Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-12-08
STOCKS ARE STRONG.
SYMPATHY WITH LONDON, WHERE
AMERICANS ARE THE FEATURE.
NORFOLK And WESTERN PROMINENT
The Preferred Largely Purchased, oD
limitations of Diyidend-Rate In
creasc-Whcat and Provisions Low
cr-Conrxc Grains Close Higher.

NEW YORK, December 1.-THE stock
market to-day was strong throughout. ex-
cept for slight easing of about midday,
but toward the close developed aggressive
strength, and left of at generally higher
prices. AT the opening there was sym
pathetic strength with London. where
Americans were the feature, notably
Norfolk and Western preferred. which
was largely purchased on limitations
that the dividend rate might be increased.
Norfolk and Western preferred was con-
spicuous also in the local dealings. in
both activity and strength, on the COM
pany's supposed dividend prospect. There
seemed to be but little floating supply Of
this stock for the time being, and prices
advanced Ia.
on moderate purchases by London and
commission houses. standard stocks and
tho Internationals were firm the greater
part of the day. and advanced with the
rest of the list towards the close.
The high-priced specialtes, including
Tobacco. Sugar, and Peoples Gas, showed
a decided upward tendency. Metropolitan
Traction was erratc, but gained frac-
tionally. The Pacifics were less promi-
nent than of late. Cleveland. Columbus,
Cincinnati, and st. Louis, rejecting in
creased earnings. advanced moderately.
Consolidated Gas jumped points in the
late dealings, and impaired a good tone
to the rest of the list. The stock had
previously lost IL points
BITUAIINOUS COAL.
The recent prominence of the bitumi-
nous coal shares is largely attributable TO
current rumors about impending favor
able developments III the trade. The de-
mand for Norfolk and Western preferred
was to a considerable extent responsible
for the circulation of this report.
The bond market presented many new
features of interest to-day. Norfolk and
Western, consolidated As, came to the
front with an Improvement of two points,
on exceptionally heavy trading. Sales,
s5,50O00O. United States new as, regis
tered. and the IS coupon. advanced Ii,
and the new as, coupon; old AS, register
ed, and the IS, registered, is in the bid
price.
The total sales of stocks were 3i9 400
shares, including Atchison, preferred,
1925; Central Pacific, 9,5SS; Chesapeake
and Ohio. l2,0SO; Metropolitan. 1920; Union
Pacific. 6.71O; St. Paul, $3.50; Union Pacific,
preferred, 7,077; Southern Railway, pre-
ferred, 52OS; Wheeling and Lake Erie,
6.5i5; Tobacco, 1859; Bay State Gas,
II. 470: Pacific Mail, 1925; Sugar, 1909;
Rubber, 5,240: Western Union, 6C00; St.
Louis and Western. preferred, $3.50.
MONEY AND EXCHANGE.
Money on call steady at 21-4d2 IL per
cent, last loan at II: prime mercantile
paper, 31-4Q4 per cent.
Sterling exchange steady, with actual
business in bankers bills at Asa Lao
4S41-2 for demand and 4.S1 1-2d4a "a for
sixty days; posted rates, 4S2Q4S2 IL and
4.S 1-204.S6; commercial bills, $50 1-2.
Silver certificates. 50 1-2460 IL. Bar sill
yer. 50 lilo Mexican dollars, 46 5-S.
Government bonds strong. State bonds
inactive. Railroad bonds strong.