The times. [volume] (Richmond, Va.) 1890-1903, 1898-10-18
WHEATANDCOTTON
BOTH ADVANCED
On Account Of Large Export Demand
for Former and Southern Frosts.
RAlLROADSTOCKS WERE WEAKER
But strengthened at the Close and
Closed Mt Top Prices Exchange
Was Steady - Railroad Bonds
Reflected Stock Movements.

NEW YORK. oct. ia scrutiny Of
the list OF changes In prices to-day show
that nearly all OF the railroad stocks
dealt I'm have net gains OF a small frac-
tlon. Considering the number OF unset
ting episodes in the days market, these
gains, though small, indicate "A strong re-
sisting power IN stocks. Although the
opening was slightly higher In sympathy
with the rise in London. the tendency OF
prices turned downward early ia the day
under the influence OF break IN Tobacco
on apprehension that the Supreme Court
would deliver to-day a decision unfavora-
ole 10 the railroads In the case test the
legality Of the joint traffic associations.
The coalers were subjected to attacks by
the bears and the valuation OF the stocks
tended 20 an extent surprising. even for
these much belaDOrcd securities. New
Jersey Central fen at one 81. the de-
cline IN che rest Of the group ranged from
IL 20 5. The price Of Lackawanna was
bid down over II points from the last sale.
but no stock was offered. About the same
time Metropolitan Street railway broke 3i5
points. and the whole list touched the
lowest prices OF the day. None OF the
net Tobacco was dealt in eX-divdend of
per cent, and Is in addition was
Knocked of the price. Then came sup
port and before the close Of the day the
shorts were driven TO cover by rise
Of 81. Sugar was also well supported
all day. London was a buyer IN this
market. chiefly in the faclncs. The COW
ering by the bears I'm the cOalers worked
rocOveries ranging up 60 "a on New Jer-
soy Central, and the news that there was
no decision in the Joint Traffic Association
case induced covering by room traders IN
the general list The closing was firm
the top. There was notable irmness IN
The exchange market Notwithstanding
very heavy offerings Of bills against grain
and cotton. The demand came from bank
ers and others for investment for the
purpose Of placing loans at the higher
interest rates existing in London and Ber-
In. There as an abundance Of money Of
fering here. and the tendency continues
toward great ease.
Raflroad bonds weakened in sympathy
with stocks but showed partial recov-
cry toward the close. Total sales. Sl.5lO-
oO0 United States SIS registered the
old coupons. and the new as advanced
a. and The 3's. coupon. the old as, regis
tered and the IS * per cent in the pa
price. The coupon 3s sold at lOJis,
which IS the highest price.
The total sales Of stocks were 24t 300
shares. Including zoos Chicago. Burning
ton and Quincy. 12,OlS Manhattan, 6.b'o
Metropolitan 1880 Reading first pre-
fcrred 2OT4j Northern Pacific. 1855
Roading. S 2aO St. Paul 5.4GO do pre-
fcrred. 40 7g2 American Tobacco, eX-divi-
dend, and 2S,92S Sugar.
MONEY AND EXCHANGES Money on
call steady az 202h per cent: last loan
% ~ per cent. prime mercantile paper,
3L1l4 per cent. Sterling exchange frmer.
with actual business I'm bankers bills al
S4sf4G4 sfs for demand and at SlSll9n
( SIS. FOR sixty days. posted rates. S4N-0
= S2f4 and 50 50. commercial bills. $500
e. liF Silver certificates, 59h0G0H bar
eilvor. GO. Mexican dollars 4Gh. Govern
ment bonds strong. State bonds IN active
dcwand. railroad bonds weak.