Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-12-13
STOCKS BUOY Mt
THEY MAKE MATERIAL PROGRESS
IN THE UPWARD MOVEMENT.
ADVANCES OF FROM 1 TO 3 POINTS.
This Rise Exceeded In Many of the
Less Prominent Issues-Transac-
lions Enormous-Coarse Grains md
Provisions Strong-Whrnt Lower.


very material progress to-day in the pres
ent upward movement and left off buoy
ant, with advances in standard stocks
ranging from TO points. while this
rise was exceeded in many less prominent
issues, notably Pullman, Third Avenue,
and Edison Illuminating. The transac-
lions for the day I'm stocks ara bonds
were on an enormous scale immense
blocks Of securities changing hands at
rising figures Early quotations were in
strong sympathy with London, where
there was a scramble for stocks, even
after the closing there for the new ac-
count, which opens tomorrow. Commits
sion houses were in receipt Of many or
ders TO buy at the market, and the
volume of this Offset frequent efforts TO
depress values.
Reports Of traffic earnings for the first
week i'm December were almost uniformly
favorable. as were several belated No
vember statements of gross earnings.
An incident eXerting favorable effect
was the receipt Of over 100000 in gold
from France and London.
The immense demand for bonds in
which the transactions to-day reached
over 100000, eNerted a favorable in
huence on stocks, as did a tendency 10
discount January dividend disbursements.
Atchison preferred. on transactions Of
10000 shares. went up 8 "a The heavy
purchases were made by brokers identified
with prominent interests active in other
properties. The drift of speculative ac-
tivity in the Changers was interpreted IA
vOrably High-priced investment stocks
Ike the Changers preferred Great North
ern preferred. Pullman. New Haven and
Hartford and Albany and Susquehanna,
rNse sharply.
INDUSTRIAI.S GENERALLY Up.
Excepting Sugar, the industrials tended
upward New York Central's price crossed
that Of Pennsylvania. The Coalers, on
favorable outlook. were conspicuous for
advances. Pacifcs wer0 strong, with the
rest of the market.
The market for bonds was one OF the
strongest and most active of the year.
there being many advances of a point
OF more. A renewal Of foreign buying
on a considerable scale was noticeable
Atchison issues expanded, and a great
many other noteworthy gains were
chronic!ed in leading mortgages Total
sales. $4,000 United States new As;
the old As, coupon, and the SIS, registered,
advanced Is in the bid price.
Ihe sales of stocks were $50 100 shares,
including 10000; preferred. 1276l; Chesa-
peake and Ohio ESQ., Chicago, Burling-
ton and Quincy; 1880 Illinois Central
22l20 Louisville and Nashville II 1874 Man
haitian, $3.50 Metropolitan, IS, 300 Missouri
Pacific 600 Missouri, Kansas and Texas,
500 New York Central, $3.50 Northern
Pacific; OG20, do. preferred. 2O.GOO Oregon
and Western; 1920 Rock Island Il 20
Union Pacific, $500 st. Paul. COCO South
ern Railway; 174oO, do. preferred; 1850
Texas and Pacific, 1920 Union Pacific,
A.0OO American Tobacco, 6.4OO Bay State
Gas. 1910 Federal steel; 1890, do, pre-
ferred; 1900 Peoples Gas; 1910 General
Electric, $500 Pacific Mail. $3.50 Sugar.
300 Tennessee Coal and Iron. 1900
United States Rubber. 10000 Western
Union.
MONEY AND EXCHANGE.
Money on call steady, at 21-iG2 IL per
cent. last loan at 21-l; prime mercantile
paper l-4G4 per cent.
Sterling exchange easier, with actual
business in bankers bills AZ 4St1-4GISf1-2
for demand, and 4S1 1-2G4S1 81 for sixty
days; posted rates, ASP 1-2q4S5 IL; com
mercial bills, 4S01-2.
Silver certificates 90 1-2d601-2. Bar sill
yer 80 3-S. Mexican dollars, &c 1-2.
Government bonds strong. State bonds
frgnpr Railroads strong