Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-09-09
STOCKS IRREGULAR.
MARKET MUCH AFFECTED ny BRI-
TIsH-BOER WAR RUMORs.
TIGHTNESS OF MONEY UNRELIEVED.
4 Further Decline in Surplus Re-
serves I'm To-Day's Bank state
ment FOregone Concluslon-
Wheat Heavy.

INN ''BNflibfI C.--0OnrlufI-
able stock was thrown upon the market
to-day. as a result of the fears Of war
between Great Britain and the Trans
vaal. and the condition Of the local
money market was q continued cause of
uneasiness. The market took the offer
ings very well, and so no very wide
breeches were made in prices. First prices
of a number of the Intenationals were
the lowest of the day, notably Kansas
and Texas, preferred, and Norfolk aud
western, preferred. which fell 3-S and
l. respectively. Declines were not down
20 the London parity as a rule, and vigo-
rous support was forthcoming at the de-
cline. Kansas and Texas, preferred, and
Norfolk and Western. preferred, recover
ed their losses, and there was rally all
along the line.
Near noon there was renewed weakness
on the circulation of alarmist rumors
regarding the outcome Of the British Cab
met meeting The general level of prices
fell lower than Oh the first dip. There
was a movement 10 cover short contracts
when authentic reports were received Of
the better feeling engendered in London
after the Cabinet meeting. About the
same time Manhattan was taken In hand
-
tan Street Railway Sugar. and Brooklyn
Rapid Transit rose simultaneously. The
general level OF prices rose = large fr8c-
ton. sufficient IN many cases to wipe out
earlier losses. Tennessee Coal rose ag-
gressively ~ III I'm the final dealings, and
Manhattan touched ll6, the Specialties
generally showing some response. Pacific
Mail suffered loss OF nearly 1 points,
on the statement OF decrease I'm July
earnings, but rallied afterwards.
MONEY STILL TIGHT.
The tightness Of the money market was
unrelieVed. Time loans were held at D
per cent, and call loans for the most part
ranged from up TO & per cent. The late
fall in call loans occurred after the needs
of most borrowers had been met, and
was without significance. y further de-
cline in surplus reserves in tomorrow 5
bank statement is a foregone conclusion.
The movements OF currency by express
Indicate q net loss to the interior by the
banks OF considerably over Zoo coo, and
the Sub-Treasury has gained from the
banks, including payments Tor taxes aud
deposits for telegraphic transfer to the
interior S5,J36000. No set-Off IS apparent
against this loss of cash of upwards Of
$3.50 900.
Sterling exchange I'm New York fell a
sharp fraction this morning. i'm spite OF
higher discount rates in London, but the
bankers rate for demand sterling partly
recovered III the AFTERNOON. i ne itl'iil
firmness of sterling exchange is attri-
buted 10 n demand for lankers' bills 10
cover short sales made against cotton
bills.
BOND MARKET YIELDING.
The bond market showed a yielding
tendency, on q moderate volume OF trans
actions. Total sales, par value, $2,0lO,WO
United States bonds were unchanged In
bid quotations.
The total sales of stocks to-day were
437 100 shares, Including Atchison 5255i
do, preferred p 7J0; Burlington, 1055i
Rock Island. 1864; Louisville and Nash
vile $3.50; Manhattan. $3.50; Metropoli-
tan Street Railway. 400; st. Paul. l5N5i
Missouri Pacific 5G25; Missouri, Kansas
and Texas, preferred. 5,l5; Northern "a
cifc. $3.50: Southern Pacific 1880: South
ern Railway preferred. G,450; Union Pa
cifc. - $50: do, preferred, 7lG5; American
Steel and Wire, 1.75O; American Steel
Hoop, 500: Federal Steel, 1870; Sugar
49, $50: North American. SEQ; Tennessee
Coal and Iron. 1925; United States Lea
Their 1920: Brooklyn Rapid Transit o.
800: Continental Tobacco, $3.50; Colorado
Fuel and Iron. Sl65; Anaconda. 5000
MONEY AND EXCHANGE.
Money on call firm AT 2q6 per cent
last loan at g. prime mercantile paper
Hgu5 per cent.
Sterling exchange easier with actual
business i'm bankers bills at SLS644ASi.
for demand and SlS3dA.S3A for sixty
DAYS: posted rates. S4S6kd$iSil2; com
mercial bills. A& .
Government bonds steady; State bonds
steady: railroad bonds weak.