The times. [volume] (Richmond, Va.) 1890-1903, 1898-01-08
FINANCEAND COMMERCE
~HE CLOSING QUOTATIONS or
HONII.
OFFERINGS and Sales et the Richmond To-
bacco Ttchange-Internal Revenue
Conoctions-Toreign Advances.

NEW YORK. Jan. the market for
stocks to-day old not cltltr tnaltllaiF
srom that of yesterday. lhe agSreai we
bun mood OF fho speculative world con-
I.uuCd iu ull force. and All the large
profOsa ioual operators were buyers on
stocks. That they were reinforced bN "A
marked addition of outside interest Was
shown hy the large number Of orders IN
speculative stocks placed through COM
mission houses. there was also a. con-
tnucd absorption OF bonds OF all descrip-
rions. very heavy orders being placed in
1ho hifh-grade issues as well as in the
speculative issues and moderate grace
bonds The pressure for funds Ior rem
Nfstmeut which had been released by inc
january dividend and interest payments
Was very obvious There was also
marked weakening of tho rates Tor
money Notwithstanding tine lively char-
meter OF the speculation. EuoTls were
made hy tle banks and money lenders 10
Keep the rate for money az high as . lltf
vent. Loans were. in taci, pldCeu al ~
pcr cent, hut the rate saesed OF 10 :
pcr cont. and The last loan Of tho ddy
ruly commanded 30 per cent owners OF
money were also lively bidders TOT com
mercial uauor. This served 60 stimulate
rhc spec itiVc Juror which seems 10 nave
broken oul London was quito a large
buyer Boo This market Of several OF the
International stocks. notably lnlon Ia
-Inr and Louisville and Nashville Tho
most conspicuous movement i'm the mar
lct was tlut iu SusQuch0nna ana west
tru securities. due 90 me reported passing
of tho control OF the property 10 Erie
interests. The fears or minority slo.k-
holders I.1 to ana unloading Of their hold
Sings and % slump OF points IN the com.
mon stock without recovery ana oA y
points iu the preferred. with rally or
over point in the latter The bonds Of
abe company were very strong on the
belief that thoy would be guaranteed by
fho new controlling company. Ihis break
caused sympathetic weakness i'm an
the r0llers. and mild weather worked TO
rhe same end. The bituminous coal roads
were. ou tho other hand notably strong.
Some of tho leading railroad STOCKS snow
some net losses. but this tendency was
NOR. pronounced I'm the recently tCiVe
stocks OF local corporations. The rcaiH-
ng of the last hour. Invited by .hc day
notable rise. affected the specialti.s most,
but ffe effect was quite marked through
ouf Tho nst reducing the day net gains
quite sharply lu some cases. Net gains
outside the c0alcrs and few specmlues
extend AN the way from % fraction 20
over point. The abundant rcplenish-
ment of the local money market had lea
Ip tho attack of the surrender by New
NOW lu their vaults on account of the
Union Pacific payment
Tho bond market continued very nota-
Ily active to-day. ana % large number
of issues show gains of over / per cent
Total sales. Sf.5lN 900. United states ola
q e. registered. were r. higher bld, ana
fle new q . were "a higher: o..
The total sales OF stocks were 44SgO
shares. including Atchison preferred,
1000. chesapeake oud ohio. GGGj: Chi
cago. Darlington and quincy, ;.@G13;
Louisville ANA Nashville. $500, Manhat-
tam Elevated. 3J.3G3: Reading first pre-
ferrcd. 600. Missouri Pacific. l&.4jj. New
York S. and w preferred. $500; New
York Central 2J445. Northern Pacific
preferred. S.533. Rock Island. 12OsO. St.
Paul. 2y5i5. Union Pacific, 2i7fO. Ameri
can Tobacco. 1880. Chicago Great West
orn. 1853. Peoples Cos. 5000. General
Electric 13.JY5. Pacific Mail. 6920. Sugar
2G 52G. Western Union. 23.7y9.
MONEY AND TXCHANGF.-Mo on
cali easier GO 203is per cent: last loan
so ~ per cent, and closed offered M 2ia
G3t per cent, prime mercantile paper.
3i50f per cent. Sterling exchange firm.
with actual business iu bankers bins M
ds5is for demand and AZ 1925 for sixty
DAYS. posted rates. 4sHifNfSG. CONNER
,ial bills. 49, silver certificates. J7lf ass.
liar silver. 81: McXican dollars. 45t,.
Government bonds strong; state bonds
6ull
BANK CLEARINGS-The total bank
Hearings in the United states for the
week wero I.41S.5S9.7jS: per cent Of in
rrease 23G Exclusive of New York.
$3.50 ZIP. per cent OF increase. 49,.