The times. [volume] (Richmond, Va.) 1890-1903, 1897-11-19
FINANCE AND COMMERCE
rms CLOSING QUOTATIONS OF
MONEI.
Offerings and sales nj the hich"o"" 10
bacco Exchspge-internal revenue
col,ee,lon.-ForeicnA Advances.

Ne,v work. Nov. lS.--The Evening
posf.s london financial cablegram says:
rho stock markets remain stagnant ana
'eaturoicss Americans were better aiter
, neriod OF dizziness. but thffe were no
rreat activity. Details OF the gold move
sscnt for mo week show &!0,OoO from the
~.ne ana Tho sale Of 10000 in eagles Tor
no continent The Paris Bourse and Der
In market duil.
Tho volume OF transactions on the Stock
Exchange to-day was even smaller ana
shanrce i'm prices even less than yestci-
sav Prices Of securities have apparently
.omo 10 a condition Of equilibrium, anu
spcculation IS for the time being dea9.
Even the small changes In prices whlCh
occurred to-day. and which were neuly
MI gains were due 10 the manpuldtlNc
operations with which the room itdutiS
amused themselves. As these operations
Involve the matching Of the buying oroer
with n spOndng selling Qrdcr ioI
nc purpose OF attracting outside buylns
Or selling. the net result IS very close 20
nothing. Sugar displayed some specula-
1.-Two strength on account or buylnG at
,ributed 10 Washington account. and CON
yoldated Gas flashed up and down IN us
customary mctcOric style, jumping NJ oht
time six points. and reacung n ne
soalers were weak on rumorS that lheIc
we're obstaClea iu the way OF the pro-
posed agreement TO restrict the output.
Although speculative buying was 50 re-
stricted there continued 10 be evident
some good buving Of the very high-fTdde
bonds whose security is Of the best.
though with low return OF interest. rms
class Of buying IS "a natural outcome OF
the easy condition or the money Market
and the doubtful outlook Tor speculation
Bond houses report that there are quite
large offerings Of these bonds for foreign
account. the foreign holders being tempt
ed by the high range or prices Tor thtul
existing I'm this market. II Is quite posi-
bic this class Of selling for foreign &C
count has much 10 do with keeping up the
rate Of exchange In face OF the conditions
that would tend TO weaken II, ana III
spite Of the tendency toward ease IN the
rates for money on London. The traue
balance in our favor for three months
including October, Is nearly S16o,WopD.
London has been a buyer in TINS marker
Of low priced speculative securities during
the last few weeks as II was to-day.
Foreign capital Is known 10 have quite
large interest In the Union Pacific re
organization syndicate, and payments
from abroad I'm proportion are due i'm TINS
market The operation Of borrowing
money on sterling exchange. which tends
10 keep up the rate OF exchange. mas
apparently ceased. The continued main
lenance Of the rate OF exchange above the
gold import point under these circum-
stances Is not easy 10 understand but
sales for foreign account OF hlgh-grade
investment bonds would aid In explain
4 report from Chicago that there is talk
there OF "a reduction is i'm interest rates
ON bank balances TO ~ I2per cent, shows
that the abundance of money extends 10
the interior. The immense first payment
81 nearly $4,000 600 by the Union Pacific
Company has made no impression what
ever on the local money market. The
days returns Of railroad earnings all con
tinucd markedly favorable, notably in the
case Of southwestern and far western rail-
roads. and OF the soft coal roads. Re
ports from the West indicate that the
large earnings are due I'm no small part
10 che west-bound movement of merchan-
disc showing the activity Of general bust
ness.
Bonds were more active I'm proportion
than stocks Improvement was shown in
the high-grade issues Total sales. 81 DO
Oo0. United states 5's. registered. declined
e. bid.
The total sales Of stocks were ll1O0
shares. including Chicago. Burlington and
Quincy 9I1j, Rock Island, 1880 -.
Paul. 5000. Peoples Gas. 1889 COnsoh-
dated Gas, G,Gjo' Sugar 39,iJO
MONEY AND NEUTRALITY-SUSPICIOUS. on
rall steady az 1l402 per cent; last loan
az per cent. and closed offered at 1id2
per cent. prime mercantile paper, @ku
o. per cent. Sterling exchange steady.
With actual business in bankers bills at
fS5i, A4s5is for demand. and at 1923. for
siNtv DAYS. posted rates. 4S}4H4SGi2. com.
mercial bills is2. Silver certificates. 5Sn
gi3. bar silver J77s. Mexican dollars, 45l2.
Government bonds firm. State bonds dull;
railroad bonds firm.