The times. [volume] (Richmond, Va.) 1890-1903, 1899-09-20
STOCK MARKET
TOOK A CHANGE
fair Sailing Interrupted by a Heavy
Selling Movement.
PRICES PLUNGED DOWNWARD.
Rapidly Toward the Close aud Many
Earlier Gains Were Completely
Wiped Out-B0nds Held
Somewhat Better.

NEW YORK. Sept. 19-The delicate
tension Of tho speculative temper was we"
illustrated by the course Of to-day mar
ket. which seemed 10 be going proapei-
ously on It's way toward iecupti" .'Vw
and recovery IN prices until the iaS' haia
prices were bowled over IN every difec-
lion. ike o set Of ten pins which had been
set up simply TO be Knocked down again
Tho selling movement was in full force
when the market closed. ana prices tend
ing rapidly downward Some or the car
ier gains wero completely wiped out
Tho market gave every appearance OF
having thrown OF the incubus OF the
money scare. Reports from abroad OF
more cOnciliatory attitude on the part OF
President Kruger and the decision OF the
French Government 20 pardon Dreytus
caused a rally IN the foreign markets.
There as well as here the short interest
had been largely OvercXtCndcd. and they
found some difficulty in securing stocks
20 cover short contracts. Professional
operators who had secured stocks of yes
terdays low level had turned Dull, ana
there was a fair volume Of buying orders
in commission houses this morning. at
tracted by yesterdays late recovery IN
prices Prices were marked high az the
opening. and tho trading was very active
for a time. but on a descending scale. AZ
ter prices had gotten back TO near yesier-
days close a demand OF substantial
character developed for standard railroad
stocks. Some OF the sDecialtics. notably
the New York traction stocks, which have
suffered recent violent losses. were mark
"a up rapidly. Late I'm the day very
buoyant tone carried the coalers upward
under the lead of Lackawanna. which ad-
vanCcd an extreme 49, Other members
~ the group rose from 2l3 10 points.
Metropolitan's extreme rise was Dr2'
DrOoflvn RaWd Transit was up az one
time AZ Many other specialtics were mp
between . and points. and tho active
railroads very generally showed gains OF
from I 10 ~. Such was the state Of al-
fairs when The traders began TO take pro-
ITS In tho c0alers and Metropolitan street
railway 10 did not take the bears long
20 wipe ont am Of the gains IN Brooklyn
RAND Transit and the course of prices
turned quickly downward. The selling
movement continued actively 20 the close
Tho early advance In prices was accom-
panied by professions OF confidence that
The money market difficulties had been
passed.
can money ruled at per cent. and
above during The day. The banks are not
losing quite as heavily as last week.
either to the sub-Iroasury or 90 the int
ri0r. But the outward movement I'm
money U.s. more than sufficient 20 make
inrOads upon the legal reserves or the
banks. one OF the vaelries OF the situa-
tiOn as that sterling exchange held steady
= NIIu IN-NaAs VIII HNf lih A'i Af'IiN.'i4
account of over 1900 shares of stocks,
while 20 dropped sharply yesterday ln
snite OF Londons selling of over 10000
shares Competent authorities do not look
for gold imports much later i'm the fall.
Bonds showed gains and held better than
stocks in the late weakness. Total sales,
par value. g. 10000. United States bonds
were unchanged I'm bid quotations
Total sales of stocks were 1i1OoO shares,
including Atchison preferred. 2S.7G0; Bur
UngtOn. 2411O: Rock Island. lO3So, Della
ware and Hudson. 5000. Delaware, Lack
awanna and Western. 1850. Louisville
and Nashville. 9MO. Manhattan 39,Ho1'
Metropolitan 84111: Jersey Central, IS
18S. New York Central $3.50; Northern
Pacific $3.50. Ontario and Western. H.
12j. Pennsylvania 5.1OO. st. Paul, 2S,l-3.
Southern Pacific. % 100. Southern railroad
preferred. G52j: Union Pacific 10;
Union Pacific preferred, 134oo; western
Union. 100. American Steel and WIRE
1910. American Tobacco 30 $50. Brook
lvn Rapid Transit, 12052O. Colorado Fuel
and Iron 1850. Continental Iopacco
=. go. Federal Steel 1899. People Gas
- 2GO. Sugar 234s5. Tennessee coal ana
Iron. 2O775. United states Leather, TO-
100. do. preferred. b.oJD.
MONEY AND ExCIIANGE.-Mone on
cali firm al cal per cent: last loan at q
per cent; prime mercantile paper. 4".i'
per cent Sterling exchange STEADY WIN
actual business in bankers bills at si.e5i2
QlS5at FOR demand and at S4NZd4o-'t TOT
sixty days. posted rates. S4Sft+ So ana
81 Songs 81: commercial Dlus' St.ol
s1I.. Silver certificates 590oVtl, par SHE
Yer. - 111G: Mexican dollars. 4Fe. Gov
crnment bonds steady; state Donds mac
tive. railroad bonds strong.