Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-12-02
STOCKS ARE NARROW
ORGANIZED BUYING OF TRUNK
LINES APPARENTLY STOPPED.
MONEY MARKET CONDITIONS DULL.


NEW YORK, December 1.-The stock
market to-day was a narrow and colorless
AFFAIR. Professional operations were re-
sponsible for whatever movement took
place, and chances on this account were
not well maintained. on account OF the
desire Of professionals 10 close up their
contracts at once. The organized buying
of the Trunk Lines and some other
stocks. which was in evidence In the ear
Her part of the week, seemed TO be en-
tirely discontinued. and those stocks re-
acted, on prOfit-taking. New York Cen
tral sold, with the right TO subscribe to
the new stock issue deducted from the
price. There were sales OF this right at
from rs to 51-2. Union Pacific and
Northern Pacific showed some strength,
and there was an attempt 10 advance
some OF the iron and steel stocks, Wnlch
proved only partly successful. some or
the prominent Specialues suffered from
bear pressure. notably Sugar, Brooklyn
Rapid Transit. and the other New YORK
traction stocks.
Conditions in the money market were
responsible for the dulness In the stock
market The advance in the Bank or
England rate from to 6 per cent. was
not unexpected. but was confirmation OF
disagreeable anticipation, from the STOCK
Sterling exchange. both here and in
Paris. hardened in response 10 the condl-
lions IN London, where, however, the
money rate reacted slightly from yester-
days level. The rate for money In New
York did not rise above per cent.
BANK STATEMENT ESTIMATES.
Preliminary estimates make il evident
that tO-morrOw's bank statement VIII re-
fleet a still further improvement IN the
condition Of the banks, but the gain IN
cash resources Will come Wnoly IRON
Sub-Treasury operations, on which ac-
count the banks have gained $293o000, in
Guiding bond redcmptions and receipts on
account of gold deposited at interior
points. on the interlor-money movement
by express. on the other hand, the banks
have sustained a net loss Of over S2O0VO.
Receipts from the Interior have fallen
off over $1,000. while the shipments 70
the interior have increased nearly S2lJ,Wo
The net gain on last weeks movement
had aroused hopes that the lOng-eXpected
rehuX OF funds 20 this centre had az last
set in but this weeks figures show that
the interior demand is still unsatisfied.
The bond market was quiet, and prices
were shaded, I'm the majority Of issues;
Total sales, par value, $4,000. United
States bonds were unchanged in the bid
price.
The total sales Of stocks to-day were
500 40 shares. including Atchison, prefer
red 1902. Chesapeake and Ohio, 5h3sl;
Chicago Burlington and quincy, 800;
Manhattan. 26.2so; Northern Pacific, 1915;
Northern Pacific, preferred, 1000; Penn
sylvania. $3.50; Southern Pacific, 1850;
Southern Railway, $50; Union Pacific,
% i25; American steel and Wire, 600;
American Tobacco. 1882: Brooklyn Rapid
Transit 57S6. Continental Tobacco. IL
100; Federal steel, 10 49, Sugar, 1850;
Tennessee coal and Iron 692j: United
States Leather. $3.50; Pacific Mail, 5.0S5.
MONEY AND EXCHANGE.
Money on call closed steady at sac per
cent; last loan at per cent; prime mer-
camille paper. l-2d6 per cent.
Sterling exchange firm. with actual bust
ness IN bankers bills al 1876 LA fAs5 IL
for demand. and $3.50 7-SQsisi for sixty
days; posted rates. Si2QSfs2 - and $LS7;
commercial bills SAsJ 1-f8A.s 20 l-2
Silver certificates 80 1-2uJ9 - Bar sill
yer. o. Mexican dollars. A. 10
Government bonds steady. state bonds
steady. Railroad bonds easier.
BANK CLEARINGS.
The total bank clearings for the week
Were 81 i5i,3i5 l&-per cent. decrease, 65,
exclusive 81 New York, $j2T 1,Oll-peg
cent decrease, lO2