The times. [volume] (Richmond, Va.) 1890-1903, 1898-09-30
MARKET RULED
BY INDUSTRIALS.
Ykey Dominated in Dealings to a
Considerable Extent.
A LEVER TO CARRY UP PRICES.
This Was Furnished by the Burling-
ton August Violent
Dips I'm Tobacco-Stock Gcner-
ally Showed Better Tone.

NEW YORK. Sept 20.-The Burlington
August statement furnished a lever to-day
20 carry prices upward. and this develop
mtnt was the only factor or consequence
bearing upon The general situation. ia IS
true that the inQustrials 20 COnSiderd-
bic extent dominated the market. but
speculation showed "a tendency 10 ignore
fuctuation in this group. This circum-
stance caused some favorable comment,
as did also The fact that the general
list lapscd into dulncss and showed COM
paratiye steadlncss when concerted at
lacks on The spcclalties were made. Lon
oon quotations indicated a more favorable
disposition toward Americans abroad,
which was reflected in good buying here
throughout the day Operations 10y the
boar faction were renewed in various d.
recti0ns. with Manhattan looming 10 the
front. Tobacco. OF course, was the most
vulnerable point and soon yielded TO 10.
Covering by shorts put the price back 20
12Sia and intermediate fluctuations be-
tween that and the close at l2o4 were
accompanied by violent dips. The stock,
generally speaking, showed n better tone,
and ended for the first time this week
with net advance. An analysis OF the
Burlington figures proved that the Tears
concerning ~ entertained yesterday were
groundlcss. and there was a brisk move
mcut 10 cover which advanced the price
almost points The bears had counted
on accomplishing liquidation in the rail-
ways on the publication OF the report
and its good reception in the street put
them 10 rOut. and large lines were cow
cred Prominent interests were ranged
on the long side for a while and tho
sentiment became more checrfuL can
money rates saggcd 20 2ia late IN the
day. The action OF the Government in
anticipating the November interest cou-
pied with the early receipt OF large
amounts OF gold in transit were respon-
sihle for the decline I'm rates. Time
money was also QuOtably easier for the
shorter periods. and some prime mercan-
tile paper was discounted at 3i2 per cent.
Considerable pressure was concentrated
against Sugar as the day drew 90 close,
but the stock soon recovered and ended
firm in common with the remainder OF the
list. which established slight gains.
Bonds ruled fairly active but irregular.
Total sales. 81 .9S3 Oc0. Government bonds
were n tri0e easier, the IS reacting Is
per cent.
Total sales OF stock were 307 800 shares.
Including 1117J AtchisOn preferred, IS
80 Chicago. Burlington and Quincy. DO
$50 Manhattan. % 225 Northern Pacific,
8 90 Union Pacific. 1l.4JO 81. Paul. $50
Union Pacific preferred. ll6. % Tobacco,
$3.50 Peoples Gas, and 1900 Sugar
MONEY AND EXCHANGE Money on
call easier at 2iN3k per cent; last loan
az Oh per cent, prime mercantile paper,
8i505 per cent. Sterling exchange easier,
with actual business I'M bankers bills at
g4sfd4 S44 for demand and at SlSll20
Asia. for sixty days. posted rates, 81 N2N
SOL and SfSl. commercial bills. SiSOL0
4s1 Silver certificates, 6l062; bar si-
yer. GIL. Mexican dollars, 47ia. Govern
rnenf bonds easier. State bonds firm, rail-
road bonds Irregular.