Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-10-17
STOCKS CLOSE FIRM.
NET GAINS. HOWEVER, EXCEED A
POINT IN FEW CASES ONLY.
Money RATES CONTINUE EASIER.
Cali Loans Rule at O Per Cent. or
hciow-I,onds Moderately Active
Whcnt Weak aud Loyvcr-Proyis-
ions Decline.

NEW YORK. October 1.-THE stocI,
market showed a firm undertone All dav
and ended with q vigorous upward move
meht IN progress In a number of the
prominent stocks which showed a reac-
tlonary tendency, and made the closing
hrm. Net gains exceed "A point in only q
rev cases. The principal activity was I'm
the prominent specialties Brooklyn Tran
sit continued to attract 4 large share OF
attention. There were renewed efforts 10
depress the stock. but the support was
too strong. and it ended the day at the
top price-above g.
Sugar and Tobacco, the latter selling
eX-divldend, rose at one time 3 points
each, but did not save all their gain
Great Northern, preferred. and Pull
man continued their recent show Of
strength, the former rising and 81 net.
Pullman's extreme rise was 5la. and it's
net gain ?. Metropolitan. Consolidated
Gas and Third Avenue were strong. but
the last-named lost all its gain. Southern
Pacific was the leader of the late rally,
after falling to &c. and was marked up
vigorously to 37ss st. Paul attained a net
advance of point. Baltimore and Ohio
stocks were both strong.
LOndOn'S active dealings here were very
small, but TIE flrmness of stocks there,
and the lower rate for money I'm London
! had a sentimental influence here. SO had
the good showing made by the Bank OF
Germany. The rise in the private die
count rate in Berlin however showed
that the banks recuperation was made
at the expense of the open market. The
decline IN discounts in London was re-
fected in an easier tone for sterling eX-
change rates, both I'm New York and at
Continental centres. But higher money
i Il In ON al
expectation is factor in the speculative
outlook here
MONEY STILL RATHER EASY.
Money rates here continued rather
easier, call loans ruling at per cent. or
below There was less demand in the
Cdll-LOan Department, and IL is asserted
that stock operators have provided them
selves 10 some extent by borrowing money
on time. The amount OF money disbursed
I by the Sub-Treasury on interest account
t0-0ay, according 10 preliminary estl-
mates. did not exceed S200W0. This includ-
ed not only the anticipated interest OF
November LIST and for the fiscal year. but
also "A considerable sum OF overdue lhte-
rest which has not been claimed hlthertO.
This factor, therefore, was not a large
one in the easier tone OF the local money
market. The Sub-Treasury. however, mad
a debit balance Of over a million dollars
at the clearing house ON account or I.e
payment of government Obligations. No
drain Is apparent thus far from the BANKS
| into the Sub-Treasury on account OF rou-
tine operations this week. Deposits az the
Sub-Treasury for telegraph transfers 10
other points shows that the interior de-
mand for money is not yet satisfied
The bond market continued moderately
active. and some Of the southwestern IS
sues moved upwards. Otherwise. declines
were the rule Total sales, par value
$4,000. United States rs advanced a,
but the 3's declined Il IN the bid price.
The total sales Of stocks were 555.tOD
shares including Atchison, preferred, u
500. CHICAGO Burlington and Quincy, 5000;
Manhattan. $40; Louisville and Nash
Vile. 665O ST. Paul S632; southern Pa
cific. 1880: American Steel and Wire,
70OG. American Tobacco. $3.50; Federal
steel. $50: Sugar. J29H
MONEY AND EXCHANGE
Money on call steady at 4ad6 per cent;
last loan at AZ per cent; prime mercan-
tile paper, 5iaU6 per cent
Sterling exchange easier with actual
business in bankers bills at &SG2uSi663i
for demand and S4S2i2dSLS2ai for sixty
days: posted rates. $i8l2QAS7l5; COM
mercial bills SlSli2.
Silver certificates. 5Sa059 Bar silver
S. Mexican dollars. q.
Government bonds Irregular. state
bonds inactive. Railroad bonds firm