The times. [volume] (Richmond, Va.) 1890-1903, 1897-05-11
FINANCE AND COMMERCE
TaB CLOSING QUOTATIONS OF
MONEY.
Offerings and sales at the Richmond To-
h.coo fxohangc--InternalR Revenue
CoIieotions-foreign Advances

NEW YORK, May 10.-The market for
s,o,ks to-day showed signs of decided
strength throughout. though the dealings
continued dun. and prices advanced very
..nfiously Ina spite OF improved prices for
Americans in London This was supple
neutcd by some small buying Tor London
account in this market later in the day.
,rbe excellent crop reports from the West
and improved earnings, both those report
ed and those rumored for the immediate
futurc gave an impetus to the buying or
railroad properties In that region. The
Changers and Northern Pacinc received
the most noticeable benefit from this, st.
Paul and Burlington especially in largely
dealt IN. Omaha Jagged in the improve
mont and showed some continuance OF
hcavincss growing out OF disappointment
that no further dividend viii be declared
this year. In spite OF the strength or
prices the market continued narrow, and
professionals showed no signs whatever
OF outside interest. The exchange situa-
tion and the resulting accompanying gold
movement continue 10 mystify dealers IN
stocks. and are an element in curtaliins
speculation Further shipments OF gold
are confidently predicted this week, Win
demand sterling exchange ranging from
S4S1A nS4.S1i9 AS an evidence that the
gold shipments are certainly the result
OF the oblitcration OF the tremendous
trade balance in our favor heretofore
established during the fiscal year. the
large figures OF last weeks imports AT
New York, exceeding $4,000. 600 are point
ed to as conclusive by those who seek 10
deprecate the idea that any specal 1e-
mand for gold abroad is responsible LOT
the Outgo. But exports or Rold at thc
prevailing rates Of exchange leave uneA
planned tho fact that on the SatuIuag
previous TO the five gold shipment ueIhahu
sterling ruled at 81. SSff4 $50, amer having
been at 81 ssh and upwards on the pre-
Niaus Monday and 81 e'HG4etA the Hteh
preceding that, without INDUCING shlprf
ments OF gold. In fact, the eNchdhse
house had determined that there was 10
adequate profit for them In gold snip,
ments under a rate Of 1854 Tor deinahu
sterling. The fact remain tnat iurtheI
shipments are looked for, ana that lact
has "A sentimental restraint on the buying
OF stocks The bears on western Union
to-day added 10 their stock OF ammunl-
ton the Supreme Court decision aftlrnihS
the validity. OF the BerlneT telephone put
ent. which. IL is alleged. tVIeslad Cows, oP---
,oeition from the Bell Telephone Com
pany i'm the telegraph field. The stock led
The list In number OF shares sold nuctuat-
ing irregularly. and closed unchanged.
Sugar was weak at times, but recovered
the decline. Consolidated Gas iell OH 8
on profit taking but recovered. The Coal
ers showed sharp fractional gains. Cow
ering By shorts forced Tobacco up ana
the script u. and the same cause yielded
Leather pfd. a net point OF gain. Inc
market closed quiet out hiIhs Inc 49,
sale OF stocks for the day amounted 10
l4s.2sl shares. including American S,, To-
bacco Company. 300; American Sugar
REFINERY. 10 200: Burlington and Quincy
10. 400: Chicago Gas. $500; Northern Pa Pa
ciac pfd.. 6.4OO Reading. 10000; St Paul
14.1O0; Union Pacific. 6.sO0; Western Union
Telegraph, 1850.
Trading in bonds was attended by con-
siderable inimation. but prices of Leading
issues RANGED narrowly. Some decided
changes were noted either way in the
inactive low grade mortgages. TIE ag-
gregate sales were sl,sl2OOO- Govern
ments were active. with the demand Tor
the new as. coupon. advancing the price
TO 1913 on transactions. with l227s bid o., on
the last call. The total sales were SoIVV'
MONEY AND EXCHANGE: Money on
call easy at hdh per cent; last loan at
u per cent: closed hQh per cent: prime
mercantile paper. 3ika4 per cent Sterling ,g
exchange firm. with actual business IN
BANKERS bin at 4s7h@4s7i5 for demand
and at 4s6lla4s6h for sixty days; posted
rates. 4S7Q4s7i5 and 4SSQ4S9; commercial
hills 4S5I,. Silver certificates. GO44VytS;
mar silver. COZ Mexican dollars 4l!t
a. 1g