Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-10-28
STOCKS AND BONDS.
MARKET SHOWS A CONTINUATION
OF WEDNESDAYS STRENGTH.
TOBACCO UNDER PRESSURE.
supposition That Recently Incorpo-
rated Company is Destined To lie n
F""eri"i Competitor-sterIin Ex-
change Ensicr-Wb.at Dec,,,.

NEW YORK, October 27.-The stool,
market showed a continuation Of vester.
days strength to-day. and the specuIa.
1--WE activity broadened out considerab bly,
IN ADDITION. There was not quite sucb
congestion Of trading i'm Tobacco and
sugar although these stocks continued
TO be the leaders i'm point OF activity
They were traded in nearly all dav Al a
level below yesterdays close. although
each stock advanced slightly above yes
terdays price for a brief interval. The
covering Of shorts, which caused yester-
days rise in Sugar, left that stock weak
again, and the extreme decline from The
high point was 3 IL. rally at the close
leaves the net loss 81.
Tobacco was under pressure. on the SIM
position that the recently Incorporated
company is destined to be a powerful
competitor, and on denials of accessions
to the American Company Of outside plug
tobacco companies. The stock was at orc
time off 23-i, but closed with a small
net gain.
RAILROAD SECURITIES.
In railroad securities, the continued
dulnesS and hesitation on foreign ex-
oranges were without effect. There was
q large demand for quite an extensive
list OF railroad stocks. the Changers lead
ing, with pretty much all the western
and southwestern roads showing a good
tone. The eastern trunk lines continued
to lag on account of the admittedly bad
rates In that territory St Paul was the
leader In the railroad list and the move
was
shadow a good September statement, due
tomorrow. The gross increase for that
period of earnings is known TO be well
on toward 100000 and ii is surmised that
the statement will show reduction in
the recent heavy rates OF expenditure
for improvements charged to operating
expenses. The September statement of
the Union Pacific, while showing u de-
crease of over S4i,000 In gross earnings,
showed operating expenses so largely re-
duced Is TO leave an increase I'm surplus
earnings of iSll2,jj4. The decided move
ment Of cotton now coming forward, ard
the decrease of yellow-fever foreshadOWs
good earnings for southern and south
western railroads.
The easier tone to-day Of sterling eX
change was the direct result OF the calm
or feeling i'm Paris. There was a heavy
demand for sterling exchange here yes
terday for Paris account which sprang
from the same cause as that which lifted
exchange on London in Paris above the
god-export point-namely, the pressure
to transfer funds from Paris 70 London. |
1t is now known also that the violent r.
covery i'm British Consols was partly due !
to buying for account Of timd Paris cap |
ital. because of domestic disquiet, and not |
altogether TO the relief of the Anglo |
l.,
THE BOND MARKET.
There was good absorption OF rail- |
road bonds to-day, and prices are gene |
rally higher. Total. $4,000. United |
States new As, coupon, declined II; do, |
registered. Is, while the IS, registered, |
advanced Is in the bid price
The total sales of stocks to-day were |
}57 200 shares, including $3.50 Atchison pre- |
ferred. 2j.735 Chicago. Burlington and |
Quincy. 1851 Louisville and Nashville, !
10 1853 Northern Pacific, 1880 ST. Paul, |
1910 Union Pacific preferred, 5000 To-
bacco. 5l45 Peoples Gas, $4,000 Sugar, !
Z .2OS Rubber
MONEY AND EXCHANGE.
Money on call steady at 3-ia2; last
loan at ga; prime mercantile paper,
l-4G41-4 per cent.
Sterling exchange heavy, with actual
business in bankers bills at AS Lin
SlS1-2 for demand. and at SiS2 l-iQ
slS21-2 for sixty days; posted rates.
yiS34sLSS1-2 and $4S6 1-2dA.@; CONNER
,ial bills. ANdsLa IA.
Silver certificates. GOaGl 1-2 Bar silver.
III. Mexican dollars, 81 IL
Government bonds weak state bonds
inactive. Railroad bonds strong.