Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-03-26
STOCKS VERY STRONG.
The transactions over 500, 900
shares.

NEW YORK, March 25.-Stocks were
very strong to-day, and with transac-
lions Of over half million shares In the
two-hour session, material gains were
quite general. and quotations closed at
about half the best. Expectation that
the bank statement would be favorable
was an early incentive to purchases. and
when 1t appeared, although showing an
increase of only half q million in the
surplus reserve, ii received favorable
Interpretation, and most stocks con-
tinued their progress upward. The firm
ness of American securities In London,
In anticipation OF the fOrtnightly settle
ment, the temperance of large factors
In the market, less apprehension ~ to
the monetary situation, and the nearness
TO the close Of certain State legislatures,
were all assigned as reasons for conf
dence in market operations.
The announcement Of the formal trans
fer of the Brooklyn Union Elevated to
Brooklyn Rapid-Trapsit interests gave
particular buoyancy to the Transit Com
pany's stock. which rose az points on
large dealings. There was a jump of 4
points in Long Island Railroad, which is
understood to have working arrange
ment with Brooklyn Rapd-Transit: There
were sympathetic advances with Transit
in other local transportation shares,
Metropolitan figuring for A. Third-Ave-
nue. for 4. and Manhattan for a fraction.
CONTINENTAL TOBACCO UP.
Among the Industrials Continental To-
bacco preferred got up "a, Federal Steel
Is, Peoples Gas l. and Consolidated Gas
Among the Vanderbilts there were adj
vances of ~ in New York Central and
each for Illinois Central and Canada
Southern. Increased interest appeared
among the Changers. with improving
prices. Burlington leading with IA.
Strength was also displayed by Atchison
preferred Southern Railway preferred
and st. Louis and San Francisco.
Although most loans were made on
Friday TO carry over until Monday, the
fact that call rates ruled to-day at per
cent. was favorably commented upon,
and the market closed strong.
STANDARD oil closed 47inf5.
This weeks bond market showed a
generally healthy tone, with notable I'm,
provements in many securities. United
States new As, registered, advanced q;
do. coupon, X; the IS and IS and old As,
coupon, Y, and do, registered, ", In the
bid price. ooo
The total sales OF stocks were 5i7 500
shares. including 1926 Atchison; 1926 DO,
preferred: %. iSj Chicago, Burlington and
Quincy; 1870 Manhattan; stS Metropi-
tan; 5000 Reading, first preferred; sSlo
New York Central; 6.7io Northern Pacific
7.54O Rock Island; $40 Union Pacific
77s5 do. preferred: 1908 81. Paul; s,iol
American Steel and Wire; 3,sl5 Federal
steel: ii, 6l5 do, preferred; li'sE9 Peopie
Gas: 113, $50 Brooklyn Transit; 6,ito sugar;
q 900 Leather. preferred; l3,lOO Chicago
Great Western. ...,r-
MONEY AND EXCHANGE.
Money on call firm al per cent; prime
mercantile paper, 3Amii2 per cent Ster-
ling exchange steady with actual 3c J. bust
ness In bankers bills at Si,Saq $is9F for
demand and 81. S3isMsf SEX for sixty days;
posted rates, S4.sia$LSils and s4.s61s com
mercial bills. sissy $1,000,
Silver certificates nominally 60nbVi2. bar
silver EgS Mexican dollars. Az.
state bonds inactive. Railroad bonus
strong. Government bonds strong.
BANK STATEMENT.
The weekly bank statement shows the
following changes: $4,000
Surplus reserve. decrease. $5l6,io
Loans. increase, s 53OVtJ.
Specie, increase, $685.
Legal tender, increase. Sl2s,SOo.
deposits. increase, S,399O0o.
Circulation. increase, $50 100.
The banks now hold Ss.55l,42o In excess
Of the legal requirements.