Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-22
QUOTATIONS.
REPORTS FROM ALL GREAT BUsI-
NESS CENTRES OF THE WORLD.
Prices OF Money, bonds, stocks,
Grain. Tobncco, Cotton, Cattle,
country Produce, &c, Foreign
and Domestic.

NEW YORK, February H.-To-days
heavy decline in the stock market was
made without any actual new develop
ments i'm the situation. but was rather
to be attributed to a combination Of i'm
pressions which have been the unoerly-
ing force in speculation for a week or
more. To-day's market demonstrated one
thing, and that is that last weeks de-
clines would have been much heavier.
on developments in the Cuban question.
had 1t not been for the support of power
ful interests, which desired an option,
to realize. The entire absence Of support
to-day gave color to the supposition that
those interests had completed their IL
quotation, and were Indifferent TO the
present course of the market.
The motive assigned for the selling had
less apparent basis in fact than was fur
nishec by the events of last week. so
far as they turned on the Cuban ques-
tions, they dealt with speculations on
possible future events, and on abstruse
points of international law, without any
convincing authority to back them.
app fAtilaibnS SlDNlllE out OF the rate
war for passenger business between the
Canadian Pacific and our own trans
continental lines had a more substantial
basis, though a smoothing suggestion
was offered that the profits and dividends
were not largely dependent upon passen-
ger business. anyhow. The great snow
storm I'm the West was also a factor Of
real Importance, both by reason Of inter-
ruption to railroad traffic and the posi-
tive damage done to crops.
Whatever the real motive, however it
was beyond dispute that there were large
offerings Of securities for which there
was no adequate demand. and selling
orders to stop losses were uncovered in
the descending scale Declines were so
great that prices that looked attractive
as bargains We're reached i'm many cases,
and the buying thus invited steadied
prices and worked some notable recover
les This process was repeated several
times during the day, ana the market
closed with one of the rallies in full
force. thus leaving the net declines de-
cidedly smaller than the excitement de-
clines during the DAY. Third Avenue
made an extraordinary rally of u points
in the final dealings, after an earlier loss
of S points.
The local and Industrial specialities
were the severest sufferers by the early
decline and the Changers were also
notably affected by reason of the storm. |
A feature of the day was the marking
up Of call loans to "a per cent, in ac-
cordance with the reduction in the surplus
reserve.
The local market paid no attention to |
the firmer tone on foreign exchange, due !!
to the subsistence of apprehension with |
which the West African situation was |
regarded with such acute misgiving on |
the local exchange Saturday. London was |
: buyer on balance on the New York |
market to-day.
The course of the bond market was |
strictly in accordance with that for |
stocks. I'm both declines and rallies. The |
loss at one time was from to per cent. |
in many leading bonds. Total sales,
Il 1000
United states As Of 1907 and Of 1925
were IA lower bid.
The total sales of stocks were 56,2OO
shares. including Atchison preferred,
ID 77e. Chicago Burlington and Quincy
q ZIG. Cleveland, Cincinnati, Chicago and
Il Iouis. 800: Louisville and Nashville,
2 OK. Manhattan l., 81. 230; Metropolitan
street Railway 9.7S5; Missouri Pacihc
, Se1 Missouri. Kansas and Texas prefer
red Z 264: New York Central 22'55O; North-
srn Pacific. 1890; do, preferred, A'4o'
Reading. $3.50; ROCK lsldhu' lS'V-o' ~
Paul IS. $40; Southern Railway preferred
zoo. lotion Pacific. 1895; American To-
COCO u 344: Peoples Gas, 1850; General
$50: Sugar, $3.50; United States
Gather preferred. 5000; Western Union
,,12O. r,~,c11A>,cr
Money on call easy at I'm
. . nor cent: last loan at 3-4 per cent;
,r rim mercantile paper, SQ4 per cent.
sterling exchange about STEADY n. WIN
ct',al business in bankers bills at
y 'ce ~ a o1,s4S51-2 for demand and 1880
7, 20 o. for sixty days; posted rates A.SO
,nd S4s6 -; commercial bills A%
'n l'i, 81 certiacates. IS 1886 70 Bar sill
,c 1", x rs. Mexican dollars As "a
'S Go,y 20 nm bonds weak. state bonds
mi Railroad bonds weak
NRw YORK STOCK QUOTATIONS; ocss
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