Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-12-28
STOCKS ARE HIGHER.
BURST or ANIMATION AND
STRENGTH N THE MARKET.
CLOSE At TOP LEVEL OF THE DAY.
No Difficulties in London-Ciose Of
Year Expected to End Period of
stringency-Whcat and Provisions
Higher.
Higher.


for securities showed the effect of the
great relief felt by the dissipation Of seve-
raj factors of apprehension. and prices
mounted upward with increasing buoy
ancy ass the day progressed. The market
closed with a burst Of animation and
strength. at the top level OF the day. Net
gains IN d number Of important railroads
reached points with a long list Of adj
vances Of point OF better. Among the
lndustrials and Specialties the gains were
even more striking. quite "A number Of
these stocks having advanced from TO
lD points as a result of the days trading.
he demand from an outstanding snort
interest 10 cover accumulated the strength
OK the latter group, those which have re-
Gently suffered most showing the greatest
benefit from the days business. brooklyn
Transit was almost "a solitary exception,
and was subject TO vigorous attacks an
day, in an effort 10 uusette the market
and check the advance. But this stock,
although IL ranged over more than .
points, closed with net loss of only a
point
The leading influence in the improve
ment in sentiment was the quiet and or
DERBY manner I'm which the periodical set
Element ON the London stock Exchange
proceeded. Since the last settlement on
the London Exchange Great Britain has
suffered three notable rcVer5es 10 its
arms in South Africa. It's three columns
of invasion have been paralyzed. and as
result alarm spread through the huau-
Cial centres OF the whole world.
Grave fears Were felt that the resulting
snrlnkage in values would prevent many
operators ON the London Exchange from
meeting their engagements az the current
settlement. The news this morning that
no acute difficulties had developed, that
money conditions were easy, and that
prices were inclined 20 advance. rather
than % decline. brought immediate relief
which was promptly reflected az the open
ing here. all along the line.
THE BOSTON FAILURE.
The first check came with the news Of
the failure Of "a Boston stock exchange
house. but the effect of this was only
temporary and slight
The conditions in the money market
were notably easy. and one OF the largest
individual money lenders I'm the street
made large loans TO carry over until next
Tuesday At 6 per cent The current rate
ruled from 4 % per cent.
The close Of the year A. universally eX-
pected TO terminate the period of severe
stringency, 10 DE followed by relaxation,
owing 90 the disbursement OF dividends
and interest which will be ON an unpre-
cedented scale. There was some discus
sion Of the probable amount Of gold eX-
ports on Saturday. These are not now
expected 20 be large on account Of the
easier conditions in the London money
market.
The buving TO cover short contracts. all
though il was a considerable element JIM
the advance. was itself induced by tho
very substantial character of the buying
for long account and the manifestly small
supply Of floating stocks. the uadihs
did not take on any great animation until
near the close. and the individual trans
actions were not on "a large scale. In
fact the number OF odd lots traded in
was a feature " the day ana rehectea
the investment demand 10y buyers VINO
take stocks our of the market TO lock up
and keep.
Investment buying was in evidence also
I'm the bond market wherever the tal DO
prices had offered opportunity 10 secure
q fair return on the money invested. me
bond market was active and strong
throughout Total sales. par value, 81
32000O United States new As declined
a I'm the bid price.
Guiding Atchison. 63l5; Atchison, pre-
ferred. 24,79O; Chesapeake and Ohio, la,l39;
Chicago. Burlington and Quincy. M,l6s;
Rock Island. $780, Louisville and Nash
vile, 1900; Manhattan. 1880; Metropoh-
tan, 1859; Missouri Pacihc' 500. Ne"
York Central $3.50; Norfolk and Western,
5N5: Northern Pacific, 1920, Pennsyl j.
vania, $500. Reading. lst preferred, 1850;
Southern Pacific. 2Al25, Union racine,
8492: Union Pacific, preferred, o.zsi
American steel and Wire. 1850, Amerl-
can Tobacco. $3.50; Anaconda. 1920 Con-
tinental Tobacco. II .12J. Pacific Mail, 6.o80;
Gas. 1876: Sugar C51l5; Tennessee Coal
and Iron. 5000, Leather, lto.
MONEY AND EXCHANGE.
Money on call steady at 4q5 per cent?
Cast loan at Az per cent; prime mercdn-
tile paper, per cent.
Sterling exchange firm, with actual
business I'm bankers bills at yiSlisNSlbfa
for demand and SiSQS LSllt FOR sixty
| days; posted rates, 81 tto-'e anu 'Ao''l'
commercial bills, HsouN.N-
silver certificates, 58i2N&lz; bar silver
gy.. Mexican dollars, 4lh.
Government bonds weak. state bonds
inactive. Railroad bonds strong.