The times. [volume] (Richmond, Va.) 1890-1903, 1899-11-23
STOCK MARKET
WAS SLUGGISH
The Dealings Were Narrow and
Wholly Professional
MONEY RATE ROSE TO8 PER CENT
Proceeds Of Bond Redemption Have
not Afforded any Great Relief to
Speculative Morld-small Net
Gains Rule for Day.
MONEY Rate ROSE TO8 PER CENT

NEW YORK. Nov. 22-The stock mar
kct orIfcd rather aimlessly to-day under
the influence of renewed untdslness over
the money situation. moderate demand
for London account hitcd prices at the
opening. ana during the course of the
day there were Isolated movements IN
number OF individual stocks. But the in
nUonCc OF these demonstrations OF
suehsth pm Spots on thr general hIdIhyt
was small and the tone was sluggish
throughout.
Dealings were narrow and wholly pro-
IesS40ual. The money rate rose 10 per
cent during the day. and there was
renew al OF The disposition 10 discriminate
sharply against the individual stocks as
collateral The nominal rate OF interest
IN such cases was ckcd out by The re-
quircment of extra commits sion, and the
margin between the amounts loaned and
the ruling market valuation Of the stocks
was increased.
The offerings Of Government bonds for
redemption at the Sub-Treasury Tell TO
insignificant proportions. New York eN-
change was notably weak at number
OF Important centres. falling TO 20 per
cent. discount az Chicago against par
yesterday. auad declining sharply at ST.
Louis and Cincinnati. Persons Interested
in The money outlook are keeping am eye
on the foreign markets. The hardening
discounts in London to-day may be sig
nincaut OF future pressure from that
source. though the situation in New
York was sufficiently pressing TO cause
decline iu sterling rates. in spite of the
London movement The Paris discount
rate held firm mt = per cent above the
banks official rate. giving ground Tor tA-
poctatiOn Of an advance tomorrow IN. the
Bank OF France rate.
New York banks have eainedt $5 $50 200
on Sub-Tredsury operations since last
Thursday and to-day clearing house
statement showed a debit balance against
the Sub-Ireasury of over S&op0Wo Ihese
are reflections Of the Government bono
r.H.a "a
showing in Saturdays bank statement.
The proceeds Of the bond redemption
have not AFFORDED any great rehel 10 the
speculative world. and the market is dis
posed 90 await further developments.
Small net gains are the rule on the day.
and a Few stocks show notable advances.
General Electric gained %2 and Cleve-
land. Cincinnati. Chicago and 81. Louis
2-. Baltimore and Ohio rose over point
and the coalcrs showed some strength.
The Chicago Indianapolis and Louis
Vile stocks. the Chicago Terminal stocks.
the Rio Grandc and Western stocks. Bui-
falo. Rochester and Piusburg and one or
Two others show gains OF from l % "i2.
Minneapolis and St. Louis IS 2ii lower.
and losses of a point are shown by a
number of other inconspicuous stocks.
There was realizing I'm some of the
bonds OF the speculative grade but very
good absorption at other points Total
sales. par value. S2.27jooo. United states
2's advanced H. and SIS and old and new
The Stock Exchange will be closed on
Saturday ont of respect to the late Vice
President Hobart. ..
The total sales of stocks were $4,000
shares. including Chesapeake and Ohio.
249iO Chicago. Indianapolis aud louls-
willie : 80. Cleveland. Cincinnati Chicago
ana ST Louis. Is 80; Maah4,ttani +, Is }.,;
Ontario and Western, 12Sl0i Reading
tirst preferred 1000. Southern Pacific.
"a 10. Southern railway preferred, 100;
Union Pacific 1890. Brooklyn Rapid
Transit. 1900. General Electric, 9430;
North American. 1890; Sugar GlHjo;
United States Leather. 1892; DO. pre-
ferred, J.2-J.
MONEY AND EXCHANGE Money on
cali firm nj G0S per cent: last loan at q
rer cent. urimemcrcantile paper3l. 40
per cent Sterling exchange weak win
actual business in bankers bills at 81 So
a. e-H for demand and al SiSlh04Nl"i
for sixty DAYS. posted rates, 81 S2la and
81 81. commercial bills 81 81 Silver GER
tifcates JSs.. bar silver 30. Mexican dol-
lars 47iL Government bonds strong;
state bonds inactive; railroad bonds