The times. [volume] (Richmond, Va.) 1890-1903, 1897-08-19
FINANCE AND COMMERCE
THE CLOSING QUOTATIONS or
MONEY
Offerings and Sales NJ the Richmond Toe
bacco Exchange nterna! Revenue
Collections Foreign Advances.

NEW YORK. August lS-Thc greater
part Of the days proceedings on The Dooi
OF the stock Exchange consisted or
kind Of fencing for position or 10 oe-
Volop the position OF the opposing eie-
mcnjs Bulls were not IN an aggressive
mood. and there was not az any tlmt
during the day an active buying demanu,
The bulls were In a waiting mood. anu
there was not az any time during VIZ
invitation 90 an attack thus afforded W.
accepted by the bears, and their choi'
20 prccipitatc n decline was un"edllt.'
They succeeded in Keeping prices Sht"N
" below tho level Of last night CLOS
during n large part OF the day, altct "
higher opening. but a hardening tn
doncy just before the close brought VIC
market 90 a level above last night ciosc.
Tho heavincss was caused ~ paarrI oE md
attack OF crop damage I'm the west, anu
was I'm larger part due TO DOUBT rs 10
whether the rise ia prices had not ieaSn-
ed a sufficiently high level 20 larry uls-
count the conditions. present ana piys-
pectivc. which brought II through inc
short selling by the bears. ana was sup
plcmcutcd by some prott-takng saIISs'
but the volume OF stopalosS oIueIs, vto
lodged was not large. The aim or tne
bears always Is 10 reach these stop-loss
orders. and thus preclpitatc hcaVy scu
ing movement but they have 10 COUNT
also on tho buttrcss effect OF conditional
orders 10 buv mt lower level! 4 bear
raid to be successful. must dislodEe STOP
loss orders in such quantity that they
cannot be absorbed by these buying or
dcrs The bears encountered tnis 'p-
sfaclo az q very early stage OF the de-
cline to-day Some adverse erect We
produced upon prices by the haruehihs
ia the rates Of sterling cNchanse' ana
fherc has been some disposition 10 as
count the effect Of early impOrtatiOns or
gold I'm the buying Of stocks Inc course
az exchange to-day waa IN Response 20
tho hardening OF the discount iatc ~
london and "a belief that the Bank OF
Tnrlands minimum rate OF discount
would be raised to-day. Sugar was ac-
lively traded In. and the price moVeu
quite freely over n range OF more 'l'u'
2 points and It's late strength was a inc
tor I'm rallying the market. The Sehsa-
flonai lump in the wheat market aiSo
had n sustaining influence IN the alo
dealings. The southwestern railway STOCKS
were AN notably firm and strong IN inc
late dealings Missouri Pacific leading
or account Of an increase Of 5000 shown
hy tho earnings Of the second week III
August ST. Paul was also irmer IMAM
fho nverage list on its second week
earnings Tho net changes i'm prices are
small i'm most active stocks. There was a
falling off Of over 100000 shares in the
volume Of trading to-day as compared
with Yesterdays, and the TRANSACTIONS IN
bonds were also much diminished.
The total sales Of stocks to-day were
395 COS shares. including Atchison pre-
ferred. Is 40: Chesapeake and ohio CO.;
Chicago Burlington and Quincy. 81 $50,
Pacific. 1915: Northern Pacific. 300: do.
preferred. 12.462, Reading. 6,l2O; Rock
Island S406, St Paul, 81 800; Texas ana
Pacific. 7O2O: Union Pacific, y. and c.
e.391: American Tobacco, lO4SO; Chicago
Gas Z 40: Sugar, 3O245: Tennessee Coal
and Iron. u 2O3 Western Union, CTS;
Chicago Great Western. "a 800.
The bond market displayed very firm
tone throughout. and did not participate
in tho fcverishness noted i'm the stock
market. Business was rather light, ana
gains generally trivial. The aggregate
sales were S147O,oOO
Governments were well held, with deal
ings confined TO $1,000.
MONEY AND EXCHANGE.-Mone on
call easy az 1Nii2 per cent. last loan AZ
~ per cent. and closed offered at lnlh
per cent: prime mercantile paper, 3l2n
Az per cent Sterling exchange firmer.
with actual business in bankers bills at
4sJ5s04s5&i for demand and at 4s3%lt4s$l5
FOR sixty DAYS; posted rates. 4S4Rdlso
and 4s5i4a4S7: commercial bills, 4S2l3f
4s3. silver certificates. 54l5; bar silver,
b2i5: Mexican dollars. Al. Government
bonds firm. State bonds dull; railroad
bonds firm.