Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-12-30
STOCKS SHOW RELIEF
COMPLETION OF SETTLEMENT FOL-
LOWED BY HIGHER PRICES.
MONEY RATE GOES UP TO iS.
This because of Fact That Loans Go
over Until Tuesday-Wheat I'm
changed-Provisiohs Practically So.
other Markets.


NEW YORK, December 29-The New
York stock market testified It's relief over
the practical completion OF the yearly set
Element by bidding up prices in a striking
manner to-day. There were signs Of hesi-
tation and reaction at one time, when
the money rate hurried 10 10 per cent.
simultaneously with the appearance OF
the statement OF November earnings OF
the Chicago. Burlington and Quincy rail-
road. This statement shOwedga decrease
in the surplus earnings. after charges for
the month, of over $4,000; and, coming
on top OF yesterdays similar exhibit by
the Chicago, Milwaukee and st. Paul,
made a natural impression on sentiment
as going 10 show the inevitable effect OF
the high prices of material upon the ope-
rating expenses OF railroads. The
Changers were most affected, but prices
I'm the railroad list generally ran down 10
about last nights level. The completion
of the period of money pressure. how
ever. overshadowed all other c0nsidera-
uons, and gave a feeling on the part Of
the securlty-holders closely akin D eX-
ultaton
About the time the London Stock Ex-
change closed the most notable movement
OF the day was inaugurated The fact
that the periodical Stock Exchange set
Element was completed with no failure Of
great Importance was a gratifying sur
prise in the financial world. The internal
tional stocks in the late buying were the
favorites in anticipation of a demand to-
morrow from London.
Although the call-money rate advanced
eI.rvft. a., 4 ,uI,v ffcooffpf rotau frpu-
ped off fully II per cent, with a resulting
advance in the long sterling rate in New
York. In our own market loans made to-
day will carry over until next Tuesday.
10 was this fact which ran the rate up TO
Us per cent.
FAVORABLE STATEMENT EXPECT
ED.
A favorable bank statement is counted
on for tomorrow, ia spite or the TACT
that some 100000 o. gold exports Will
figure i'm the statement.
In The late strength Of the market the
trunk lines Were very conspicuous, lea
by the Baltimore aud Ohio and NOriolh
and Western stocks. \ rumor was cifcu-
lated 10 the effect that the plan for haf-
Doc announced, and that IL would include
the Norfolk and Western, as well as the
Baltimore and ohio.
Gains In the Specialtles were larger
than ln the railroads.
Some minor bonds showed declines, but
the general tendency was upwards. Sales,
g. 10000 United States old 4s and 5S &C.
cllned IL. and the IS is In the bid price.
The total sales Of stocks to-day were
5Gl so shares. including Atchison, prefer
red. 25.292, Chesapeake and Ohio, 0OVJi
Rock Island. 100; Louisville and Nash
villo 9S5O: Manhattan, $500; Metropolitan
$3.50; New York Central Tex. diy), $3.50
Norfolk and Western, 6.3Sj; Pennsylvania,
8 -; Reading, first preferred, 100; 81
Paul, 1855; Southern Pacific 1880
Southern Railway, preferred, $50; Union
Pacific, 1878; Union Pacific, preferred
100: American Steel and Wire, 1870; To-
bacco, g POP; Brooklyn Rapid Transit, &C.
2i2: Colorado Fuel and Iron, 6GlO; Fede-
raj Steel 1890, Peoples Gas, 1886, Sugar
G. ESQ; Leather lO,3S0.
MONEY AND EXCHANGE.
Money on call, firm at 6u1O per cent
closing offered al 20 per cent; prime mer-
camille paper, per cent
Sterling exchange firm, with actual bust
ness I'm bankers bills AZ SiS1 l-4HS46 j..
for demand, and $tM 3-tg$LS2 for sixty
days; posted rates. sAs2 l-2Q$i3 ano
S. IS l-2; commercial bills, $3.50 1-4QSAS) "a
yer. % IL Mexican dollars AZ 10
Government bonds weak. State bonds
weak. Railroad bonds Irregular.
BANK CLEARINGS.
The total bank cleanngs for the week
were 81 90. s75 22y, an Increase Of 1873 per
cent. Exclusive of New York city, $5Sl,
59j, 19 an increase OF Ill.
Now York stock ouofnfions