Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-03-16

wALL-sTREET OUTLOOK, HOW
EVER, LESS APPREHExsIvE.
HONEY on CALL STEADY.
sterling Exchange weak-Bona
Prices Ease On-Wheat Very Weak.
Corn and Oats Dftto-Proyisions
NEUTRALITY-SUSPICIOUS. stendy.


| NEW YORK, March i5.-The movement
Of stock prices to-day was very puzzling
| Decidedly lower quotations for Americans
| In London caused an unsettled tone at
the opening. Prices partly responded to
| the London initiative, but did not fall
fully to the London parity. A furious
| buying movement quickly developed,
which lifted the level of the whole market
strongly above last nights closing. The
| buying was most conspicuous in the local
| and industrial specialties, but there was
| no lack Of strength in the railway list,
either, the demand for the Changers be-
ing especially heavy. Heavy realizing met
the advance and wiped out a large part
Of Il before the first hour had expired.
This was the most active period of the
days trading. There then ensued a slow
and laborIous recovery, which developed
highed prices than the first squirt, and yet
this second advance was also wiped out
I'm practically all cases, except some of
the Speciaties, and the day shows net
losses In most Of the standard stocks, ex-
tending to a point or over in some cases.
Wall street opinion Of the outlook was
on the surface less apprehensve The
movement of Spanish As in London and
Paris, which partly recovered after an
early decline reflected the growth of a
similar opinion there, but this was prob
ably derived in part from the strength of
the New York market yesterday and this
morning. London sold freely here on the
morning advance. and there was heavy
realizing besides, attributed to very
powerful local market interests. The cha
racter of this realizing suggested that the
advance might have been manipulated.
The early advance was materially help
ed by the aggressive strength of the local
traction stocks on account of the behalf
In antagonism TO rapid transit plans in
influential quarters Metropolitan Street
Railway was at one time up points
and Manhattan IA. A number of the in
dustrial stocks also rose over points
and a number of the railroad stocks at
one time showed net advances of over a
point.
The prices OF foreign exchange moved
to lower level to-day, In spite OF addi-
tional engagements OF gold for import.
Actual rates for demand sterling de-
cline IA, and the actual rate for sixty
day bills. as we'll as the posted rates for
both long and short sterling, fell 1-2 cent.
Besides the engagements Of gold for i'm
port from Europe to New York, ship
ment of 100000 was announced from
Australia to San Francisco. There was
no easing of the money rate, however, in
response to these movements.
The bond market was strong up TO the
closing hour. when prices eased of in
sympathy with stocks. Total sales, g.
1870. O00
United States new As advanced 11-2.
the SIS 1-2, and the old As, registered, IA
bid.
The total sales Of stocks were AIS, 100
shares, including Atchison preferred. T.
PCS; Chicago. Burlington and Quincy, 49,
773; Louisville and Nashville 1910; Man.
haitian L. $3.50; Metropolitan Traction.
9613; Missouri, Kansas and Texas pre-
ferred, $500; New York Central, ex-divi- |
dend, 100; Northern Pacific preferred T.
O20; do, preferred. 1870; Rock Island, 49, |
$50; st. Paul 62.75O; Union Pacific, 60O |
American Tobacco. 1895: Peoples Gas, |
10, go; General Electric, $40; Sugar, ex-
dividend, 1850.
MONEY AND EXCHANGE.
Money on call steady at 2a2 IL per |
cent; last loan at per cent. prime mer-
camille paper Las IL per cent.
Sterling exchange weak, with actual |
business in bankers bills at si.8qS4.SS La |
aSS ga for demand, and $3.50 1-4a$i. 50 1-2 |
for sixty days; posted rates. stS1 1-2as4S3 |
and $4S4 l-2d$45 IL; commercial bills,
$3.50 1-4QAs01-2.
Silver certificates, 55G55 81. Bar silver,
IS Is. Mexican dollars, As.
Governpent bonds strong. State bonds
dull. Railroad bonds strong.
FOREIGN STOCK MARKETS.
The Evening Posts London financial
cablegram says: In spite of Lord Sails
bury's illness, the stock markets here |
opened better to-day, in the absence of
further disturbing news, but on news of |
heavy selling of Spanish and other stocks
from Paris all the markets slumped.
Americans at one time were very fiat.
There was no support from arbitrage !
houses. and prices here were below the
New York level Then two big New York
houses turned round and bought; prices /
rallied. and simultaneously Paris stopped
selling. with the result that the bears
FASTENED to scramble in, causing prices in
all the markets to close lower. Spanish
bonds we're 80 TO 50 "a. closing at SO.
Grand Trunk was better, in sympathy
with Americans, and South Americans
were better.
In spite of the heavy premium on gold
by the Bank Of France. / UNI
derstand that shipments from Paris 10
New York still pay. There is an impress
sion in good quarters that the Bank of
may raise the price Of eagles on
an, further considerable Withdrawals.
The London money market is 3l-4. and
the Bank of England mo-
,ono,izes the discount business.
NHw YORK STOCK QUOTATIONS.
Closing stocks.
A tonis,s ropeks aud SANTA re .''.. -
At;n son. preferred .............. ....'' Idss
conaDa "a IA -. ........ Sl%
1ans6a sontnera' :47n
Central racine ........s.'... .'''''''' ''
Chesapeake aud Oaio... ........'.''' $685. .SB |
$500 Hnrnngtonand uuncy....... ISpas
-, " eo' - Eostarn Illinois, ...... %
C. O.. G.. ani ~. LOUISE. ...........''. stIs
1a,.,...e and iiuJson, l09L6
Delaware. LacKawanna aud Western 80. lou
i,envsrana Rio t;rande, prsferrod ....... 43sl
kfIe (newl.. ..-.-..-.-.....-...... ---'-'''" 80