Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-01-16
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT BusI-
NESS CENTRES OF THE WORLD.
'rices of Honey, bonds, Stocks,
Grain, Tobacco, Cotton, Cattle.
Country Produce, &C, Foreign
and Domestic.
and Domestic.

market was subjected TO a rather drastic
| liquidation OF holdings to-day, in con-
tinuatlon OF the movement of yesterday.
The selling was due TO a feeling that it
was safer to take profits at the present
level than TO retain holdings over Sun
day. The situation at Habana was the
! motive Of the selling. There is no as
surance felt that there may not be a sud-
/ den development OF a dangerous situation
| there, which would necessitate immedi-
ate measures by the United States naval
forces to protect the interests Of Ameri-
can citizens resident in Habana. The fears
on this score were somewhat aggravated
by the persistent selling of houses with
Washington connections. This was taken
90 reflect a feeling of apprehension in
official circles as to the outcome Of the
situatin. or course, the professional
traders were ready to turn sellers without
further inducement on the general prin-
ciple that prices 30 down much more
easily and quickly than they so up.
The bear attack was vigorous and ef-
fective. and margins being wiped out in
over 20 save losses. thus adding to the
weakness of the market. The sharp rally
at the close. on the covering of short
lines put out earlier. indicate that bear
selling made up considerable proper
ton of the whole.
| Io-day's and yesterdays reactions in
the stock market put an end to the period
of strength and activity earlier in the
week which was regarded as giving good
promise OF the usually expected January
boom I'm prices. only those stocks which
scored extreme advances early in the
week have anything left 20 show for IT,,
the general level of the market being de-
cidedly lower than at last Saturdays
close.
The special points Of vantage on which
the strength of the market held early in
the week We're the Northern PACING
stocks and Union Pacific, the source Of
this strength being the assurance OK a
continuance Of Union Pacifcs old outlet
to the Pacific coast Northern Pacific and
the Union Pacific group also enjoyed the
benefit of anticipations Of a large hlon-
dixie business in the spring.
Manhattan was another point OF
strength I'm the market. with a lO-point
rise. half of which was lost in the taking
Of profits.
Sugar was persistently weak. It's de-
cline has been attributed to the declared
purpose of the directors to retain the
surplus for contingencies. and professional
traders have taken a gloomy but unin-
formed view Of what these contingencies
might be. The tendency Of the Hawaiian
annexation treaty i'm the Senate has been
unfavorable 10 Sugar. as annexation
would allow Hawaiian refined sugar to
come in free The Industrial list gene
rally has been heavy during the week.
A feature Of the week has been large
buving for investment account Of gilt
edged stocks. To-day's bank statement
indicates that the expected replenishment
of the money market has been accom-
plishod, and the significant weakening OF
foreign exchange indicates that the sea-
sorable outgo OF gold is likely not TO
occur. on account Of the heavy trade
balance I'm our favor. The item Of loan
EXPANSIONS does not indicate a very ac-
tive demand for money, but in the last
few davs offerings of commercial paper
were reported 10 be in large volume
| Bidding for choice grades has also been
sufficiently active to effect lowering OF
rates.
The market for railway bonds has been
very active all week, and record prices
have been reached for many high-grade
issues. Inc ISSUES VI Allt Clii'A 4 ''N+''~
groun have been conspicuous and strong
showing advances ranging up TO six
points. Seattle. Lake Shore and Eastern
i'st. trust receipts. rose at one time %
per cent. but lost a part of the gain.
Total sales,Q $23, 100000.
United States 2's, and the old As
coupon. are II higher, bid, and the new
AS is higher (ex-interest for the regis
tered.
The total sales Of stocks to-day were
27750O shares. including Chicago, Burhng-
ton and Quincy. 1880; Manhattan l.,
% $40. Missouri Pacific, 5,42O; New YORK
Central. 141G7: Northern Pacific, 7103; do.
preferred. 1286O; Rock Island. $3.50; st.
paul II 7GO; Union Pacific, 1880; chicago
Great Western, 5,6G7; Chicago Gas, $3.50
Sugar. 5f.12o.
MONEY AND EXCHANGE.
Money on call steady at per cent;
nrime mercantile paper, 344 per cent.
Sterling exchange heavy, with actual
business in bankers bills at A.S3 > Tor
demand and SiS2 l-2qA.2 "a for sixty
davs. posted rates, SL80$i& IL and
StS5 1-2GSf.SG; commercial bills, $lS2.
silver certificates, 81 1-205S -; bar sill
,.er n rs. Mexican dollars, 49,
state bonds dull. Railroad bonds steady.
Government bonds steady.
NEW YORK STOCK QUOTATIONS.
f~tos,n- Stocks