Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-10-24
stocks END WEAK.
,,1cx EXCHANGE AGAIN THE
,,n,rvs FEATURE OF MARKET.
FAIRLY GAINS SOON LOST
. =. 81. Paul. Illinois Central,
snd Eric. However. Hold steady
1loeipr Weak = Days Business
,ndcr 100000 shares.
Business

NEW YORK, October 2$.-Foreign cx-
,s..re was again the governing feature
II re Stock market to-day. There was
traelc speculation in exchange, be
...se Of the slightly higher rate for ster-
,-s Paris, and the resistance offered
:, ,so ocal market TO the volume of
:, -E,rs' hills put out during the morn
,r. These offerings. ii was believed, rep
-.smez limitations OF bills held in re-
,e-e sar saoh an emergency. Most OF the
5..s BUSINESS was done at 1851 for sat
a-sags steamer. Experts minated that
sn autmarG gold movement might soon
,s .nauauratcd. although actual ncgotia-
=aas r5uld not yet be contaminated on a
,-aasahIe basis. Later in the day demand
fariuE broke 20 points, and was offered
:: $3.50
-.rta can he said for the stock market,
which vas duller and more narrow than
o- thf previous day of the week Some
s.seaIative activity was shown at the
eang IN Baltimore and Ohio, Reading,
lr.. N;chisons. Pennsylvania ST Paul.
Missouri Pacific. and the st. Joseph and
G-8rd island securities. all Of which
s7rad slight advances. The rest OF the
list uas fairly firm, with practically no
demand Tor The Industrals. Further ac-
;5g..y vas shown during the morning ses-
son when Louisville and Nashville ad-
y.rlad . points. but elsewhere the list
made no material change Operations
continued almost altogether professional
AM some traders covered their short con-
i-aa,s an the theory that the market had
bfea 0rsr-sold.
1@APIT- GAINS lost
Tie early gains. with few exceptions,
we're soon lost. but such issues as Louis
vile and Nashville, ST Paul, Illinois Cen
. ana Erie held steady. Sugar and
International Power We're about the only
.algs,rials dealt in up TO this time, and
transactions in the latter stock were be-
llaged to be for pool account.
Up 70 the fnal hour there was no decid-
al pressure 10 sell. but in the late trad
iHg such stocks as Lacllawanna, Balti-
moro and Ohio Kansas City Southern and
NV IadUstr!als were hammered down to
lha 5Hest prices of the day. The LQui-
latt0n in Northwest was believed to re-
salt largely from the unfavorable view
raSe8 by traders OF the new relations OF
The Union Pacific road with St. Paul,
Rock Island. and Illinois Central. AS
Tagf q the extreme tenders of the
market d sale of 500 shares of Northwest
early in the day caused q drop OF almost
tHr points. The uncovering Of stop-loss
orders in the same stock caused q further
decline of almost three points, with net
igss II IL per cent, the stock recovering
on buying orders at the close.
CLOSE WEAK
The closing was weak. and the days
business vas under 100000 shares. One Of
;aa disturbing features was a report of
so9- troubles oa the southern Pacific
IN. Call money ruled at from TO
u per cent. most of the days loans
.r.1s made at the higher igure.
some OF the speculative issues IL the
fa1d mal.et We're heavy. hut the move
neuts were without Importance. except
p The Wabash Debcntures. The general
IFS, was Irregular ana dull. Total sales,
Tar value. 81, .S5, 600
Jnited States IS and IS advanced Ia,
and The new As declined ii per cent. on
515 last call
Ihs total sales Of stocks to-day wsc
81 ,a shares
MONEY AND EXCHANGE.
C!ose: Money on cali steady al 4d5 IL
PER cent; closed offered at 1. Prime mer-
tll= PAPER. i Per cent; sterling ex-
heasers' bill! at 4.S6504i.S6G25 for demand,
ar al 4S3.625 for sixty-day bills. Posted
rs. Asa l-2@iS7 IL. Commercial bills
s,-.lq $50.
5ar silver. so SIS; Mexican dollars, 3994.
Government bonds Irregular: State
bands slrcng; railroad bonds irregular