Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-11-10
STOCK MARKET WEAK
A GENERAL DISPOSITION TO LIouI.
DATE SPECULATIVE HOLDINGS.
MONEY ON CALL 4 TO IA PER CENT.
Still Further Decrease i'm Cash
reserves Foreshndowed - Wheat
Deciines - December Closes I'm
chansed-Mny Lower.

NEW YORK. November "a general
disposition to liquidate in speculative
holdings was manifest in the stock mar.
net To-day. Early IN the day some general
strength was manifested, which was due
primarily TO the higher quotations cabled
from London. and which were aided by
the strength in special stocks. but the
growing stiffness of money. and the total
absence Of any outside buying demand,
discouraged The bull element, and they
were sellers OF the whole list as the day
advanced
The weakness OF stocks was very well
distributed. except for the special col
lapse in Leather. and affected all depart
ments Of the list The declines IN the
lndustrials and Specialtes are rather
greater because the commitments for
the long account I'm those stocks were
largs There was very heavy selling
throughout the railroad list, and a large
number Of prominent stocks in that de-
pdrtment show net declines OF "A point or
upward. I'm the Speciailes the average
runs between l and points for the lead
Ing stocks. An exception should be made
OF the Iron and Steel stocks. several OF
which offered good resistance % the de-
cline. Steel and Wire and American Hoop
were examples.
MONEY MARKET OUTLOOK.
Attention was almost wholly centered
I'm the money market outlook. The con-
tinuing demands on the New York banks
are REGARDED as fOreshadOWing stu fur
Their decrease in the proportion OF cash
reserves In the next bank statement Ihe
emphatic utterances OF Treasury oflcials
against the policy OF any further mea
gures of relief by the government dissl-
pated the hopes that were prevalent in
Wall street yesterday. As the banks nave
lost already To the Sub-Treasury some
thing like 10000 since last Friday, the
attitude OF the Treasury Department -
Important. New York exchange at Chi
cago fell again to-day 20 10 cents dis
count. compared with 10 cents premium at
the opening OF the week.
The continued expansion o, the inleri ,.
need for money. and the absorption by
the Treasury. by means OF the surplu
I'm the revenues, is met by the callng IN
of loans placed i'm the stock market on
stock collateral.
FOREIGN EXCHANGE.
There was a sharp fan in sterling ex-
change to-day, due partly 10 the nrmer
local money market and partly TO an
increased supply of cotton bills, when
are now coming forward I'm larger volume:
but the weekly statement Oh the bdhn
of England. showing progressive deciile
i'm the proportion of reserve 10 llaDlllty
precludes the hope of relief from that
The regeneration shown by the Bank
Of France in its weekly statement reheVts
the apprehension of an immediate rise IN
that institutions rate OF discount gu.
this is a small palliatlOn Of the generally
hardening tendency Of the worlds money
CLOSE EASY.
The closing of the stock market was
easy and near the low price level or the
day for most stocks. An incident OF the
day was a demand for silver certiileatss
tHN
The bond market was weak, in sympa-
thy with stocks Total 50 IS, par value,
8 $4,000. United states old AS advanced
j. and the new AZ, 3's. and 5s, registered
IS in the bid price. The declined -
TOTAL SALES.
The total sales Of stocks were 5i':SO
shares. Including AtchisOn, preferred, 3d.
2jO: Chesapeake and Ohio, 5,2uV; chicago,
burlington and quincy. 2,16O; Louisville
and Nashville. $3.50; Manhattan i6,l5O;
Missouri Pacific. 1890; Norfolk and West
ern, $50; Ontaorrieo. ana .s, Western ers;
preferred, 500; Southern Pacific, @.lzl'
Union Pacific. 1880: Union Pacific. prefer
red 63l0; Wheeling ana Lake Erie, o,oyV'
Wheeling and Lake Erie, second prefer
red, $50; American Sleel HOOP .'oy'
American Steel and Wire. 2S.l2O; Ameri-
can Tobacco II $40: Brooklyn Rapid Tran
sit. 30 $50; Continental Tobacco $3.50; Fed
eral Steel 25.425: Peoples Gas, 800;
Standard Rope and TWine, 5'fot' sugar
40 4S0: United States Leather, l55, 10
United States Leather prels.Ieu' 'iO''
MONEY AND EXCHANGE.
Money on call firm at 4G14 per cent.
last loan AT G: ruling rate. 10; prime mer-
camille paper. JQj2l per cent.
Sterling exchange weak, with actual
business in bankers bills az {Ls6AUN.Slz
for demand. and S.sileaSL&h Tor sixty
days; posted rates, H.S12 ana Sie'ss; conf
mercial bills. S4Ni5nsi&.
silver certificates. Jjia NC0is. Bar silver,
5S7.. Mexican dollars. ne.
Government bonds Irregular. state
bonds inactive. Railroad bonds weak.