Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-10-06
STOCK PRICES RISE.
MARKED INDIFFERENCE TO DIS
TURBANCEs IN FOREIGN MARKETS.
MONEY SHOWS FURTHER RELIEF.
Maximum Rate IL Per Cent, and the
Figure Falls Before the Close he
yOus-Other Produce Markets.

NEW YORK, October 5.-The stock
market to-day continued to show marked
Indifference to the disturbances I'm foreign
markets on account OF the war scare and
of money difficulties, as well as to the
continued stiffness Of the local money
rate. Prices dipped at the opening on the
rumor of an invasion of Natal by the
Boer forces, and on the further advance
in the Bank Of England's official rate of
discount. But the opening prices were for
the most part the lowest and the market
quite promptly set about retrieving its
decline. The liquidation for London ac-
count was of comparatively small volume
the sales not exceeding 1900 shares. In
fact. the foreign stock markets seemed
TO take no very serious account of the
strained condition Of affairs, and even
the Kahir mining stocks, which would
be most vitally affected by the war, were
quite firm.
The market for call money in New York
showed further relief from the extreme
stringency. though by no means on an
easy basis. To-days maximum rate was
J. per cent, and the figure fell before the
close below the legal rate.
UNDERTONE FIRM.
The undertone Of the market for stocks
was very firm. This was not due 10 any
large demand, even in the case OF stocks
which moved quite widely, but rather 10
the bidding up of prices by those inte-
rested in securing higher hSuFe LOT
their holdings. This bidGing-up process,
however. failed TO bring out large oHer-
ings. which fact was significant OF the
markets frmness Another was the ldtss
number of stocks not usually dealt IN,
which We're brought into activity, ana
the numerous odd lots which were re-
corded on the tape. The latter feature IS
always indicative OF the presence Oh tuo
bargain-hunter, who is buying stocks
outright 10 hold as an investment; a class
of buyers who do not depend on the
money market for borrowed funds Ihere
is undoubtedly growth OF commence
that the stringent period Tor money Is
over. The demand from tho interior Tor
funds continues large. and may encroacn
ON the reserves of interior banks, loaned
on call in New York. The rising discount
rates in London caused an additional ad-
vance in the rate Tor sterling eAcndhse
here I'm Paris. and in Berlin, and the
weak return Of the Bank or France as
cOurages the idea that either London or
New York can hope for large relief from
that centre.
BOND MARKET DULL
The bond market was very duh. in SYM
pathy with stocks. Total sales, par value
the new As a, and the 3's and Us Is in
the bid price. ~,
The total sales Of stocks were 27. 500
shares. including Atchison, preferred, 10
go: Chicago, Burlington and quincy SzVy;
Louisville and Nashville. 1866; Manhat-
tan. $3.50: ST. Paul, $3.50; Southern Pacific
1890; American Steel and Wire, go
American Tobacco. 221l5; Anaconda Min
ing Company. 500; Brooklyn Rapid Tran
sit 22.G5O; Continental Tobacco, $500 Fed
eral steel. SGlj; Peoples Gas, $3.50; sugar
OSLO. Tennessee Coal and Iron, 1850;
United States Leather 1880; United
States Leather, preferred, $3.50
MONEY AND EXCHANGE.
Money on call firm at 4dl2 per cent;
last loan at per cent; prime mercantile
paper, 5l2H6 per cent.
Steriing exchange firm, with actual bust
ness in bankers bills at S4SizQAS5ti FOR
demand and at s.. SGts 0S4.a for sixty days;
posted rates. SlAl2QA8 and $4.S6i2; COM
mercial bills. $i.S0G$i.Sl5x
silver certificates, oSqJ9l2; bar silver,
575s: Mexican dollars. Al.
Government bonds weak; State bonds in
active: railroad bonds firm.