Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-12-14
STOCKS IRREGULAR.
THE MARKET LARGELY AFFECTED
BY DECENTRALIZATION N SUGAR.
CONSIDERABLE GAINS AT CLOSE.
Good Undertonc I'm Speculation Gene
rnIIy-BOud Market Stronger Thnn
Stock-Iist All Grain Marhcts
strong and Higher.

NEW YORK. December l3.-The market
was irregular during the process OF digest
ing large realization sales during the cur
rent movement. the prominent railroads
closing at about the lowest. The market
encountered efforts of sold-out bulls 10
depress values and was largely aIec'ed
by the Generalization in Sugar TINS
stock. which was early supported ana
gained a point, subsequently declined hve
points on reported generalization IN the
sugar trade. in the early dealings the
moderate fractional advance here ioi-
lowed an improvement in London, Whefe
the public were buyers OF Americans
Subsequently, stocks became quite active
but sales. particularly I'm the standard
stocks, were we'll taken, on actual invest
uent and semi-inYestment purchases, anu
covering of short contracts. HalheS en-
sued, particularly among the early SUI
ferers. and around delivery hour gains
were considerable. The AtchlsOn issues
RECENTLY brought to the front by promi-
nent interests, were q sustaining factor.
The vulnerability Of Sugar was largely
responsible for the extreme irregularty
of the market. The traders hammered
/ this speciality industriously, and I'M
covered round amounts OF stop-loss
| orders.
Considerable support was extended to
| the general market throughout, and pool
/ buying was instrumental in lliting into
prominence some of the low-priced stocks
| " Eich had not as yet moved in proportion
/ to the rest of the list This was espe-
cially true Of Kansas and Texas pre-
/ ferred and Wabash preferred The cur
/ rent earnings Of the Southwestern group
have begun 10 show gains over last year.
/ through the lifting of the cotton blockade.
/ Missouri Pacific was the only laSsard in
| this category Of shares, proft-takins con-
| spring TO keep the price well below yes
! terday's level The Federal Steel stocks,
! which had been left somewhat neglected,
were taken i'm hand later in the day, and
/ advanced materially.
! GENERALLY GOOD UNDERTONL.
| Speculation generally betrayed very
good undertone, considering the heavy
! blocks of realizing orders which came out
/ after every rally. London operations
/ were quite extensive, arbitrage dealings
/ being for both accounts, but heavily in
| favor of the bulls. Northwest moved up,
/ but the advance in the other Granger
stocks was not significant Speculation
/ left off heavy in tone, with net changes
/ fractional either way.
The bond market gave n better ilustra-
/ ton of strength than the stock list, and
/ although realizing orders were in force
in the speculative issues final prices re-
| cord substantial gains in many cases.
/ Total sales. $4,000. United States 50.
| the old As, coupon, and the rs registered,
| advanced is in the bid price.
/ The total sales Of stocks were 80 400
shares, including 1856 Atchison 131 800 do.
| prefetfed; 5,3S5 c. 9. C.; $3.50 Illinois Cen
| trail; 1884 Louisville and Nashville lG l9l
/ Manhattan; 5206 Metropolitan 269lO Mis-
/ souri, Pacific; 1876 Northern Pacific; 900
| do. preferred; 15.29j Rock Island 1880
/ ST. Paul; $500 St. Paul and Omaha: 2123
/ Wabash preferred; $3.50 American Spirits:
/ 1880 American Tobacco; $500 Bay State
! Gas; 2S199 Federal Steel: 37115 do. pre-
! ferred; 1900 Peoples Gas; $3.50 Pacific
/ Mail; 5000 Sugar; 1880 Tennessee Coal
/ and Iron; $3.50 United States Rubber:
/ 0.ll5 Western Union.
MONEY AND EXCHANGE.
Money on call steady at 2Aa2H per
| cent; last loan at Pa per cent; prime
| mercantile paper, Sal per cent.
/ Sterling exchange hrmer, with actual
/ business in bankers bills at SlSH4QASp5
| for demand and SLHal0AS2 for sixty
days; posted rates, A&laq$lS5J2; com
mercial bills, SASOl2.
Silver certificates. J9ia; bar silver, $685.
/ Mexican dollars, 46H.
Government bonds strong. State bonds
| strong Railroad bonds strong