Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-03
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT BUsI-
NESS CENTRES OF THE WORLD.
Prices of Money, Bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce, &C., Foreign
and Domestic.

NEW YORK, February 1.-The stock
market was under liquidating pressure
to-day but the strength Of some special
stocks and manipulated advances in the
case Of others, made the market exceed
ingly uneven. There were numerous halts
in the liquidation during the day, and
partly successful attempts TO achieve raj
lies, so that the 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 to take profits
in some of the most prominent favorites
of recent speculation. notably, Northern
Pacific Union Pacific, and the Wander
bits. Quite large element Of the pro-
fessional traders sold the market with
a good deal Of vigor and confidence.
Nevertheless, offerings were very well abb
sorbed and most Of the net losses of the
day are confined to fractions. The early
transactions showed positive strength,
under a combination of influences. Among
these was considerable buying for Lon.
don, especially of Ontario and Western.
There was quite large volume of buy
ing orders from commisson-houses du-
ring the day. The new securities of the
Union Pacific in the unlisted department
Of the Exchange advanced with some
thing of a rush over the opening prices,
and impaired strength to the whole
market. Baltimore and Ohio advanced
/ 1-2 over yesterdays high point.
With the execution of accumulated buy
ing orders, the bearish tendency of trad
ers grew and obtained the ascendancy.
There were various reasons given to ac-
count for the decline Among them was
the cutting of rates between Minneapolis
and Chicago, and the apparent hopeless
ness of an agreement on rates. There
was some apprehension too, over the
maximum freight rate case, which is
awaiting decision by the Supreme Court
Manitoba Minnesota Iron, and a num-
Der of other active stocks showed marked
advances. The Reading stocks were
strong, on rumOrs of the sale in London
of about S6OO0,OO0 of the company's bonds.
Norfolk and Western gained sharply
on the dividend declaration.
Notwithstanding these exceptional indi-
cations of strength, however, the gene
raj tendency of the market was toward
weakness. Rumors of losses sustained
by a local bank through injudicious
loans, encouraged the reactionists. The
rates for exchange hardened a shade on
investment demand induced by the low
rates for money. which continued TO
work TO an easier basis. The days ex-
changes at the local clearinghouse went
to the enormous total Of s2Oi 22l. 925 re-
flecting some very heavy financial opera
tons. The details of these could not be
ascertained.
The bond market continued strong, on
a large volume of dealings The Kansas
Pacific consols were decidedly unsettled,
first advancing fraction. then reacting
to 100, and later recovering to 1904
net loss of Is Total sales, 100000.
United States new tours declined l-S
bid, but there was an actual sale of the
coupons at an advance Of Ii
The total sales Of stocks were 10000
shares. including Atchison preferred,
1888; Baltimore and Ohio. li,O6O Chesa-
peake and Ohio. $40; Chicago Burling-
ton and Quincy. S,3l2; Louisville and
Nashville, 1896; Manhattan, 1910; Read
ing first preferred, 27,130: New York Cen
trail. 1850; Northern Pacific. $500; do.
preferred. 1925; Ontario and Western,
1925 Reading, $685.; ST. Paul, 1920;
Union Pacific, 27.5l5; American Tobacco,
II $50; Peoples Gas. $40; Sugar, ESQ.