Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-12-17
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT BusI-
NESS CENTRES OF THE WORLD.
Prices OF Honey. nonds, Stocks.
Grain, Tobacco, Cotton, Cattle,
Country Produce. Ec- Foreign
and Domestic.

NEW YORK, december 1.-THE hard
ening of the rate for call money has
taken the heart out OF speculation in Sc
curities. Cor the time being. The rate for
call money held firm at 3 per cent. to-
day, until near the close OF the stock
market, when there were transactions at
3 per cent, with offerings at / ga. Tho
Union Pacific Reorganization Committee
paid into the Sub-Treasury Ss,5OOOoO in
ton at the clearinghouse being 1851, 739.
L. is the general belief in banking cir
Giles that call money will not yield below
3 per cent. before the end OF the year,
ana may rule higher. The accumulation
of funds in anticipation of January dis
bursements of dividends and interest Will
make further demand on the money mar
ket. Bankers deprecate the idea that
there is any stringency OF money in pros
pect in view Of the fact that the govern
ment will redeem the currency SKIES TO
the amount Of over Sz9,tOo.000 on Decem-
Der 2ith before the next instalment Is
duo on the Union Pacific payment
Rates for time money for the shorter
periods were marked up to-day, as well
as those for call money, the quotation
being 3I-2d4 per cent. for sixty ana
ninety days. respectively. Although there
is still some movement of currency 10
points In the South and West, the stifen-
ing OF the money rate here was reflect
ed In a rise in the rate of domestic eX-
change on New York al interior points.
The rates for sterling exchange also re-
sponded sharply. the posted rates failing
10 and actual rates 3-S CT a cent. ms
was a very clear indication of the re-
sources at command both in the large
credits abroad and in the abundance or
money I'm the interior, deposits being re-
norted to be of unprecedented volume, and
prices of gilt-edge securities for invest
ment at the highest level known.
Both the deposits and the loans OF the
New York clearinghouse banks are at
hiehwater mark. the former aInouhtinE
on Saturday to $6l5'l6S'S0 ana the ia,'o-
20 Seo7 725 400 The loans include less
amount of time loans than usual anu
Novy York banks also have rather light
hoIdin,,. of commercial paper. The pro-
nortion OF money in cali loans Is the
LARGEST ON record. The calling of some OF
these loans has apparently put some
=
nience but there Is not yet apparent any
worry strenuous demand for money.
II &c the opinion OF Wall street that
.ho largo operators about completed the
taking of profits yesterday. and are ready
| Tor a decline There was some iurther
| evidence Of liquidation to-day, ana niue
| o,idence of support, outside the CoaieiS
| and ono or two OF the Specialties. me
nricas Of many stocks rose at one tiilie
| aho,,e Yesterdays closing level out an
,,aakened before the close. The extreme
| declines In a great many cases were ii
point or over. and i'm some cases 'he n'1
,osses exceed a point. Sugar was the
I.,rojrol centre of depression, and closes
| / 3-S lower. ..,,,o ono
rbe bond market was fairly active, ana
triAe easier in the late dealings
Total sales. 81, $4,000.
! Tr.t,od states new As are Is lower biu.
Tha totaI sales Of stocks to-day were
o2o co, shares. including Chicago Buriihs-
49,, ond Quincy. 16.1sl; Louisville ana
e1as,,,,uo & AGO: Manhattan. 2bO; MIS-
conf pacific. 12sS5; New Jersey central
o. 19o. Northern Pacific preferred, LO'-lo
Reading. 9.6f; Rock Island $40; 81, f ytn
oc 40. chicago Great western '''SV' re0'
nIe,s Gas, 1875; Sugar So'of'
MONEY AND EACHANDE'
aP. M-Money on call easy at IS-fa0
,er cent; last loan at per cent; CLOSING
offered at ga per cent; prime mercah-
tile paper, SG4 per cent. IL, oo.ro,
IS sterling exchange weak with a ae.us a.
o in bankers bills at &a7-SqAS-
Gus demand. and s4S1-2 for sixty days;
Lot rates. 4s3qS4S+a$LSS; commercial
bills. s4S2dstS2 IL o par silver
ga Mexican dollars, 40 IA ,o,a,
Covernment bonds steady. state DohuS
anu railroad bonds easier.