Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-09-19
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT DUsr-
NESS CENTRES OF THE WORLD.
Prices OF Money, Bonds, stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce, &C., Foreign
and Domestic.


session OF the Stock Exchange was the
extraordinary gyrations OF Consolidated
Gas stock. The stock had been com
paratively steady at about go since it's
tump Of % points early In the week.
But 81 took a violent fall to-day of
over 10 points from the opening. The
variations IN price on the down grade
were as high as points between con-
secutivc sales. The stock closed at 233.
net decline of 6. It's eccentric move
monts served TO unsettle the whole mar
Kct. and discouraged trading generally.
Tic market saggod somewhat. There
was an undertone OF heaviness. Tho indi-
cotions supplied by the bank statement
that rates for money would rise fur
iber in the near future served as
check on speculation. and helped the de-
cline In the final hour.
Manhattan suffered a sharp decline Of
2 "a. The common reacted somewhat
from yesterdays advance. Chicago
Great Western manifested strength in
is August statement and Burlington
vas carried above St Paul, but closed
q fraction below. Union Pacific was un-
de- pressure Of London selling 20 rea-
lie. after yesterdays heavy buying.
baltimore and Ohio rose a point. and
reacted, and Baltimore and Ohio South
western preferred rose over two points.
md retained practically all the gain.
Pittsburg. Cleveland Chicago Cincin-
natl and 81. Louis advanced two points.
The Northern Pacific stocks were heavy
throughout the day. The close showed
prices generally below last nights close.
THE WEEK.
The belief Of the bears that the long
expected reaction is due has been aug
mented from time 10 time this week,
and a short interest shown in somewhat
aggressive moods. The bears We're not
much encouraged by their efforts made
on Tuesday. and on Monday, when they
were routed as a result OF the sharp
fan In exchange. and the prediction that
a gold import movement would soon
set in. For the rest Of the week the
market was irregular. and sharp adj
vances occurred in different stocks
throughout the list. while other leading
stocks remained at an unchanged level.
There was heavy liquidation I'm Pitts
burg, and the steadiness with which the
offerings TO realize were absorbed is a
striking testimony to the continued
breadth and strength Of the support.
Some OF the most remarkable of the
advances have been well retained. and
the level OF the market is decidedly
higher than n week ago. Consolidated
Gas is the only one Of the stocks adj
vanced that has had a serious setback.
The high prices Of many stocks are based
on the expectation Of increased divi-
deuds. but in no case is the prospec-
tive increase in like proportion to the
increase which has taken place in the
price. There is good ground, therefore,
for tho argument that the prices have
advanced to a higher level than is war
rauted. The argument IS made. on the
other hand that the rate Of return on
investment has reached a permanently
lower basis.
The long-continued stagnation in the
money market has tended to the same
conviction. To-day's bank statement
however. gives evidence Of the rapid abb
sorption of idle money by the growing
needs Of commerce and industry. IT is
evident, also. from the action Of the ex-
change market. that the expanding bal
ance of trade In favor Of this country
stands as a safeguard against any strin-
gency in our money market.
The net changes for the week in ma
Jority OF the leading stocks are small.
but a few stocks show large gains. Quite
@ NUMBER OF usually utBlttitu anu low
priced stocks have been carried TO a high
level.
The business in bonds has been heavy,
hut the advances were not so marked
rs during recent periods. some Of the
speculative issues showing slight reac-
lions on proht-taking. Dealings in gov
eminent bonds have been dul and prices
are unchanged. except for the new As,
which are IL lower
Sales Of stocks to-day were 2i60T
shares. including Atchson, 1880; Chesa-
peake and Ohio, no; Chicago Burling-
ton and Quincy, lGiOO Louisville and
Nashville. $500; Manhattan L., no; Mis-
souri, Pacific. GOO: Reading, 1890, 81.
Paul. $50; Union Pacific, S295; Northern
Pacific and c.. $685.: Chicago Gas, 1870;
sugar, $780, Chicago Great Western,
u.52o.
MONEY AND EXCHANGE.
Money on call nominally. at S-4a2 p
per cent; prime mercantile paper, AZ
Az per cent.
sterling exchange dull and steady, with
actual business in bankers bills at
8-4QSiS5 for demand and S4S 1-iQ
sA31-2 for sixty days; posted rates,
slSQSla and $iS5 1-2Q$lS6 IL; com
mercial bills, SLSl 1-2dAS2.
Bar silver, 51-4 Mexican dollars
G3-L
state bonds quiet. Railroad bonds firm.
government bonds steady.
FOREIGN MONEY MARKETS.
The Evening Posts London financial
cablegram says: The stock markets were
ouiet but good to-day, and the outlook
Go firm. barring any disturbance in politi-
cal news. Americans were active, al
though not more than one OF every ten
Zen can tell how far the buying price is
Tor New York or for English account.
Irndoubtedly the operations here are
,,,.totv ON New York account. although
Tnglish reanzations on high-priced
sbares continues. and cheaper shares are
- houeht here Those who are most
san,,,ine about Americans apparently
80 their views mainly on the idea that
So work Is TO run London out Of
stocl,s Hence. the best key to the posi-
,ion &c furnished at each settlement.
rho discount market is barely steady.
American bills 10 arrive ten lays hence
are quoted al per cent or Is lower than
considerable amount OF gold Is row
being shipped TO india
NEW lORK STOCK QUOTATIONS.;
Atcnisoa. Fopeka aud SANTA 70 .-.. ......- 1925
Atcn son, preferred .................. ..'s'. -
Baltimore dI1 OIt0. ....-..-......ss..'..'- I94
Canaoa Pa ,ific..... ....... ..... -..-.''' aoS
Canada south era............'s ....''s'''''' "
Central Paciae -.''''''''''' 5e,4
Chesapeake an Ullo.....-+..ss.ss''t zee IN
chicago sue hton ...-...... "''''''' 80
Chicago, Bgrrns iinfy. ..'.'''''''' iVt14
CLi:agoand Eastern Illinois,. 29Zs
G.. q. c. aa1 -. Louis. .....,....''''' aV tA
O.. q G. aud 81 LOUIS preferred.......... $40