Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-20
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT Busr-
NESS CENTRES or rHn WORLD.
Prices of Money, Bonds, stocks,
Grain, Tobacco, Cotton, Cattle.
country Produce, &cs Foreign
and Domestic.

NEW YORK., February iss-There was
fsolinS OF unessiness oterthe European
political situation reflected from all for.
elgn exchanges to-day, before the opening
OF trading on the New York Exchange.
The collision OF British ana French au-
tnorlty in the Niger District OF Africa
and the excited condition OF the public
mind In France we're the motives for the
heayiness. which in London resulted in
IAN ,of1-i IN British oonsols. American
securities were affected by the general
reavinoss, as well as by the special con-
,icratons growing out OF the Cuban
question. Declines In Americans reached
point in London, In number Of cases,
before the opening here. and, as a con-
sequence. at the opening selling orders
were placed for London account. There
was no local support for prices, On the
contrary. there was a resumption of lio,Ii-
dalton. and the bears were encouraged
90 raid the market Prices quickly ren.
Dol. only to the London parity, but be-
Joss &c. The declines. ranging up to 3
ronts and over invited covering by the
shorts. and prices hardened. but at no
tuo did they fully recover 10 yesterdays
close.
The weakness apparent in Sugar made
So The centre OF fierce raid in the final
dealings. and IL sank Ala points. 70
Us SIS the whole list selling Off to the
lowest. There was very determined sup
Port for Sugar at and below 10. and the
closing OF the market saw battle royal
in passage between the bulls and the
bears and the market consequently. I'm
very unsettled condition. Rallies of
over point were made by q number Of
stocks besides Sugar, but net losses were
left. Ola an average Of over a point.
London selling was a feature OF the
day. and the supply Of ST. Paul from that
source was sufficient TO meet q large de-
mand here and keep the price down.
The rate war in prospect between Cana
dian Pacific and Transcontinental lines
.r The United States for Klondike traf-
nc was a desperate factor. causing a de-
cline Of 9 points in Canadian Pacific and
OF Jess amounts In the other roads az
fected. Union Pacific As were very
heavily dealt I'm, two individual transac-
tons OF the par value of $4,000 and $780,
CO. respectively, being Recorded. One
block OF 10000 OF Rock Island extension
G. also changed hands.
The weeks developments in the Cuban
question effectually unsettled the market
and precipitated a heavy liquidation of
speculative accounts. The bears showed
some hesitancy at times during the week,
which caused a rally on two days-name-
Is. Tuesday and Thursday-the days OF
the severest declines.
To-day's bank statement reflects con-
itiOns that may also account for some
Of the week 5 hquidations in Wall street.
I- was expected that the movement Of
money away from New York, and the
of an instalment of the gov
ument's deposits of the Union Pacific
payment might be Offset by a contraction |
0f loans resulting from the liquidation
IN the Stock Exchange. Instead, there |
ias been an expansion in loans of over |
r Oo0Ooo. and a decline in the surplus re-
-erve OF S6.74S. 600. The loan account is |
lrobably affected by the operations in |
.onnection with the Kansas Pacific sales. |
The astonishing growth of our foreign |
rade. as indicated in the governments |
eport for January, the large consump- |
ion for iron at advancing prices. The con- |
inued foreign demand for grain at high |
'rices and the favorable traffic returns |
y railroads all point to an increase In |
-alues. but prices on the Stock Exchange |
we're unable to withstand bear pressure /
or the time being.
Bonds held relatively much firmer than
tocks during the week, and showed the
vidences of continued large absorption
~ Investment. Total sales, S24 10000.
United States new rs. coupon, declined |
"a: do. registered. SIS; old As, registered,
IS. do, coupon. IA, and the Us. / 5-&
Total sales. 2770OO shares. including At
hison. preferred. 1855: Chicago, Burling-
on and Quincy 1900; Manhattan. S.4S5;
metropolitan Traction. $3.50; New York
'entral. $500: Northern Pacific, 10450; do.
referred. II S5; St Paul. H.504; Union
'acifc. 6T34; Chicago Gas, $50; Sugar,
co.
MONEY AND EXCHANGE.
Money on call easy at l ID per cent;
act loan. 1-2 per cent; prime mercantile
aper. 3Q4 per cent.
Sterling exchange firmer. with business
h bankers bills at $4.S5 IL for demand
nd sls80s4SS IL for sixty days; posted
,tes. SlS4dS4S5 IL; commercial DIS
So -, N
silver certificates. IS 1-4456 II; par Sill
er * "a: Mexican dollars. 45 IL
stste bonds quiet. Railroad bonds
.sak. Government bonds weak.
4