Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-09-21
STOCKS GO LOWER.
THEY CLOSE BARELY STEADY AND
BELOW MONDAY NIGHT.
TOBACCO PARTICULARLY WEAK.
Also, the Changers and the PaciGcs-
FURRY I'm Money Market-Ou,Iools
for Money, However, Clearly To-
ward Greater Ease.

| NEW YORK, September 2O.-The stooh
market to-day presented all the charac.
teristics Of genuine reaction. Last weeks
| liquidation OF profits had been mostly
| completed during the previous decline
and the market was thus freed TO a great
extent from technical influences, and In
| condition 10 respond TO the good pros
poets for general business in the coun.
try. Its failure to do so yesterday was
attributed to the unsettling influence OF
the slump in Sugar. The bears were evil
IDENTIFY timid about continuing their cam
paign further against Sugar, and were
| inclined 10 cover. so that this influence
toward reaction was removed. Neverthe-
less. the market dropped heavily toward
lower basis. with one or two excep-
lions in the list, and closed only barely
steady. at a level generally per cent or
more below last nights level.
The demand for stocks was very small
ali day. and prices went down easily, I'M
der comparatively light offerings Weak
ness was particularly manifest In Tobac-
co. the Changers, and the Pacifcs. The
cident with the marking up Of call loans
TO per cent. This furry in the money
market was a disappointment to bull
operators, especially in view OF the mail
ing from the Treasury Department of
checks for interest on the per cent
bonds due October LIST, amounting TO ST.
$1,000. which are payable Immediately.
The Sub-Treasury's debit balance at the
clearinghouse also ran up to-day to ST.
POI, i5S, rejecting a large increase in gov
eminent expenditures.
Call money in London is f-2 per cent. I;
against per cent. here to-day. London
discount Is "a 10 17-S, against 4 per
cent. here.
SILVER FOR SPANISH ACCOUNT.
1t is a fact that part OF to-days gold
engagements were made by bullion deal
ers here who are shipping silver in re-
spouse 10 the existing active demand, at
tributed to Spanish account. There is not
sufficient demand for the exchange
against the silver shipments 10 make
market. and there is a better profit In inn
porting gold. Exchange Is thus clearly
demonstrated TO he at the gold-import
point, and the question arises, What has
been done with the country's credit
abroad that it does not bring a larger
gold movement? The immediate future
of the local money market Is, however,
clearly toward greater ease.
Dealings in bonds were not on a large
scale to-day, and prices were toward
lower level. Total sales, N,N0CO.
United States As, old and new, were Ia
lower in the bid price.
The total sales Of stocks to-day were
i52. 100 shares, including Chicago, Burling-
ton and Quincy. 14.725; Manhattan. 1885;
Northern Pacific, 1895; do, preferred. H.
IA; Rock Island. 1928; Union Pacific, 49,
Se5: St. Paul, IS, 100; Union Pacific prefer
red &c. 495: American Tobacco. 2,lJo; Chi
cago Great Western. 9,120; Peoples Gas,
II $40; Sugar, 122,3Oo; Leather preferred.
1856.
MONEY AND EXCHANGE.
Money on call firm at 4 1-2a6 per cent;
last loan at per cent; prime mercantile
paper. 415 per cent.
Sterling exchange heavy, with actual
business i'm bankers bills at $iS3 3-iqA.A
for demand and s4.S1 3-4qs4S2 for sixty
DAYS. posted rates, SLS3qSt8 1-2 and
S.s5qs4S5 1-2; commercial bills, $3.50 1-2g
$4.a. . H.. r,
Mexican dollars, AZ 3-s.
Government bonds weak.