Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-11-16
STOCKS CLOSE HEAVY
THE REACTION EVEN MORE PROM.
IxENr IN THE BOND MARKET.
spEcIlLrIBs ACTIVE ALL DAY.
Movements I'm Them variouh and
Conflicting Tobacco Markedly
strong-Declines In Wheat and
Corn-Provisions Down.

NEW YORK, November l5.-The pre-
were noted yesterday In the stock market,
and even more prominently in the pond
market, found their justification to-day.
There were periods OF resistance to the
decline. end in several stocks the rests
lance was successful. But the reaction
gained force as the day progressed, and
the closing was decidedly heavy In tone,
and at the low points, net declines being
the rule, and reaching as much as point
in a few stocks. The Specialties were &C
tive all day. and the movements In them
were exceedingly various and conflicting,
and Influenced by individual feeling. The
market for railway stocks showed
heavy tone from the opening. especially
in Internationals, which had the burden
of selling for foreign account 10 carry
The Changers and Pacifcs also en-
countered obstacles to an advance Inc
Atchison issues continued TO be strong
rallyng point for the bull faction the
preferred stocks rising TO IS 3-S
Further effort was made 10 sustain the
railroad list by bidding up prices OF the
low-priced stocks, especially those In the
Southwest group. The mystery surround
ing the pending disposition OF the en-
cago and Alton also impaired strength
TO different railroad stocks, on rumors
of connection with that transaction.
Thus. Kansas City, Pittsburg, and CUT,
the Lake Erie and Western stocks, ana
Chicago, Indianapolis and Louisville, pre-
ferred, rose at times from L to points.
There were unexplained advances Oh 90
Of "a I'm
In Chicago and Northwestern. preterrea'
TOBACCO STRONG.
In the Specialties, there was prevalllne
heayiness on one hand, in sugar, Man
haitian, Federal Steel. and Peoples Gas
while, on the other hand, Tobacco Metro
politan Street Railway, and the Paper
stocks showed marked strength. Inc ! eu
eral Steel stocks have been dealt in mere
tofore as deliverable when issued, trans
action which did not call for cash. ms
| certificates are now being issued. and th'
resulting requirement for funds is a
| stoned as the reason for the weakness o.
| these stocks. other iron and steel STOCKS
were heavy, in sympathy.
THE presence in the city OF leadine
street railway magnates was senu
mental factor in the strength OF Metro
| politan Street Railway
| The hardening tendency or the money
market was reflected in the CROWNS
/ heayiness of bonds, the market for whlcf
continued very active. Total sales, $500
| coo. United States new As and the Q
declined IA, and the S's and the Old AS
Is in the bid price
The sales Of stocks were 5i5,2OO shares
including 10, f25 Atchison; $685.. do, pre-
| ferred: S.577 Denver and Rio Grande pre-
ferred; Is, CSC Louisville and NashVlile; ~
III Manhattan; II 800 Metropolitan Stree
Railway: 5'605 North American Company
14.715 Northern Pacific; 2,5I Rock Island
10 BOG Union Pacific; 2S,3i5 Missouri Paci
fc: %, 30 st. Paul; 500 Southern Pacific
ll,357 Southern Railway preferred; SO
Texas and Pacific; 1918 Union Pacific
5.6Ol International Paper; 1915 Fedora
steel; 5000 do, preferred; HE People.
Gas; 6. $50 Pacific Mail; $3.50 Sugar; 1913
Chicago Great Western.
MONEY AND EXCHANGE.
Money on call firm at 2Q2 IL per cent
last loan at per cent; prime mercantil
paper, 3Gi per cent.
Sterling exchange firmer, with actua
business in bankers bills at SfS5 La
4.51-2 for demand and A.S2a$i.2 IA 10
sixty DAYS; posted rates, $i.S3aS6.Si l..
commercial bills. StSl@s4a IL.
Silver certificates, e0q6l IL. Bar silvel
05-s Mexican dollars, AZ Is.
Government bonds weak. State bond
| strong Railroad bonds easy.