Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-25
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 2L-The slump
in the stock market this morning was
so sudden and violent that trading almost
took on panic conditions, but the ava
lanche of liquidation was practically over
i'm less than half an hour, and then there
were some quick recoveries. The dulness
and the recuperative tendency that fol-
| lowed showed that the determination to
let go at whatever sacrifice had been
quickly abandoned. and a late drive by
the bears found prices by no means so
unresisting as in the morning. The cover
ing of shorts worked a substantial rally
before the close.
The early slump ranged from 1 TO near
ly 5 points in the standard shares, and
from that up to an extreme decline Of II
points in Metropolitan Street Railway.
I'm the speclalties. Recoveries, though
sharp in some shares. were at no time
complete in any stock. The later tone
Of the market suggested that the early
break was at least encouraged byl ma
npulation. and the substantial character
of the buying at the extreme decline cor
roborated the view that there were wait
ing purchasers anxious TO secure stocks
at lower level of prices. But the fact
was obvious, nevertheless, that apprehen-
sion over the Cuban situation was more
acute than at any time heretofore.
London was also large buyer during
the day. its total purchases being esti-
mated at 1000 shares. or 10000 shares
in two days.
Government bonds were strkingly
weak. the declines I'm the bid price being
4 to ~ per cent.
Money was higher, call loans being
made at from 211nS per cent, and time
loans for sixty days were made at 4 per
cent, with quite an advance in demand.
The calling of loans released quite an
amount OF sterling exchange which was
held as collateral and the exchange
market broke sharply, demand sterling
being quoted at 81 of cent below yes
terday's price of 1884 5-S. This is near
the gold-import point. and suggests an
available source of relief for any threaten
ing stringency in the money market.
In the stock market. those securities
which suffered the heaviest declines,
notably the Changers with Burlington
leading and the international stocks.
with Union Pacific preferred, the most
acute sufferer. enjoyed sharp rallies, so
that the days net declines are brought
within range Of 1 TO points, outside
the Specialties.
The movement in the bond market was
in sympathy with that in stocks. declines
ranging between / and 2 points. Prices
closed somewhat above the lowest. Total
sales, Si,O250 900.
United States new As, coupon. fell IL
per cent. and sold at the bid price-l25 IL.
The registered bonds Of the same issue
fell IA but sold l per cent. above the
bid price at the asked price The old AS,
coupon. fell l per cent, bid; the SIS, "a,
and the old AS registered. IA bid.
The fetal sales of stocks were 7SS,4O0
shares. including Atchison $40; do, pre-
ferred 9110; Chesapeake and Ohio, 9,735;
Chicago, Burlington and Quincy, 42.4O5;
Louisville and Nashville, 2O.990; Manhat-
tan, 49, 42O; Metropolitan Traction, 1920;
Reading, Est preferred, Ibis; Missouri
Pacific. 1880; New Jersey Central,
661l: New York Central, 31.620;
Northern Pacific, 10 200; do. preferred
1920: Chicago and Northwestern, $40;
Rock Island. IS, 400; st. Paul. 6OS2O South
ern railway preferred.71l0; Union Pacific,
10 800; Wabash preferred, $3.50; American
Tobacco. 1890; Chicago Gas, lao; Con-
solidated Gas, $500; General Electric
$50: Sugar. Sc. $40; Western Union, 1882.
MONEY AND EXCHANGE.
Money on call firm at 21-2a2 81 per
cent; last loan at 2 l-2 per cent; prime
mercantile paper, 3G4 per cent.
Sterling exchange weak, with actual
business In bankers bills at SfA $50
StS3-4 for demand and A.S2 81 for sixty
DAYS. posted rates, S4.sS l-2uAa and
q Sass. S61-2; commercial bills, SAX
silver certificates. 1000 ounces at 90 ~
closed AT So 1-2G56 -; bar silver, 80 5-o;
Mexican dollars, 45 Ia.
Government bonds weak. State bonds
duu Railroad bonds weak.