The times. [volume] (Richmond, Va.) 1890-1903, 1898-09-17
STOCK MARKET
WAS VARIABLE.
The Activity Of the Early Hours Was
Succeeded by Dizziness.
BOND PRICES WERE HELD FIRM.
The Apprehension Of a Crisis in the
Money Market Is About over,
London Was a Seller In Closing
Hours of the Market.

NEW YORK. Sept. 16-Thcrc was re-
crudcsccncc OF fears OF a squeeze IN the
money market to-day. This had the eI-
feet OF bringing the morning advance IN
the prices OF stocks 20 stand-stili Inc
dullness that followed invited operations
by the bears. They ceniorcd their at
tacks on Sugar, which was but ietply
supported at any time during the DAY,
though there were one or two sharp
rallies on covering Of shorts. they Ell
lccted an extreme decline OF 4H0 points
IN this stock. and worked reaction IN
the whole list, earlier advances beng en-
troly wiped out with "A few exceptions
The decline did not bring any very heavy
offerings asd was effected on light trans
actions for most stocks. There was piout
taking by room traders, but no reauinp-
ton OF tho urgent liquidation which was
characteristic Of the marekt carrier IN lle
week. Active support was Withdrawn
however, and manipulation 70 advance
prices was abandoned for the time beng.
The earlier part OF the day saw very
active market and some sharp advances
tho Pacihcs and the iudustrials MAINTAIN
inG their leadership Tobacco maze
new high record at 152L The grmgers
were in good demand but there was no
apparent effort 90 advance prices. Incfe
was "A slightly higher range Tor call loans
az the board to-day, but the apprehension
OF stock operators was rather OF the
sentimental ofect OF a probable further
decline fra surplus reserve, which would
be shown by tO-r1OrrOWs bank STATE
ment than Of inability 60 get money Tor
use The decline in the surplus rs partly
due 20 the fact that last weeks state
ment was based on falling averages, so
that weeks operations viii bee partly re-
nected in tO-mOrrOWs statement. II ls
not expected that the statement VIII snow
much surplus reserve left. I'm spite OF the
large deposits OF Government lunds
which have been made with New y ofk
banks during the week. outside banks
show a disposition 20 send money here 10
~. nd
chase OF mercantile paper. moreover,
about 81 10000 additional in gold was
engaged In London to-day Tor import
so that no further serious Crisis li exc
pectcd I'm the money market London
bought stocks her this morning but turn
ga seller after prices had advanced ANA
the engagements Of gold for import had
The bond market was active and prices
were quite firmly held. Total sales.
S2,7sO.OOO. United States as. both oid
and new and the IS advanced % in inc
bid price to-day. Demand for the 3
was much curiailed. and the price ruled
Tho total sales OF stocks were 400
shares. Including Atchison preferred
1850: Baltimore and Ohio. l0HJ5, CHI
caro. Burlington and Quincy. 1f.3sl;
Louisville and Nashville. '.oJV: Northern
Pacific a. 800. do. preferred. ll.GN. ROCK
Island. 0.I1t. Union Pacific il.l3li 81
Paul. 81 90. Union Pacific preferred. fi,-
10e. American Tobacco. 3J0o3, People
GAS $40 Sugar. 90 SOS, United States
Rubber. lo.3O3.
MONEY AND EXCHANGE Money on
eau firm at aitu4ia per cent. last loan
af ii1 per cent Prime mercantile paper,
4n5 per cent Sterling exchange weak,
with actual business in bankers dis Ht
81 S3ailff 80 f0r demand and at 81 elHH
So for sixty days. posted rates. f4Nju
a s.p. and ASIu4 ~'i.. commercial DIS,
SlSf1ft Silver certificates. Oiluil,
har silver. Ge,. Mexican dollars, 41ls.
Government bonds strong
BANK CLEARlNGS-Th total bank
rlrarinpe I'm the United States for the
week were 1880. Go3 DOS, per cent. de-
crease. 80 Exclusive of New York, $751;
gTg DOS. per cent. decrease, J.3.