Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-11-29
STOCKS IRREGULAR.
FURRY IN CALL MONEY INDUCES
A SELLING MOVEMENT.
TONE At The CLOSING EASY.
Trend of Prices Downward Through
out the List-Nbeat steady ana
ADMINISTRATIONS Unchanged 10
Sc. Over Monday.

NEW 1OfNNs NuNtUlUcT GA HtllJ III
call money in the last half hour to-day
induced a selling movement, which car
ried prices I'm the majority Of the list
below last night. Stocks which had ad-
vanced strongly suffered from profit
taking. and their gains were much re-
duced. where they were not entirely
wiped out.
The market was spotty and irregular
throughout, and the maximum level was
due rather TO a cessation of yesterdays
factors Of weakness than 10 any ele-
ment of positive strength. London.
which was a heavy seller yesterday, was
inclined TO buy to-day, on the new ac-
count succeeding the settlement. The
large proiit-taking in Baltimore and Ohio
stocks was so far digested that those
stocks resumed their advance. United
states Leather, by comparison with re-
cent performances, displayed a stable
equilibrium, and the increase in the divi-
dend rate on the preferred stock did not
move il over a fraction. Yesterday $
aggression upon Sugar was also discon-
tlLued. and the stock was strong for the
greater part Of the day.
BULL EFFORT ABORTIVE.
When these conditions were developed.
an attempt was made TO inaugurate a
bull campaign in the Iron ana Steel
stocks, but ii proved abOrtive. The move
men, in the baltimore and Ohio. Penn
sylvania, and New York Central was the
most conspicuous movement 81 the day,
and did more than anything else 10 sus-
tain prices. Chesapeake and Ohio also
rose above its previous high level.
There We're notable advances I'm num-
Der Of obscure stocks, including Peoria,
Decatur and Evansville, Duluth, South
Shore and Atlantic, the Buffalo. Roches-
tes and Pittsburg stocks, and some Of the
minor Industrials. Manhattan lost all
or its gain before the close.
Enthusiasm over Saturdays strong
bank statement was much diminished by
the discovery that the whole strength Of
the showing was due 10 the operations
MONEY OUTLOOK.
The renewal Of apprehension over the
money outlook was emphasized by seve-
raj developments. There were renewed
shipments OF currency 20 New Orleans,
though deposits for transfer al the Sub
Treasury and New York exchange at
Chicago weakened suddenly 10 20 per cent.
discount, compared with par yesterday.
The operations Of the Sub-Treasury yes
terday with the banks resulted I'm a gain
by that institution Of @DWj' IN spite OF
the government bond redemptiOns. Yes
terdays receipts OF revenue by the United
States Treasury exceeded expenditures
by S2,lJi,0N. more than offsetting the
total OF bond Tedemptions for tho day.
The further rise In the London money
rate, and the prospect Of an advance
i'm the Bank OF England rate on Thurs
day. aroused apprehension that London
would want money from New YORK,
which Is likely 10 dlsp.ace loans by Cana
dian banks which have been placed here
in large volume.
CLOSE EASY.
When these various symptoms Of the
money condition eliminated IN the furry
in the call-loan rate. prices turned down
ward throughout the list and the tone
Ut ~. oil Ina
The bond market moved In sympathy
with stocks, the early hrmness yielding
in the late dealings; Total sales par
value, Sl,@50co. United States, SIS ad-
vanced 4. and the old As and new As
Is, I'm the bid price.
TOTAL SALES.
The total sales Of stocks were $3.50
shares, INCLUDING AtchisOn. preferred,
1926; Baltimore and ohio, 1915; Chosa-
poake and Ohio 5l,I50; Chicago. Burling-
ton and Quincy, 1926; Rock Island, 92j;
Cleveland. Cincinnati, Chicago, and St
Louis, $500; Manhattan, 223CO; New York
Central. 205Ss; Norfolk and Western, 5000;
Missouri Pacific. $3.50; Pennsylvania,
Union Pacific. 1890; American Steel
Hoop, $40: Brooklyn Rapid Transit, 146S5;
Continental Tobacco, 900; Federal Steel
% 336; Sugar, 30, $50; United States Leather.
IS $50; United States Leather, preferred,
MONEY AND EXCHANGE.
Money on call firm at sac per cent. 4;
last loan AT 8 per cent; ruling rate, 6
per cent; prime mercantile paper 5Iau6
per cent.
Sterling exchange easier, with actual
business i'm bankers bills at $iG7snS4 S6
for demand and ASlpNMA for sixty
days; posted rates, As2Q3iS2is and SlS1;
commercial bills. $3.50.
Silver certificates. 5sZsN59; bar silver.
| 5ST.: Mexican dollars, ~.
Government bonds strong. State bonds
easier. Railroad bonds easier.