The times. [volume] (Richmond, Va.) 1890-1903, 1898-10-23
TONE OF MARKET
MUCH STRONGER.
All Stock Movements Showed a De-
cided Upward Tendency.
BOND MARKET ALSO IMPROVED
Sympathy with Stocks Has More Than
Covered Late DcprcSsion-Businc
In Both Was Well Distributed
and Large In Volume.

NEW YORK. oct 22.-The stock mar
ket again showed Itself independent Of
The depressing Influence OF London and
Furope except az the opening, when a
few OF the internS tionai stocks were al
lowed 10 fan below the London parity
The selling OF stocks on foreign account
made up "a considerable proportion of the
days business. and was well absorbed
40 advancing prices. The buoyancy OF
the wheat market made the gran-carry-
ing roads prominent in the movement the
buying Of Atchison securities. particularly
tho preferred. again occupying a con-
spicuOus place. But the stocks OF an the
western roads were well bought and adj
vanccd in price. Sugar ended its down
ward course very early, and closed near
The tor. with q net gain Of IA the under
lying strenI> manifest in the market
making the pears timid about leaving
short contracts uncovered over Sunday
Tobacco also was marked I'D 10 1224
with every evidence Of violent manfpula-
ton, and shorts were driven TO cover
heavily at every stage Of the advance
Even the co8lers showed the effects Of
the uncertain temper developed by tho
bears and recOveries on short offerings
The bank statement was just about as
expected, and had little effect one way
or tho other. The gain in cash had been
from imported gold, and the outgo from
fne sub treasury and the heavy increase
IN loans OF over Si0.OOO.O0O represents FOR
fhc most part loans on sterling which is
on element IN the lending Of money
abroad The increased deposits from this
source expanded the reserve requirements
so FAR that the Increase cash only served
10 raise the surplus by $3.75O775. Bush
ness I'm both stocks and bonds was well
distributed and active. and the market
showed a. decided tendency 10 broad out.
The amount OF business done was larger
Than for any half day for some time.
The bond market had improved in SYM
pathy with stocks a the week progressed,
ana prices have recovered from early de-
preston. United States old As. regis
tered. advanced ~ the new As. coupon,
and the SIS. registered. 2. and the 3's,
COUPON, and SIS, coupon, u in the bid
The total sales OF stocks were 10000
shares, including AtchisOn preferred, 49,
5e6, Chicago, Burlington and Quincy
e $50: ST. Paul $40. Union Pacific. Dem
yer and Gulf $3.50 American Tobacco,
f5.4JSi Sugar, 1895.
MONEY AND EXcHANGE.-Mone on
call steady al 1Izq2 per cent; last loan
ar per cent. prime mercantile paper,
ahQf per cent Sterling exchange steEy,
with actual business in bankers bills at
S4SJG4 Sjit for demand and at S4S20
z.S2i. for sixty days, posted rates, 81 S3n |
80. commerciai bills. S4SOA. Silver GER
tffcates. G0Q6l: bar silver. COS Mexican |
dollars. a.. Government bonds steady: !
railroad bonds strong; State bonds mac |
tive.
Rank ST-rTEMENT-The weekly bank |
statement shows the following changes
surplus reserve, increase ......S 3.75O.77j |
Loans, increase ......... ..... lOGOLBO |
Specie increase ...... ......... : 100 200 |
Legal tenders, increase ....... 3O7 300 |
Deposits, increase ............. 1S64S, 900
Circulation, Increase ........... 1900 /
The banks now hold s28. 412, 325 in excess
OF the requirements Of the % per cent.