Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-01-04
MARKET QUOTATIONS,
REPORTS FROM ALL GREAT DUsI-
NESS CENTRES OF THE WORLD.
Prices of Money, bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce, &C., Foreign
and Domestic.
and Domestic.

NEW YORK. January 3.--The money
market failed to show an easier tone
to-day, and the January boom in the
prices Of stocks, which some people had
expected to begin, failed to arrive on
this. the first business day OF the New
Year. = On the contrary there was quite
a furry in the money market before the
day passed, and the calling of loans pre-
cipitated something very like a squeeze
The rate for call money ran up to per
cent. and loans were placed at that
amount. though offerings were made later
at 2ia per cent. There was no actual
! loan reported during the day. however,
at less than 2lz per cent 1t is diff
cult TO say how far the low rates at the
| close may have been maniDulatve. Ger
tainly, the stock market all day did not
! show evidences Of any great plentitude
Of funds available for speculation.
The exchange market hardened, the
actual rate for long sterling rising to
1874 Ia This was said to be due to an
investment demand based on a presump-
ton Of easier rates of money here In the
near future and looking 10 the lending
Of money abroad a perccptible easing
Of money I'm London and Berlin did not
serve to interfere with this demand.
The disbursement of January interest
by the government and the further sums
paid out for redemption of Pacific bonds
were expected to afford relief 10 the
money market to-day. and to Offset the
payment of $S.5O0000. which is to be made
on Wednesday By the Union Pacinc syn
dictate TO the government, being the maj
payment on that account. Whatever adj
dtional sums were released TO the money
market to-day, the large operations pend
ing seem TO have made necessary the
shifting OF loans which necessitated the
stiffening of rates.
As bearing on the future of the money
market. il is important to bear in mind
that the government now has on deposit
i'm New York banks upward of s33.OO0,OoO.
IT is by Sub-Treasury officials said that
the government is not likely to take up
these deposits for a reasonable time 10
come: but, on the other hand, 1t lies
within the option Of the banks to sur
render the deposits by taking up the
bonds which they have placed with the
government as security. Such surrender
Of these deposits would naturally tend
TO sustain the rates for money in the
market.
The situation in the money market
kept the tone Of stocks heavy and re-
stricted the trading within narrow limits.
The heaviness was added 10 by the
pessimistic utterances Of the president Of
the 81. Paul. as 10 the improbable nature
of the transportation business ut the pre-
vailing rates. Even local securities fall
ed TO benefit greatly from the recon-
mendations IN the Mayors message,
prices being kept down by realizing on
lines that had been bought in anticipa-
ton of the message. Foreign markets
failed to reflect any apprehension on ac-'
count Of the situation in the far East.
Liquidation in the Changers here was
quite heavy, especially I'm ST. Paul. and
declines Of about a point are shown
throughout the group.
The bond market was dull, but prices
held firm. Total sales Sl.72O00. United
States old rs, registered were Ia higher
bid. and do, coupon, is higher. ex-divi-
dend.
The total sales Of stocks to-day were 49,
coo shares. including Atchison, preferred
3 200; Chicago. Burlington and Quincy D.lOl
] louisville and Nashville. $40; Manhattan,
214l5: Metropolitan Street Railway, 1854:
Missouri and Kansas. preferred, 1850;
Northern Pacific, $3.50; Northern Pacific,
preferred. 4.227: Rock Island, 5,697; st.
Paul q. 1853: Chicago Great Western, 9O7; !
Peoples Gas, 5.593; Sugar, 1880; Western |
Union. 1891.
MONEY AND EXCHANGE
Money on call firm at 1-204 per cent; /
last loan. 31-2 per cent; closing onered /
At 2l-2G3 per cent; prime mercantile .
paper. 3 l-20i3-4 per cent.
Sterling exchange firmer. with actual .
,usiness in bankers bills at $i.Si 7-S0SiSj +
or demand. and Si.S2 l-fas4.S2 3-S for sixty .
,avs. rosted rates. $fs3 and $i.S5 12QSiS6; /
commercial bills AS.
Mexican dollars, IS Ii Silver eertih-
.otes II 1-4a57 SIS. Bar silver, IS Is.
Government bonds firm. State bonds
hill. Railroad bonds firm.
1921. ...rl....L .,lrnr ArInN-I