Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-08-08
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT BUst-
NESS CENTRES OF THE WORLD.
Prices Of Money, Bonds, Stocks,
Grain, Tobacco, Gotten, Cattle.
Country Produce, &C., Foreign
and Domestic.

carried the market up TO higher level all
around. The principal OF these was
sensational jump in Manhattan Elevated,
which opened with running sales OF
thousand shares at 102 IL 10 105. as against
30 Ia at last nights close. Later. the
price rose to los, and reacted quite vio-
lently. but steadied again, and closed at
1O5 IL, net gain OF TIA Another very
significant feature was the fact that Lon
don changed front and turned buyer OF
American securities. The prices Of these
securities were higher in London at the
opening, and as the commission-houses
bought stocks for London, by noon the
prices here had risen above the London
parity. Some Of the stocks which London
sold OF late were the favorites for pur-
chase, notably st. Paul Another factor
in the rise was the further reduction by
l-2c. Of the posted rate for long sterling'
bringing the price down TO AS IL.
The Changers were leaders in point oil
activity, and showed sharp gains 10 new
record prices in a period OF several years
The Vanderbilts also were In keen de-
mand for investment buying, Illinois Cen
trail leading. Belief In an Improvement
in the Anthracites lifted that group to
higher level the movement being espe-
cially marked In Jersey Central.
Western Union showed gain on pros
poets that it would be benefited by the
general Improvement IN business.
The Industrials were Comparatively
neglected, although Sugar. Leather. and
Tobacco each realized point Chicago
Gas, East River Gas. and Laclede Gas
each showed declines, extending TO a
point in the two first named. In tho
Vanderbilts, Illinois Central led, with
a 31-2 points advance, Canada South
ern showing 21-2. or the Changers,
Burlington and ST. Paul each gained 5-S,
and New Jersey Central led the Coalers,
with 2 Ia advance.
PROSPERITY HAS SET IN.
The market for securities during the
week has reflected decisively the conf
dence Of capital that prosperous times
for this country have set in. The de-
velopments In the general situation have
justified the faith which began to mani
fest Itself in the tone Of the specula-
ton three months ago. and the strength
of to-day's market reflects the belief in
still further Improvement for the future.
There were about 2S25000 shares OF
stock sold on the local Stock Exchange
during tho week. The par value Of the
bonds marketed was $lS.6G2,oOo These
enormous transactions were made on an
almost constantly rising market. aRd at
level OF prices that has not been
reached before I'm years, and In some
favorite stocks never before; yet the
faith Of the outside public In still
further appreciation OF values has con-
tinued undated, az attested by the con-
off, mi ffT
house purchases.
The professional operators seem 10 re
the only ones tinged with sceptcism,
and their calculations are largely based
on technical considerations, such as that
reaction must come after SO long-con-
tinued a rise. They operate I'm the con-
fdence that most Of the recent buying
has underlying It orders to sell 10 stop
loss at a given point In any reaction.
The bears made n demonstration on
Thursday TO reach these stop orders,
but the outside buying took the market
out Of their hands. and drove them TO
buy back their short sales In the last
half-hour Of the day. This was the only
marked deactonary feature of the week.
The most striking fact In connection
with the weeks great market has been
the persistent selling for London ac-
count. no sign Of interest In American
securities being manifested from that
money centre until to-day when some
10000 or some II 900 shares were bought
for London account. The London prices
up to to-day have been below the New
York parity, and New York operators
have made part Of their purchases in the
London market.
THE WEEKS GAINS.
The Centrals were very largely dealt
in all the week. and Tobacco closed Is
higher. Lead preferred is up 5-S and
Cotton-Oil preferred Il. Great activity
was also displayed in the Changers, the
gain extending TO G1-S I'm Burlington,
53-S I'm st. Paul and 1-2 I'm Chicago
Great Western the last-named having
come forward to leading place among
the active low-priced shares. The Coal
ers are all up over 2 points. and New
Jersey Central 5 S-S. Illinois Central leads
the higher-priced Vanderbilts. in all OF
which there was good buying. with an
advance Of 81-2. and New York Central
gained 6. Manhattan leads the whole
list, with a u 5-S points rise. a few OF
the other gains are: Illinois Steel. 0;
Tennessee Coal 6; Laclede Gas. 95-S;
do. preferred. II; Metropolitan Traction.
6: n. and L., 9; Oregon Navigation. 4;
X y l.
6: Pullman, 63-i; Southern Pacific, AIS;
Manitoba. s: Western Union. 5 Ii an st.
Louis and San Francisco first preferred,
1873.
Transactions I'm railway and miscellape-
Gus securities were In considerable vol
ume at improved prices, which reflected
the marked confidence I'm the general stu
alton. The development OF various favor
able influences tended 10 acceDtuate the
upward movement. The low-priced and
middle-grade issues absorbed the bulk
Of the dealings, with purchases for specu-
lation and investment account by local
and foreign interests the chief factor In
the market.
The aggregate sales were s1seG2. 900,
which embraced an extensive variety OF
issues.
The gains were: Erie General IS, g.;
Seaside and Brooklyn Bridge Est, trust
receipts. s.; oregon Improvement. SIS,
trust receipts, G; Wisconsin Central, rst
trust receipts, 5: Wisconsin Central. in
comes, trust receipts, 8 3-S; Kansas
Pacific consols. trust receipts, ll-2; st.
Louis Southwestern. lists. 8 ga; st. Louis
Southwestern. IDS. 3.
MONEY AND EXCHANGE.
Money on call easy at 1Qll IL; prime
mercantile paper, 3l-2qi.
Sterling exchange weak, with actual
business in bankers bills at siS5 1-l0
H.S61-2 for demand, and si& 3-4dS4 IS
for sixty days; posted rates. s4.S5 1-20
s4S7 and sLS9A&; commercial bills,
stSi1-2
Bar silver. IS SIS; Mexican dollars. - Il
state bonds dull. Railroad bonds
strong. Governments firm.
NEW YORK STOCK QUOTATIONS.
Closing Stocks
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