Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-10-31
STOCKS END :. Low.
THIS AFTER UPWARD MOVEMENT
EARLY IN THE DAY.
CALL MONEY RISES VIOLENTLY.
:" Goes as High ms 80 Per Cent, hut
--~-es mt eo-wheat practically
unchansed-corn Lose. a-s-Pro-
visions Unchanged to sc. Higher.

NEW YORK, October 30.-Prices OF
stocks moved upward in the early deaf
ings to-day, according TO the general an
ticipaHon. but contrary to expectation.
a serious obstacle TO the advance was
met I'm violent rise in the rate for call
money. The advance did not extend far
into the second hour, when the market
began to drift downward and met no of-
fectual check until the close which was
a. about the lowest point and with prices
still giving way to pressure. No serious
net losses are shown in the railway list,
but the earlier gains, which amounted
to a point and upwards In many cases,
were pretty generally wiped out.
The market opened with a strong and
animated tone, and a large volume OF out
side buying orders invited by the un-
expected strength Of the Saturday bank
statement. The demand was pariicu-
larly large for the Changers and south.
westerns and for some OF the south .fd
Railway understandable Louisville vhirH
was up l3s at one time. This stock re-
sisted the later depression with some sue
cess, but closed y below the best.
INDUsTRIALs ALSO UP.
Even the much-hammered Industriols
had some share in the early strength.
Sugar rose an extreme points before
steel stocks had short-lved period q
vigor.
Pressure promptly developed against
| steel and Wire, and II was weak Tor the
rest OF the day. affecting other members
| Of the group by sympathy. Federal steel
was exceptionally firm. The Leather
| stocks continued 70 be largely deait IN,
| but the gain in the preferred was ehtirely
| pancr stocks were fercely attacked, the
| common being forced down 3i2 and H..
preferred 4 points. The latter tecoNeieu
| q Of its loss. ..-,
| RITMORED FALL OF IADYSMITH.
Rumors coming from Holland OF the ne, iaiI
! Of Ladysmith were without mucn eHeSt.
/ as London seeed disposed TO dlscredl'
| them. e.. ~,
The September statement Of st. PAU
| had q discouraging effect on speculatoIs'
| showing as IL did the large increase III
| gross earnings ObliteTatcd by the heavy
| Increase i'm operating expenses, so thal
| the net earnings for the month were over
| 5000 COO less than In september OF last
| year. The effect was especially marheu
| upon all the grain-carryln9 ROADS.
| The days events in the oaI-monfy
| market showed that the extent OF recu-
| peration by New York banks was gross
| IL exaggerated in the first enthusiasm
! over tho Saturday statement. The rate
| opened at per cent, and after dropping
| 10 10 rose violently in the late deal
| ings to 90 per cent. Bids We're made Tor
| 40 per cent, but the closing ransaGtioh
was at % per cent 1t was stllklhs
| the money market to MAINTAIN an acllVe
| speculation.
EXCHANGE FALLS SHARPLY.
| New York exchange fell sharply at some
| southern and western points to-day. al
| though II was harder at Chlcago ana
| Boston. 1t is evident that the demands
| from the interior are not yet eXhausif /.
| The Sub-Treasury has absorbed con
| siderable sum from the banks since Fri
| day. and some extra demand Is coming on
| the market for November lst settlements.
| Wall-street opinion upon the money out
| look fell quickly from extreme optimism
down into the minute figures of pessi-
| mism.
| Bonds moved in sympathy with stocks.
| but the early gains were not entirely
wiped out in the late reaction. Total
| sales par value. S,lij@0. United states
! IS. registered. advanced II, and lnited
States rs, coupon, and Ss, Is in the Did
TOTAL SALES.
| The total sales OF stocks were 6SlOO
| shares. including AtchsOn, $50; Atchison,
preferred, 57256; Chicago. Burlington ana
| Quincy. 2i6e5; Chicago, Rock Island and
| Heci6c e975. Iouisville and Nashville. 81. =
| rs: Manhattan $3.50; Missouri Pacific,
| % 255: Missouri Kansas and Texas, pre-
| ferred. $780, Norfolk and Western, 300;
| Northern Pacific. 1880: Ontario and West
| ern, $500; Reading, first preferred, Zs,3lO;
| St. Paul. 2247O Southern Pacific, 25@0.
| Southern Railway $685.: Southern Rail-
| way. preferred - $50; Union Pacific, d.
| rs; Union Pacific. preferred, $50; Ameri-
| can Steel and Wire 22.3f0; Brooklyn Rapid
| Transit. S0.7j0: United States Leather. 30 o.
| rSj: do, preferred. 1850; Sugar, 57OJl;
Peoples Gas, 500
MONEY AND EXCHANGE.
Money on call firm at $3.50 per cent.
| last loan at %; prime mercantile paper,
! 5n5ia per cent.
Sterling exchange easy. with actual
| business in bankers bills at $i665sN$4.S63t
| for demand and A80ASh for sixty
| DAYS: posted rates. SLSfJS4S4i2 and $3.50
| 81. Ss15: commercial bills A.S2i2.
| Silver certificates, 5SG59i2 bar silver, 90;
| Mexican dollars, 4T4.
| Government bonds strong. state bonds
| Inactive railroad bonds firm.
New York stock Quotations.