The times. [volume] (Richmond, Va.) 1890-1903, 1897-12-16
FINANCEAND COMMERCE
Nm CLOSING QUOTATIONS oi
MONII.
Onsvine, and sales at the Richmond To
bscec ErobaDge-internai Revenue
CoIiection.-Foreign Adj vsntes.

NEW YORK. Dec f5.-To-day's mar
ket was largely professional. and In the
contest between the bulls and the bears
Oh. farmer enlisted themselves under the
banner Of the coaicrs. and later made To-
cal traction stocks their main resource.
The fortunes Of battles seemed TO shlit
several times during the day. and IN the
middle Of the afternoon the bulls scent"
10 have gained an advantage. The carrier
marked losses in some special stocks nav
fnS been almost entirely wiped out. ana
fbe hears apparently driven 10 cover. IN
fhe last hour OF trading. however. a large
number Of loans were suddenly called hno
in replacing them the call loan Iate SUI
fened sharply 20 per cent, AT whlcn ray
a large amount OF money was piaceu.
This induced liquidation. and especiaiiy III
stocks. which yielded a proit on the Gay ;
advance. The bears, thus encourages, r.
newed their attack ON the specialueS;
which had cngrosscd their attention an
day. and uncovered stop-loss ordsIs OF
the way down. AS consequence the tiue
Of battle was turned completely, ana VIC
tory lay with the bears Inc scarcity. on
money Is due to operations looking TO ,ne
payment tomorrow OF an lhslahmcht Oh
about s.. 800 900 on the Union Paclnc SAFE.
The previous payments on TINS account
Amounting To over so 600. have been
left on deposit In New York banks, bnt
to-morrow's payment VIII so direct INTO
the treasury and be Withdrawn from the
Of an equal amount remain TO be paid
ono December 9th and one on January
island these also 80 directly INTO the
treasury. The payment by tho Govern
ment on December oath Of the maturing
Pacific bonds. which amount 20 over S2O.-
coO.0OO. will be made by checks. presuma-
bly, on the New York deposits 70 the Gov
ernments credit. The movement OF cur
rcncy continues from New YORK this week,
indicating o still further decline in New
York cash reserve. The tons Of sterling
exchange was somewhat easier to-day
but did not respond in marked degree
TO the hardening Of the money market
Time money Tor the shorter periods also
stiffened appreCiably. The early strength
IN to-days stock market was alded by
the rise In the price OF coalers. due 20 re-
ports'of an agreement 10 restrict the out
put<of next year. The Northern Pacihc
stocks were also centres of strength, the
preferred advancing al one time Us ano
the common nearly point. Reports IRON
London and the European bOurscs showed
a good demand there for these stocks.
AtChison preferred was also up over q
point at one time. Tha rise above par or
Burlington WAS n further feature. Inc
resumption Of the quarterly dividend OF
III on Cleveland. Cincinnati. Chicago ano
St. Louis preferred. after It's omission for
two quarterly periods, was feature OF
tho day. as was the per cent dividend
in ex-dividcnd. and at one time during
tho day showed a recovery or one-third
Of the dividend. but in the later dealings
II suCcumhcd quite easily, and lost over
two points on tn day. Norfolk and West
ern preferred. which was AT ono time
nearly three points higher. shows net
gain Of rs.
Tn. bond market was somewhat less
active than of late. and the active lst
was only about steady. Some Of the high
priced issues showed sharp advances.
Missouri Pacific collateral IS lost 3 per
cent Total sales 500 900.
Total sales Of stocks were 46S Az, IN
Guiding Atchison. Z 800. do preferred. ID
300. Chicago Burlington and Quincy. 3D.
PISS. Louisville and Nashville. G.G10. Man
haitian 81 $50: Metropolitan Street rail-
way. g1iO. Missouri Pacific. $40: New
Jersey Central. i2O3S; Northern Pacific.
~ 373. do preferred. 80 go: Reading.
& so. Rock Island T. $50: st. Paul. S}.3lo;
Southern railway preferred. 9495. Chicago
Great Western. GG2O: Peoples Gas. II. 1ti'
Sugar. ex dividend. al 800; Western Union,
q. i22
MONEY AND EXCHANGE Money on
can frmer at pa per cent. last loan at
gis pcr cent. and closed at 1852 per cent. :
prime mercantile paper. 3p4 per cent
Sterling exchange easy. with actual busi,
moss in bankers bills at 4S5h for demand
and al tS2NdlS2es for sixty days, posted
rates 4S3.1lSt and 4SGiNi4S1; CONNER
cial bills. is2u Silver certificates, otl2p
5Si.. bar silver. -. Mexican dollars, 91i2
Government bonds easy; state bonds dull;
railroad bonds strong.