Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-09-29
STOCK MARKET TAME.
RATE FOR CALL MONEY FALLS TO
PER CENT.
BANK STATEMENT SURPRISING.
Ii is UnfavornbIe Beyond All Ex-
pressed Anticipation Additional
engagements of Gold for Import
Grain Markets Strong and Higher.

NEW YORK, September 2S.-The market
for securities to-day was small and
tame affair by contrast with the violent
fluctuations Of the earlier period of the
money stringency. The rate for call
money vibrated between Il and Il per
cent. during the period Of active demand.
but after that was satisfied fell by quick
stages to per cent The needs Of Dor
rowers over the three ensuing holidays
was 'Shed in large part to-day in an
tic.pa- pressure for accommodation
to-da 4. consequently to-day's higher
rate a. Ho, reach within 6 per cent. Of
yesterdays.
The bank statement was unfavorable
beyond all expressed anticipation. Al
though the cutgo TO the Sub-Treasury was
reduced to $l,le6,COO for four days of bust
ness. the losses Of cash to the interior
brought the total reduction in the reserve
up to $45i5,SOO In spite Of a net reduc-
ton in loans of S7,752 200, the meagre sur
plus reserve was still further reduced
81. 239, 80. 1T IS obvious that loans made
in the last few days on the Stock Elk
change do not figure largely in this show
ing. and the accommodations were pro-
baby secured from dealers in money who
had supplied themselves with time loans
some time ego, and who put their supplies
out again at profitable ruling rates. In
place of the loans called by the banks 10
meet the demand for the october settle
ments.
GOLD FOR IMPORT.
The showing of the bank statement and
the continued tightness of money were
Offset by The additional engagements OF
gold for import, and the drop IN the rates
fer sterling exchange TO very near the
regular import point. The sentiment on
the Stock Exchange was that further re-
lief to the money market from TINS source
is now available, and that a regular move
ment of gold is now fairly inaugurated.
No pressure Of liquidation was manifest
and the present holders of stock eVl-
IDENTIFY felt themselves strong enough 10
await a more favorable turn of AFFAIRS.
The confidence in further gold imports
was emphasized by the failure OF the
Bank of England TO advance its Official
discount rate Notwithstanding the Id-t
that the principal demand Tor money III
London is now thrown upon the central
institution by reason Of the higher pre-
yailing private rate of discount. \ tall
in sterling exchange al Berlin, IN re-
spOnse to the former discounts there sus-
Cested additional pressure on LonuOh Bolu
from that source also. WITH SOld moving
TO New York, some measure OF protection
bv the bank at an early day may be ac-
cepted as a certainty. The interior money
markets I'm this country gave no evidence
of a relaxation of the pressure upon New
York for funds, New YORK eNchahse AZ
interior points tending rather uoWi""'U
DEWEY WEEK RECEIPTS.
Some relief is anticipated next week
from dividend and interest disbursement
and from the money 10 be LETT IN lhe
city by visitors 20 the Dewey celeDrdIioh
EXcept for a recovery OF 80 IN Zen
nessee Coal. gains Of ia ana IN the o.
Louis Southwestern stocks, ana VIZ VIZ
movements I'm a few usually lhdcuNe
stocks. to-day's market was without no
table incident The total dealings zen 10
the level of the midsummer perlou Vi
dulncSs. Ill eco1e
ana nrice changes were mixed. Iotal
sales par value. Sl.325 900. United states
new As declined Is in the bid price 90, On,
q'be total sales of stocks were z5''-yy'
shares, including Atchison' p iSie55i6gr0o GA.
q i50. Manhattan $50; st. Paul IZoV'
Southern Pacific. L, 800; American Iobac-
90 m e50. brooklyn Transit, 60 ~; SusaI;
10 40. United States Leather, DID, Uhlteu
States Leather. preferred, o'oV
MONEY AND EXCHANGE.
Money on call closed easy; t1ansac ,li'',
az gG14 per cent; last loan at per cent?
nrime mercantile paper, $500 per cent
Sterling exchange heavy, with ael va
tnsiness in bankers bills at AAansfooit
for demand and S4Sl l-40A8s4 1or s. sla KY
S 81 SSeSii p numerical bills, N.SOl9.
Silver certifcates, $3.50. Bar silver
sSiL Mexican dollars, 4Pt. 49, I'D.
Government bonds ho weak frre S1TtI Oo''0'
inactive Railroad bohus ITO "''''
BANK STATEMENT.
MI. ,,.ool,l,, hank statement shows the
following changes: ., 600 o-o
Snrnl1Is reserve, decrease N,Z5sz0V'
ioans decrease, S.7j2.70O
Snecie. decrease A,0l7 $40 ooo
Legal blenders decre az 5oe ' S66
CircuIation. Increase, $500.
The banks now hold SLI2i45o IN excess
of the legal requirements. ~ = s.,,r
- The statement shows the result OF -FOUR
DAYS changes
gfae'x fluctuations.