Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-10-07
STOCK PRICES RISE.
SOME PROFIT-TAKING SALES. HOW
EVER, IN THE LAST HOUR.
EASIER MONEY CONDITIONS PREVAIL.
Higher.

NEW YORK, October 5.-With the ex-
eepton OF some pro1t-taking sales in the
last hour Of to-day's market. the move
ment Of prices was upward, almost With
out interruption. The demand was not
large at any time. but the supply Of
stocks proved small even At the higher
prices, except I'm a few cases, notably
Southern Pacific, which met large offer
ings at SO. The late break was led by
Brooklyn Rapid Transit, which was
pressed down, under food Of offerings.
to 81, an extreme decline Of 35-S. The
proft-taking which was induced by this
weakness was most conspicuous I'm Sugar
and Tobacco, which lost nearly two
points, each. Of the extreme advance.
The initial impulse to the rise came
from London, where the easier money
conditions. and hope that a peaceful
settlement Of the Transvaal difficulty IS
still possible. induced large covering by
the bears in all departments. London
bought stocks here TO the extent Of up
wards OF 1900 shares, and showed
special desire for Louisville, which led
the active railroad list, with an advance
Of "a, after an extreme rise OF two
points. The maximum rate for call
money was per cent. to-day. against
= per cent. yesterday, and 20 per cent
the day before. The rate i'll to per
cent. in the late dealings.
GOOD STATEMENT EXPECTED.
This progressive decline in the money
rate was a factor i'm the strength Of
stocks. and has awakened expectations
OF a good bank statement tomorrow. The
expectation seems to be based on the fact
that the banks are known to have re-
ceived 81 900 go in gold on p0st-oftice re-
ceipts from Cuba. and drafts from the
san Francisco mint on account Of Klon-
dixie gold deposited there. The gold en-
gagged last week i'm London also figures 30
the expectations of spectators. though
80 Will not be received until tomorrow
and will not figure i'm to-mOrrOw's bank
statement
As matter Of fact. the New York
banks have lost on the interior move
ment. so far as known movements are
concerned about 100000 Operations
/ with the Sub-Treasury indicate "a further
/ loss by the banks Of S2oGl,OOD. Allowing
/ for the 100000 gold received, the net loss
/ in cash TO The banks seems 20 be upwards
/ Of $500 900. The result may be compi-
/ Gated By the effect OF money left there by
visitors 10 the Dewey celebration. which
| is an unknown quantity. The easier rates
/ for money are largely due 10 offerings on
account OF outside banks, which will be
/ OF no advantage TO the New York banks
I'm their weekly showing.
STERLING EXCHANGE.
The relaxation I'm London discount rates
{ to-day resulted I'm decline In sterling
exchange at Paris and Berlin. In strong
contrast VAS the sharp advance ia the
sterling exchange rate here This is said
~ be due 10 covering by exchange bank
ers. who have sold bills in anticipation Of
Il large outward movement OF cotton and
grain. The chartering of large number
Of vessels hy the British Government TO
transport troops. and the resulting rise
in rates for shipping, awakened fear
that shipments OF merchandise may be
nampeIcd.
The bond market continued firm. and
the movement in prices was upward.
Total sales. $4,000. United states Ss adj
vanced Is, and the new As Ia, in the big
price.
TOTAL SALES.
Tho total sales OF stocks were 1880
shares. including Atchison preferred, TO-
800. Burlington. $500: Delaware and West
ern. 7.220: Louisville and Nashville, 22,225;
, Manhattan. $3.50; Reading first preferred.
g $50; ST. Paul, 10190, Southern Pacific, 60
SO: Union Pacific, 5O25; do, preferred, g.
$50: American Steel and Wire, 662o, Amer
Jean Tobacco, 100; Pullman. --; United
States Leather 45.5l5; do, preferred. 5000
Sugar, 2iSi7; Tobacco, S2,2lO; Anaconda,
$3.50: Brooklyn Rapid Transit, Ji770; Con-
tiuental Tobacco. 100.
MONEY AND ENCHANGE.
Money on call easier at 4QS per cent;
last loan at per cent, prime mercantile
paper. 1-2HG per cent.
Sterling exchange firm. with actual busl-
ness in bankers bills AZ Sis6 l-snAs5 IA
for demand, and SLSGShSl IA Tor sixty
DAYS: posted rates, As2pAS, and
! 81 81 l-2GSIS7; commercial bills, NNg
! $LSi L..
Silver certificates, IS 1898. Bar silver
5fa-4. Mexican dollars. A.
Government bonds strong state bonos
! inactive. Railroad bonds strong.
BANK CLENRINGS.
The total bank clearings in the United
States for the week were I.l12sSS. 5iS; per
/ cent. increase. 1876; exclusive OF New
| York 500, AS, S6j; per cent. increase 81.
Hexv work sfoc.S Quotations.