bh last shows interesting results. Inc
railroad stocks was S57.2S share, COM
barred with $3.50 last night for the same
nocks. The price for twelve Industrial
|uocks on July 24th was $H% share,
compared with $5.73 last night
Except for the Changers, only three
|ltocks i'm the RAILROAD list vary as much
las points, as between the two dates
|named The exceptions are Cleveland,
|chlcago. Cincinnati and St. Louis, Mis-
|souri Pacific, and Manhattan. The
Changers are from to 10 points tn, hl tan,ls
on September 1st show variation OF as
much as 8 points as between the two
dates named. Some OF the stocks-no-
iably. the Coalers. Sugar; Leather pre-,
,erred. Pacific Mail. and Kansas and
TEXAS ureferred, have gone little lower
,han thew we're on July Path. Generally
speaPiTg Il may be said that prices
have about retraced their course 10 Where
they were before the late Increase. In
trade and earnings during the period
Bonds have been less affected by de-
pression during the week than stocks,
but prices have shown sympathetic de-
cllnes.
The total sales Of stocks to-day were
rs $50 shares. including Burlington, 1907;
louisville and Nashville. $3.50; Missouri
Pacific. 1882; New York Central, 1926;
Northern Pacific preferred. 1878; Read
ing, ig7O: Rock Island. $50; ST. Paul,
n83; Union Pacific, $3.50; Chicago, Gas;
6he; Sugar. 1860: Tennessee Coal ana
ron $500: Chicago Great Western. 6.4oi.
MONEY AND EXCHANGE.
Money on call nominally 1l-2q2 per
cent: prime mercantile paper. 3 3-ili IL:
,etuai BUSINESS in bankers bills, at siSS S-s
fAS 10 for demand and S4s2 l-2!!$tS2 81
Tor sixty DAYS: posted rates, M.3 1-2D
h&l -. commercial bills, N&.
Bar silver. 81 l-2; Mexican dollars. "A IL.
slate bonds dull. Railroad bonds firm.
Government bonds steady.
MOVEMENT OF SPECIE.
The exports OF specie from New York
Tor the week were sl2,1S0 in gold and w.
n In silver.
The imports were; Gold. N9.9Ol; silver
r 500: dry-Eoods and general smerchan-
. d.s $s.4SSzl3.
FOREIGN STOCK MARKETS.
Tho Evening Posts London financial
. cablegrain says: The stock markets were
1le to-diy in view Of the settlement In