Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-01-01
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT BUsI-
MESS CENTRES OF THE WORLD.
Prices OF Money, Bonds. Stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce. &C., Foreign
n Domestic.
NEW YORK STOCK MARKET

NEW YORK. December 31.-To-day's
market for stocks was very dull. and net
changes for the most part are trivial,
and are divided amongst gains and
losses. without much semblance OF con-
sistency or order. The local traction Sc
curities were the favorites, and they
rose at one time sharply above last
nights level. under the belief that they
would benefit, even II the proposed rapid
transit project was consummated. Brook
lin rapid transit enjoyed a special adj
vantage from the reported decision, de-
nying an injunction against the use Of
the western bridge terminus for a loop.
This stock was a long ga above last
nights level, and held over a point OF
this gain. Sugar was also a strong fea-
ture, and rose at one time l -. but held
only a. fraction Of that amount.
The Vanderblts were traded IN extern
sively to-day. Lake Shore gaining a
point. other stocks which were notably
strong were Buffalo, Rochester and Pitts
burg preferred. which rose 23-4. and do,
common which gained 2 points. Ameri-
can EUllItN UTflfiifu dl-O kdAI'n = l'lnA's
There was considerable activity i'm the
Changers. with early strength. Buriing-
ton crossing par, but later recessions
carried prices below last nights level.
The news this morning from foreign
exchanges d~issipated all apprehension
| caused By yesterdays reports that the
British naval reserves had been ordered
out. British consols advanced a fraction
in London. an unfailing barometer Of a
peaceful outlook. The hrmness Of the
wheat market also relieved the uneasi-
ness in speculative circles over the out
come OF the great December deal.
The bank statement was regarded as
being so involved with the Union Pacific
operation as to offer no indication Of the
drift Of general conditions.
The somewhat contradictory irmness
Of money and hardness of foreign ex-
change continued to-day. though both
markets were very dull. The Sub-Trea-
sury had S1.44G.742 to pay at the clearing
house to-day. again rejecting the con-
tinuing replenishment Of the money mar
ket from that source.
The increase i'm the gross earnings OF
the Pennsylvania system for November
over last year was 81 ,is2. 100, and the in
crease i'm net was S759.30.
REVIEW OF THE WEEK.
The week has been one Of dulness on
the stock market. and on the part OF n
few specialties of a more highly specula-
tive character. almost apathy. Trading
has been IN the hands Of professional
room-traders. and outside interest in the
market has been insignificant.
Various causes have contributed to the
dulness. The holiday season has kept
many operators out Of the market. Deal
- .-r- - II - -
all businessmen Of closing up accounts
at the end of the year. as far as IS possl-
BILE. and Of taking account Of conditions
before entering upon new ventures.
There has been liquidation Of speculative
accounts during the week. i'm accordance
with this custom. the effect of which has
been especially manifest in the Special
ties recently favorites in the specula-
ton. Proht-taking in the stocks Of local
corporations caused some sharp recess
sions in values. but later developments
have resulted in recoveries.
The decisive factor in restricting specu-
lation. however. has been the stiffness Of
the rates for money, and the apprehen-
sion OF a squeeze at the end Of the year,
an apprehension that has grown less and
less as the week progressed.
The bond market during the week has
EiHltu III llt uAAli'Fa VI ~ W. Ah''
ket. but prices have been held firm, or
have improved. United States As. both
new and old issues. are ii lower bid,
and the SIS. Is lower.
The total sales OF stock to-day we're
15G. 7GO shares. including he following:
Chicago. Burlington and Quincy, 1O,i&;
Manhattan l.. 2S.555; Northern Pacific
preferred. 4.S37; Rock Island ex-divi-
dend. 3125: 81. Paul. 5000; American
Spirits preferred. 1906; Bay State Gas,
300; Sugar. 27,15j.
MONEY AND EXCHANGE.
Money on call firm at S1-20l per cent;
last loan at 1 per cent; closing offered
at 31-2d4 per cent: prime mercantile
paper. 31-2di3-i per cent.
Sterling exchange duh and easier, with
actual business in bankers bills Mt
s4Sf s-sG&lsf 81 for demand, and 1872 for
sixty days: posted rates. $LS2 1-2a$+s5.
ana slS 1-2dSi.S6; commercial bills, $i.Slp
$iA1 -.
silver certificates. 81 1-in581-A Bar sill
YER 571-l. Mexican dollars, 46 Ii
Government bonds Irregular. state
bonds duh. Railroad bonds strong.