Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-10-18
STOCKS STRONGER.
BULL MOVEMENT FAILS BEFORE
THE END, HOWEVER.
GAINS PRETTY WE'LL WIPED OUT.
Prices Struggle Upward Again in the
Final Dealings, and Close Slightly
Above Monday Nighfs-Ihe Pro-
duce Markets.


NEW YORK, October 17.-There was a
short-lived demonstration by the bulls in
the stock market to-day, but before
trading was suspended the early gains
were largely curtailed, and in some cases
more than wiped out. The strength was
attributed to various, causes. The reap
pearance this week upon the floor Of the
Exchange Of several operators, who took
a large part In last springs big bun mar
ket, and who have been away on long
summer vacations, gave something OF
hllip TO bullish sentiment. The quiet tone
Of the money market yesterday, in the
face of operations incident to the change
of old Central Pacific securities for new
ones, encouraged some sentiment for
rise.
There were one or two stocks in the list
which were notably strong from indi-
vidual causes, which were rumored but
not authoritatiyely disclosed, and which
helped TO sustain prices. Among hess
were Pullman and Great Northern, pre-
ferred, although the latter more than lost
the early gain. The Baltimore ana ONO
stocks were conspicu0usly strong the
common rising an extreme ga, and me
preferred q Laclede Gas continued us
advance, and went as nigh as 80 Inc
Grangers. Louisville, and Southern Pa
cifc were quite well taken early in the
day, apparently by pool interests.
PUBLIC NOT IN EVIDENCE.
The public was not in evidence at any
time during the day. can money cgn-
of the fact that many banks report their
cash still below the legal reserve. But
while the money rate ala not ughteh,, q
number OF Industrial stocks, espeClaHg
those classed as green in Wall-Street
parlance, showed signs or weakness, sucii
as might happen II they were suDJectel
10 discrimination by money-lenders III
the shifting Of loans. .,,.. &c
Tho Glucose stocks were notably al
fected the common dropping nearly .
points and closing near the lowest, WINE
the preferred lost 3 - Iron ana steer
stocks, as a group, also weakened shhul
tane0usly, Steel and Wire leading' WIN
an extreme decline OF . 3-i. Others or the
eroun suffered to the extent of between
l62 points. This unsettled the DUH move
ment. and wiped out pretty mucn al the
gains which had been established. frlce5
STRUGGLED upward again, in the maj deal
mas. TO a level for the most part slightly
above last night, but the snap seeiheu
taken out of the movement.
There was a warning rally In the rates
for foreign exchange during the uay'
which was not needed. slgnals on uls-
tress were IN evidence in the German
money markets, and sterling exchange
zen sharply at the continental centres,
including Paris. Discount rates IN Lon
don responded with an advance, and eN-
change rates here, both on Paris and on
London, rose In sympathy. Add 10 TINS
the fact that money is still going to the
interior IN considerable volume, that gov
eminent payments through the Sub-Trea-
sury are again falling off, promising re-
newed decline in the money market on
account Of revenue receipts, ana that ap-
plications for anticipated payments lor
government interest continue on small
scale. and the outlook for easier money Is
not promising. This consideration was
sufficient TO give pause 20 the enort5 10
advance prices.
BOND PRICES IMPROVE
The bond market was moderately ac-
tive and prices improved. Total sales,
par value $200j000 United States bonds
were unchanged in bid quotations.
Total sales of stocks, 3Jl3OO shares IN
GLIDING AtchisOn. preferred. 15,l36: Balti-
more and Ohio. 920S Chicago burlington
and Quincy, 1880. Louisville and Nash
vile. l0,l00: Manhattan, 6.S35; New York
Central. 500: Northern Pacific. $40; st.
Paul. 1870: Southern Pacific, Nsl5; Union
Pacific. $500: American Steel and Wire
y $50: American Tobacco, 1870; Brooklyn
Rapid Transit, 73.6s3; Federal Steel, 1850;
Glucose Sugar, 1850; Laclede Gas 5,2S0;
Pullman, 6,5i6; Sugar, $3.50: United States
Leather, 1900.
MONEY AND EXCHANGE
Morey on call steady al sac per cent;
last loan az per cent; prime mercantile
paper, 5isQ6 per cent.
Sterling exchange strong, with actual
business In bankers bills at $.S6@s0SLd
Tor demand and SLS2&dA8 for sixty
days; posted rates SiSiz0ASll5; ccm-
mercial bills, SAMik
silver certificates. 5SiG59; bar silver,
577s Mexican dollars. AZ.