Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-09-27
EREYIEIWs0 FsM.lARKEI|S
FINANCIAL AND COMMERCIAL.
Stock, Money, Exchange Bonds Grain
Cotton Provisions, Bic. ;5

" New York,{ Sept. s.MThe stock
market gaontinued dull and lis tess In;
3charaete to- day. several sfaYorableiin In
cidents Impaired an undeftone Of
stratst III md disc lira g opera lions for
a decline BIZ the Is caring II tend ency Of
the mon icy rate "a iso oura ged all specu-
lativei dem and on he len b. sid & and the
\ q lay closed sT itlis hear1 all stocks show
q ing loss al, sSas gineide (which attract
! ed fmostS att snti on was the engagement
4 Ii6nd ong or 81, 900, 900 I'M gold for N ew
~ oI1S 'rtceB i rose to S'the highest on
!! thlss a nounseir en q nd for number
y0f Is looks reached Ia level nbove yester-
$Sdayss 81 ose. Money5 however, rose up
= ward by quick stages to twenty per
cent. And the Nheavlness of the market
I WAssreneWed. The gold engagements
/ in the face sofs the firmness OF exchange
j IS .5obyi ouslylE based OH the expectation
i that the money rate VIII continue high
4 until the sreceipt of the gold here when
{ the prof of the loaning rate may make
Il good the loss Involved in the simple inn
4 port LII onsis The course of tho local
j m oneyssmnrket to-day contradlcts The
L al ions made yesterday that the
4 III CHER rate was due to manipulation.
\ The present and prospective condition
of the money market Is undeniably.
f tight ERates advanced not only here,
lbutsaes other domestic points, both East
4 and West New Y ork exchange at
b other points shows continued pressure
3 Oh this center. The announcement that
more gold is on the.way from Australia
8 TO San Francisco had no effect, the
Z promised relief being so remote. The
& fact of three days holiday approach
ing. had Its influence also on the pre-
Svnfling dizziness. The weakness on
foreign stock markets was an Influence
q here only Indirectly and so far as It
was detsrrent to gold imports.
u The series Of railroad statements
which appeared to-day was n real and
effective prop to the market and un-
doubleday induced some good buying
from substantial interests such as are
not dependent on borrowed money The
overnight statement Of ST. Paul for
& the third week in September showing
an Increase OF last years unprecedented
level Of $4,000 led the list. Even more
striking was the statement of the At
Gibson system for August showing III
crease in the income from opera lions of
SfoS,S9S, a$rcsult in large part to the
heaYy decrease in operating expenses.
In the cases OF Erie and Southern Rail-
way, In lspfte Of liberal increases In op-
q era ting expenses. there was an Increa Sc
In net earnings for the former of s22i ,sG2
and for the latter OF SlS0,3I5. Business
on oil the trunk lines was reported OH
an unprecedented scale These facts
gave the undertone of hrmness to the
market. the stocks especially affected
( being those whose reports were pub
lshed ~ 80
me days net declines reached a point
in only few cases. A number ar the
industrial specialties were at one time
. TO 31a points below last night, but
covering by the shorts worked n par
fial rally. Brooklyn Transit continued
very active. though American Tobacco
exceeded 1t and was we'll sustained az
fCf ri, al. y
ter an early decline, rising n point over
q yesterday and closing with n net gain.
The bond market was dull and fea-
turelcss. and prices were lower. Total
sales par value, 81, 320, 900.
United States rs advanced Is, old As
coupon, Il. and the new IS Is in the
bid price.
The total sales of stocks were 46e. 400
shares.
4.66@46S.