Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-12-04
STOCKS IRREGULAR,
No SPECIAL Features MARK THE
DAYS TRADING.
MONEY is GROWING TIGHTER:
SO rand. Offering on Call at Less
Thnn . Per Cent. Though Rate De-
,,;pr, Inter to Les. Thnn G-Tfme
Money Distinctly Firmcr.

NEW YORK. December s.-Priccs were
both above and below last nights level in
.o-6ay.s r,1arKct. The trading. which has
tocc;l strictly professional 10! several
DAYS. was in the hands Of the smaller
class OF traders. and their operations
showed Increasing hesitation and uncer-
,ajnt. There were occa sional attempts
on The part Of speculative pools to put
IN prices. hut any considerable advance
met realizing sales OF sufficient volume &c
check tho rise. The pressure TO sell was
not al all urgent. and showed prompt re-
Taxation at the lower level of prices.
where supporting orders We're also en-
countered. The result 4 constant
shifting Of the course OF prices. within
narrow range. There were no special
features to the trading. although the re-
cent speculative favorites maintained
their prominence. These were the local
fractions. ST Paul, Louisville, the Paci-
Scs. New York Central. and several Of the
others
The movement; on these pretty con-
sstent, the whole group moving upwards
or downward when any one stock took
:he initiative.
An advance in the price of refined sugar
failed 10 differentiate sugar from the
general movement in the list. Renewed
weakness in :hc silver market and a re-
action in the London copper market from
yesterdays sharp advance were reflected
in American Smelling and Amalpamated
Copper.
The chief rcpressive influence on the
speculation was the Tightening course of
the money market. There was no money
offering on call at less than per cent. at
the opening The rate subsequently de-
clincd as low as 6 per cent. during the
active period of the day. and TO below
that before the close. Time money was
distinctly fiimer. per cent being quoted
for all periods UP TO six months with
Il commission demanded for the shorter
periods. which made the rate equivalent
to1 per cent. New York Institutions were
entirely out Of the market for ncrcan-
lille paper ana even the prime grades
brought per cent.
MORE GOLD FOR SOUTH AMERICA.
An additional cnsa cement Of 100000 in
gold for South America was announced.
making the total shinment to-day
si.oo1.000 This operation. amounts to d.
version Of the demand from South Ameri-
ca upon the Bank Of England for gold
from that institution TO New York Dis
counts In London consequently eased off
Today. Sterling exchange here held
steady. but advanced in Paris, SO that
exports Of gold across the Atlantic ar.
not feasible The Sub-treasury continue.
10 draw on the New York money market
the loss since Friday on that account
having reached So. 600.
There WIS deposited al the Sub treaslry
today, 100000. for transfer to New Or
Jeans. Chicago exchange however re-
mains at par. The trading element show
ed its disappointment that the Presidents
message had failed to stimulate specula-
zion, and with the additional discourage
rlent OF the high money rate, there was
q progressive decrease in the activity of
the market
Bonds were dull and irregular Total
GALES par value, 81 700. 600. United States
bonds We're all unchanged on the last call.
The total sales Of stocks to-day We're
$4,000 shares.
MONEY AND EXCHANGE.
Close: Money on call firm al S01 per
cent. closing al per cent. Time money
strong: sixty days. 6 per cent: ninety
days. 6 per cent: six months. per cent.
Prime mercantile paper. per cent.
Sterling exchange steady with actual
business in bankers bills st $500 for
demand and al S4S36o FOR sixty day bills:
bills. 81 .S22a@s4S3 IA.
Bar sji''er. a IL. Mexican collars. -.
Government bonds steady. Railroad
bonds, Irregular