The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-09-21
DULL AND / NEGLECTED.
The Marked Advances We're Confined 10
!. aFsv-SpaclaI Instances. y.
BEARS FELL uPoH.ASD RilDE6j MARKET
The Pressure 10 seiI ana the, Result
ing yDoci,i,cs Wore Especially
Hohvy Ia tho r Grangefs :: Roca
Island Was tho -Eeatilra or tho
MARKET During the EARLY Period.

new York, September: 2o;-The stock
market was dull and comparattyelyn neg
iected during the greater part of the
gay and the marked advances, yyeIe con-
iihed 10 a. few special Instances up to
the ilnai half hour. The bears, encour-
aged ny the lack OF activity in the trad
ing ana the rise In the money rate. then
fell upon the market ana ralded It TO
such good effect that few active stocks
escaped with net decline less than a
point and In few Instances much
larger losses were shown as q result OF
the days trading. The pressure to sell
ana the reulting declines were especially
heavy In the Changers. Burlington.
winch had been pushed in the morning
70 new high record at 102A, fell to par
In tine closing transaction and Chicago
Great Western, which had shown great
animation and had iisen to 20h, fell IN.
omaha. which has been conspicuously
strong In recent markets, fell 1t, and its
parent stock, Northwestern, droppcd off
IN. Rock Island was the feature of the
market during the early period Of the
day. and had advanced two points. The
mai liquidation left 1t still with frac-
tlonal net gain. The local gas stocks,
whose sensational advances had sus-
tanned the market an recent occasions,
were prominent In the decline, Conso:id-
ated Gas dropping six points. and B. ook-
lyn Union four. The Vanderbilts and
trunk lines, the coalers and the leading
industrlals and specialtles all shared in
the weakness, and nearly all showed de-
cilnes OF point and upward. Louisville,
which has shown weakness recently on
account Of the yellow fever scare, was
an exception. and closed with a net gain
of small fraction. Baltimore and Ohio
showed marked strength early, rising
two points, and closing with net gain
of1A. Western Union and Wabash pre-
ferred, which made sharp gains early in
the day, fell heavily to below Saturdays
close. The course Of the London stock
market caused more or less depression
here at the opening. and again when
ILondon's closing quotations wee re-
ceived. showing some heavy declines
from their opening prices. The Changers
We're somewhat sensitive also to reports
of bad weather for crops in the West.
But the decisive influence in the de-
cline was the sudden ntiffenlnS of the
rates for call money to per cent. Quite
a large amount had been offering all
day at as low as 9 per cent, but In the
final hour money lenders demanded per
cent. There continued large demand,
and figures ranged from 3 to per cent,
loans being made at the high figure up
to the last half hour.
The closing saw a decline to 3 per cent.
The stiffening in the money rate came
too late in" the day to affect the exchange
market. Rates for sterling exchange
were somewhat harder during the day.
though the market was very inactive.
The posted rate for sixty days bills was
advanced half q cent TO s4S3k. Actual
rates for demand bills were quoted nc.
| higher, and for sixty days bills nc.
| higher. Interest centres in the fact
which the hardening Of money rates and
| the calling of loans will have on the
exchange market and the import move
mcnt of gold.
Railway bonds were not so actively
dealt in to-day, sales amounting 10
So 100000. Prices were about steady
United States coupon Az sold at ia; do
regular at 1llA, and the 5s coupon al
114Si.