Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-09-24
STOCKS QUIET DOWN.
THE RECENT TEMPER on CHANGE
DISAPPEARED YESTERDAY.
OUTLOOK WAS BRIGHTER
This Caused an Advance Early in
the Trading-Bnnks Are Much
and Bonds.
and Bonds

NEW YORK, September 23.-The tone
Of the trading In stocks was quiet, by
comparison with the recent excited tenn
per on the Exchange. But the local trac-
tion stocks continued to reflect de-
cidedly uncertain frame OF mind. Brook
Ign Rapid Transit refused TO go up more
than a point, and then slipped down be-
low last nights level. Its extreme de,
cline was points, and even with final
rally on covering by shorts its net loss
IS points.
Metropolitan Jared better and has
gain Of over points. The other New
y ork city stocks fell of In sympathy
with Brooklyn Rapid Transit, and the
stocks in the Flower group were inclined
to weakness all around. There was no
marked strength at any time.
THE TRANSVAAL CRISIS.
Tho early advance was nominally In
sympathy with the hope expressed in
some quarters abroad that the Transvaal
question would find a peaceful solution
after all. Earlier gains had been very
generally wiped out when the bank state
ment appeared. The first effect Of the
statement was a rally, due to buying by
those who never look further than the
surplus reserve figures. An analysis OF
the statement failed to develop any very
encouraging future in II, and prices fell
away again TO the lowest OF the day,
and closed there except for a Few spe-
cialties. which rallied. The banks are
stronger by a wider margin or surplus
reserve IMAM last week, Dul lHc h'hND-
ment shows a decrease in cash some
what less than had been anticipated.
Counting this weeks reduction or W.
500 500 in loans. the total loan contraction
by the clearinghouse banks since august
26th aggregates $3i S64 800
INCREASE OF CIRCULATION.
Much was made early in the week or
plan for relief Of the stringency by an
increase OF national-bank circulation III
will be observed that the total increase
in circulation, according TO the statement,
amounts to but $751; for the week.
The bond market has moved generally
I'm sympathy with stocks this week put
has not been as active. nor changes as
wide. United States AS advanced IA, but
old As. registered, declined IA and the 3's
Is in the bid price.
The total sales Of stocks were 3l5.40o
shares. including Atchison. preferred.
Metropolitan. 1851; Northern Pacific,
G 100: St Paul. 1850: Hoop, 1900: American
Tobacco. $40: Brooklyn Rapid Transit,
80 .275: Federal Steel. $3.50; Sugar, 1850;
United states Leather, 26765; do, pre-
MONEY AND EXCHANGE.
Money on call was easier at 3 per cent:
prime mercantile paper, 1890 IL per
cent. ,
Sterling exchange steady, with actual
business I'm bankers bills at AS5 l-fD
NS51-2 for demand and at StSl 3-4a4S
for sixty days; posted rates. $ISqN.8 IL
and 81 IS 1-2qA6; commercial bills, SiNl-
silver certificates. 5s1-2d59; bar silver,
IS SIS: Mexican dollars. AZ IL.
state bonds inactive; railroad bonds
strong. government bonds easier.
BANK STATEMENT.
The weekly bank statement is as FOL
lows: 81, 80, ,-o
Surplus reserve. increase, S.6SS35O;
loans decrease. 81. S665OO; specie, decrease,
q as 400: legal tenders. decrease, 81 2n, 600;
deposits. decrease, $40 $1,000; circulation,
increase. $500
Of the legal requirements.