Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-12-10
STOCKS ANIMATED.
LIQUIDATION IN SUGAR SPREADS
CONTRACTION OF WEAKNESS.
PRICES BREAK THROUGHOUT LISg.
Tobacco Keeps Close Company WIN
the Leadcr-RaiIrOnds Ffrmer Th"n
Jndustrinis-Whent Firmly hei"'
Hut Eases on Somewhat.

NEW YORK. December 9.-To-day $
short session OF the Stock Exchange was
an animated one. due in great part 70
the continued decentralization among some
| OF the Industrial stocks. The determined
Humiliation manifest In Sugar gave the
tone OF the market from the opening, and
soon spread n contagion OF weakness all
through the Industrial list
Opening sales Of $500 shares ran the
price down from 14G to lfii9. compared
with 1i7ss last night The stock feh 10
1928 before the appearance OF the pank
statement. and the covering movement by
the bears which followed that publication
rallied the price to above III, together
with the whole market.
The heavy offerings OF Sugar brought
out by this advance again decided the
tone Of the whole market. and broke
prices throughout the list. The last sale
Of Sugar was at 1891. the lowest at a net
decline OF Sik American Tobacco Kept
the leader close company. especially III
the late break. it sold at l0', ana on,
che next and last sale a 10i. n net loss OF
~. There were wide breaches at otner
points in tho list OF Specaltes, notaDly IN
Ncfr0DOlitan street Railway. Whlcn l.H
am extreme 81 The Steel and iron STOCKS
continued weak. but were not so Vulntr-
able as tneN nah D'e'l itN'h''f 60
held the late rally better than other ope-
ciatics. .,,,,,n
RAILROADS THE FIRMER.
The railroad stocks were relatively much
frmer than the Industrials. ne "
IRENE declines reached point III Only
few Of them. The late rally eiU I'M
prices Of many railroads above last nlsu.,
and net gains were saved for a nuInDeI
NJ them. Bears had commenced 70 cover
before the appearance Of the banK stale-
mont. and their buying became raIheI
more urgent after the statement, OWLS y,s
10 tho unusually small loss in cash. inc
general conviction that the return was
untrustworthy as an index OF the rear
condition OF the banks helped 10 the
final yielding OF prices.
The outgo 20 the Sub-Treasury alone
which Is a matter OF record. has amount
ed 10 nearly 100000 since the last re-
turn. whereas the statement indicates
ONLY g SIS 400 altogether. That there mas
been q wholesale contraction or loans Al
week has been pa1pable In the stoSk
market and that actual new loans sor DS
the few banks holding the surplus reserve
can have Offset the contraction so Iar
as 10 bring the latter down TO %93'go'
was scientifically regarded by the specula-
tive public. Under the belief that tne
vaCaries Of the average system OF COM
nrltation cloud the results IN the state
ment. the market closed with pressure 10
sell in full force again.
BOND MARKET NARROW
The bond market has moved in sympa..
tbv with stocks on n smaller volume OF
business and over a narrower range OIL
prices. United states old As. new -,
and SIS advanced q. and the %s Is, in the
bid price.
The total sales Of stocks to-day were
$4,000 shares. including Atchison, pre-
ferred. 80: Chesapeake and Ohio, so;
Chicago. Burlington and uincy, lVlio;
Delaware and Hudson. 1857; Mammalian,
~ 9g5. Netropolitan street Railway, 1850;
pornsvlvanla. G.61O: New York Central,
c9i0. ST. Paul. 1920: Southern Pacific,
2iC5O: Union Pacific. 1G425; American
steel and Wire. y 2o0; American Tobacco,
1894: Brooklyn Rapid Transit. 9nlco'
continental Tobacco 16 225; Federal Steel
II 600. Pacific Mail. 500: Peoples Gas lO.-
250. Sugar, 5000: United States Leather
10 go: do. preferred, 5000.
MONEY AND EXCHANGE.
Money on call steady at 4 per cent;
primo mercantile paper. 5iA86 per cent.
Sterling exchange steady. with actual
business i'm bankers bills at &Ssg
si0s7s for demand and at S4diI0A6l5
for sixty days. posted rates MSraSf'o''a
and sL87i5: commercial bills NSo4.
silver certificates 59d60; bar silver, 59ls;
Mexican dollars. 47A.
government bonds easier; State bonds
inactive railroad bonds weak.
BANK STATEMENT.
The weekly bank statement shows tho
following changes
surplus reserve. decrease, H,6Hl'o.
Loans. decrease, 1886 800.
Specie. decrease. H,3i5' 400.
Legal tenders, decrease. I,329.9OO.
Deposits. decrease S3,992.500
Circulation, decrease. SG9 500.
The banks now hold s6S9,525 in excess
Of the requirements Of the p per cent.
rule.