Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-09-24
STOCKS ARE TORPID.
ONLY A RIPPLE HERE MD THERE
on SURFACE OF MARKET.
TOBACCO WEAK AND DOWN TO t47s.
At the Same Time, Some Obscure
stocks show Noteworthy Advances.
Grains Weak-Provisions strong.

NEW YORK. September B.-There was
only a ripple here and there on the
surface OF to-day's market. There were
wide gaps in the list OF usually active
stocks, and the prominent securities
which moved at all. did so in a sluggish
and hesitating manner on a small amount
OF trading. The bears seemed to
have the upper hand at the opening.
and clipped the price OF ST. Paul point
in addition to the 21-2 per cent. dividend.
which was taken off to-day. Gene
raj Electric new stock), Sugar. Metro
pol.tan, and Peoples Gas all showed de-
clines, ranging from sharp fraction up
TO nearly IL. Sugar showed resistance.
and drifted back TO the neighborhood Of
last nights closing prices. The market
later fell into a torpor. the bears being
discouraged from further operations in
view of the hardness Of prices and the
easier tendency of the money market,
and the bulls being disinclined TO renew
their campaign until conditions in the
mercy market become more settled.
Some reliance has been placed upon the
dawnng interest in Americans, which
was becoming manifest on the London
Exchange. as a help TO the next bull
campaign. but New York's demand upon
London for gold. and the consequent
stifIcning of the money rate there, when
went TO 2 per cent. to-day, for call loans,
and 5-Sd2 "a per cent. for private dis
count, has brought speculation in London
n a standstlll. Americans have fallen
fat there. along with the other markets.
WAITING ATTITUDE.
There were movements in individual
stocks to-day, but the market. as a whole,
presented a waiting attitude. Tobacco
was weak. and sold as low as 1iI 5-S,
while some obscure stocks showed note
worthy advances. There was good buy
ing on a small scale of the Changers and
Pacifics. on the statements OF earnings.
Ne. changes i'm the majority OF cases are
small. and fail TO reflect any general con-
dition of business.
The total sales of stocks to-day were
OK 700 shares. including 600 Chicago, Bur
liueton and Quincy; 69G Manhattan;
II 0G1 Northern Pacific; 16.4s5 Union Pa
ciGc: II .c25 St. Paul; 14,791 Union Pacific,
preferred: $3.50 Peoples Gas; 1901 Sugar
200 Tennessee Coal and Iron.
The bond market was extremely Gull,
with the exception VI ohh Ahtoii' "h'
Aransas Pass As. which went up two
points on large transactions. Price
charges were irregular. Total sales, ST.
| so CO..
MONEY AND EXCHANGE.
Money on call steady at 3n4 per cent
last loan at 3 per cent; prime mercantile
paper. 41J per cent. ..,
Sterling exchange steady, Win ac.ua
| h,,sinees In bankers bills at S4.S3 3-inA.S
for demand and at A.si l-4QSi.a ~ ioi
sixty DAYS: posted rates, N.S2uf.@ IL anc
| a 81. commercial bills, $3.50 IL.
silver certificates Al l-iai2; par SILVER
| Al MEXICAN dollars, AZ 3-S
! Government bonds steady; State bonds
! strong: railroad bonds irregular.
BANK CLEARINGS.
The total bank clearings in the uniteC
! ctotes for the week were A,22J, 80
ner cent decrease. 3.2. Exclusive OF New
| York. 500 .s3G, $40; per cent Increase Z'S'
1 M