Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-11-07
STOCKS EZRA Tic.
CLOSING PRICES NOT FAR FRoM
"WEDNESDAY NIGHTS LEVEL.
MONEY RATES RATHER FIRM.
Foreign Exchange Also Firmly
Hcld-CIo.inE of stock Market
Ea.y, with Some Securities at the
Lowest OF the Day.

NEW YORK. November 6.-The course
of stock prices was exceedingly cratic
all OF to-day, and the closing prices were
not far from last nights level. The con-
stantly varying movement was seemingly
1iuc TO the cropping efforts of the profess
sonal operators TO discover the current
:n the market. The result Of their eX-
pcriments seemed to show that there was
40 current. Speculative sentiment mas,
On fact. come TO standstill and is wait
sng for new developments. The factors
which have induced the recent downward
tendency of prices are still in force, 10
greater or less extent, nut the weil-estab-
aishe6 principle Of speculative markets to
discount the future makes it doubtful
when q current movement Of prices has
run an adequate course 10 accomplish
this object. Apprehension still exists that
.hore will be large Withdrawals of gold,
with a resulting squeeze Of money rates
in The local market. The advancing ten
Gccy of wages and the high prices OF
materials keep alive the uneasiness over
tho proportion Of the earnings which Will
be left for stockholders. But it may be
possible that the considerable decline in
prices which has already occurred may
be sufficient 10 discount these possibilities.
AT all events the bear operators who have
gone short Of the market took sufficient
account of this possibility to want to buy
stocks to cover their short contracts. The
$l.;., Of
newcd selling, of a rather concentrated
character. The origin Of this selling was
a mystery, and opinion was divided as to
whether it came from the bears or was
further liquidation of long accounts. The
stocks most active in the trading were
those which have been recent favorites in
The speculation. There were gains of L
10 ] l-2 at ono time in about dozen
railroad stocks, and half as many spe-
cislities. Cotton Oil had the benefit of the
dividend declaration.
SUGAR BREAKS SHARPLY.
Sugar broke sharply after early
strength, because Of fears Of further
cut in prices and rumors Of a rate war at
Missouri river points. The coalers were
under some pressure, owing TO reports OIL
renewed troubles at the collieries of some
OF the independent ODGTdtols, anu LeiSf>-
:1wanna suffered in addition on its show
ing of earnings for the September quar-
ter, which revealed a reduction of net
earnings, compared with the correspond
ing period OF last year, of 81, 10000
Money rates were rather firm and for
eign exchange was also firmly held. The
closing of the stock market was easy. and
with some sticks at the lowest of the
day.
The movement of bonds was narrow
and irregular. Total sales, par value, S.
090OoO. United States bonds were all un-
changed on the last call.
The total sales of stocks to-day were
&C., 500 shares
MONEY AND EXCHANGE.
Close: Money on call firm at 5d6 per
cent closing bid and asked. 5G6; prime
mercantile paper, S 1-2a6 per cent.
Sterling exchange firm, with actual bus
3ness in bankers bill at 4.SS.S75@4.S1 for
demand, and at Ass. 625Q44.S3.75 for sixty
day bills: posted rates. 4.S4l3 and 4.S1l4G
Ass: commercial bills. 4.S3 L.
Bar silver, % IS: Mexican dollars, 80 Il
Government bonds steady; State bonds
steady: railroad bonds irregular.