Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-01-05
STOCKS REACTIONARY
THIS THE MORNING CONDITION,
nut LATER THEY RISE.
TOBACCO A LEADER UPWARD.
IL Advances 3 Points, without Ac-
compartment of Any Development
In the PrOperty-Wheat, Corn, and

NEW YORK, January 4.-Stocks were
reactonary in the forenoon. but forged
strongly upward in the afternoon, led by
hgh-priced specjalties, including Brook
Ign Rapid Transit. Sugar. and Tobacco.
The opening was irregular. with a ten
dency both here and in London 10 take
profits. and prices reacted moderately at
ter the initial trading. Professional trades
sought diligently TO reach stop-ioss orders.
Many shares eased off considerably. but
a number OF stocks showed marked re-
slstance, notably Brooklyn Rapid Transit,
Pullman, Pittsburg, Cincinnati, Chicago
and st. Louis, aud Great Northern pre-
| ferred. st. Paul maintained a point adj
vance on its remarkable statement for
/ the fourth week in December, showing an
! increase of nearly $4,000 in gross earn
/ ings.
4 better tone developed in the after
noon, and continued till the close Brook
| Ign Transit made local gain Of points
on its showing of an increase of StGi657 in
its gross earnings Tor the year. There
were insstent rumors of a pending deal,
which insiders would not discuss, but
there were limitations that the control
| OF surface and elevated lines In Brooklyn
might come into the hands of the com
pany Pittsburg, Cincinnati, Chicago and
! St. Louis advanced 3 points, on confident
| buying, which, it was conjectured. was
| due to desire Of the parent company
! che Pennsylvania TO form a closer union
with western lines.
While there were large gains in many
7 h. rfg yft,fr ofrD b..
advance in standard shares was generally
moderate. The rise in wheat stimulated
/ interest in many Of the western railroad
shares.
/ ADVANCE IN TOBACCO.
The advance of points in American
/ Tobacco was unaccOmpanied by any new
/ developments in the property. There were
large purchases by interests identified
with the company. and the movement was
/ thought TO be manipulation against the
! short interest, which has recently been
created by the formation Of rival con-
Germs. The Reading stocks were pressed
/ for sale in the early hours, and declined
/ sharply. These shares failed TO respond
to the general show of strength.
Bonds were duh to-day, but there is no
abatement of the recent pronounced
strength. Total sales. $3.355.00O. United
. b SldttS >, ItBi5leitOf Oetllutu IL anu
the 3s and the new As, registered. is in
the bid price. United States new As, cou-
pom, advanced ii.
The total sales of stocks were 736,7O0
shares, including 1850 Atchison. prefer
red; $500 Chicago. Burlington and Quincy;
6,505 Louisville and Nashville 1880 Man
haitian; 1880 Reading. first preferred;
6,525 Missouri Pacific; $50 Northern Pa
cifc; 11,71 ontario and Western; $50
| Reading; $50 Rock Island; 1472O Union
Pacific; $500 st, Paul; $500 Union Pacific.
preferred; Lao Wabash, preferred; Is, 77j
Wheeling and Lake. Erie; 1903 American
Spirits; 81 go American Tobacco; %, $50 Bay
State Gas: 81 30 Federal Steel: 1920 \do,
preferred; 1890 Peoples Gas; 10, S25 Pacific
Mail; S.l20 Sugar; GAO Leather, preferred.
MONEY AND EXCHANGE.
Money on call at 3q4; last loan at 3;
prime mercantile paper, 3a4 per cent.
Sterling exchange steady, with actual
| business in bankers bills at AS41-40
A.S IL for demand and s4.sl 9-4a$i 81 for
! sixty days; posted rates. $4Si 1-2a$LS5 1-2;
I commercial bills. $LS l-2.
! Silver certificates. 80 1-2GG0 l-2; bar sill
yer IS rs; Mexican dollars, &c SIS.
Government bonds irregular; State bonds
| inactive; railroad bonds strong.