The times. [volume] (Richmond, Va.) 1890-1903, 1898-02-03
FINANCEAND COMMERCE
THR CLOSING QUOTATIONS on
MONLI.
Offerings aud Sales 1T tho Richmond To-
bscoo Kxchange-Internsl Revenue
Coiections-F orciga Advances.

NEW YORK. Feb. 2-Tho stock mar
ket was under liquidating pressure to
Gay. but the strength OF some special
stocks and manipulated advances OF
others made the market exceedingly un-
oven. There were numerous halts IN tho
liquidation during tho day, and partly
successful attempts TO achieve rallies. so
that tho day was one OF constant
changes, some stocks mounting upward
strongly. while the market was tending
downward There was every evidence OF
continued heavy selling 70 take profits
in some OF the most prominent faNoritcs
- ne recent speculation notably North
ern Pacihc. Union Pacific and the Van
dtrbilts quite a large element Of the
professional traders sold the market
with good deal OF vigOr and confidence.
Nevertheless, offerings were very well
absorbed and most Of the net losses OF
the day are confined 10 fractions. The
early transactions showed positive
strength under q combination OF infu-
'ncos. Among these was considerable
buying for London. especially OF ontario
and Western. There was quite largo
volume OF buying orders from commits
eion-houscs during the day. The new Sc
curitics OF the Union Pacific In tho un-
listed department Of the exchange adj
yanCcd with something OF "a rush over
TIE opening prices and impaired strength
20 tho whole market Baltimore ana
ohio advanced ~ over yesterday high
point. With the execution OF accumu-
iNlfN NuNlnE ofdtIht inc LtaIirN ttNNfiiNe
~ traders grew and Obtained the asccn-
dcncy. There were various reasons given
20 account for the decline. Among Them
was the cutting Of rates between Mime
apolis and Chicago and the apparent
hOpelcssness Of an agreement on rates
There was some apprehension over the
maximum freight-rate case which Is
awaiting decision by the Supreme Court
Manitoba. Minnesota Iron and a number
OF other active stocks showed marked
strong on rumOrs Of the sales in London
OF about $4,000 900 OF the company bonds
Norfolk and Western gained sharply on
the dividend declaration Notwthstand-
ing these exceptional indications or
strength. the general tendency Of the
market was toward weakness. Rumors
Of losses sustained by local bank
through uniudiciOus loans encouraged the
reactionists. The rates Tor eKchanee mar
dened a shade on investment demand, in
duced by the low rates for money, which
continued 20 work 20 an easier basis. Ihe
days exchanges at the local clearing
house went TO the enormous totai OF
500. 22f .a2J. rejecting some very heavy
financial operations. The details Of these
could not be ascertained.
The bonds market continued strong on
n large volume OF dealings The Kansas
Pacific consols were decidedly unsettled,
first advancing a fraction. then reacting
10 100 and later recovering 10 llu~, a
net loss of H. Total sales, 100000
United States new as declined "a bid' but
there was an actual sale OF the coupons
"a an advance Of Il. ...
The total sales OF stocks were 4OOVO
shares including AtchisOn preferred,
1893. Baltimore and Ohio. 1900 Chesa-
peake and Ohio. $40; Chicago Burlins-
ION and Quincy. S.812. Louisville and
Nashville. S9O5: Manhattan. 12.7iO; Read
ing first preferred. 2713c; New York
central. 8T.503: Northern Pacific, 952O;
do. preferred 1925, Ontario and West
crn. Is 125: Reading. G062, st. Paul. l6,-
30. Union Pacific. 2T.5l5 American To-
hacco. 1850: Peoples Gas, 0,0iO; Sugar,
1850.
MONEY AND EXCHANGE. Money on
call easy at 1Ml1A per cent; last loan
at 1E per cent. prime mercantile paper,
3d4 per cent. Sterling exchange strong.
with actual business In bankers bills az
4Sf7kn4s5 for demand ana at 4s2MU4S2
Tor sixty days. posted rates, 1S3ilHis0;
commercial bills. ASP. Silver certificates.
H.H.| a. a.tH "