Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-04-24
STOCKS A BIT HIGHER
MARKET DISCOVNTiNG "PEACE,- IN
TIE BROKERS' LANGUAGE.
FEELING As TO The WAR.
An Idea That IL Isn't Likely to he
Protracted--S Bulge In Wheat
Weak.
Weak.

NEW YORK. April 23.-To-day the stock
market was discounting peace" in the
language Of the brokers. This was done
by lifting prices a notch higher. There
was reported an active demand for Sc
curities I'm London. but the buying here
for London account was not as large as
prices here ruled above the London parity.
There were periods of inactivity. but thu
publication Of the bank statement caused
renewed buying, and lifted prices to the
highest. They were shaded off By war
apprehensions. The general feeling in
financial circles is that the war is not
likely to be protracted. and that only
some unexpected accident can prevent
Spain's speedy succumbing 10 superior
force. Demand sterling rose to Isl.
The week closes with n great part or
the extreme losses in price recovered the
net declines not exceeding = points in any
Of the prominent stocks. II is noteworthy
that the lowest prices of the week were
not as low except in a few cases. as
those on March 18th. which marked the
lowest point in the decline after the
Maine disaster.
To-day's bank statement shows the SUR
plus reserve to have increased to 1889 Joe,
and for the first time since war threatened
the weeks increase is due 10 an actual
increase I'm cash rather than to the lessen
Cd reserve requirements, through draw
ing down deposits. That IS to say, the
demand for cash from the interior to
fortify reserves there has almost ceased.
GOLD MOVEMENT.
or the total of nearly SfOO004,0 in gold
ordered from Europe. over SlTW1JF re-
mains "a be accounted for. the bank state
ment being I'm transit, or received after
to-day's statement had been completed.
In view Of these conditions 1t IS not
strange that the movement OF gold TO
New York has come 10 a stop. no foreign
engagements having been announced Tor
two days.
The prices Of bonds during the week
did not move so widely as those of stocks.
either i'm the early downward move
mcut or I'm the later recovery. Iransac-
tons were small for the week.
Net declines I'm government bonds TOR
the week I'm the bid price are If in the
new rs. registered; / "a i'm the new as,
coupon: ! - for the old IS; - for the
SIS. coupon. and If for the SIS. registered.
The total sales Of stocks to-day We're
123 i0I shares. including Chicago. Burling-
ton and Quincy. l20is. 81. Paul. u.h5;
Union Pacific. preferred. llloV; American
Tobacco. 1880; Sugar. 2slb.
MONEY AND EXCHANGE.
Money on cali nominally at per cent;
prime mercantile paper. 6l-20' per cent.
Sterling exchange firm. with actual
business in bankers bills ot AA Tor de-
mand and $3.50 for sixty days; posted
rates. 1851 and $l.A II; commercial bills,
$L7gnS419 Ia.
Silver certificates - l-2HJ5 II. Bar sill
YER. s. IS. Mexican dollars, %.
state bonds duh. Railroad bonds irregu-
lar. Government bonds weak New As.
registered. llG IA.
FOREIGN STOCK MARKET.
The Evening Posts London financial
cable saws: There was n general recovery
ln the stock market here to-day, led by
suanish is and Americans. The Paris
toure. was also much better, except IN
Brazils and Portuguese securities WHICH
were sold heavily.
Americans closed under the best. on the
reported capture Of the Paris, when re-
mort IS not believed at Lloyds.
New York IS said TO have stopped buy
ing gold. for the moment. but II ls not
believed that the American demand Is
wholly over yet.
Money is plentiful here. because brokers
abstain from investing freely in bills.