Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-09-27
STOCKS UNSETTLED.
THE MARKET CLOSES WITH SLIGHT
LOSSES GENERALLY.
4 SERIOUS SLuHp IN TOBACCO.
The stock, in the FinnI Dealings,
Touches 13o-CaIl Money Rates STIFF
fen sharplx-Wheat Stronghold
visions Higher.

NEW YORK, September 26.-The action
of to-day's market at the opening was
disappointing to the bulls, lsd stocks pur-
chased Saturday on the favorable bank.
statement were speedily Yet 90 and COM
mitments made for the short account
The higher range OF London prices en-
couraged the bulls. and efforts were made
TO advance prices 10 a parity with the
London figures. Stop-loss orders were un-
covered In the leaders, and the market for
q time was at the mercy of the dealers,
who searched diligently for weak spots.
Gossip that disagreement existed between
some of the speculative pools was colored
TO some extent by the severity of the
break in spots. Prices for Tobacco. Peo-
ple's Gas, and Brooklyn Transit melted
rapidly away, but Sugar. after dip
downward of a point, encountered sup
porting orders, and ruled above Saturdays
close for the remainder of the day.
The railways meanwhile fell sympatheti-
cally. but the losses were confined to
fractions, and after the first rush TO sell
had abated, settled down to a level
slightly above the lowest, and resisted
subsequent efforts at depression. The
frmness was accounted for by the publ
cation Of numerous traffic statements
covering q wide area of territory and
showing substantial increases. The gains
in some of the southern lines werefespe-
claly gratifying In view OF the slow
movement of cotton, and the quarantine
regulations in some sections. These con-
dItions were responsible for the marked
w
group. Arbitrage houses had purchasing
orders but the action of the market dis
couraged any extensive ventures. and
only a light sprinkling Of various stocks
was taken.
YOM KIPPUR.
The elimination of an active speculative
interest in the market, owing to the rigid
observance Of Yom Kippur, The Hebrew
holiday, reduced business considerably,
and n raid on Tobacco also chilled the
outside demand. The decline In Tobacco
was attributed principally 10 Genial by
officials Of the Drummond Tobacco Com
many that that concern had been absorb
ed bv the American Tobacco Company.
The bears attacked the stock with con-
siderable confidence, and drove IT down
S1-S Considerable amounts or the STOCK
were liquidated. and the apparent will
lingness OF the insiders to see the prices
lower invited extensive selling by the
shorts. In the last hour the stock moved
inward in sympathy with .he general
market. closing at al is. Sugar moved
nm and the railways, which had moved
independent Of Tobacco throughout the
dav. ruled the best In the final dealings,
Tobacco slumped badly. touching l3s.
The other industrials also suffered from
realizations. but no appreciate declines
were recorded in the standard stocks. The
market left off unsettled, with slight
losses generally.
MONEY RATES STIFFEN.
Call money rates stiffened sharply late
IN the day. The great bulk Of the trans
actions. however, were made at 3 IA per
cont and some accommodations were Sc
cured early in the day at per cent.
The bond market lacked decisive tone.
but dealings were light, and variations in
either direction unlmportant. Total saies'
Government bonds were unchanged on
bid prices. 80. coo
Including GIN Atchison preferred, 6U5
chicago Burlington and Quincy, l5II5
Northern Pacific, 1888 Union Pacific. $500
81. paul. 1929 Union Pacific preferred, 1865
Chicago Great Western. 1885 People $
Gas. 9,1O4 United States Rubber, and 1890
Sugar.
MONEY AND EXCHANGE.
Money on CALL steady at gao per cent;
last loan, l-2 per cent; prime mercah-
tile paper, 4a5 per cent.
Sterling exchange hrm, with actnai Dus-
mess in bankers bills at A-s44$i'si ~ LOT
dar,and and at S4s1 1-40S4.a IL for sixty
DAYS. poated rates, s4.s2 1-2 and s4.s3; COM
mercial bills $3.50 l-iQsi.so ga
silver certificates, 6lQ62. Bar silver,
60 I5-le. Mexican dollars, Al Ia
Government bonds steady State bonds
firm. Railroad bonds irregular.
NEW YORK STOCK QUOTATIONS.