Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-09-09
THROUGHOUT
rock MARKET MAINTAINS FIRM
TONE FROM START TO FINISH.
MONEY AT ONE TIME AT 10.
moro depletion of Local RE-
.onrce. Further Indications of
pistntesrntion of sofs-conl Strike,
Blu. No News Bearing on the An
.Iracite itnntion.
MONEY AT ONE TIME AT 10.
: depletion of Local Re-
tLracite itnatfon.

4 .ry YORK, September s.-Persistent
! .,-.,r.h in the face of continued high
e. which at che time ruled at 10
,.- cont. and a further draining OF local
& .oso,,rcns were the most striking TEA
q -. Of ,o-day's stock market. Under
,"4on,s lead. the list ignored last week
SIX statement, opening with out the
II sy:rbtast trace of irrcSuiarity, although
this condition became rather acute before
4 a.. ., md Of the first hour. when demand
u ~. W. we're quoted at s per cent. Appar-
d w. w., the buying movement. which was
n -, largely speculative. was based upon
Il .ss assumption that continuance of high
q .,.,ey would bring the gold imports.
II ISsainc common advanced about =
n Its in the initial trading but soon lost
d mich of its gain, only to more than re-
q nornr its loss at the close. other early
Il fs.tures in point Of strength and activity
.s-s Missouri Pacific. St Paul, Baltimore
an5 ohio, Wabash issues. Canadian Pa
Il nI,ic pacific-Coast, Pacific Mail. and
q s,rna other railway issues, while in the
L. 4.striaI class there Were very material
d raIns in the independent Steel and Iron
4 s.n,l,s American Smelling and Copper
d NJ. high records were again the order
q NJ The day. ST. Paul. Minneapolis, st.
d Paul and Sault Ste. Marie, the Pacific
Coast common and second preferred,
American Car and Foundry, Pressed
y Steel Car preferred, Republica Iron and
4 Steel common and preferred. Cast Iron
4 Pine and Railway Steel springs selling
higher than at any previous time. In the
oufside market heavy dealings in North
ern Securities advanced that stock to
rSl2 n new high record, and there was
considerable activity in the Rock Island
The recessions of the early market were
clearly due to proft-taking. no less thar.
apprehension over the monetary outlook.
But from start 10 close the market main
4 tafucd firm undertone.
Reference has already been made to
4 The dominance of the speculative element
IN to-days transa ctions. and it is a fact
that commission houses report little in
creSse Of investment or public buying.
4 No less true. however, is it that much of
to-days buying came from strong quar-
ters Missouri Pacific and ST. Paul for in
stance being bought in large blocks by
brokers' who were said to represent the
so-called Standard Oil interests. Western
adviccs. rciterating promises OF bumper
crops in Missouri and Kansas, are sup
posed 10 have stimulated the buying of
tie railway stocks Of that territory Lon
don traded moderately in the market,
selling about 5000 shares on balance. out
Of a total OF 5000 shares. A significant
feature was the unusually heavy de-
nand for stocks in the local crowd, espe-
sally Union Pacific for immediate deliv-
cry Rumors of the purchase of Detroit
Southern and Pere Marquette by Penn
syhania interests We're not contirmable.
Further indications of the disintegration
Of the soft coal strike We're at hand, but
nc news bearing on the anthracite sI,u-
alton was Heard.
PONDS ACTIVE AND FIRM.
The bond market was active and firm.
With a point rise in the Wabash deben-
lures, Oh enormous dealings. There was
no news to account for the extra ordinary
activity in this issue, but the opinion was
expressed that it was in the nature of a
Speculative movement. based upon the
Strengthening Of the system. Total sales,
! par value $3.50, 900
United States old As declined X per
cent, and the new As registered advanc-
cd l1., and the coupons ia per cent, on
HE last call
MONEY AND EXCHANGE.
Money on call firm at G610 per cent,
closing offered st I; prime mercantile
paper 5G51a.
Sterling exchange steadier at the de-
cline, with actual business in bankers
nils al i.So.25 for demand. and at 4s3.509
ESS"ta for sixty days Posted rates, 4.s2I1z;
commercial bills. 1872 75Gs. SO %.
Bar silver SIX. Mexican dollars 401k.
government bonds irregular. State
ponds inactive. Railroad bonds firm