Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-01-29
STOCKS IRREGULAR.
TONE OF MARKET AT CLOSE,
THOUGH, STRONG.
S0ME RECESSIONS IN RAILWAYS
Southern, However, IL Among the
Properties Reported StrOng-Pro-
nounced strength Chnracterfzcs
the Bond TradinG-Other Markets.

NEW YORK, January &-Ihe market
was quite irregular to-day. The opening
was strong, in spite of the irregularity
of the London market, because, in part
Of the absence Of the disquieting Philip
pine advices, which had apparently been
expected by the leaders, who started 10
cover short contracts. Presently there
was renewed attack on values on pre-
dctions Of an unfavorable bank state
ment, but when the statement appeared,
it upset all calculations by being very
favorable This was the signal for the
repurchase of stocks sold earlier, which
gave a strong tone to the closing.
There were some recessions in the rail-
ways, however, on the evening up Of con-
! tracts for the week Sugar and Glucose
/ gained over a point each. but Ii seemed
to be the impression of traders that SUI
gar was advanced in the interest of sell
ers. while in other quarters the simulta-
neous advance of Glucose and Sugar was
| surmsed TO presage favorable trade de-
velopments
Among the Pacifics there was an ad-
vance OF a point in Northern and South
ern. The movement in Northern Pacific
was attributed to more confident gossip
| regarding It's dividend standing.
| Pacific Mail was strong on the more
( favorable outlook for the mail SUBSIDY
bill in Congress. Minneapolis and 81.
Louis at one time displayed strength, on
the possibility of the first preferred stock
| being retired. The prospective advance
| in coal rates at western points was re-
! fected in some strength in Reading.
SOUTHERN RAILWAY STRONG.
| Among the low-priced shares ST Louis
and Southwestern. preferred, rose 1
| points and St Louis and San FRANCISCO
! second preferred, 22s American Express
! and Southern Railway were also strong.
| Among the Industrials, American Steel,
| preferred and American salt were weak.
| Canada Southern and Cincinnati ana ST
| Lonis. preferred, also showed declines.
Standard Oil closed 4l2n4i3.
| Pronounced strength characteri2ed tne
| bond trading to-day. During the week the
| market has shown less feVerishness thdh
the stock market Many issues We're
brought prominently IoIMalu' noar95irt,
the dissemination Of rumors regaidlns
their standing toward union WIN other
properties. Dulness was on an immense
| scale with purchases for out-ot-toWh dc-
count exceptionally . .hfsG; n cogpon '' sd,
vanced Il in the bid price. con
| The total sales Of stocks were boz NV
shares including 5,215 Atchlson; "Si9aV -
51iO Chesapeake and Ohio; 1900 chicago.
burlington and quincy; S,i21 Nashyllie;
G375 Manhattan; 5.J65 Metropolitan; i5,4pu
Reading first preferred; 49, Nortiv ~ :
Pacific: S1GO Ontario and Western; afoJ
Rock island: 1900 st. Louis ana san
francisco; u 200 st. Louis and San fran
cisco. second preferred; 6.525 mon IA
cidc; IL 220 81. Paul; l2,sJO Southern "a
cific; L. 22O Southern Railway; l0SoO SOUTH
ern Railway. preferred; JVo lexis odS 5nu
Pacific: 1880 Union Pacihc; l0'g0 bay
state Gas; 1870 Federal steel; 1s,5lO fed-
eral Steel preferred; 1920 Peoples Gas
6 aS BROOKLYN Transit; 1880 Pacific Mail
K. 40 Sugar: II 100 Tennessee Coal and
ron. ii 800 ST Louis Southwestern, aho
q5o Chicago Great Western.
MONEY AND EXCHANGE.
Money on call tirmer at 3 per cent.
urine mercantile paper, 2i2GSh per cent
STERLING exchange steady, win aClud
b,,eincss In bankers bill at $iS$4 aSi.eo toi
9e,nand and at $fS2l4Q$iS3 for Sixty
G9vs. posted rates, $iSl2 and AS5'5; com
mercial bills. AS2 ,.. so,L1,eo1L
silver certificates nOminallY o9,ZuoV12
~ silver. $685.. Mexican dollars; 4rS. =,
state bonds inactive Railroad Dohus IL
} reeIlar Government bonds steady.
BANK STATEMENT.
Tho weekly bank statement SHOWS 'ii'
following changes: on
Snrnirs reserve, increase. N.o3S'd"o
| oans Increase, $6.C200OO.
Snecje' increase &c. SEQ. ,.- 400
| Irgal-tenders increase SlZo1'9Vo'
circulation, decrease, $1,000
1enosits increase. sl2.j63, 100 oo..
iTbe hanks now hold $S9, 2i2'9.o III eN w.
If The requirements OF the % pei '''''