Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-11-08
STOCKS DESULTORY.
OPERATORS BELIEVE THAT AFTER
ELECTION PRICES WILL ADVANCE.
SOUTHERN RAILWAY CONSPICUOUS.
Dealing In It's Consol Elves Continue
Very Large-Tobacco shows Large
Activity, Gaining Two Points
Wheat Advances 3-Sc.
wheat Advances 3-Sc.

NEW YORK, November THE days
stock market reflected the conviction OF
operators In securities that, with election
uncertainties out of the way. the strong
condition Of the countrys industries and
business will have their effect, and prices
will advance This conviction. so far as
IL was reflected in the market, was almost
a purely professional one, for the outside
interest as shown by orders through com
mission houses, was very small. Trading
proceeded in very desultory manner dur
ing the early hours of the day. although
the selling for foreign account. which was
fairly LIBERAL was well absorbed. and
prices OF the International stocks were
firmly sustained. Southern Railway pre-
ferred was a conspicuous example. But
as the day wore on the market gained
both in activity and strength, and en-
braced an increasing list Of stocks. The
contemplation Of the very heavy volume
of bank exchange. and the enormous ex-
port business in cereals. had their infiu-
ence on the bullish tendency, as had the
continued favorable report of railroad
earnings, especially from the South and
West Handsome Increases in earnings
were also shown by Southern railway,
Northern Pacific. and Great Northern.
preferred, the Iast-named showing S36,9il
more earned for October than last year
The stocks which are Junior to the bonds
which were favorities I'm the heavy bond
business to-day felt the advantage of that
movement, Atchison preferred advancing
over a point Tobacco showed the largest
activity, and gained over points.
BONDS MOST ACTIVE.
There were dealings in odd lots of quite
number of high grade stocks, but the
/ most CONSPICUOUS movement of the day
| was in bonds. In this department there
| was an enormous absorption Of bonds is
sued for the purpose of the reorganiza-
| ton Of various companies. and running
| from fifty 10 100 years. OF these, the 4
! per cents were the favOrites, and the
| Atchison issues were easily the leaders.
| gaining l per cent. in the price, on very
| large demand. There were individual
blocks Of these bonds sold, of a par value
| OF $4,000. $4,000, and two of 100000. The
| Union Pacific As were less prominent. but
| still active, as were Northern Pacific prior
! lien IS and Norfolk and Western general.
/ The Erie prior liens and the Reading As,
| which might be placed in the same class.
/ were heavy. Marked strength and ac-
/ tiyity was shown also by the new Balti-
! more and Ohio As. when issued and also
| by the 3iA's. Dealings I'm Southern con-
sol IS continue very large. There was a
/ good demand as well for many other
bonds of the middle grade, extending In
some cases to the purely speculation
issues. Total sales, $4,000 United
States new As. coupon, and the 2s ad-
vanced 4, and the old As, the new As,
registered. and the SIS, r. in the bid price.
! The total sales Of stocks We're 2S3. 400
shares including 2S.O63 Atchison, prefer
red; 1880 Chicago, Burlington and
| Quincy; 6,i30 Louisville and Nashville
| 9O59 Metropolitan; 5,134 Manhattan: 10, 29J
| Northern Pacific; 2062i st. Paul; SOLO
l Southern. preferred; 29,S55 American To-
| bacco; Is. s45 Bay State Gas; 900 Federal
Steel; 1926 Federal Steel. preferred, and
| 22,0i9 Sugar.
MONEY AND EXCHANGE.
Money on call, 1AG2 per cent; last loan
at per cent; prime mercantile paper,
| 3AG4A per cent
Sterling exchange steady, with actual
business in bankers bills at $4Sj2iG$fSt
| for demand. and A.S2l3aSi.S22I for sixty
| DAYS. posted rates, S4Sid$ISiis and $3.50.
| Qs4S7; commercial bills, si@i2d$i.S2.
Silver certificates. G0l4dGlA. Bar silver