Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-12-28
STOCKS ARE STRONG.
PRICES ARE HIGHER AND BUSINESS
Is WELL DISTRIBUTED.
TONE CONFIDENT THROUGHOUT.
I'm Railroad Quota
lions from 1 to z Points Generally,
tfes-Grain and Provisions Boom.
lions from 1 to z T.

| NEW YORK, December 27.-Stocks were
strong and higher to-day, with business
well distributed The Improvement in
railroad quotations was from TO points
generally, and even greater In the spe-
| clalties. Shifting OF speculative accounts
and profit-taking were at times RESPONSE
BILE for fluctuations downward, but the
tone throughout was confident. Among
the many reasons 10 account for this were
favorable traffic statements for the third
week in December. especially in the case
Of ST. Paul, where the gross increase was
over N75.oO0. Saturdays good bank state
ment and continued ease In the money
market. moreover, and the advance In
Americans In London, had a stimulating
effect, although later there was mode
rate selling from that quarter IN advance
here. There was a continuation OF the
tendency 10 discount January dividend
disbursements, larger proportion OF
which will remain In this country than
heretofore, because OF the absorption or
large blocks OF internationals formerly
owned abroad. The Changers were more
largely traded In than Of late, at ad-
vancing prices, Rock Island making an
extreme advance Of points, ST. Paul one
Of Is. Burlington one Of ~, and the others
advances Of a point each.
Orders 10 buy. accumulated over the
holidays, caused a wide opening I'm Amer-
can stocks. American Steel and Wire
stocks rose about points each' and re-
tanned the greater part Of the advance.
Federal steel also. both common and pre-
ferred, was up over points, and eased
off somewhat. Peoples Gas and Brooklyn
Rapid Transit were very strong, the lat
ter on the theory that there would be an
announcement in January Of the CONSOLE
dalton Of competing lines
SUGAR LOSES.
Sugar Refining was an exception 10 the
general rule, because Of the report OF com
plicatons in the trade, due TO sales direct
TO the retailers by the independent com
panies and a reduction In the price OF
the refined article. The stock lost about
points at the opening, rallied slightly,
and closed little above the lowest.
Several of the Speclalties displayed
strength, especially Leather preferred and
Lead. other stocks whose advances at
tracted attention were Norfolk and
Western, Pittsburg Cincinnati, Chicago
and ST. Louis. the Pacifcs. Metropolitan
Street Railway and Bay State Gas.
The closing was strong, slightly uhder
the best, aggregating transactions OF near
ly a million. and establishing the largest
total for the year.
BONDS TEND UPWARDS.
The bond market tended strongly up
ward, the enquiry embracing marked
variety Of issues at substantial improve
mentS. Inc lOldI SAFES were S0fAVfVJv'
United States 3's advanced u and the rs
Is in the bid price. 100.
The total sales of stocks were 95l 3oO
shares. including 1900 Atchison: $3.50
Denver. preferred; 1920 Burlington. 1880
Denver and Rio Grande. preferred; 10l0O
Louisville and Nashville $500 Metropoli-
tan Street Railway; 1000 Minnesota and
St. Louis: $500 Missouri. Kansas and
Texas; 1920 Northern Pacific; 1l.O2O do.
preferred 5000 Rock Island; 1000 Union
Pacific: 80, go St Paul; 1900 Texas and
Pacific; 25,020 Union Pacific, preferred;
Z. 2S5 International Paper; s2.050 Bay State
Gas 5000 Federal Steel; 1920 do, pre-
ferred: 25.O2O Peoples Gas: $40 Colorado
Fuel and Iron, 927o Lead; 1920 Pacific
Mail: 2692O Sugar; 1890 United States
Leather; $4,000 do, preferred; 5,4OO United
States Rubber.
MONEY AND EXCHANGE.
Money on call steady az 'i.H2l2: last
loan al Pa per cent; prime mercantile pa
per. 3Q3i2 per cent.
Sterling exchange dull and easier, with
actual business I'm bankers bills at ASp4Q
q. $40 for demand and siS&gAS2 for sixty
days; posted rates. SiS2ls and A-&l2;
bills $iS1.
Silver certificates 59i6d6ola; bar silver,
57h: Mexican dollars. 46ss.
Government bonds frmer; State bonds
strong; railroad bonds strong.
~ENx- Nnntx CTOCI< OTOTATIGNs