Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-11-02
STOCKS AND BONDS.
TRUST SECURITIES FLUCTUATE
VIOLENTLY, LED by TOBACCO.
SHARP DECLINE IN WHEAT.
Corn Also DecIincs-Oats Unchanged.
Pork, Lard, and Ribs show Losses
Cation md other Mnrkets-New
Orleans Exchange Closed.

NEW YORK, November 1.-The trust
stocks continued to absorb a large share
of attention in Wall street to-day. The
fluctuations were violent and at times
conflicting, but owing to the predominant
influence OF Tobacco in this class OF Sc
curities most Of the group closed the day
at net losses. The trading in all Of them
was with full mystery on, and there
was no conclusive reason known to the
public either for the early advance or
the subsequent decline. Probably the
inherent weakness Of Sugar in view Of
the formidable sugar war in prospect.
was the root of the difficulty. which was
precipitated by the statement that one
Of the new rival companies had COM
menced melting sugar to-day. There has
been good support Of Sugar for several
days, with the obvious intent of aiding
the rise, and when it proved too heavy
to-day Tobacco took a sudden drop OF
over 6 points, and fiuctuated feverishly
for the rest of the day. 1t is quite posi-
bic that Tobacco was allowed TO fall with
a view to shaking off an undesirable
speculative following, but whatever the
purpose the movement of the price was
purely manipulative and under accurate
control.
The Federal Steel stocks fell off from
the best in sympathy, but the fuctua-
ton in these was much narrower, and
the support apparently more substantial.
STANDARD DISTILLING COMPANY.
The securities of the new Standard
Distilling Company, the twin company of
h.. ,.Vfl CnfF ID nG,,
were the latest accessions to the list of
so-called trust stocks on the Exchange,
with an added capitalization of $24,oOO,0O0
to this class Of securities. They rose
from 2 to 21-2 points over the early
quotations, but sagged before the close.
in the general heaviness of the market.
The always vulnerable Coaers came in
for some severe raps, on the ground OF
the unfavorable September statements
of Reading and New Jersey Central, and
the general depression in the anthracite
trade. The extreme declines ranged
from to 3 ga in the group, which uncov-
cred stop-loss orders, but which was fol-
lowed by rally. on covering OF shorts.
Changes in the railroad list are very
small as a rule. and though losses pre-
dominate, there is a fair sprinkling Of
gains.
NORFOLK AND WESTERN STRONG.
Norfolk and Western preferred is a
conspicuous example, on its strong Sep
TENDER statement, showing last years
high level of earnings well maintained
There was not lacking a feeling of I'M
easiness over the threatening portents
in the European political horizon. re-
Elected by the spasmodic rise in Interna-
tional stocks, in tho absence of trading
on the Paris and London stock ex-
changes. Stocks as a whole, however,
showed themselves very little affected.
Though prices in railroad bonds, as a
rule, were easier. there were exceptions
on the side Of gains. Total sales S2,21O.-
600. United States 3's, registered. and
old As. registered. advanced is in the
bid price. The rs, coupon, sold as high
as 100 5-S, ex-interest, which is eouiva-
lent TO the best price with the interest
on.
Total sales of stocks. 1896. 500 share.
including 1855 Atchison preferred; 1872
Delaware and Hudson; 9.445 Louisville
and Nashville; 1882 Manhattan: 5235
Northern Pacific; 1885 st. Paul: u 200
American Cotton OIL; Si,i2O Tobacco; A.
203 Sugar.
MONEY AND EXCHANGE.
Money on call steady at "a; last loan
at /; prime mercantile paper 3 3-4G4
sterling exchange firm, with actual
business in bankers bills at AS53-48
S.S6 for demand, and at s4s2 1-2d$4S2 ga
Tor sixty days; posted rates, sLSdstS21
and AS6aA.6: commercial bills, Aa1-4
Silver certificates, 61G62; bar silver
81 S-S; Mexican dollars, 471-2.
Government bonds firmer; State bonds
strong; railroad bonds easier.