The times. [volume] (Richmond, Va.) 1890-1903, 1900-01-26
WAR NEWS ON
STOCK EXCHANGE
Creates Brief Period ofActiye Buy
ing by Professionals.
DEMAND FOR MONEY SLUGGISH.
Bond Market Was Rather Broader
Than That for Stocks, But Showed
Faliin. Off From Recent
Active Business.

NEW YORK. Jan 25.-Prices On she
Stock Exchange at the opening to-uas
reflected in degree an improvement rra ~,
London on the news that General Naiten
had capurcj the Boer position at Spioil
1iop There was a brief period OF active
buying by professionals IN eXi'ectIsstoii
that The spell on the market would pc
broken and an outside demand for stocks
= attracted. but the raiders early o electsu
that there was no competition o".S.CS
aneir own ranks for stocks, aad NV
The sagEing of prices below Inc LoIiuSn
parity made operations proataoie LOT tH ,'s
foreign arbttra.se houses, SINCE prlces, IA
London were well sustained at the niSicr
level Buying, fer foreign accounts IN the
international stocks was estimated ~
from 1900 TO 10000 shares, ana even tlilS
demand was largely met ny Sd.eS LII
Short account
The industrial specialies showea sdLi ms
in sympathy w1th the internauonais, pul
they were not we'll sustained an me
absence Of foreign demand. The absolute
inertncsS Of the buying demand prompted
some selling pressure by the bears asainsL
the indus'raals IN the last hour, bnI p.ae ID
seemed as unwilling to move down"aro
AS upward, end the shorts covered before
the close, which was firm at shshIiy DC
low the opening level in most cases.
The weekly returns of the Bank OIL
England and the Bank of France dis
closed a continuance OF the notable reiiuN
Into the cash reserves of those !tlsli.u-
lions, accompanied by continued nqulda-
ton of loan obligations 10 them open
market discount rates abroad continued
soft The demand for money in New ork
continues very sluggish. although the rate
Of inflow to the banks of cash continues
to decrease. owing to large revenue re-
cepts by the Government. Mercantile
paper is coming into increased demand,
and lenders of moey make additional con-
cesSionS in the placing of time loans. All
this has not the slightest apparent effect
In attracting any operations in the STOCK
market. which went through the whole
day after the opening squirt very near the
level of stagnation.
A feature III the outside market was a
demand for Standard Oil, which sold al
512, a record price.
The bond market was rather broader
than that for stocks. but showed falling
off from the recent active business. Prices
We're well sustained throughout. Potal
sales. par value, S2,34j.Ga0. United new
as coupon and IS registered advanced
II in the bid price.
The total sales of stocks to-day were
223,;'n0 shares, including Atchison pre-
ferred. 1850; Chicago. Burlington and
7NIo5: Manhattan. G020; Missouri Pacific.
SEQ: st Paul, 7..}:c,: Southern Pacific. H.
125; Union Pacific. 1850: American Steel
and Wire, S.410: American Tobacco. $3.50:
Brooklyn Rapid Transit, 21.245: Federal
Steel, J.935; Sugar. 1880: Leather, 1000.
MONEY AND EXCH4ANGE.-Money on
call steady at 2!1&u:s per cent: last loan at
: per cent: prime mercantile paper, $40
ST. per cent. Sterling exchange firm, with
actual business in bankers bills at Si.S7
for demand and at s4.Sil4 for sixty days:
posted rates, $50 and Sass: commercial
bills, Sd-S3G4.SSla. Silver certificates. 59R
@u1E; bar silver. 391@: Mexican dollars,
A. Government bonds firm: State bonds
weak; railroad bonds firm.