Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-11-19
STEADY LIQUIDATION
This THE MOST SoTEwoRTHf
Er4rtRE.or n Y. STOCK MARKET
a SCARCITY: OF TIME MONEY.
c.,, Money Easy. and in Very Mod
-r.,c Deunnd - Manhattan thu
Extent OF l;:s.ooo shares.

NEW York. November 1s.-The most
noteworthy feai Ure OF to-day's market
vas the steady and persistent. though
moderate. liquidation Operations were
egain coInpaTatfpely small and profess
Sional throughout. such improvement as
,.as shown a; times being due chiefly
20 covering by the short interest. There
wa. scarcity OF money. which is loaning
at rates practically eQuaI TO ~ per cent
for GO and 80 days. There was no very
,nfavorable news Call money was easy.
and in very moderate demand. and gold
EXPORTS seemed no nearer than they have
been for weeks past 1t is clear. how
over. that pressure is still being directed
against certain OF the pool stocks. and
that the substantial interests are offer
;ng no real support.
opering prices were irregular. and
rather under the London level. Manhat-
tan was the feature OF the entire day,
opening with a gain. and selling 10 the
extert of $4,000 shares. with net gain
of o5s The movement still lacks explana-
lion. The other features of the early
trading were Erie, United States Steel
issues and Colorado Fuel. all of which
Showed Improvement. On the other hand
Reading Union Pacific. Canadian Pacific,
and St Paul were heavy. though not to
a marked degree.
PROFESSIONALS ON SHORT SIDE.
The professional element took the short
spite Of the steadness of Sugar and Man
haitian. The demand for Sugar shares
appeared to come from insiders. Louis
vile and Nashville was steady, presuma
bly, as a result Of the ratification Of the
Atlantic Coast deal Prices held barely
steady in the early afternoon. though
renewed pressure was brought to bear
against St. Paul. and Louisville and
Nashville lost all Of its early gain. Rock
Island also fell off. and Reading, which
was freely offered. sold a point lower
shan The previous days closing quotation.
The steadiness of Sugar was partly at
-ributcd to the advance in the refined
product. but that stock closed without
change.
A rcactionary tendency was manifested
by Colorado Fuel and Tennessee Coal
and iron. while the Steel stocks. Ameri
can Smelling and Amaleamated Copper
appeared to have some support. Later,
ST Paul rallied A trifie as did also Read
point Of The day. and the highest figure
reached in a long time The coming div
'dend on Sugar was offered at / 10 per
sent. which suggested the possibility of
reduction in the dividend from Z to 6
per cent.
RENEWED SELLING.
In he final hour. the list reflected re-
lewed selling, which though moderate,
was again persistent and scattering.
This movement carried prices down per-
certiis.y all through the list. with the
sxcer Ion of Manhattan. which retained
the greater part of its advance. There
WIS an utter absence Of commission
business London bought and sold equally
20 tila extent Of 10000 shares. all of an
arh!trage character, and the closing was
decide dly weak. In the local financial
sitra; on. the feature of interest was the
paH1n mt by the sub-treasury of S969oco
on Il. egraphic transfer from San Fran
cisco This is believed to represent Aus
7ralian and IIlondke gold received at
that cenrre The sub-trea sury transfer
red SZNo1o to New Orleans
RAILROAD BONDS HEAVY.
Railroad bonds showed heaviness
tnrou ,hout the day. but declines in the
active issues We're small Total sales
tpar yalue) So 40 900. United States bonds
.vere all unchanged on the last call.
Tho total sales of stocks to-day were
$1,000 shares. including Atchison. 1900:
Baltimore and Ohio. 500; Canadian Pa
,ific. IL 200: Erie. l.. 800: Louisville and
Nashville. 1850; Manhattan 1890; Mis-
souri Pacific 10. 200; Norfolk and Western.
k6o1: Pennsylvania. "a. 700 Reauing. $4,000:
St Paul 1900: Southern Pacific. 5000:
Union Pacific. i4.700: Amalgamated Cop
per is, 400; Brooklyn Rapid Transit, 1885;
dorado Fuel and Iron. -. 600: Sugar,
$500: United States Steel common. H.
300: United States Steel. preferred, $500.
MONEY AND EXCHANGE.
Close.-Money on call firm at 1867 per
cent; closing, bid and offered, at per
cent, Prime mercantile paper, 51a96 per
cent
Sterling exchange steady, with actual
hnsin ess in bankers bills at s4.16SIo Tor
sieman nd and s4S2.75 for siXty-day bills:
posted rates. s4.S5@s4.SS: commercial bills.
t.S3m 81 .SS1a.
Bar silver, 1914: Mexican dollars, SO.
Government bonds steady. State bonds
Inactive Railroad bonds easier