Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-09-19
READING APATHETIC,
crock MARKET .,AfsTxsss IT'S
rSpERroSE OF STRENGTH.
The MONEY MARKET QUIET.
snses sin stiff. Howcrcr-Lonn. Arc
Left undi.turhed. and There i. No
rres.are of Lianidation Gould
Group Most Active of Stocks.
.rock MARKET MAINTAINS ITS.
rSpERToNE OF STRENGTH.
The MONEY MARKET QUIET.
,otes sin sttn, Howercr-Loan. Ar,
Group Most Active of Stocks.

NEW YORK. September ls.-The stock
-srket maintained It's undestono of
,-ensth to-day, but the trading was ex-
.-sH,cly apathetic outside spotty as
.stracDi OF stocks. which. show Of
.,rfnsth helped 10 sustain the general
list. The money market was quiet, but
aids were still stiff. Loans were left
tnd!stubed. however. and there was no
PRESSURE Of liquidation. The level Of
,-ices. therefore, was not disturbed. ex-
ept hat the sympathetic influence of
ne strong stocks helped to harden the
market, Tho Gould group was the most
.clve, Reports Of a plan were current,
nth color OF official sanction providing
Or an exchange of st. Louis Southwest
,rn preferred for a Missouri Pacific bond.
This was interpreted by speculation
Man Missouri Pacific contributed to the
movement late in the day, and took the
leadership Of the whole market. The
return Of President Gould from tour of
Inspection helped to stimulate the move
ncnt
Rock Island made a much larger gain
on q small volume Of dealings The ad-
vance vas based upon the decision of the
Iowa State authorities that the Rock Is
land reorganization plan is not in contra
ventioH of the Iowa law. There was ac-
t!Yty and strength in the curb mar
Ike. in contracts for the new Rock IS
lfnd securities. The stocks of indepen-
dent steel companies were strong as a
~
ordinary pressure of orders for all grades
Of iron and steel products, and a degree
of activity in production which is lin
tied only by the supply of material. The
freezing weather in the Northwest was
ignored in the corn and wheat markets
which helped to stiffen stocks. The COM
parative heaviness Of some of the South
err railroads may have been due to the
persistent unfavorable reports from the
cotton crop.
MONEY OUTLOOK.
The money outlook continued the prn-
cipal topic Of discussion in the financial
district There was no radical change in
the situation to-day. An additional en-
gagcnent ofSSt0, 900 of Australian gold was
announced to arrive several weeks hence.
The banks continued to lose to the Sub
Treasury. Notwithstanding the disburse-
tHtI!A ny tllat ocCOult 0l
october government interest, the customs
collections and the deposits for transfer
% the interior more than Offset the in
tercst payment. However. loss to the
Sub.Trea sury since Friday has reached
only $.25S, 900, compared with 81, I25.Go1 for
the same time last week. While the drain
is thus reduced, it will be seen that moth
ing Of the needed recuneIati of the
banks reserves has been afforded by the
Treasury measure Of relief
The fact that the Bank Of England re-
framed from advancing its discount rate
today was given favorable interpre-
tati7n. but sterling exchange here con-
tinued to harden to a full cent above the
low level of the week, carrying exchange
well away from the gold import point.
CLOSE DULL AND STEADY.
The market closed dull and steady. The
Total sales, par value, s., 2a0.0 United
States rounding IS advanced ga. the IS
IA and thesold As Is per cent The new
IS declined Ii on the last call
The total sales of stocks to-day were !
s5ol1 shares. including 7Atchison, 500:
Canadian Pacific, $500: Baltimore and !
Chic $500; Rock Island. $500; Eric. 6.609; |
Illinois Central. 1900, Louisville and |
Nashville, 500: Manhattan. $500; Mis- |
souEi Pacific. 7e,eO0; Pennsylvania. 1880: |
Reading, $500: ST. Louis Southwestern |
preferred, 6,soG; St. Paul. 2s,6oo; Southern
Pacific, 1l6oO; Southern railway. 610o; |
Union Pacific, 800; Amalgamated Cop
per $500; Brooklyn Rapid Transit, 610o; |
Colorado Fuel and Iron, l7.7oo; United |
States Steel. 1860; United States Steel |
preferred 6.s50
MONEY AND EXCHANGE.
aeaey on call firm at 6GS per cent;
closing hid and asked 6G7; prime mer-
camille paper. 524d6 per cent.
Sterling exchange steady at the adj
vance, with actual business in bankers
bllI al iS6 for demand. and at 4.SS for so
Gays; posted rates. s.SS 1-2&14.S4 and 4S6 1-2;
commercial bills ASP 1-2@4.s3.
Bar siIer, 81 1-2: Mexican dollars. 40 10.
Government bonds irregular: State
bonds easier; railroad bonds steady.