The times. [volume] (Richmond, Va.) 1890-1903, 1898-11-01
STOCK MARKET
NOT SO STRONG.
Prices Were Maintained Over Satur-
days Level Only by an Effort.
TOBACCO CONTINUES ACTIVE.
a Large Proportion of Yesterdays Bus
fncss was IN THAT Stock and Prices
Weakening Factor.

NEW YORK. oct. 81 Some obvious e.
scit was required 90 sustain prices TO-DAY
ABOVE the level 81 saturday and the md
gay Else Was not maintained 10 the close.
prices ln some cases declining below SAT
urday level An inspection OF the list
VAL reveal that outside or very rev
cases net changes are unimporiant some
observers believe that such strength as
the market mas is due 20 The support OF
very powerful "a gregatiOns Of capital
which arc Interested In seeing higher
prices for some new securities. quite
large proportion OF the total business 70
DAY was IN tobacco. the prices OF which
was rushed up seven points % l4$s.
Much business Is taken up by the FED
eral Steel securities. tho preferred STOCK
floinS nfarly two points 20 tJ'4. ne steer
stocks are dealt in when issued Whicn
S. the stock exchange phrase FOR buying
what has not yet come into existence.
There are TO be 500 900 OF the red
oral Steel stocks. There arc TO De SUD-
10000 or securities OF tho New COntinen-
t8i plug tobacco, annex OF the American
Tobacco Company. As these securities
arc in process OF nota ton the importance
Of sustaining values In the general mar
kct for the benefit Is undeniabe The
task OF doing this to-day was not an easy
one. and in the late dealings with selling
of Northern tactic on large scale the
talk Of fresh complications IN connection
with The roads relations with other roaus'
the burden apparently became 700 ht'fg
and pretty much an the earlier gains
were wiped out Tobacco and Federal
Steel were conspicuous exceptions. Intre
were other points a. strength In the mar
Iet during the day. particularly among
the Western and Southern railroads. put
there was no general public interest m
the market and some attention was palu
20 the large naval and military pfeparl-
lions making in Great Britain. ne Weah-
moss Of the wheat market earN IN VIC
day on the big Russian shipments IVES
also an influence IN the market Iht
small demand for money Is not IesaIueu
as a favorable indication, now tna' 'hc4c
are abundant funQs IN the market
There was continued activity IN luc
bond market The speculative ana re or
gaDizatiOn bonds being the iavorues. Inc
Union Pacific IS sold most or the gay AT
mar. which price they touched Tor the nrst
ftr,a ON SATURDAY Total sales, S3,OJO,VVO.
government bonds were unchanged.
Tho total sales of stocks were 344, 100
shares. Including. 7.7sO Atchison pfd; IL
80 4, t. and O.. L. 30 l.. and n; 100
Manhattan. 13 $40 Northern Pacific; 64f4
Rock Island. Is. 40 ST. Paul. 5000 Amer
lean Tobacco. zl.Gl5 Federal Steel oJ,toi
Federal Steel pfd. "a 10 Sugar
MONEY AMI money
can easy at 1KQ2 per cent. last loan
10 Prime mercantile paper, 3A444 per
cent Sterling exchange firm with actual
business az 4 S5i5d4 $685. IN bankers bills,
FOR demand and al 4s2l2di S294 Tor sixty
DAYS Posted rates. 4.S304.S ssh and 4.S6n
4S7 Commercial bills, Bal per cent. Sil-
yer certificates. Gl063 Bar silver 6lkg
g. Railroads irregular.