Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-09-21
STOCKS FEVERISH.
a DAY or VIOLENT FLUCTUATIONS,
AND GREAT EXCITEMENT.
net CHANGES SURPRISINGLY SMALL.
pe"ii"gs I'm BROOKLYN Transit Enor-
"""s-Nnriset n Gigantic specuIa-
i've contest Observation-Disclosures
"eNtNes and Advances.

= u"y OF violent fluctuations and great
SPeC"iatVe excitement upon the stool,
"NNhdhBe. The movement Of nrices wos
80 ieNerish and uncertain that there wa
general disposition among professional
| operators TO close up accounts with the
u"S' AS a consequence the net changes
are astonishingly small. considering the
woe vibration during the day. In only a
lew instances do they exceed fractions
ana though the majority OF stocks are
lower. there is a fair spriukling OF gains
ihere was time in the morning when
long list Of Speciaties had advanced
between TX and 8 per cent. and during
the afternoon they fen very generally 10
as much below last nights level. A range
yi between and points was traversed
VuTlhS the day by a number of Indus
tilal stocks. The railroad stocks did not
move nearly so widely as a rule. but an
trayerscd by some
me index of the market all day was
brooklyn Transit. the dealings in which
were on an enormous scale. IL advanced
n. after the opening. fell "a to a new
low leNeI at 10Y, and then retraced its
course, rising points. TO s9ib and
closing at the high level of the mornins,
ne whole market followed i'm its wake
IN n general way, though its erratic fuc-
pf
an lines The market was a gigantic
speculative contest throughout
Iheie was large selling through COM
mission houses. and the food of Indus
trials poured upon the market was said
70 be due 10 the calling of some large
loans. In which these stocks figured as
collateral, and which had to be sold to
liquidate the loans United States Mill
my, which sold yesterday at &C. sold to-
day at q. after first selling at 25-an cX-
IRENE decline of 81 points. The preferred
stocks, afterselling yesterday at Is, sold
/ to-day at 50. a decline Of p points. The
closing quotations for these stocks were,
for the common, 20Q25, and for the pre-
ferred. 40a5O.
MONEY SITUATION.
There was no important development
to-day in the money situation. Foreign
exchange was somewhat easier more
notably so on Paris and Berlin than on
London. At this time last year, when the
New York surplus reserves had fallen be-
low 100000. gold began promptly TO
come in from Europe Previous to last
september we had already imported over
slOOOCOoO0 Of gold on balance, while thus
far this ycar the excess Of exports of
gold on balance has been nearly 10000
Although the excess of merchandise ex-
Forts for eight months OF this year is
nearly S75.W0O00 less than last year. the
unliquidated trade-balance I'm our favor
thus far this year is therefore. over 500
100000 greater than for the same period
iast year. Nevertheless with call money
ruling at per cent. i'm New York ster-
ling exchange is still t5c in the pound
above the level at which gold imports
began last year o.,
Bonds weakened in sympathy with
stocks. but the movement was not VIDE:
Total sales. par value. Sl.5l2W0 United
states bonds were unchanged in bid quo
tatOn.
The total sales Of stocks were $500
shares. including Atchison, preferred, 81
40: Chicago Great Western, GOV; Bur
ington 81 $50: Rock Island. 1870; Della
ware. I.ackawanna and Western. lO.sil;
Louisville and Nashville, 1880; Manhat-
tan. 1850: Metropolitan. 14535; missouri
Pacific. 1910; New York Central, $ 9oJ'
Northern Pacific. $50; ontario and West
ern. 9225: Pennsylvania, $50; Reading,
1st preferred. u 20; ST. Paul. $3.50; South
ern Pacific 66125: Southern. preferred,
715O: Union Pacific. 6.760; Union Pacific,
preferred 7270: American Steel and Wire,
~ 900. Tobacco. 55 $50: Brooklyn Transit.
2S5 rs. Colorado Fuel and Iron, 1851;
Continental Tobacco. 1850; Federal Steel.
- 720: Federal Steel. preferred, 1929 Peo-
pies Gas. H165; Sugar, 5O92O; tennessee
Coal and Iron, 1920.
MONEY AND EXCHANGE,
Money on call firm at 6d7is per cent:
last loan at per cent; prime mercantile
paper. 4S4g0 per cent.
Sterling exchange easier. with actual
business I'm bankers bills at A.S5i4d&SjA
for demand and &S2GS4S2h for sixty
DAYS: posted rates, A.S3aSIS31a and Sassy
ass 81. commercial bills A.SlH.
Silver certificates. 59d59Si: bar silver,
IS 1916: Mexican dollars an
Government bonds steady; State bonds
inactive; railroad bonds easier.