Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-10-16
SHAW TO The RESCUE
u,MoRED THAT HE WILL Bur
LARGELY OF GOVERNMENT noSDs.
AND TURN LOOSE MILLIONS.
rhe Money Market Easicr--A Mark
cd Tone of Confidence Prevailed
believed That Modification. of OPP
erators' Terms Would Relieve
Strike Situation.
THAT HE WILL nuY
LARGELY OF GOVERNMENT noNDs.
AND TURN LOOSE MILLIONS.
~. Money Market Easier-A Mark

MEM YORK, October i5.-Fnrther pro
rrass was made toward a higher level Q,
,riccs in the stock n,arge, today. al.
though there were no new actual devel.
opr,oa;s In either the monetary or the
coal strike situation 10 indicate any mate.
rial change in conditions. Nevertheless tht
ceiling was prevalent that the coal Strike
Sonld reach an carly anaicahle end and
tbs; uea sures are 10 DC taken by Secre.
tsry Shaw that will shortly relieve the
present stringencv Of the money market
HIS action was said to be in the nature
OF further large government bond pur-
chascs and various interests are to be
credited with holding large amounts which
v,orlG he shortly turned in The sums
named ranged from SO, eio. 900 to $50 600 o00
and The report was vigorously circula ted
throughout the street Whether there was
arv foundation or not IN the rumor, the
money market rcdecied greater ease than
in some time. call loans opening at 9.
the highest and shading gradually to 5
per cent.
POSSIBLE MODIFICATION OF TERMS.
Considerable attention was given to the
report that there would be certain modifi-
cations in the terms proposed by the coal
onerators for settlement of the strike
eh.ch would insure less opposition from
the miners in the points contested. Moth
ing definite developed regarding this re-
mort. though il was colored to some ex-
tent by the heavy buying of Reading,
yhlcn showed considerable strength
throughout the day. The dealings were
smaller tnan usual in other stocks of
this class. and there was a disposition in
general 10 await active developments be-
fore nursuing active operations in this
quarter. Recent speculative leaders
among the Changers. Pac.tlcs, and South
sestern STOCKS were bought freely, and
he entire market showed decided strength
II one time or another.
81. Paul. Louisville and Illinois Central
rere conspicuous in the days dealings
and made exceptional advances of
POINTS Prizes elsewhere averaged point
7retty generally. with quite an active
demand in numerous sDecial:ies. The
Gould stocks. as 4 group. received the
most consistent support, the heavy buy
Ing in Missouri Pacific having o sustain
ing effect on the lower-priced stocks.
Trading lacked the breadth and ac-
tIvity of the early operations of the week
hut there was marked undortone OF con-
fdence in the general situation.
EXCHANGE RATES DECLINE.
Sterling exchange rates made a fur
her decline to-day and there was some
ak of the likelihood of early imports
II gold The payment to-day of the sec
,nd i7stallment Of $4,000, 00y on the Louis
yjlle and Nashville account, was looked
10 as constituting toward further ease
In the money ton, as the FUNDS VIII
probably, be 1edistributed again through
The usual banking channels
I, INC late session stock trading was
virtually stagr.ant at times. and especially
p.hen The market was under pressure from
rrol}zing sales. There were occasional
bursts of activity, and these, as a rule
were marked by advancing prices. Profit
taking sales outweighed the buying or
1ers IN the final hour, and there were a
lumber OF important reactions, Whlch
s.o-e not checked by final upturn in ST.
pauI ia The best. The closing was dull
ind easy
The bond market was dull to-day, bu,
,7is,lsyed a firm tone. The total Sales
par value. were s2,415,ooc -
Total sales of stocks today were eoi'-
TO- shares.
Money on call firm at 5@9 per cent
closing bid, 6Q7; prime mercahuie paper
per cent ~. +,,.,
,,,,eiress IN bankers bills at 1880 Tor
demand. and at 4.S225@4S 23I5 for Sixty
ta,.s. nosted rates. a.S3 1-EGss0 L. COM
,nerc!al bills, 4.Sl1S@4 81 o "a
Pnr silver. so -; Mexican dollars. AZ.
Government bonds firmer; State pohos
inactive: railroad bonds firm.