Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-11-06
RENEWED DISAPPOINTMENT ne
ELECTED IN LIVELY SELLING.
HIGH IN THE PROGRAMME.
Market Fails TO Respond t" the
coursc Marked out-The Post
Elections Boom Declines to Ma
crtnlinc-watchins for tho Gull
m:na,ins Point of Prosperity.
'aiI, 10 Respond I" the
crtnlirc-waschins for the


NEW YORK Noveinbe:, 5.--Thc hopes
,.ferred al some of the large speculative
,.alasrs OF stocks MADE their influence
f-t in to-days stock market. And the
,-,awed disappointment of these hopes
sss reelected in the lively selling move
,ssnt with which the market closed, and
lorc which nrices receded j 10 4 points
lsvar than Mondays closing level In
ers morning Spurt fractional advances
trreTr very general, and reported u point
,r more in ono or more prominent stocks.
tH5s buying was clearly based on the
naosiuon that the elections being over
4s,ivs interest in the stock market WAS
10 ta revived.
ATTEiBETEn TO THE ELECTION.
There has been well-deilned assump-
:aa. amongst a certain speculative class.
SHAT the recent scmi-sta gnation has beca
to HE anxiety over the outcome OF
ta. elections. The list was made UP
MOSTLY OF the members OF largo specula-
.H.g uoois which have constituted them
.Na= the champions of various lromi
rput stock, or winch they nave tahen o..
.E ines with the intention of pushing
.afr Qri@os 10 a higher level ana then
~ualE nGt at Il pront. The history OF
-na recent stock market has been mace
5 UG I8t lcttinS-Go Of successive parcels
ii tagso large holdings by the pools. The
.enrllStralAe buying at the opening
rsrm evidently came from these sources
tuu was intended To SignaiIze the sup
posef passing Of the period OF deprcS
aE ne liquidation. however. that met
ila advances We're OF 4 character 10 dis
courage all Efforts 10 put UP prices. and
was quickly demonstrated that the re-
,sat depression of the market was due
~ other causes than election uncertain
40 GOLD EXPORTS.
These causes are of so general . char
ter and have been so widely distributed
,.a not to require charging upon here.
As 10 one OF the most important OF them,
-ae prospect OF gold exports, to-daY'S I'M
mediate development moved against eN-
5grt probabilities Sterling exchange at
Paris. which is the real centre OF the
pressure FOR gold, advanced a fraction
aua money discounts were easier in Lon
don Call money was slightly tirmer in
New York. The consequence was that
fl1 engagements Tor exports We're made
!ar shipment by to-morrow's steamer. as
ls3 been expected by sooG authorlty, but
gil is believed that the autumnS demands
ul5n the great foreign banks for the
leeds OF circulation Of money Tor Iur-
poses of trade will ultimately result in
thdrawing considerable sums from the
THE ELIMINATING POINT.
The question of increa sing labor cost,
both in transportation and in manufac-
rIrg, which has been brought up by the
nthracite labor trouble, keeps attention
fH'.EtiN iiAt0 upon liz Pipb4F!it VI tAIS
Eliminating point OF the period of pros
Gritty. When the rise in prices reaches
i stage at which cousumptive demand Is
,heCEeu. the eliminating period OF indus
al activity is TO he expected.
Speculative attention just now is lkcenly
alive for symptoms OF tnis condition.
The pressure to sell was felt in the
bona market. but in less degree than il
active stocks. Total sales ipar valuel.
81 $4,000 United States bonds were all
unchsnG&d on the last cali.
Total sales OF stocks to-day We're 1850
.saarcs,
MONEY AND EXCHANGE
C'loGc-Noncy on call firm a Alas per
cent; closing, bid and asked. 4d5c.; prime
mercantile paper, 512G6 per cent. Ster-
Ing exchange iirmer, with actual bust
ness in bankers bills at $i.S6.SI5 for de-
luand and at 81. $3.50 81 625 for sixt2'
days; posted rates. $4.4q$4.S4l2 and S4S1l2
GsS4SS; commercial bills, $l.S2&4 0$i.S3i4.
Bar SILVER, SOS; Mexican dollars, 3S&;
Government bonds steady. State bonds
inactive Railroad bonds weak