Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-10-22
STOCKS IN DEMAND.
PARTICULARLY THE STOCKS OF
GRAIy-CARRYING RAILROADS.
TOBACCO ADVANCES THREE POINTS.
II Meets Heavy Sales, However, on
the Risc-Bond Market Broadens
nnd unprecedented sIumps-Pro-
visions Decline. ..-

NEW YORK, October 2l.-The motory
nerve Of the worlds markets was touch
ed to-day by the reported orders Of
France TO Major Marchand, at Fashoda.
There was a prompt recovery In govern
ment securities in London and Paris, and
I'm corporate stocks at all foreign markets
For the same reason there was a weak
ening in the wheat markets Of the world,
including Liverpool, New York Chicago,
and San Francisco. This checked yes
terdays advance in the stock market, but
when IL became evident later i'm the day
that there was good support in the wheat
market from a continued heavy demand
for export, in spite of the subsistence Ct
the war scare, and of continued heavy
receipts at primary points, there sprang
I'm a demand for railroad stocks, which
showed itself more confident and urgent
than anything that had been seen in the
stock market for several weeks. Natural
ly. the demand was most manifest
for the stocks Of grain-carrying roads.
The strength was manifest, however, not
only in the Granger group proper, but
also i'm the Pacifics, including Northern,
Union. and Atchison.
The dulness and heaviness Of the stocks
of the great eastern trunk-lines was in
strong contrast, although, according 10 a
quoted utterance OF the chairman of the
New York Central directors, many com
| panies cannot get cars enough 10 carry
| the freight coming forward, but are cut
| ting rates and making contracts ahead al
figures below the rate schedule. 1t Is IN
| line with this view 10 find the gross earn
| ings of the Central for the September SOtf
| quarter falling nearly 10000 below those
| for the corresponding quarter last year
| while the balance available for dividend
| IS ] $500 per cent. for the quarter, com
pared with l 70-lO0 per cent. last year.
The strength i'm western, southwestern
| and southern stocks was quite general
| Louisville leading the last-named grouI
| with an extreme rise OF point.
TOBACCO ADVANCES.
The movement of the Industrial spe
| cisIties was relatively much less import
ant than OF late Tobacco advanced al
| extreme three points, but met heav!
! salos. Sugar was raded below Ill, bu
met the resisting point, and Manhattan
although it weakened early on published
| utterances tending to discredit report
OF an electrical equipment, later rose owe
a point.
Sterling exchange duNdh'tN A"4 '".
dav in response 20 the stiffness OF TOT
eign money markets, which the cleaTln
az uresent prospects did not relieve IN
local money market continued easy.
| The bond market broadened ana I'm
nroved I'm the course of the day. and show
gains generally. Total sales, G,5iOW'
| United States rs, registered, advance
10 and the 9's. registered, declined Ia !
the bid price. a. o,
The total sales Of stocks were 40
shares. including 14,025 Atehison' ~,
CHICAGO. Burlington, and Quincy, I'iI
Manhattan. 5.5S8 Northern PACING, lofi
81 paul. 91u Union Pacific, 600 Uhlo
Pocidc, Denver and Gulf, 26,sS5 Tobacco
and 20 $40 Sugar.
MONEY AND EXCHANGE.
Money on call easier at 1-2a2 per cent
Iast loan at 81; prime mercantile pdpe
31-4af per cent. III. ootr
sterling exchange firm. with ac 81 /,
business I'm bankers bills at SLe'pShS
for demand. and at $4s2a$f.2 Ia LOT SIX
doys. nosted rates. si.3 and A.s9' con
Toerciai bills. $500 $3.50 81
silver certificates, 0oa6l. bar
COLI. Mexican dollars % 81 hon,
Government bonds nrmer: state O'"'
inactive Railroad bonds firm.
BANK CLEARINGS.
r,,, total hank clearings in the Univ
ctafes for the week were N'@Zl'ooo,o' y
cent increase, IL; exclusive Vi
| York. 1898 G3l, sos; per cent increase -'''