Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-11-16
STOCKS STRONGER.
LARGE OPERATIONS ny PROBES
SIGNAL SPECTATORS.
SECRETARY GAGE TO BUY BONDS.
Announcement Not Made, However,
Until After Close of MnrIet-Gov-
eminent Trade-Balance Statement
Attracts Interest.

VI Siltubtn III STOCKS To-Day,
owing TO the large operations by profess
s'onal spectators in a number of promi-
| nent Industrial Specialtes-notably,
Sugar, the Leather stocks, some OF the
metal issues. and New York public unl'-
ties. all OF which show large gains There
we're strong advances in New York Cen
! tral, on the announced settlement OF diff
| fcroDces over the Boston and Albany
| lease: In Southern Pacific. on the con-
tinued large absorption by the banking
Interests; in Pacific Mail. in anticipation
OF action on the dividend: I'm the Coalers
on the good conditions in the anthracite
t,ade. and in the Atchison stocks.
! The level Of prices, on the whole. IS
| higher but the activity was not very
widely distributed and the general dis
position was to maintain a waiting atti-
tude, pending further developments in
| the money market
There was no recurrency of extreme
stringency in the local money market.
! Secretary Cages announcement that the
! Treasury would buy $2j,O0O,OOO of United
States bonds. at the price at which they
were quoted on the New York Stock
| Exchange. was not made until after the
cicse of to-day's market.
The sterling exchange market was dull
| but inclined to firmness, i'm response 20
the hardening of money rates in London.
where there was a special demand on the
market incident to the taking up of the
government bills to provide for war ex-
| ponses. There was continued demand
| from Stock Exchange sources for time
| money, and per cent was bid for six
months loans where Industrial statistics
figured as collateral.
FOREIGN TRADE STATEMENT.
In connection with the outlook in thd
mercy market, the October foreign-trdde
statement of the Treasury Bureau Of
statistics attracted great interest. From
this IL appears that the slight falling of
/ in the October exports Of agricultural
products. compared with last year, due
To a decline Of over 80 per cent. in the
amount OF cotton exports, Is more tnan
Offset by the increased exports of manu-
factures, so that the total exports for
the month are over 100000 in excess or
those Of last year. The figures are the
more significant i'm view of the large cur
rent demand for cotton by foreign buyers:
Taking the ten months Of the year, II
appears that the decrease or SGWOVW IN
the value of agricultural exports Is more
than offset by the increase in exports or
manufactures, so that the total exports
for the ten months are valued az over
SAL 900 coo in excess of those or the ten
months in 1898. The increase in the value
of imports for the same period of &c.,
600 600 leaves the merchandise trade bal
ance in our favor nearly SgO.WOVv less
than last year. But in the same period
our net imports of gold have been nearl!
S122 900 600 less than last years. AS net
result, the unliquidated trade balance IN
our favor is S32.573 $50 greater than Tor
the corresponding period of last year.
COMING GOLD MOVEMENT.
Add to this the recent buying here for
London account of securities. ESTIMATES
OF shipments TO London OF American secu-
rites by coming sailings run as hlgn as
100000 shares. Large loans nave peeh
placed in the New York market by ior-
eign houses in tho last week or so, oDVl-
ously with the purpose OF deferrlng de-
mands for gold on foreign markets But
the figures cited give ground Tor the
claims OF foreign exchange houses that
there must be heavy import mO ..
of gold in the course OF snort Time
There was moderate activity In the Dono
market and price conditions were mixed
Total sales. par value. $l6lO,UO Omted
States bonds are unchanged IN the pld
sales of stocks. 467,9Oo shares, including
Atchison 1853; do. preferred A%O; M
cago. Burlington and quincy, S4eV' M NAL
haitian 81, O95; New Jersey CentraIj 49, 49,
Missouri Pacific $3.50; Southern Pacihc;
il 3e1. Union Pacific. $50; American steer
aud Wire. 1880; American IoDacco. -
lea. Rrooklyn Rapid Transit, 295o; fede-
raj Steel. $3.50; Pacific Mall $3.50 Sus"i'
"A 270: United States Leather, 300.
MONEY AND EXCHANGE.
Money on call firm at 5qS per cent;
last loan at s: ruling rate, per cent;
nr min mercantile paper. 5q5% per cent.
Sterling exchange firm Win Sit 3esHs az, oI for
Hemond and SladSiSlA for sixty days;
po osi,i rates $iSli9a$iS2 and %.S6a$iso1s;
commercial bills, $A.SOA. -, ill.,.
silver certificates. $4,000; par s'iVer'
5Ss.. Mexican dollars, ~. x,,
ooS So bonds inactive; railroad bonds