Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-10-15
STOCKS AND BONDS.
MARKET NOTHING BUT 4 CONTEST
BETWEEN PROFESSIONALS.
GAINS PRETTY GENERALLY WIPED OUT
Covering by Bears. However, Brings
Some Prices n Fraction Above Fri
day Night Agnin-Further Loan
Contraction Predicted.
Contraction Predicted.

NEW YORK. October 1.-THE days
stock market reflected nothing but con-
test between professional operators and
these Of not very large calibre. There
were small buying orders at the opening.
for London account on rumors OF a re-
verse for the Beers at the hands of the
British in Natal, which seemed to help
prices to move upward.
The bear campaign against Brooklyn
Transit was successfully prosecuted. and
the stock was a one time forced 22t UNI
der last night. Metropolitan and Man
haitian seemed 10 sympathize, but re-
covered their decline with the final rally
OF rs in Brooklyn Transit. Pullman mas
ADDED ) more points 10 its price and
Great Northern, preferred, 3d. Gains
were pretty generally wiped out after
the publication OF the bank statement.
but covering by the bears brought some
prices a fraction above last night again.
The decrease Of over million In the
cash reserves Of the banks was disap-
pOintment. as experts had figured on an
increase of about that much. Had IL
nor been for n larger loan contraction
than had been looked for, the surplus re-
serves would have been wiped out.
GOVERNMENT RELIEF.
Extra disbursements by the government
during the week. on account OF the de-
NIT VI INC IUsN-ifiAANN AfNitiA Attl'ttN e'tiNA
on account Of pensions. had offset the
drain on account of revenue payments.
50 that the banks have lost nothing 10
the Sub-Treasury on routine operations.
This Is not expected 10 continue next
week and not much confidence Is felt
that the government interest 70 be paid
on Monday, I'm anticipation OF its Gla-
turity,. will avail 60 Offset the drain into
the Sub-Treasury on account Of the sur
plus Of revenue. Neither is there any
hope of duplicating this weeks receipts
Of gold. which amounted TO rather over
&00000, with Foreign gold, small
amount from Cuba, and some from san
Francisco The outlook is for further de-
pletion OF bank cash and additional con-
traction Of loans.
Tho tendency Of the prices Of bonds
during the week has been downward, and
business has been fairly active and well
distributed. United States rs advanced
a. and the old As. registered, Is. The
3's declined i I'm the bid price.
The total sales of stocks were ~ go
shares. including Atchison, preferred
800; Chicago, Burlington ana 9ulney,
500; Louisville and Nasnville, 30,
Mania tan. 6.720; St Paul, 100; Southern
Pacific, $50: American Tobacco, 100;
Sugar, 1850: United States Leather. $3.50.
MONEY AND EXCHANGE.
Money on call easy at per cent; prime
mercantile paper. 5iz06 per cent.
business in bankers bills at $4s65sG4 tGG
for demand and Sis2& 0SiS2la for FiXty
DAYS; posted rates sLs3hQ$lSl2; COM
merciai billr. ANla.
Silver certificates 5Sh0J9; bar silver
5Sk. Mexican dollars AZ.
State bonds inactive. Railroad bonds
irregular. Government bonds firmer.
BANK STATEMENT.
The weekly bank statement shows the
following changes:
surplus reserve increase. S34l50.
Leans. decrease S6SlC00
Specie. decrease. H,9lA7OO.
Legal-tender, increase, ySsj,IO.
Deposits. decrease. S512,yO.
Circulation, increase, $500.
The banks now hold N,lU,3jO IN excess
OF The legal reaulrements.