Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-12
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT BUsI-
NESS CENTRES OF THE WORLD.
Prices of Money, Bonds, Stocks
Grain, Tobacco, Cotton, Cattle
Country Produce, &c, Foreign
and Domestic.

Country Produce. &c, Foreign
and Domestic.
NEW YORK, February 11.-There was
proft-taklng on quite a heavy scale IN
stocks to-day, said TO be for the account
of one Of the principal bull operators
The interval Of two days before trading
will be resumed on the Exchange was
the motive for closing up some accounts,
as is always the case on the eve OF dou-
bic holiday. The sharp advances In some
stocks at the opening afforded the more
favorable opportunity for realizing pro
fits. The opening rise was largely IN
huenced by the higher quotations for
Americans sent from London, and was
also helped by the marked strength OF
one or two specialties. London bought
here on a considerable scale, and helped
to sustain prices to some extent, but the
offerings were not well absorbed, ana
support was largely withdrawn. rne
weakness of stocks encouraged the pubic
getting out OF short lines. The covering
of some of these before the close brought
them 10 a level materially above the low
point, but still left net losses, as gene
raj rule.
Some of the notable recent advances
were due TO the rumOred tendency OF
plans for the distribution Of the surplus
| resources TO the credit OF some or the
| gilt-edged properties. The prevailing
abundance Of money is said to make the
| care of these surplus funds Increasingly
4 L.
which advanced an additional point to-
dav. but reacted two points I'm the closing
dealings Adams Express was ex-diyidend
of 2 per cent. to-day, and eX-lOO per cent
| I'm bonds, to be exchanged Tor stocks Oh
the company. The closing bid yesterday
on the stock was 49, and to-day's Closing
was 100 bid and 40 asked.
The days dealings in bonds continued on
a remarkably large scale, single lots OF
the par value of from 10000 up 10 SloV,vVV
changing hands frequently. The par value
of the sales for the day of A1chison adj
iustment As alone was $S2O,0OO. Some or
the speculative bonds reacted quite sharp
! w. i'm sympathy with stocks, but the gem
raj tendency was upward.
REVIEW OF THE WEEK.
There was strong tendency TO reac-
ton in the stock market at times during
the week. principally owing to apDrehen-
sions regarding the CUBAN question. Early
i'm the week the market was sold very
| aggressively by houses with Washington
connections, and this was interpreted as
being induced by belief that anairs win
Spain were reaching a critical stage. Inc
manner i'm which the outcome OF the lie
| LONE incident was accepted In wan
street induced large covering or snort
contracts bv these same Washington SELL
ers and the market rallied strongly on
| Thursday but this rise was attributed Dy
some persons 10 manipulation. me re-
eumntion of realizing. which followed TO-
DAYS advance, gave color TO this supposl'
ton. -,
The enormous demand for all grades OF
| dividend and Understanding securities
not already advanced to prohiDitN'
figures. shows the large amount OF money
seeking investment, and AFFORDS great III"
terial support to the more purely speouia
tive department Of the market. The pie
tboric condition OF the money market and
the cheapness Of rates tends 10 lesser
tho return on investment securities als1
nv raising the price. Increases In railroad
earnings and promises Of added profits by
consultations and refundinSs are ais
counted in proportionate rises IN prices
soon after being announced.
The buying of stocks on the New 1orh
| Exchange for London account mas peei
heavy during the week, the demand loi
| Americans having been quite active III
| London and at other foreign centres BE
| sides these recored transactions there
are reports of very heavy blocks OF secu-
rites having passed TO the nand5 Oh
! European holders al private sale from
the hands of reorganization interests. In
view Of this absorption OF American secu-
| ~ tendency
! foreign exchange market during the week
is somewhat contradictory, but the easier
rates for-money here have been attended
bv a stiffening of discount rates abroad
and this has naturally induced the with
! holding of exchange in order 10 ara" tht
higher interest rate abroad.
Dealings in the bond department have
continued on an unprecedented scale du-
ring the week The speculative issues
have moved at times In sympathy with
the reaction in stocks but prices are ma
terially higher all around. United States
new As. registered, and the old As regis
tered, are Is lower bid, and the os l.
higher bid on the week.
The total sales OF stocks were SSo,yV'
shares including Atchison preferred, H.
79i; Chicago Burlington and Quincy. S2,'
go. Lake Shore 6S72; Louisville and
Nashville. 1901; Manhattan. 2.OSO; Metro
politan Street Railway, 1856; New York
| Central. 25,270; Northern Pacific, 6.t2o
| Rock Island, 6,S5; st. Paul, l265o; 81
| Paul and Omaha. $500; Southern Railway
9l96: Union Pacific, s,6I4; Peoples Gas
| "A $40: Consolidated Gas. 5.8l; General
| Electric. $50; Sugar. II, $50; United State:
/ Rubber preferred, 6,Ozi.
MONEY AND EXCHANGE.
p. M.-Money on call closed easy al
1Gl1-2 per cent; last loan at Ia pei
| cent; prime mercantile paper. SRi pei
| cent.
Sterling exchange easier, with actua
business In bankers bills at N3 5-S FOL