Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-11-19
STOCK MARKET WEAK
OF A WEAK SHOW
ING IN BANK STATEMENT.
GOOD OBSERVATION-DISCLOSURES THOUGH,
Buying of Peoples Gas, In Pnrticu-
lar. q Sustaining Factor-Wheat
visions Rule Firm.

NEW YORK. November ls-rhere were
weak points in the stock market to-day.
in the start, but the underlying elements
Of strength promised at one time to over
come obstacles and carry prices uni
formly to a higher level. Apprehension
Of weak showing in to-morrow's bank
statement turned the tide toward the side
OF reaction In the late dealings. The
level OF prices was In most cases carried
sharply below last night, and net gains
remaining were very much reduced from
the extreme advance of the day. The most
influential factor in causing weakness was
the obvious liquidation going on In North
ern Pacific. which is attributed to one OF
the leading financial interests in the pro-
perty. Delaware and Hudson was raided
down to SO I'D, with accompanying ru-
mors of dividend reduction This Is the
lowest price for several years. and is an
accurate reflection OF the decline in the
anthracite trade, other stocks affected by
that trade falling in sympathy. Notwith-
standing these elements OF weakness, the
market showed good recuperative power,
the buying Of Peoples Gas, particularly,
being a sustaining factor.
BANK STATEMENT EXPECTATION.
The expectation of an unfavorable bank
statement Is based on the known activity
or the week In the money market, winch
must have largely increased reserve re-
quirements by expansion Of loans. There
Is nothing in the currency movement from
the interior or Sub-Tressury operations
TO Indicate a large increase In cash TO
meet the requirements so that a further
decrease in surplus is looked for. The
local money market continued easy to-
day.
The bond market showed a tendency
TO run off In the late dealings. except
n f1v ctr
earlier strength. Total sales, $5,275,OoO.
United States 3's and the new As, cou-
pom, advanced Is in the bid price.
The total sales OF stocks were 1000
Atchison. preferred; $3.50 Baltimore and
Ohio; u.7i8 Chicago. Burlington and
Quincy; 6.00l Delaware and Hudson
IC@5 Denver a TTio 8 srst G pTefee
way: 1890 Northern Pacific; $500 North
ern Pacific. preferred: 1850 Rock Island;
12,2l5 ST. Paul; 5.3l5 Southern. preferred
1925 Texas and Pacific: lO,116 Union Pa
cifc, preferred; 11,575 Wabash preferred;
6.S27 International Paper; S.454 Bay State
Gas: 223iS American Tobacco; 1870 Fede-
raj Steel 1896 Federal Steel. preferred
5S.315 Peoples Gas; 1880 Sugar, and $3.50
Chicago Great Western.
MONEY AND EXCHANGE.
Money on call easier at 2 1-4G2 1-2 per
cent; last loan at IA; prime mercantile
paper, 3Gj4 per cent.
Sterling exchange steady. with actual
business in bankers bills bills AZ A.S IA
Ga.S5Ik for demand, and 1872 1-44si.S2i5 for
sixty days; posted rates. ASlqA.d 1-2;
commercial bills. Si.S1dNS2
Silver certificates 90 1-2Q1 1-2. Bar sill
yer. 60 SIS. Mexican dollars, 81 1-2
Government bonds strong. State bonds
inactive. Railroad bonds irregular.
BANK CLEARINGS.
The total bank clearings for the week
were 81, 727 175, 465; per cent. increase. 3j.2
Exclusive of New York, s6lf,65S,063; per
cent increase 1879.