Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-11-17
STOCKS ARE HIGHER.
CLOSING, MOREOVER, ACTIVE, AND
QUITE STRONG At THE TOP.
CALL MONEY EASES OFF 4 FRACTION.
Demand for Time Money Less
acuxe-Bouds Less Achievement
Remarkably steady I'm Face Oh
Bearish Ncws-Provisions ADVANCE

NEW YORK, November 16-Apparently
the watchers who have been waiting Tor
reaction in thu market to buy stocks
made up their mind that this morning
decline was the most that could be look
ed for under the circumstances, and they
accordingly came into the market In
great force, and before the end OF the
dav had wiped out the earlier losses en-
tirely and established higher range Oh
values than yesterday throughout. AL
though net gains are in nearly all cases
confined TO fractions, the extreme rise
from the low point in the majority OF
active stocks amounted to l per cent. or
over. and the closing was active ana
quite strong at the top.
The morning losses were not made
without resistance, notably by Atchisoh
nreferred. the Union PaciGics and some
of the Specialties. Chicago and North-
western and Omaha also showed strength
before the break, but the very heavy Oh
forings of Northern Pacific stocks proved
too heavy a burden for the market 10
carry. especially as London continued
"a show a disposition 10 reallze III the
| international securities. The Northern
| Pacifics fell over a point below last hight'
| and the whole list receded below last
NIGHTS level. Some stop-loss orders were
uncovered on the way down, Dut oruerS
| in commission houses TO buy were en-
| cotntered in an increased amount, ana
! ,ho charm advance in the Northwestern
! stocks and Omaha, ranging from lo-t "
32-4 turned the whole market upward
| BUYING DEMAND FROM LONDON'
The selling for London account alsO
| changed to a buying demand AT the loWc'
Io,,oI These were for the most part sim
plv arbitrage operations, paseu o" enS
| dis,oritv between London and New Norh
prices. The session OF the rams peIV'
Conference and the fixing Of a date Ioi
f,,tnra meeting afforded some relic
from apprehensions OF a rupLure' "Hi0'
have prevailed in London.
In The local money market. although
sterling exchange held steady, and New
york exchange at Chicago fell TO par
ubiIe the currency movement on Dalahc
continued away from New YORK, the Iau
Co. coll money eased off a fraction 10
,,,ard tho close Of the day, ana the ue
mand for time money was less ac'lVe'
Tbcre was a falling off in activity In IN
ho,1 market. and heaviness in sympdth
WITH stocks. though the tone improve
= heforn the close. Louisville, EyansVili'
, and 81 Louis consol trust receipts :ose
noints over yesterday, and IA points "
; Monday. Total sales A3io'oW. Ci'its
4, states new is, coupon, declined 10 III VI
bid price. 49, .,.oro r9o I,
< shares Including 1910 Atchison; So'J6i 90
r rreferred. 1896 Baltimore and ONO; 10
, Chicago. Burlington and Quincy; I'D
e louisville and Nashville; $50 Mahndttai
% s25 Northern Pacific; S,lSI DO preLeIie'
!, * n; Missouri Pacific; 205l5 Rock lsldh'
d 9S 900 81. Paul; 1856 St. Paul and oman
= 40 Union Pacific; $3.50 Southern preie
e rpd. llGO international Paper; o5'e
K American Tobacco; sos Bay state va
g oO75 Federal steel; 1864 do, preleIre :,
= 10 90 peoples Gas; 13,i6l Pacihc Man o.
: Saq sugar: 1O.3Sl Chicago Great NesteF
MONEY AND EXCHANGE.
Money on call steady at 2gz IL p
cent; last loan at 2 per cent; prime NE
r. camille paper. 3q4 per cent
Sterling exchange steady, VITA ac.u
business i'm bankers bills at Shso l.
- 4S51-2 for demand, and $iS9aSi.S2 II
y sixty days; posted rates, $i.s5 ana Si'oo
N commercial bills. SLN 1-4a$4.sl "a.
Silver certificates, 60 7-Sa6l IL. Bar
- yer GO "a. Mexican dollars, 47q4' Is.
n Government bonds easier. STATE Don
IA firm. Railroad bonds weak.