The times. [volume] (Richmond, Va.) 1890-1903, 1898-01-16
FlNANCEAND COMMERCE
"a n CLOSING OuOIATIONs or
HONET.
onctines aud sales at the Richmond To-
basco Exohange-fntsrnal Revenue
Collcotions-Tor Foreign Advances.

day. The situation az Havana was the
motive of the selling There Is no aasur-
Snco fen that there may not be eud-
N'u development OF "a dangerous stuA-
ton there which would neccssltafc lmnc-
oiale measures By the United States naval
Iorcts Co protect tho interest Of Amcri-
can citizens resident iu Havana. Fears
on this score were somewhat aggravated
by fhr persistent selling oi houses with
M arhluRion connections. This was taken
TO reflect 90 feeling OF apprehension in
'hic'al circles "a $40 thc outcome of the
situation. 81 course the professional
traders were ready 90 turn sellers without
further irduccmDnt ora She general prln-
olUIe that prices $50 down much more
easily ana quickly Cham they go mp. Inc
nT attack was vigorous and eicctNc.
ana margins being wiped out iu many
cases. large holdings were thrown over
% save losses. thus adding 90 the weak
moss OF tnc market. Tic sharp rally dt
iN' close ON tho covering OF short lines
mode up q considerable proportion oi inc
whole. Today and yesterdays rcnr-
tons in tho stock market put am ond
70 period or strength auC activity ear
ewing good promise OF tho usually cN-
pccted January boom I'M prices. only
tNNtn stocks which scored extreme od-
Niuc.s carly iu the week have anything
iIe market bDine decidedly lower man
at last Saturdays close THE special
points of vantage on which the strength
OF inc market held carly iu the week
W'f' INC norm iaclIc STOCKS d.n
llnn acme. lne source 9i 'uls slI,Ilst .l
oi Union Pacific ola outlet 10 nc "a
ir col. NnIlhriu i"'ii, ann ~,
hi'N it'IHc group als' chJul '1 lIc
=. I'Nl oi antc ipuluns 81 hift hlun-
dixie business lu tho spring. Manhattan
WAS another point of strength in The
maflct with lo-p0iNt rise. half OF
which hIs been lost iu the iHhlu" OF
profits Sugar was pcrssoutly weak.
lir decline lnr been attributed 10 The
declared purpose OF the directors 10 re-
t.ln ne surplus ior con encie5 ana
profess onal tIad'IH nave ltntn o. gloomy
but uniformed view off what these con
nscncIcs might hr. The peno'hCy Oh mo
llHWAlan annexation treaty ih ine sen
ate has boon uniaNorapio 10 sugar as
.nn' A'Ilnn would nH"W lit"d'an IT,
.N NIi.N sugar To- come DOB lIte' J ne iu-
o' IiIal iel t.htlallt mas be,n hcaFl
,.ll,t I'D. M,. h. q I.a'uIe ol ,He W',s
pas been me large huynE I9r ihyses'iinent
bank statement indicates that the expect
'l REIMBURSEMENT of tine money market
Weakening oft foreign exchange indicates
that thc soasouable outgO O fg0ld is
llkcIy not 10 occur ON account of the
heavy trade ln'ance in our favor. The
ite Of loan expansions does not indicate %
very active demand for money, but i'm the
last few DAYS offerings OF commercial
paper were reported to Doe m large
also lcen mqir.e1fiv active 10 e0cci n
lowering of rates.
Tho market for railway bonds has been
very active 40 he week. aud record
prices have been reached for many high
grad. issues. THE issues If the Union
1rr -non.H.uol u,.p stru dnoIs ow1pI
strong ens.s,irlr advances ranging NO 10
crn ar.ts trust rcteipis rose rose AT one time
2p per cont, but lost part of the gain.
and the old a. coupon. are !. higher bid.
nli thc new as ls higher (eN-lntercst Tor
The r.cIsteroO.
THE total sales OF stocks to-day We're
1880 shares. including Chicago. Bur
luston and Quincy. 1880. Manhattan
Elevated. -~ $40. Missouri Pacific, BIO,
Now York Central. a. lGI. Northern Pa
rffc. 4lOs. do. preferred 123OO. Rock
Island. NGiu. ST. Paul 1850. Union Pa
,Ifr I1 $40. CHICAGO Great Western 1861.
Peoples Gas. $3.50. Sugar. % .12O.
MONEY AND CHANGE-Moncy on
cHN steady tt % per cent. primo mercau-
tlc paper aal pcr cent Sterling eN-
change heavy. with actual business ln
bankers. bids at iSlHi for demand and at
49,. Gfe2@i Tor sixty days. posted rates.
ASA i>ps and 1851 .I1~G. commercial bills.
aS2 SlvCr certificates. 81 Z0JSi.. bar
silver lr.. Mexican dollars. 49, State
bonds dull. railroad bonds steady. Gov
.rumeut bonds steady.
BANK STArENENT-Tho weekly
bank statement shows the following
changes.
Surplus reserve. increase .......S3. 1O1 300
Loans. Increase, ..... .......... 12tlOOO
Specie. increase ................ 2OJ0 800
local tenders. increase ....-.. a15s 500
Dnnosfe increase .............. GU2O4 400
circulation. decrease ........... $50 COO
Tn. banks now hold So. OGS 90 I'm eX-
,res OF the regulromeuts of the % per
cent rule.
Tho Fiunuc.rr SAYS. Tho New York
hanks hat. made IA new record in the
7nafter of loans tho totnl of sG1Ogg2 coo
.af tho close of the week being tho highest
oven r.uorta6 Ileunslte also are above
any fpire previously made. During the
INST f,gn weeks of Inc rroeent wear the
omit. An dauoefe has been $4,000 900.
.. loan. have cvu.n1rd only 50 200 coo.
.u of This fact the ease I'm money
r.f docs MOI arucar strange. and III
rha hunks continue tn pof I'm from the
interior las at present lower quotations
will follow The withdrawal OF Govern
mtut deposits. however. may steady the
Situation The hanks gained during the
or which was 200 specie Gold is now
coming in this direction from Canada. the
paet ton days receipts having approx
mated $4,000. The Increase in deposits
was SGo2O.1Oo. while loans are only
81 215.7OO heavier. The excess reserve In
consequence expanded $3.1O4 200. and
stands at S25 g0S 415. This IS only half
ass largo ass reported one year ago. but
in view of the fact that remittances are
b. g." exPcc,ed from weel, 10 Week. ln the
lions socm to have bcen confnci TO the
larger banks. The deposits Of INC Ham
a -