Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-11-11

LIQUIDATION ON LARGE SCALE IN
WALL STREET.
MONEY OUTLOOK STILL DOMINATING.
Call Rate Opens nj ~ and Runs Up
10 I5-Another Surprise Possible In
To-Dny's bank Observation-Disclosures
Markets.
Markets.

NEW YORK. November 10.-The early
part OF the day In the stock market was
given over to a continuance Of the throw
UNCOVER OF stock holdings which was In
evidence yesterday. The liquidation was
on a large scale. and embraced all de-
partments OF the list. The more highly
speculative industrias showed the widest
changes, but the selling Of the standard
railroad stocks was fully equal in amount.
There was no stock or group of stocks
which took a conspicuous place apart from
others. unless 1t might be said that the
iron and steel stocks were relatively
somewhat frmer than the general list
The same might be said Of Northern Pa
cinc and Union Pacific.
Declines at the low point exceeded a
point FOR many standard railroad shares,
and In a few cases reached upwards OF
2 poInfs Leather, after a break OF
uintg rallied somewhat, and retired into
the background Of trading, the transac-
lions in II being small for the remainder
of the day sugar and Manhattan we're
rather weaker than the balance Of the
list. but they rallied with considerable
vigor. The latter part Of the day was
given over 10 a gradual and very general
recovery from the earlier decline on
much diminished volume of trading
MONEY OUTLOOK.
Most Of the leading railroad stocks rail-
lied large fraction and a number of the
specialties between l and points. Con-
slderation Of the money outlook continued
10 dominate sentiment on the Stock Ex
change The banks continued TO call
loans for large amounts, the rate for
call money opening at u and running up
10 10 per cent. Large amounts or stocks
held with borrowed money were thrown
upon the market. After each successive
period Oh liquidation the market fell into
a condition Of semi-stagnation.
During the afternoon the rate for call
money dropped of as low as 3 per cent,
and demand for stocks developed which
caused the recuperatiOn IN prices TO the
closing level The usual preliminary est
mates Of the weeks cash movements
showed a rather smaller shipment
10 The interior than had been esti-
mated. though the loss 20 the SHb-Irea-
sury OF 8 900 900 was up TO anticipations;
The weeks net loss IN cash - inquired
az over $4,000 go for all causes. The easing
I'm the money rate late in the day served
70 amsliorata the dread that tomorrow
bank statement would show an Increase
IN the deficit The loan contraction during
the week has been large. There was a ru-
NOR on the floor OF the Exchange that
the banks' resources had been increased
bv means OF cash deposited by fnsutu-
tions in New York city. with a view 70
relieving the situation. This rumor cOula
not be traced 10 any authentic source, Dut
affected sentiment on the Stock Exchange
and inclined speculative opinion 70 look
for another surprise IN to-morrows oank
DROP IN STERLING RATES.
The stir money market resulted in a
further drop I'm sterling exchange rates,
which was assisted also by q buying or
stocks here for London account, estimated
al as high as G0,O00 shares New YORK
exchange at Chicago rose again 70 par
but al New Orleans the exchange contin-
ued TO run against New YORK. -.,-..
The prices Of bonds moved in sympathy
with those OF stocks early In the day,
but failed to respond TO the light recovery;
Total sales. par value. $4,000. United
States 3's advanced 4 and old IS. regis
tered. X in the bid price The Ss' regis
The total sales Of stocks were 72S.5oO
shares including Atchison. preferred 30
$50: Chicago Great Western, $50; Chlca-
go. Burlington and Quincy, 23.Ss5; Rock
qs50: Manhattan. 1895; Metropolitan,
G.is8: Missouri Pacific. 1850: New 6ork
Central. G130 Norfolk and western, 800
Northern Pacific, 1855; Ontario and West
ern. 1000: Pennsylvania. 7il5; Reading.
frSt preferred 1850: s.. Paul. 26.1s);
southern Pacific. $3.50 Southern railway,
Z 1-O. Southern railway. preferred, II. 70;
Union Pacific. 1870; Union Pacinc, prefer
red. 1882: Wheeling and Lake Erie o,9,y;
ivn RAND Transit. 1880; Continental To-
Iacco. $3.50; Federal Steel 1880; Sugar
G. 25); Peoples Gas. N1S; United states
Leather. 63 1875: United States Leather,
preferred 6.7l0
MONEY AND EXCHANGE.
Money on call easy at 3dl5 per cent;
last loan 8: ruling rate u; prime mer-
camille paper. 6G54 per cent.
Sterling exchange weak. with actual
business I'm bankers bills at SL&5sG A.Sj%
for demand. and &a%GSL2 for sixty
DAYS; posted rates. S&aSiS}l5 and StsIg
s. S7l6: commercial bills, &Sl.
silver certificates. 59&G60lz. Ear silver,
5gh Mexican dollars, 41b3.
Government bonds irregular. state
bonds inactive. Railroad bonds steady.
BANK CLEARINGS.
The total bank clearings in the United
states for the week We're 81. 10, SS8; per
cent. increase. 36S. Exclusive OF New
York. S6i6 546 S05; per cent. increase, ztS.
New York stock Quotations.