Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-10
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT BusI-
NESS CENTRES OF THE WORLD.
Prices of Money, Bonds, Stocks,
Grain. Tobacco, Cotton, Cattle
Country Produce, &c, Foreign
and Domestic.

NEW YORK, February 9.-The most no
| table feature Of the stock market to-day
was a strong rally in the last fifteen
minutes OF trading. At o'clock the bears
started a raid, apparently with an ag-
| gressve determination to shake out weak
ly-margined holdings and to reach stop
| loss orders. They seemed TO be succeed
ing admirably in forcing down prices, de-
clines ranging from one to two points all
through the list, but the appearance OF
support at the low level led to a covering
movement which became a rush, and the
closing was very like rout of the bears
Substantial recoveries were scored very
generally, and in a large number of cases
the earlier declines were entirely wiped
out
The market was one of ups and downs
all day. the opening showing numerous
signs of heaviness, in spite of a higher
range of prices reported from London.
The bulls promptly offered support and
rallied the market, holding their adj
vantage up to noon, when tendency TO
realize sent prices downward again.
The Cuban situation discouraged as-
gressive tactics on the part OF the bulls'
the professional traders being disposed 10
realize all day.
There was a decrease in the volume OF
business also, and falling off in the out
side interest The declines, however,
brought out good buying. Michigan Cen
trial. Northwest. and Omaha showed spe-
cial signs of strength, and the local
street railway companies also advanced
quite vigorously. Union Pacific securities
were all quite strong, the advance appa-
rently being due to belief that the re
organization had concluded to secure the
Kansas division, even at the government
own terms. Great Northern preferred
was conspicuous for reaction OF nearly
4 points from its recent remarkable ad-
vance. Pullman was marked up 3l-2
points. on small transactions, and Rubber
preferred scored a sharp advance. Lon
don bought stocks here on balance.
Money continued to rule below IL per
cent for call loans. and there were re-
ports of large loans for year at 3 IL
per cent. The withdrawal OF the 10 per
cent instalment of the governments de-
post of the Union Pacific payment was
reflected in credit balance at the clear
ing-house for the Sub-Treasury of s6S2,lOO.
SuD-ITtdSuil
daily debit balance at the clearinghouse
of $500 900 or upwards for some time past
The plethora of money was not appre-
Gladly relieved by the operation.
Sterling exchange hardened an addi-
tlonal fraction. The current demand for
exchange is believed TO be due to some
large financial operations involving set
Elements abroad.
The speculative bonds showed reac-
tionary tendency, I'm sympathy with
stocks but the prices Of bonds FOR the
most part held firm. Total sales. si,4O2,-
600. United States old As. coupon, and
the new AS. registered, were Is lower bid.
The total sales of stocks were $500
shares, including Atchison preferred. TO-
400; Chicago. Burlington and Quincy, 3D.
9O6; Erie new, first preferred, $3.50; Louis
Vile and Nashville. $3.50; Manhattan. 3D.
20; Metropolitan Street Railway, $3.50;
New York Central II. 500; Northern Pacific
nreferred 9O95; Chicago Northwestern. H.
SIS; Rock Island, 5.925; st. Paul. 1920;
Union Pacific, 1S.0SO; American Tobacco,
2. $50: Chicago Great Western, $40; Peo-
pies Gas, 1916; Sugar, 22,4S5.
MONEY AND EXCHANGE.
p M-Money on call easy at LA
11-2 per cent; last loan at ii per cent;
prime mercantile paper. Sqi per cent.
sterling exchange strong, with actual
hns,ness In bankers bills at Si.S5 5-sft
a. "A for demand and A.S3 l-SaSi.S Ii
for s,xtv DAYS; posted rates. SiH and
"a 10. commercial bills. Si.S2 IL.
SILVER certificates. Sc l-2q57 l-2; bar sill
,,er 5s2-S. Mexican dollars, As Il.
Government bonds weak. State bonds
aulI railroad bonds firm.