Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-01-06
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT DUsI-
NESS CENTRES OF THE WORLD.
Prices OF Money, Bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce, &C., Foreign
and Domestic.
and Domestic.

NEW YORK, January 5-The stock
market got away from the bears in the
later dealings to-day, and closed buoyant
and very active, i'm part because of the
rush of shorts to cover. Some of the
Specialties were strong throughout the
day, but there was a period in the early
session when the reactlonsts seemed to
have gained control. some of the south
ern and southwestern stocks being sold
down a point or over. The bears also
attempted 10 utilize the Introduction
at Albany of bills directed against COM
binations of capital, but the effect Of
these bills was confined to Consolidated
Gas, which fell over a point. Some heavi-
ness was early manifest also among other
prominent railway stocks, which may
have been due to sympathy with the de-
preston Of the same stocks In London,
and ON European exchanges.
The forced covering of shorts and the
later buoyancy of the market brought
the extreme advances In some of the
most prominent stocks 10 nearly two
points or over, and net gains of a point
or over are very frequent throughout the
list. There was a growing feeling also
pointing to poor returns on account Of
the low rates and rate-cutting were not
fully warranted, and were designed to
influence public opinion and the action
Of Congress. The days reports of rail-
way earnings came TO reinforce this view.
ST. Paurs earnings for the last week of
the year were second only TO those Of
1892 for the corresponding period. Mis-
souri, Pacific shows an increase in gross
q -. l.. IN. al.a.r
of $4,000, Chesapeake and Ohio one of
$9S, 6i5. and Kansas and Texas one OF
S56,6O7.
The detailed statement for october OF
the Cleveland, Lorraine and Wheeling
started active buying Of that stock in
the final hour. which carried the price up
to 10 ga, compared with recent bids of -.
Finally, the Union Pacific Reorganiza-
ton Committee presented its check to
the Assistant Treasurer to-day for s.
5SS 4Ol, which is the final payment on ac-
count of the Union Pacific sale. The con-
summation of this operation, which has
been a disturbing factor in the money
market for over a month, and the absence
of furry on account of 1t in the
money market to-day, were viewed with
relief by wall street. The future ease
of the money market now seems assured,
so far as government operations are con-
cerned.
The encouraging combination Of cir
cumstances served TO put an end TO the
bear campaign to-day, and turned the
tide in favor Of the bulls. though the
days business was still largely confined
to the professional trading element.
The bond market took on increased ac-
tivity and strength. in sympathy with
stocks. and prices were generally higher.
Total sales. 81. ia. GOO. United States new
As were IL higher bid; the SIS, registered,
3-S higher. and the old As. registered,
and the SIS, coupon, Is higher
The total sales Of stocks were 2S,1D
shares. including Chicago, Burlington and
Quincy. Isle; Lake Shore. 7.lO5; Louisville
and Nashville. 1890; Missouri Pacific.
Q so. Northern Pacific preferred, 6,S5;
Rock island. 1910; st: Paul. 20,430; Union
Pacific $3.50; american Tobacco, SSH;
Peoples Gas. 14.1&; Consolidated Gas,
!, SIS; Sugar. 1855.
MONEY AND EXCHANGE.
Money on call firm at 3dS IL per cent;
last loan at 31-2 per cent; closing offered
at 3G31-2 per cent; prime mercantile
paper 31-2Q4 per cent.
Sterling exchange firm. with actual bus
mess i'm bankers bills at ASaSi.s5 Is
for demand and $4s2 5-SdS4S2 81 for sixty
davs: posted rates. s4.s3 1-24S4.S6; COM
mercia bills. S4.d IL.
Silver certificates. Sc 3-4d5S Bar silver
5s 5-S Mexican dollars, 45 IL.
Government bonds strong. state ponds
dull. Railroad bonds hrm'