The times. [volume] (Richmond, Va.) 1890-1903, 1898-01-30
FlNANCEAND COMMERCE
rRR CLOSING QUOTATIONS. Or
MONET.
OAsrings and Sales NJ the Richmond To-
bscco Exchangs-Internsi Revenue
Collections Foreign Advances.


houses over night were TO sell in order
20 take profi,s. First sales were very
general at traction below last night
price, and 2oVuO shares OF New YORK
Central thrown on the market drove
the price of that stock DOWN -. The mar.
ket steadled almost Immediately. ana
recovered gradually TO above last nignt
level. net gains being, however. very uh-
equal. Lake Shore was most conspicuous
In It's movement, rising ga TO leai2 on tne
reported plan 10 exchange ZOO OF New
York Central BY per cent: deoentuIe
bonds for each 500 OF Lake shore STOCK:
Another strong element I'm the market
was Louisville, which advanced over a
point on reports that plan for retunding
obligations at a lower rate OF interest
was under consideration. rms STOCK was
tie leader Of the market In point OF ac-
tivity. Northern Pacific preferred con-
trued 20 advance on well-dcfned rumors
fiat an additional dividend is IN pros
pect. Denver and Rio Grande preferred
Northwest and number of less prom-
nent stocks showed notable gains. These
elements OF strength served TO sustain
the market and TO counteract some ten
dency to sluggishness and heayiness IN
she general list so that net gains were
achieved IN most stocks though they are
ANAL outside the spec nj cases mentioned.
Quotations from London this NOR ing
showed some depression In ire MARIE,
for Americans there which was attributed
20 the apprehension awakened IN me
British mind by yesterdays vote on the
Teller resolution In the Senate. The week
opened with continued tendency toward
react on. and the hesitating tone In the
early dealings on Monday gave way 10
very positive weakness upon the an
nouncement that the Maine had been or
dered TO Havana. This sharp decline
seemed to clear the speculative situation
nv giving the shorts an opportunity 70
cover. and by shaking out the weaker
narrow margins of holders who were re-
rarded as a menace 90 the success or any
novcment for an advance. The character
OF the buying al the decline made II very
evident that powerful interests were tax
ing up heavy lines of stocks with conn
dcncp ard their aggressive manipulation
sor an advance was evident during the
remainder OF the week. The weeks
statements Of railroad earnings nave
heer. 0s rule. very favorable. notapN
Northern Pacific end Pennsylvania. the
la,'e- b1ino REGARDED ne an esDecia'ly
reliable index Of tho countrys ra .lroad
husiness. All Of tho securities OF lhc
Kansas and Texas RAILWAY company
have been verv strong during the WEEK
on the improved financial condition SHOWN
nv reports for the year thus FAR. Inc
hull operators made use OF reports IN
nrtlclration Of the Presidents speech on
Thursday right ANA some of FRIDAY
selling was due 10 realizing upOn inc o.
livery % the specch The T'a~fe' 40
vance was helped very materially ~ the
large luvin~ for London account on IueS-
day ard Wednesday. but The almost
equally heavy selling on The succeeding
davs from the same source mao. u. 'Nl-
dent that the speculation was only TOT
short turn Fhe tone Of the money mar
ket hos worked easter. nOtWihstanding
fNn ,~i.hfrawat from Nh" hanks OF me
nnal 10 per cent. Of. the Government ur-
posts on the Union Pacinc payments.
II is averred that there - abundance OF
morev and an easier feeling. Net gains
In the general list extend up 10 > points.
and I'm spocialt'es TO Al, in Lake Shore
srd Gis in New York Central. Kansas ana
lit nd a -
Illinois stocks Rock Island. Northern Pa
cinc preferred and Northwest also maoe
win Gales of bonds for the week of o
mar value of over SGOOOoOo. business IN
That d partment Of the exchange exceeds
al previous records both Toy week ana
for a month Thus far N the month the
extreme gains have been somewhat re-
,iuced by profit-taking hut prices are ma
terially higher on the week United
States old coupon are x higher bid; DO.
registered ana new Is coupon. Il higher,
and the IS u higher bid. 49,.
Tn, total sales of stocks to-day were
o0i 30 shares. including Chicago Bur
lineton and Quincy. 100: LOUSY lie ana
Nashville. q 40 Manhattan Elevated
512O: Missouri. Kansas and Texas pre-
ferred G3lO: Sew York Central. 2OSp;
Northern Pacific preferred. 1876: ST
Paul. l0.Gl0: Union Pacific. Q 500: Peoples
Gas. SOL, Sugar, a.V>O'
MONEY AND EXCHANGE Money on
call easy at Is, per cent. last loan IA per
cent: rrime mercantile paper. |ui per
cent. Sterling exchange steady w Win &C &C
demand and at 4S2i@NtS2M for sixty DAYS;
,posted rates, 4S3u4S3iA and 4S1lani9G;
commercial bills, 4Slkn4S2. silver certiA-
Gates 5cAgo'A bar sdySg mi M Tniro cad
bonds hrm; Government bonds Irregular.
The weekly bank statement shows the
following changes:
Surplus reserve. Increase ...... 81 ,33i 100
Loan, increase ..... ............. 2,3y9 bpl
Specie, increase ...... .......... Z,ff5,-p
Legal tender Increase .......... 3's9i 30
Deposits. increase .............-. Sui lb
Circulation. decrease ............ 12i,WU
The banks now hold So. 500, $50 in ex-
cess Of the requirements of the - per
cent. rule.
the Associated Banks for the week end
ing January 20th. while il does not show
the enormous increases OF the previous
week. indicates that money is still flowing
heavily to this centre The Gain In caSh
for the week was S6.331,l0O, of which
nearly S2JOONuO was specie. The latter
represents western receipts 10 large
extent. following Australian remittences
The increase I'm deposits. amounting TO
SS011 400. tied up over S2.On,OoO OF the
cash received so that the surplus reserve
Is only $i334 $50 heavier than one week
ago There is no doubt that the eXpan-
mate mercantile and stock exchange
transactions. instead of special operations
and technical manipuiatons. such as have
been in evidence since the Union PACING
sale. The loan Increase Is scattered
through larger st of banks than usual
and the totals are largely due To gains
made by the National Union. the Western
National and the National Bank of the
Republic; II Is worthy OF note that the
hank which has been most prominent In
laundering the Union Pacific deal in
creased its loans four million. follow ng
the retirement OF overdue currency Sc
curiti,s held by the treasury on its ac-
counts Of deposits. The deposit items of
interior banks show the highest percent
age OF gains. The future. in view Of tie
CONTINUED piling up OF idle money In
New York, appears 10 favor easier money
II should not be forgotten, however. that
considerable OF the surplus cash In banks
belongs TO the Treasury. and is subject
10 It's withdrawal. The commercial de-
mands are also heavier. and whereas the
loans of the banks during January. 1891
remained stationary. VIII le the surplus
reserve increased twenty-six millions. The
loans I'm the same period this year have
expanded eighteen millions. willie the
exc IS cash shows gain OF twenty mil
lions. Thus. while the supply Is n ex-
cess OF the demand. the latter Is mmoas-
ureahly more pronounced tran at the be-
ginning OF last year. IL Is diiicult 10
see. however. where the nope OF rnucn
flrmer money markets this season ti~ds
foundation. II interest rates 80 levond
n defined line gold imports must follow.
Only that the EXCHANGE situation is now
under strong control. some Interesting ue-
yelopments In the way of unreasonable
infer-transfers might be possible.
Closing Stocks
Atchison 49,. "..''. '''''.''''''' ~