The times. [volume] (Richmond, Va.) 1890-1903, 1897-05-18
FINANCE AND COMMERCE
THn oLOSING QUOTATIONS or
MONEY.
Offerings and Sales at the Richmond
bacco Etohange-internal Revenue
Collections-ToroignA Advances.

NEW YORK. May 1.-THE President s.
message calling lOr an appropriation 10
relieve destitute American citizens ia
Cuba proved far less hostile In tone to-
wards spain than the dealers ia securi-
ties had apparently persuaded themselves
that 10 would. and the market strengthen
ca GA its publication. recovering some
part OF the loss that cnsued upon early
lnumatons that the message was forth
coming and that It's tone tOwarG Spain
would Dee extremely provocative. With
Che exception OF "a few weak spots im the
market due TO causes peculiar TO the
stocks affected. the market was strong
an around to-day. and even the intlma-
lions from Washington that early action
in the Senate ON cuban belhercnCy was
probable did not weaken the tone OF spec
ulatiof. Tho traders. however. apparent
ly persuaded themselves that there is
fn ~ Tess danger 90 values in action by
the Government ln Cuban affairs than
they have felt during The previous agita-
ton OF the subject The dealings on the
exchange however. stan continues almost
wholly professional and exceedingly re-
stflcfcd ln volume. and the movements
: OF prices rcccht little more than board
room manouvrcs for shorts turns. and no
very definite opinion on general condi-
tlons. Tho renewed uncasincss apparent
on tho London Exchange over the trucu-
lent attitude Of the Turks towards me
creeks was reflected here 90 some extent
az the opening but the weakness was
overcome early in The session. The easier
tone OF tho exchange market both on
London and Paris was factor M
strengthening tho market IL does NOT
escape notice that the flow of gold into
the United States Treasury Keeps mp
steadily and that in the intervals Dee
tween the Withdrawals for shipment ire
Trcasury's gold reserve tends immcdi tte-
iy toward rcplcuishmcnt Tho prospect
of large grain crops. which had me el-
feet Of weakening the wheat market
tended the other way in tho market l0r
railway shares the erdneers 'Sp'cWHN
being in excellent demand, uotWlihstah0-
iuc the small easfh0und shipments rcport-
"a and rumors of rate-cuttinc by west
cru roads and rccrimiuati0n ON that ac-
count between the roads. Onc-third OF
Che transactions ON tho Exchange were
iu Chicago Gas and Sugar the former
leading tho market in buying movement
which advanced the price 2i2 on the day
Sugar was weak early. but scored "a net
gain OF "a fraction ON the day. Iobacco
was weak on the Illinois decision. denying
tho legality OF the company. but inside
support was forthcoming and the loss
was mostly recovered. Early strength I'm
fho c0aicrs amounting TO a rise Of "a in
New Jersey Central was followed by
hoavincss and the gains were more than
wiped out General Electric seems 10
have been caught without support 10y the
hears and was sold down OK only the
fraction being rcgaincd. The Gould
shares advanced ON covering early. but
developed weakness later in the day.
Fractional gains were very GENERAL
throughout tho list. London sold some
stocks ON arhitracc early but later ho-
came q buyer and 30 is estimated bought
some 10 600 shares more than were sold.
Tho total sale or stocks for the day
amounted 20 1885 chares including
American Tobacco Compauv $500. Amer
lean SUGAR Refinery. 90 ESQ. Burlington
and Quincy 1000. Chicago Gas. 700.
General Electric. 10000 Manhattan Con-
s0lidated p 200. S. Paul. 1000, New
jersey Central @ 900
The bond market disulaved little foa-
turo. lut prices were well held and n firm
underfonc was apparent. Fluctuations
were unusually narrow. and but little at-
tontiOn was paid 20 the prominent issues.
The aggregate sales We're $500 600
Governments ruled ho7vv and rocedod
% fraction for some issues. The sales
were 5000 state bonds were more
n~omincnt in the speculation and imnrov-
ga generally ON purchases Of $1,000.
MONEY AND EXCHANGE. Money on
call easy NJ fi0h per cent: last loan
af 81 per cent. closed offered ut 10h
ufr cent. primo mercantile paper 3N0't
per cent Sterling exchange c0sicr. With
arfrnl business in bankers hills 90 1871
0le-g for demand and no ae'1 0iSGh for
ncrcial bills 4c5itN4e1M. silver certif-
cafes C0f0c0it. bar silver. eng. Mexican
dollars 49, Government bonds weak