Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-11-22

STRONG UPWARD MOVEMENT
CHECKED By PARIS NEWS.
PRICES MELT AWAY FAST.
supporting Orders, However, stop
the Decline-Wheat Market Closes
with Snap, ON Paris Report-May
and December Both Higher.

NEW YORK, November 2.-The up
market was at full tide to-day. when the
afternoon special newspaper editions
brought the Paris bulletin of the Asso-
ciated Press, announcing that the presl-
dent of the Spanish Peace Commission
had declined to proceed with the nego-
tiations, after the presentation OF the
United States commissions final terms.
The professional room-traders turned sell
ers Immediately, and the large buying
orders which were being executed all
around the room were apparently with
drawn. Prices melted away rapidly in
this condition of affairs. until declines
had reached nearly a point in many
cases. Supporting orders were then placed
in many Of the leading stocks, and the
decline was checked.
There was no apparent disposition to
continue the buying movement, however.
and for n time during the last hour the
market fell into almost entire neglect.
This condition OF affairs invited renewed
short selling, and the drift was slowly
downward to the close. The net result is
that many stocks which were not con-
spicuously strong in the early dealings
closed lower than OF Saturday. while the
notable advances in the leaders are much
reduced.
MONEY UNEASTNESS SUBSIDIES.
Uneasness over the stringent condition
of money in Berlin, and the approaching
apparently subsidized. The Northwestern
railway stocks were relieved from pres
sure. and the threatened rupture between
Northern Pacific and oregon Navigation
fell into the background.
There was a very large and well-dls-
tributed demand for bonds, and some
sharp advances in prices were we'll main
tanned at the close, in spite of the weak
ness in stocks Total sales. $4,000.
United States 3s Tegular) and the 5s
Coupon advanced IL, and the 2's and
the S's (coupon), the old and new As
(reglstered) and the as GegistereD, is
in the bid price.
The total sales OF stocks were 572,1OC
shares, including 4S 800 Atchison, IS, $50 At
Gibson (preferred $50 Baltimore and
Ohio; 1866 Chicago. Burlington and Quin-
cey; COCO Delaware and Hudson, son
Denver and Ri0 Grdnde tpreIelTeu), l3'ulJ
Louisville and Nashville, 22,3SO Manhat-
tan. 6.255 Metropolitan. 1870 Northern
| Pacific. 6,223 Northern Pacific (preferred)
| 1866 Northwest Terminal, 5000 Union Pa
| cifc. 1850 st. Paul, LOO Southern Rail
way Greferred $500 Texas and Pacific
| l3.745 Union Pacific (preferred. B42
American Tobacco. $3.50 Federal Steel
| u .76S Federal steel (preferred), 1903 PEG
! pies Gas II, 400 Chicago Great Western
and 1880 Sugar.
MONEY AND EXCHANGE.
Money on call steady at 2@2 IL per cent.
| last loan at 2 IL per cent. prime mercan
| tile paper 31-2G4 10 per cent.
| Sterling exchange steady, with actua
business I'm bankers bills at AS La
siS5 ~ for demand. and sl.S2 1-44AS2 /
for sixty days; posted rates SiS34$iS IL
commercial bills. $LaGs4.S l-2.
Silver certificates, 60 1-2a5l IL. Ba
silver. GO IS. Mexican dollars. A Is
Government bonds strong. state bond
| inactive. Railroad bonds strong.