Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-12-10
STOCKS VERY ACTIVE
~
THEY RISE MATERIALLY AND ARE
REMARKABLY STRONG.
BULLS IN COMPLETE CONTROL.
Persistent Efforts TO Advance Promi-
ncnt Railways Meet With Con-
siderable succcss-Whcat Strong
COarser Grains Dull.

NEW YORK, December 9.-Stocks rose
materially to-day, and left off at the
best, with a remarkable display of ac-
uvity and strength. The opening was
firm, and was accompanied by great ac-
tivity, ignoring the shaded prices of the
London market. Manipulation of the
high-priced Industrials caused consider
able advance in these specialties. Rail-
ways responded only feebly. for the time
being, but later became the leaders of
the market. Purchases of hish-priced.
usually dormant stocks, and other gene
rally neglected issues Of a lower value,
enlarged The scope of trading and from
time to time attracted attention, when
dealing in the general market -as slug
gish and devoid Of feature. Des MONIES
and Fort Dodge was lifted 2 ga per cent,
Chicago and Alton 4, and Edison Iliumi-
mating : points. The leading feature Of
the railway list was Missouri Pacific,
which developed unusual activity and
buoyancy, which carried it's shares up
3 5-S per cent, TO IL 1-2. The mortgages
for the road also showed aggressive
strength, the Consol 6's rising points;
the SIS, 3 IL, and the collateral IS, 5
points. The buoyancy of these securities
was attributed in part TO the operations
Of bull pool, and favorable comment
Influenced by the recent cancellation Of
the company's floating indebtedness.
BULLS IN CONTROL.
The bulls had complete control of the
market, and although the prepOnderanCe
Of dealings In the Specialties during the
forenoon, coupled with their marked IT.
regularity. served to diminish trading
in the standard stocks. persistent efforts
were made TO advance the prominent rail-
ways, which met with considerable sue
cess. Rock Island started the rise and
the inquiry quickly extended to the rest
of the Granger group, and other Special
ties. which had been neglected during
the day. The shorts were frightened by
the decided strength OF the market, md
covered extensive lines in many proper
ties, which save a buoyant tone to the
closing.
The bond market broadened materially.
and round amounts of various issues
found a steady market at advancing
prices. Total sales. $70j0,00O. United
States old As, registered, and the 2s,
registered advanced Is in the bid price.
TOTAL SALES. 5l07O0.
The total sales of stocks were $4,000
shares. including Atchison preferred, A.
$40: Chesapeake and Ohio. 5000; Burling-
ton, 9Oi2; Louisville and Nashville, 1880;
Manhattan. 1920; Metropolitan, 1912;
Missouri Pacific, 7O95O Rock Island, 25,OO;
Union Pacific, 500; ST. Paul, 1920; Texas
Pacific. sos; Union Pacific preferred. g.
967; Tobacco. % Csc; Federal Steel prefer
red. Il, $50; Sugar, 6,SS7; Western Union,
$50.
MONEY AND EXCHANGE.
Money on call steady at 2Q2 IL per cent.
last loan at 2 IL per cent; prime mercan-
tile paper. 3 1-404 per sent.
Sterling exchange firm, with actual bust
ness in bankers bills At SiSi 1-2a$iSi 81
for demand, and SISl 1-2lfAS2 for sixty
days; posted rates $LS21-2 and A85 IL;
commercial bills, AS03-4.
Silver certificates, 50 1-2Q60 12. Bar sill
yer. 50 3-S. Mexican dollars, 46 3-S
Government bonds strong. State bonds
inactive. Railroad bonds strong.
BANK CLEARINGS.
The total bank clearances for the week
were 81. 631 $50 13l; per cent. increase. 20.6.
Total, exclusive of New York, SSH, 335, $50
per cent. increase, 1873.