Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-10-20
STOCKS OPEN STRONG.
COVERING MOVEMENT AMoxo
BEARS CONTINUES ACTIVE.
IHE CLOSING BARELY STEADY.
Southern Rnilwuys Prominent by
REASON OF Prosperity in This Sec
ton and Increase I'm Earnings
Call Money Closes nj q.

NEW YORK. October 1e-The stock
market showed signs OF continued
strength during the early hours of trad
ihs' ana the covering movement. among
a large outstanding bear interest. con-
'inued In active force. The professional
opponents OF the bears did all they could
TO take the market away from them by
bidding up prices. picking out individual
stocks for that purpose, to increase the
appearance OF strength In the market.
AS the demand from the bears fell off
later In the day, the fact began TO
emerge that there was a very slight de-
mand for stock among the public at large,
and prices began to slip downward. See
ing the hesltancy of the advance. the
bears took renewed courage and put out
new short lines. The fall in prices was
considerably accelerated during the last
hour. and the demand to cover at the de-
cline was sufficient to cause only a fee
BILE rally.
The closing was barely steady. and the
earlier gains were practically all wiped
out. The fall in prices from the top level
reached a point or over In large number
Of prominent railroad stocks, and I'm some
of the Industrial speclalties ranged from
1 TO over points.
SOUTHERN ROADS PROMINENT.
The railroads running through the
southern region came into some promi
ncnce late in the day. on account of the
general activity and prosperity of bust
ness in that locality, and the relatively
large increase in earnings shown by its
railroads. Illinois Central Louisville and
Nashville: Southern Railway, preferred;
Norfolk and Western, preferred, and
hes 10 oil oh 1cr,
from this cause. and the gains establish
ed were better maintained than at other
points.
Individual strength was shown also by
Colorado and Southern firsts. the Interna-
tional Paper stocks. Northern Pacific, the
Hooking Valley stocks; New YORK. chi
cagO and St Louis, first preferred; Amer
lean Car American Llnseed Oil, and Chi
cagO Terminal. Pullman reacted sharply.
after its prolonged advance. .receding an
extreme points, and losing AZ net. Con-
solidated Gas fell ~, but partly recover
ed.
The local Traction stocks and Sugar
were sharp sufferers in the late weakness.
The reaction was as much without eX,
PLANTATION as yesterdays advance. ana
could only be attributed 10 the closing
up of professional operations.
CALL MONEY. 3 PER CENT.
Call money ruled at ; per cent. for most
of the day. but stiffened TO per cent
before the close. The coming DaNh Sldle-
ment is the subject Of surmise, and OBJ
servers are unable 10 figure on any Inn
prOVement. The movement OF money 10
the interior shows some falling OF, but
still continues in that direction on bal
ance and the course of New York eX-
change at several important points con-
tinues downward. The Sub-Treasury has
taken money from the banks. and the
applications for anticipated interest on
government bonds have proved entirely
insignificant. With no gain In cash from
any source. the condition OF the banks
can only have been strengthened by a
further contraction Of loans.
The actual rate for demand sterling
bounded up q to-day. Cotton bills con-
tinue exceedingly scarce, and the de-
mand for exchange IS quite large; Inc
demand Is attributed in part 10 the re-
quirements for remittance on account OF
the conversion OF Central Pacific securi-
ties. The possibilities Of gold exports de-
pend upon how much farther TINS demand
shall extend The rate for demand ster-
ling is now only &c under that on whlch
gold went out last year
BOND MARKET BROADENS.
There was a notable broadening in the
bond market. The tone was generally
strong. Total sales. par value, 2.lZO,V1
United States IS advanced Is IN the pid
price. ooo
shares. including Atohison. preferred. ~
1S5: Chicago. Burlington and Quincy, I20O;
Delaware and Lackawanna. 1855; Louis
Vile and Nashville. 121.5; Manhattan. L.
$50: Metropolitan Street Railway 5.SD;
Northern Pacific. HOPS; Reading, first
$500; St Paul. 1870; Southern
Pacific. g. 40: Southern Railway, pre-
ferred. 9 100: Union Pacific. 1880. Ameri-
can Steel and Wire 600; American To-
bacco. IA 800; Brooklyn Rapid Transit g.
$40: Federal Steel. 8 500; Sugar. 5000; Pull
man. 1887: Peoples Gas, 1920; United
States Leather, $500.
MONEY AND EXCHANGE.
Money on call steady at 4isn6 per cent;
last loan at ~; prime mercantile paper,
jih06 per cent. 1T -,
business in bankers bills at SiSll54AN4i
for demand and %8HMASls for sixty
DAYS: posted rates, $& and 1888; CONNER
cials bills A.S2iaNA.S.
Silver certificates. 57izM5S; bar silver,
J7ts; Mexican dollars. AZ.
Government bonds firm; State bonds
weak; railroad bonds firm.
New York stock Quotations.
Closing Bids.
AtchiSOn ......... ..'.s..' s.s..s.''s'. Us
Atchison, preferred .................... 65's
Baltimore and Ohio ......... ......... b23s
Canadian Pacific ....,.... ........... 9Zts
Canada Southern ..................... ol4t
Chesapeake and Ohio ................. 2Jat
Chicago and Great Western ......... II
Chicago, Burlington and QUINCY. E09s
Chicago. Ind. and Louis. .....,....... liza
Chicago. Ind and Louis, pref........ AZ
Chicago and East Illinois minimum. %