Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-11-13
STOCKS VERY ACTIVE
PRICE CHANGES UNIMpoRTANT,
HOWEVER, EXCEPT IN FEW GASES.
UNPRECEDENTED BUSINESS IN BONDS.
The Weeks Record Exceeds That of
All Previous Weeks-Advance In
December whent-May Unchanged
other Markets.

NEW YORK. November 12-The pro-
cess Of digestion Of railway and corporate
securities was continued on an enormous
scale at to-day's short session OF the
Stock Exchange. The public were in the
market as buyers again at the opening,
and heavy orders placed with commits
sion houses were executed throughout an
extended list. At the same time. recent
buyers who saw an inviting and secure
profit at the present advanced level OF
prices, were sellers. The result was a
very active and broad market, O. constant
exchange of securities going on in the
first hour, resulting in rather unimportant
changes in prices. except in a few cases.
With the completion of the buying or
ders, offerings were In a way to exceed
the demand in the second hour aud prices
showed a sagging tendency. but the vio-
lent advance In Sugar to 1232t. or almost
points net. caused a sympathetic harden
ing In prices, turned the traders to the
bull side, and induced the shorts TO cover
hastily. The result was a short close.
Notwithstanding the final slump OF over
points In Sugar, and net gains reaching
point or over In many cases.
RAILWAYS STRONG.
The important movement in the Atchi-
son securities was continued, and gave
tone TO the whole market. The principal
activity in the movement showed a tend
ency to shift from the preferred to the
common stock, which advanced Ia on the
day. The preferred stock and the bonds
continued in large demand, the former
closing at net advance OF 1%.
Other properties in the movement were
also notably strong and included Peo-
pies Gas, Rock Island, and Brooklyn
Transit, but the Federal Steel stocks
strength OF Louisville and Nashville and
Southern preferred was due to the excel
lent traffic returns of the two roads for
the first week in November.
BANK STATEMENT DISREGARDED.
The bank statement. which was I'M
favorable, was disregarded.
The business In bonds on the Stock
Exchange during the week, which was
only four full days and to-day's short
day. exceeds all previous full weeks re-
cords, with total sales OF a par value
approximating 100000 against the pre-
vious high record Of less than s25, 900.
On Thursday the sales OF bonds ex-
ceeded i'm par value $4,000 900, against the
best previous days business of $500 900.
and on Friday the days business nearly
approached Thursdays record
In the total number Of shares Of stock
dealt in. the weeks record has been
many times exceeded, but in the number
Of different issues in which 1Oo-share lots
have been dealt in. the weeks record
has never been surpassed, thus indi-
eating breadth and uniform interest in
the market
UNPRECEDENTED BUSINESS.
The weeks unprecedented business in
bonds has resulted in higher prices all
around. the middle and lower-grade is
sues showing the most pronounced eff
have advanced rs: do. registered. 10;
the old As, registered. 3-S, and the 3's,
coupon. the old As, coupon, and the SIS,
is in the bid prices.
The total number of sales of stocks to-
day was 36l.5O0, including $500 Atchison,
1880 DO. preferred, 600 Chicago, Bur-
ington and Quincy, 15,570 Louisville and
Nashville 1887 Northern Pacific, 9752
Rock Island. 2O.l50 st. Paul, l5.SSl Union
Pacific preferred, $50 Tobacco. 1900 Bay
State Gas. 5,2l5 Federal Steel 1881 pre-
ferred, $3.50 Peoples Gas. $500 Sugar.
MONEY AND EXCHANGE.
Money on call steady at per cent
prime mercantile paper. 2a4 per cent.
Sterling exchange easier, with actual
business In bankers bills at $i.S LA
A.s5 l-2 for demand. and A.2qA.21-i for
sixty days; posted rates $.8 and $iS6 IL;
commercial bills. $tslQsil 1-2.
Silver certificates. CD 1-2a6l, bar silver,
GO rs; Mexican dollars. II IA
Government bonds steady: State bonds
inactive; railroad bonds strong.
BANK STATEMENT.
The weekly bank statement shows the
following changes:
Surplus reserve. decrease. sOl1,2J0.
Loans increase. sg.O22,;DO.
Specie. decrease, 81 .022. 500.
Legal-tenders, decrease s0lo,30o.
Deposits. increase, S,gl2G00.
Circulation increase, Sl55, 800.
The banks now hold $l5.0ll so in excess
Of the requirements OF the p per cent.
rule.