Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-09-22
STOCKS RECOVER.
THEIR STRENGTH, HOWEVER,
LARGELY CONFINED TO SPOTS.
BEAR TURN In SUGAR ENDED.
Further arrangements of Gold for
Import-Cotton OIL and Other spe-
vances-wheat strong mt Opening.

NEW YORK, September H.-The course
of Sugar to-day indicated that the long
bear turn in that stock has come to an
END for the present. Dealings in this
stock continued to absorb an important
proportion Of the total transactions. Eff
forts to hold the money rate proved I'M
ayailing, In view OF the disparity be-
tween the New York call money rate and
other markets, and call loans on the
board fell to 2 per cent. to-day. AS a
result Of rallies from these reactionary
tendencies the market was strong, and
recovered quite generally from yester-
days decline, but the strength was con-
fined largely to spots. and the market is
still In the hands Of professionals, and
reflects no outside interest.
There was still some apprehension that
the rally in Sugar might simply be the
result Of manipulation directed against
large bear account. The sudden plenti-
tude Of money was also looked at some
what askance, and with some the fear
remains that a further furry in call
money might be probable. The fact that
money has been easy TO obtain for sevei
raj DAYS in almost all markets, but not
on the Stock Exchange, encourages this
feeling, but the call money market was
unable 10 withstand the influence OF the
various agencies which have been al
work for it's relief.
The Sub-Treasury had another heavy
debit balance of nearly 100000 at the
Clearing House to-day, rejecting In part
- oh he for 40 N.
ticipatory payment of the October Isl
| interest on government bonds.
GOLD FOR IMPORT.
There were further engagements of GOLD
| in London for import, resulting in 9
sharp rise of IL per cent. TO per cent. IL
| the money rate and Of 3-Su1-2 per cent. II
| the discount rate in that market. The
stiffening Of the London money rate bego
dulness in the stock market there, tbs
| heayiness extending TO the American
eroup and resulting in some selling fol
London account here. But, except in on'
or two instances. this selling was withou
| much effect The Coalers, Cotton Oil
| Rubber. New York Air-Brake, and some
other specialties showed conspicuous ad
vances.
In the railroad list, outside of Northern
Pacific. dealings were not large, but prices
1
| I'm a number of cases advanced 10 pom
net The last prices were the best, ant
the market was strong and most actiV'
at the close.
! The prices Of bonds recovered In tn
late dealings, from an early tendency 10
ward decline. Total sales, N,6lO,cV.
United States SIS declined Ia, and tn
as when issued, Is In the bid price.
The total sales of stocks to-day wer
ss5 100 shares. including 1928 Chicago
Burlington and Quincy; 23,6S5 Manhattan
| Il "a Northern Pacific; 6,O62 do. preferred
86l0 Union Pacific; 1870 st. PAU; lo,lf
American Cotton Oil; 1860 American To
bacco: 700 Peoples Gas; 1870 Genera
Electric: 1O3, 622 Sugar. and 1926 Leathe
preferred.
MONEY AND EXCHANGE.
Money on call easier at 2q5 per cent.
last loan at per cent; prime mercahul
paper, 4a5 per cent
! Sterling exchange weak, with aqua
business in bankers bills at &S 81 10
| demand and at s4a i-24$iSl 81 for SKI
DAYS; posted rates, $i.@ l-2q$4.S ana St'0'
commercial bills, $3.50 LA $ta.
silver certificates, 81 1-24Oz; bar siiVel
81 5-ts. Mexican dollars. II 1-2.
c,overnment bonds weak; State bond
dun: railroad bonds firm.
NEW YORK STOCK QUOTATIONS..