Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-01-06
STOCKS AND BONDS.
NOTABLE GAINS IN sPECIALTIEs
AND SOME RAILWAYS.
GOLD ENGAGEMENTS OF Si,5OO,OO0,
These Overcome Rcactionnry Ten
dency of Forenoon, and Set the
Market Forging Cpward-Grnin,
Provision, and other Markets.

NEW YORK, January b.-Notable gains
were recorded IN the specialties and some
OF the railways to-day. The announce
ment OF gold engagements OF a million
and q half overcame a reactionary ten
dencv In the forenoon and set the market
forging upwari. which course continued TO
the close The conditions OF the ex-
change and money markets do not seem
to warrant the expectation that the i'm
portatiOn Of gold will he sustained
movement. the theory being that our large
balances OF trade would not be drawn
upon largely while money can be loaned
at more profitable rates abroad. The
lower range of London prices gave de-
clining tendency to early transactions
here Manipulation Of the specialties, To-
bacco. Brooklyn Rapid Transit. and Peo-
pies Gas gave better tone TO the rail-
ways. but on proft-taking there were
some very substantial losses.
BULLS TAKE CONTROL.
With the announcement of the gold Inn
ports in the afternoon. the bulls had their
own way. especially in Manhattan, GEN
eral Electric, Brooklyn Rapid transit
Pittsburg, Cincinnati, Chicago, ana St'
Louis, and Colorado Southern. Inc Ial j.
way shares moved very slusslsnly uhui
arose for Louisville, Rock Island anu
the southwestern group, excepting TeXas
Pacific. which broke badly at the emu
on the publication Of report that Man
haitian Elevated was to De eiec'il 10y y
equipped by General Electric, these
stocks which had each advanced points
presumably on early information OF the
reported deal. receded Sharply, on pIoht
taking. Reports of the posslDlnty VI
Brooklyn Union Gas increasing It's diVi-
dend rates and forming advantageous al,
nances bettered the price OF the STOCK
points Hooking Valley securities were
weak. on the report Of the REORGANIZATION
plan. which. the movement IN tne com
pany's stocks and bonds indicated, was
more drastic than expected. Inc common
stock dropped / SIS. the preferred 4, the
per cent. bonds %, and the os 10 WIN
subsequent recovery in each case eAcePl
the SIS, which reganed IL of their carrier
J loss. Brooklyn Transit was very strohs
rising 38t Later i'm the day II was salC
| that while the contract TO equip Manhdt
| tan electrically had not been given ere
/ donce. it was pressed IN General blec'II'
/ interests.
BOND MARKET STRONG.
! The bond market was under pressure
during the forenoon, but in the late SEES
/ sion heavy purchasing orders were uls'
/ tributed. which carried the level oil
prices above yesterdays close, and I'M
parted a strong tone .generally' Iota
I (coupon) reacted u, and the 8s IS. Ih'
| new As (registered) and the old AS peS
istered advanced Is in the bid price,
The total sales of. stocks to-day Wer
915. 700 shares including 1850 Atchisoi
preferred); .5.170 Central Pacihc; l5,Z
Louisville and Nashville; 76,520 Manhat
tan: T. $50 Missouri Pacific; 1850 Nilsson
RI Kansas and Texas preferred; 55,%
Ontario and Western, 28.lH Rock Island
1212O Union Pacific; 1922 Reading Us
preferred. 10 800 ST. Paul; 7l20 Union Pa
cifc: 1925 Union Pacific and Denver ant
/ Gulf; Ii. 200 Wheeling and Lake Erie; 81 -
American Tobacco; l9, 400 Bay State Gas
IS. 800 Federal Steel; 1850 Federal Stee
preferred); 1880 Peoples Gas; sos Gen
eral Electric: % $50 Sugar: 5.266 Tennessee
Coal and Iron, and 500 Western Union.
MONEY AND EXCHANGE.
Money on call steady at 2l2QS per cent.
/ last loan at pa per cent; prime mercdn
! tile paper, 3034 per cent
I Sterling exchange steady, with actua
! business in bankers bills at $4S4A4S+S 81.
/ for demand, and s4A4U$4.S2 for sixty
/ DAYS: posted rates, SiS2la and A.S512
! commercial bills, $4.S034 QSASlA.
I Silver certificates, 59l2Q60l2. Bar silver
/ So Mexican dollars, 1875.
/ Government bonds irregular. State
| bonds weak. Railroad bonds strong.