Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-11-01
STOCKS SUSTAINED.
nut EFFORT Is OBVIOUSLY RE-
CURED TO THIS END.
TOBACCO up SEVEN POINTS.
There Are 10 he sGO,OOO,O 900 of Sc
curities of the New Continental
Compnny-sebsntion I'm Provisions
Other Markets.

NEW YORK. October 31-Some obvious
day above the level of Saturday, and
the midday rise was not maintained to
the close, prices I'm some cases declining
below Saturdays level. An inspection OF
the list will reveal that outside Of a very
few cases the net changes are unimpor-
tant. Some observers believe that such
strength as the market has is due to the
support Of very powerful aggregations OF
capital which are interested In seeing
higher prices for some new securities.
Quite a large proportion of the total
business to-day was i'm Tobacco, the price
of which was rushed up points, to 1i3 3-S.
Much business was taken up by the Fed
eral Steel securities, the preferred stock
rising nearly 2 points, TO 70 "a. The Steel
stocks are dealt in "when issued" which
Is the Stock Exchange phrase for buying
what has not yet come into existence.
There are to be 200 Of the Federal
Steel stocks. There are to be $50 900 of
securities of the new Continental plug
tobacco annex of the American Tobacco
cess OF Rotation, the importance of sus-
tanning values I'm the general market for
their benefit Is undenlable. The task OF
doing this to-day was not an easy one.
and i'm the late dealings, with selling OF
Northern Pacific on a large scale, and
the talk of fresh complications In con-
nection with the roads relations TO other
roads. the burden apparently became too
heavy. and pretty much all the earlier
gains were wiped out. Tobacco and F'ede-
raj Steel were conspicuous exceptions.
WAR PREPARATIONS ABROAD.
There were other points of strength in
the market during the day, particularly
among the western and southern rail-
roads but there was no general public
interest in the market. and some atten-
tion was paid to the large naval and mil
itarv preparatfons making in Great Bril-
tain. The weakness of the wheat market
early in the day on the big Russian ship
ments was also an influence i'll the mar
ket The small demand for money Is not
regarded as a favorable indication, now
that there are abundant funds in the
market.
There was continued activity in the
bond market. the speculative and reof-
ganization bonds being the favorites.
The Union BaClllC ; SOiu ii'HN VI ~
day at par. which price they touched FOR
the first time on Saturday Total saAes'
s.. O9O 600. Government bonds were UNI
changed. ,oo
The total sales of stocks were Sii 100
shares. including 1880 Atchison prefer-
red. 1926 Chicago. Burlington and GUM
CIV. 1870 Louisville and Nashville, 5,5Zo
Manhattan. 1850 Northern Pacific, 6'A4
Rock Island 2S,45O St. Paul. $500 Am NJ n
can Tobacco, 21,615 Federal Steel, oo''S'
Federal Steel Cpreferred), and A'lzo sugar
MONEY AND EXCHANGE.
Money on call easy at S-4g2 per cent;
last loan at 81; prime mercantile paper
31-4641-4 per cent.
Sterling exchange firm, with actual Dus-
mess at 1876 1-2d$4S5 ga, in bankers Dllls,
for demand, and at A.& l-2d$4.3 "a io T
sixty days. posted rates, N.S5aS4'S5 l-Za
81 SGIls4.S7; commercial bills 344 per cent
ci,,,ar certificates. 6lG63. Bar silver,
81 . Sl362 Railroads Irregular.