Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-12-22
STOCKS ARE STRONG.
FRACTIONAL GAINS GENERAL IN
THE RAILWAYS.
ADVANCES In SPECIALTIES.
In n Number Of Cases They Reach
Considerable Proportions - Corn.
strong and Higher.

NEW YORK, December 21.-The market
was strong most Of the day, particularly
In the late trading. Fractional gains were
general in the railways, while the adj
vance I'm a number of Specialties reach
cd considerable proportions. A curious ex-
ception TO the general advance was no
ticod in the stocks where dividends have
just been declared-namely. New York
Central. Southern (preferred), and Atchi-
son Cpreferred). In some quarters larger
dividends had been expected. and I'm the
case of Southen Cpreferred) and Atchison
(preferred). a statement had been looked
forward 10 that they could be put on a
regular dividend basis, instead Of making
disbursements from time TO time, as the
earnings might warrant. y considerable
Increase in its quarterly surplus was re-
sponsible for New York Central's rise
from the extreme low point. The efforts
OF London traders to cover short lines I'm
Americans gave tone to the local market
early. This was particularly the case in
Baltimore and Ohio, which advanced very
buoyantly locally. There were large pur-
chases also for foreign account Of ST.
Paul. Most stocks unaffected by special
developments. or foreign quotations. were
freely offered by traders. but this caused
little more thar a period Of hesitation,
and a shading in railway quotations. Ru-
mOrs that the Chicago and Alton had been
secured in the interest of Union Pacific
and Baltimore resulted in the sharp rise
I'm all the securities mentioned. Federal
Steel stocks were bought confidently by
the same parties who lave recently been
large purchasers. At the same time. they
emphatically denied rumors that Federal
CT ,... ,L,,ft tn aI-nrh nnnfhQr lQrpa
concern.
SOUTHWESTERNS PROMINENT.
The southwestern railways were very
prominent in to-day's activity and
strength, notably Texas Pacific.
The homo market showed irregularity
in spots, proht-taking being evident in
Atchison adjustments. Heavy purchases
of Texas Pacific 2s were made later in
the day. which carried them above AZ.
The general market. Notwithstanding the
hesitancy of some issues, displayed a very
healtErul undertone. Total sales, $j,0iO.OO).
United States old As (registered) advanced
is in the bid price.
The total sales Of stocks were $3.50
shares. including 1885 Atchison; 800
Atchison Dreferred): 6,66S Baltimore and
Ohio: $50 Chicago, Burlington and Quin-
cy: 1854 Lake Erie and Western; 5000
Lake Erie and Western (preferred); 600
Louisville and Nashville; 10000 Manhat-
tan; 100 Missouri Pacific; 7,4O Missouri,
Kansas and Texas preferred); 5000 New
York Central; 1880 Rock Island; 1000
Union Pacific; 1890 st. Paul; IL, 40 South
ern Pacific; CLIO Southern Railway; 15.2o
Southern Railway preferred); 1870 Texas
and Pacific. 1890 Union Pacific (prefer-
redJ; 1880 International Paper; 11,OSO
American Tobacco; 5000 Federal Steel;
1850 Federal Steel preferred; $3.50 Peo-
pies Gas; n.45C Consolidated Gas; 500
Pacific Mail; 26.200 Sugar, n 6,Sl5 Ten
nessee Coal and Iron.
MONEY AND EXCHANGE.
Money on call steady at 2g21-2 per
cent: last loan at 2 per cent; prime mer-
camille paper, 3d3 IL per cent.
Sterling Exchange easy, with actual
business in bankers bills at 1874 la
$4.s4 81 for demand. and s4S13-sa$i.S2 for
sixty days: posted rates. $I.S2 1-2a$LS 10;
commercial bills. Si.S01-2.
Silver certificates. 590j9 IL. Bar silver,
80 1-2. Mexican dollars, 46 -.
Government bonds firmer. State bonds
Inactive. Railroad bonds irregular.
NExN NnRI, STOCK nUOT I0N