Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-09-07
STOCKS VARIABLE.
CLOSE STRONG, HOWEVER, ATTEST
PRICES OF THE DAY.
CALL MONEY CONTINUES FIRM.
The Prices of Bonds I'm the Main
Firmly HeId-Wheat Turns Weak
Corn Higher-Oats Unchanged-Pro-
visions Decline.

NEW YORK, September s.-To-days
stock market was variable and irregular
at all times. but was more or less under
the continuing influence of the shrinking
surplus reserves Of the banks, and the
| sitter rates for money. General specuIa-
ton was almost at a standstill and the
movement Of the market was confined
| largely 10 special stocks, the trading be-
ing highly professional throughout. The
opening was higher, in sympathy with
London. 1t quickly became evident, how
ever, that no outside interest had been
enlisted here, and the professional bears
attacked the list in weak spots, notably
Manhattan, Peoples Gas. and Tobacco
and soon wiped out the earlier gains. A
number Of Individual stocks showed con-
spicuous strength all day, and a rally in
Peoples Gas drove the bears to cover,
and made them more cautious. The
strength became general in the late deal
ings, under the leadership Of st. Paul. and
the close was strong at the best prices of
the day, and generally at a level above
Fridays close.
The fear Of interrupted traffic through
yellow-fever quarantine was a factor In
the early weakness, and especially in
Southern Railway preferred. but at the
same time there was an advance OF 2 3-S
in Illinois Central, and conspicuous firm
ness in Louisville, on the prospect Of re-
sumption Of Habana traffic.
DOMINANT FACTOR.
The dominant factor in the situation
continues 10 be the absorption of money
by the United States Treasury, on ac-
count Of subscriptions to the new bonds
Call money continues quite firm, with
per cent. the ruling rate, and with no ap-
parent effect from the Treasury announce
ment that the currency Gs, due January
1st next will be redeemed at once.
1t is somewhat remarkable that, with
money holding firm at level markedly
higher than the ruling rate in London
and with exchange falling under the pres
sure Of grain and cotton bills, there should
yet be an easing of money rates in Lon
don. The phenomenon is the more re-
rnarkable, as there is continued buying of
stocks in New York for London account.
The condition of the money market has
its reflection also on the trading in bonds,
but prices were in the main firmly held.
Total sales. s.. 44O 900 United States old As
registered and the SIS advanced Ia, and
the new 4 , anu AlAb - WIFI lobutNt 10
cent i'm the bid price.
The total sales Of stocks were 325,700
shares. including Atchison preferred,
y. 2i3: Baltimore and Ohio. $3.50: Chicago.
and quincy. 600; Denver and
Rio Grande. zoos; Illinois Central. S0S6; |
/ louisville and Nashville, 1l,20O; Manhat- |
tan, 1928; Northern Pacific. 1850; do. |
preferred. 1850; Rock Island. $40; Union |
Pacific. $40; ST. Paul, 27,525; Union Pacific, |
preferred. 1850; L. u. and c.. 9,l96: Min
nesota Iron, $3.50; American Tobacco, |
5 .0l0: Peoples Gas. Sis; Sugar, 1885; !
General Electric, 7l00.
MONEY AND EXCHANGE.
Money on call firm at 2a3 per cent; /
last loan at II; prime mercantile paper, |
3 3-fd4 IL per cent.
Sterling exchange easy at A.A 1-2fc /
q 81 81 for demand, and 1872 3-4uA.3 for /
sixty days posted rates, A.S l-2G4A, |
and AS5 1-2qA.6; commercial bills,
slS 1-2Q$LS2.
Silver certificates. 50 1-2GGo he; bar
bar silver. 90 1-Sc.; Mexican dollars, 40 Sac.
NEW YORK STOCK QUOTATIONS.