Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-10-19
STOCKS IMPROVE.
STRENGTH OF THE MARKET. How
EVER, DECIDEDLY sPoTTY.
NO RENEWED MONEY SYRINGEHcY.
No Actual Replenishment, Though,
OF New York's Diminished Cash
supplics-Wheaf Rcacts-December
Gains 3-Provisions stagnnnt.

NEW YORK. October 1S.-There was a
considerable growth OF confidence on the
Part OF the bull party in stocks to-day.
andsthe market cannot be properly cha
facterized otherwise than as strong. The
strength was decidedly spotty. especially
during the early part OF the day. but the
tone steadily improved. and the demand
Tor stocks In the late dealings became
rather urgent. A striking evidence OF
Underlying strength was the indisposition
OF the bears to contest the advance. This
was notably true in the group Of Indus
trial stocks, which was made the target
Tor attack yesterday. Thus II will be
seen mat the Glucose, the members Of
the Iron and Steel group. Peoples Gas.
ana the local Traction stocks, which have
Oh rate been quite persistently pressed by
the bear faction, all show rather striking
gains. Another feature OF the market
was the fact that the stocks which were
picked out to be manipulated for a rise
did not hold their gains well. although
'he advance seemed to effect the desired
purpose Of inducing sympathetic strength
at other points in the list.
TlME-HONORED MANOEUVRE.
l., oIuuibs UP or the vanderbilt group
~ une-honored manoeuyro among the
professionals TO signal a bull movement.
northwestern, Omaha. New York Central
ana the minor Nanderbilts all came into
the movement, and the Union Pacific
stocks trailed on as usual The Coalers
were also employed as lever. In the
railroad list AT large the strength was
! not widely diifused, although the general
tone was quite firm. The Changers and
a rev OF the Southwesterns, added to
| "A 4
plete the list.
The vigorous tone displayed by Sugar
and Brooklyn Transit had large infiu-
ence. owing 10 the volume of the trans
actions IN them. 1t was noticeable that
STOCKS which have been pushed upward
were inclined 70 halt to-day The gains
Tor LOUISVILLE, Southern Pacific. and the
Baltimore and Ohio stocks are small. and
Pullman and Great Northern, preferred.
snow Sn Sy SHARP losses on the day. There was
TO account for the markets strength.
NO CASH REPLENISHIENT
There was no renewed stringency in
money, but there was no actual replenish
ment of New York's diminished cash
supplies. New, York exchange at interior
POINTS showed a continued downward
tendency. Foreign exchange in New York
advanced sharply. causing some renewal
OF talk Of gold exports.
The simultaneous advance of sterling
tNtHaHso mere, III BdrlS. ana IN Berlin
| indicated the drawing in by London OF
outstanding resources. in preparation for
war expenditures. The meagre supply Of
cotton bills, very unusual at this period.
was also factor I'm the strength of ster-
| ling exchange. The scarcity Of ship
room, owing TO the British Governments
demands for transport service, is cited
| as the cause.
BONDS MODERATELY ACTIVE.
The market for bonds was moderately
! active and showed numerous points OF
strength. Total sales, par value. s.. $50 600.
| lsc. in the bid price.
| The total sales of stocks were d43100
! shares. including Atchison. preferred o..
$50; Chicago Burlington and Quincy. 9.577;
| d. and W. 7,454; Louisville and Nashville,
Goo: Manhattan. 1865: metropolitan
| Street Railway. 1885, New York Central,
! 1900; St. Paul 1921: Southern Pacific. 49,
| 2O0 Union Pacific, 1895; Union Pacific pre-
| ferred, $50; American Steel and Wire.
| 400: American Tobacco, II S5; Brooklyn
| Rapid Transit. 1886; Peoples Gas. 1885
| Sugar, 81 ,SS5: United States Leather, 1l,5ll.
MONEY AND EXCHANGE.
Money on call steady at r266 per cent;
| last loan at AS per cent; prime mercan-
! tile paper. 5i2d6 per cent.
| Sterling exchange strong, with actual
| business in bankers bills at $4.SInS4: Sl4
! for demand and S4.S3MsiS3i4 for sixty
DAYS: posted rates, S4.S4uSi.S712; CONNER
| cial bills Si.S24GSAS2&.
silver certificates. 57i2Q59. Bar silver,
| 575s. Mexican dollars, a.
! Government bonds firm. State bonds In
active. Railroad bonds steady.