Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-11-25
STOCKS IRREGULAR.
Tacr nuE LARGEL, TO INCREASED
STRENGTH or FOREIGN
EXCHANGE.
DEMAND STERLING AT 4:87 IA
Pressure VIII he nrousht to Bear
10 Prevent outflow OF Gold-Ne~
movement in nanha,tnn Advances
Tint stock Two Points Net.
DEMAND STERLING AT 4:87 IA
Pressure VIII he Drousht to Bear
To Prevent Outflow of Gold-Ne"'
movement in Nanhattnn Advances
Tint stock T,v" Points Net.

NEW YORK. November e4.--Movements
al. leading stocks in to-day's market We're
irregular for the most part. this condition
being due in a great measure TO the IN
creased strength Of foreign exchange. De-
maud sterling was quoted al si.si Ia,
the advance resulting largely from fur
Thor selling Of stocks here for London,
together with heavy purchases oil eS-
change by prominent international bank
lnc houses While the high rate puts TINS
centre nearer the eold-export point. it
is still The opinion OF experts that pres
sure Mill be brought TO bear to proven,
an outflow of gold. even should exchanges
reach the level where transactions of that
sort could be proitabiy adopted Time
money was compare lively easy. mos.
tssns for ninety days OF longer beins
made at !. il per cent 1t is known that
considerable outside money not held by
local banks has been loaned at this figure
in the last few days.
Receiving no encouragement from Lon
don. where the market for Americans
was Gull and spiritless opening prices
We're generally lower. though tendency
toward Improvement was soon shown.
Early dealings in such stocks as st. Paul
Reading. Atchison, Manhattan. Metro
,,oli;an. Sugar. Colorado Fuel. and other.
actiVc issues were at a lower level bur
SOM, of these stocks, no>apiy ST. Paul
and Reading, soon recovered. Rock
Island issues made early gains of ana
?i-S Der cent. for the common and pre-
ferred shares. respectively. on heavy
trar1ss actions The strength Of these
stocks brought a sharp recovery, but the
list. soon developed another reactionary
tendency. pressure being shown agains,
Missouri Pacific. Southern Pacific, and
New York Central. all declining a, point
or more. with greater losses in Canadian
Pacific and Hooking Valley. Louisville
and Nashville was decidedly erratic,
starting with a ] point decline. raliyins
lls. aud then declining almost as much
The strength of the Rock Islands was
meanwhile well sustained.
THE INDTSTRIALS.
During The early period there were few
movements Of Importance in the indus
trials. Colorado Fuel displaying further
lieaviness, on reports of a renewal of the
contest for control, but in the later trans
actions recovering.s with net gain OF
:: points. on moderate transactions. in
the special class. Pressed Carr was high
ar while a single sale of New York
Air Brake was recorded at a decline OF
~ points. Trading continued dull ana
arSely professional until the afternoon,
when q new movement IN Manhattan adj
ranccd that stock to 1885, from which it
declined points. closing with a net gain
II points, on very large transactions.
The great bulk OF Manhattan buying
eas by Gould brokers'. The movement in
Manhattan stimulated buying in New
York Central and Pennsylvania bul
metropolitan and --roohlyn Rapid Transit
were little affected either way. The bear
faction traded cautiously. but took cour-
age from the absence of any news re-
harding the so-caled Manhattan deal.
and made q successful attack on that ano
other stocks. New York Central and ST.
Pau We're forced down, while attempts
To move ..ma'gamatcd Copper met with
Boston selling. Short covering in the
final dealings was hardly in sufficient
volume to prevent an irregular close.
London sold fully 10000 shares, a. totar
81 about 115000 in the last four days.
and bought nothing. The ,scl OF Lonuon
buying was attributed partly to the ap-
proa ching fortnightly settlement there.
BONDS IRREGULAR.
Bonds We're irregular and rather dull.
ilarly losses were largely recovered when
the stock market developed strength.
Total sales par value, s2.ooo.00o. United
States rs and as declined IA per cent.
on the last call.
The total sales of stocks to-day were
Ss2,1Oh shares.
MONEY AND EXCHANGE.
CIosa-NoneE on cali frmer at 4 per
cent: closing offered at per cent. Time
money easy; sixty days. per 5ent.: nine
ty days. 515@S per cent: six months, 5la
per cent; prime mercantile paper. 51&Gso.
Sterling exchange strong. with actuai
business in bankers bills at s4.S7.25 for
demand and at S4.S3.6e5 Tor sixty days:
posted rates, S4s4dS4.s4l4dstSs CONNER
cial bills. S4.SS0Si.S3.o0.
Bar silver, is. Mexican dollars S7a.
Government bonds weak State bonds
inactive Railroad bonds irregular.