Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-10-14
| VIOLENT BREAK.
rs MARKS NEW YORK STOCK
,,vKEr AT THE OPENING.
ALMOST COMPLETE RECOVERY
,hc history of tho Market later
a. tho pny-ciosins Prices show
r,, Gnin.-Nothins Definite About
strike settlement.

,.r-u- YORK. october 13-A violent and
u,s. uneoncerted break in prices this
u.o-n,nc. and a practically complete re-
o-,, thereafter. make the history of
,s,,,s market Tho closing prices
,,,r-ad sprinlllins of net gains amongst
80 ~ the most important stocks on
~, ,,st. reaching a point in Reading, and
o,..~io and Western. At one period be-
,,-a noon. there were ragged declines in
s,,s.n5 Of All the way from / to IL
..,,,s from Saturdays level. many of
No leading speculative stocks having
,,s. ? 10 points in the two hours OF
,-osirc The sentiment in the Street
,sr,a3 mixed before the opening. under
-. ,nauences Of the reports that a set
,,.,,o,t Of the coal strike had been ar
-s-reA and the admonition contained IN
,sa saturday bank statement that there
,,,,st he further contractions of loans
riaroS In the stock market.
Tho latter influence swept away ali other
,o-siscrations. and. with the exception OF
.,or9entary rally, after the opening.
n The taking of bear profits by Sat
.g4a,.'s short sellers. the market pursued
. s.ssdv downward course. under q cor
,nao,n. stream of liquidation. 1t was
,rssnt that further selling out on the
na-, Of some Of the large speculative
,o,Is was going on. presumably pressure
- me demand from money lenders for
,s,a,9Dent Of loans. The Gould South
,,.ssrern's s, and some Of the stocks In
,,.tirh the eo-called Western contingent
have operated largely. were notably af-
of
,-5ca7 investment stocks. which had been
.,rshed 10 an extraordinary level. to
AK violently on small sales, contin-
,,sd in evidence in the case of the Ameri-
cor Express. United States Express,
1atlawanna. Delaware and Hudson,
General Electric, and similar stocks
SHARP RALLY.
When the liquidation first showed signs
- decreasing the bears caused sharp
-slIv pv covering Of shorts, after which
tho market lay sluggish and neglected for
an hour The speculative sentiment then
Welded 10 the influence Of the hopeful
aelirE that the industrious consultations
and activities of the financial and operat-
me- rowers of the great anthracite COM
NAMES would lead 10 substantial results
In The settlement of the coal strike. An
authoritative admission of a change in
the condition of the deadlock was i'm
possible 10 observe. and the unvarying
assertion on the part of the operators
dealt only with the possibility of lmproV-
ing the output of the mines, under pro-
lection Of the military, by seceders from
the strikers But the action of the mar
ke reflected the faith that developments
were forthcoming, looking to settle
ment
Reports received over Sunday Of the re-
caiut Of several small parcels OF gold
rom Europe and of an expected arrival
within two weeks at San Francisco OF
81 zl 600. additional Australian COLO, We're
,,77erlasg To offset the depressing lnf1u-
erccs of the bank statement. money
went to IS per cent. soon after the open
ing Sterling exchange broke sharply,
tut discounts in London responded with
an advance The market closed with the
ralIy in full force and prices at the TOP
BoNDs FOLLOW STOCKS.
Ponds weakened, and recovered, in SYM
pstty with stocks. Total sales, par Eaiue,
A6EUa United States new and old As
isoIfr,ed u per cent. each on the last call
The total sales of stocks to-day were
I.022, 100 chares.
MONEY AND EXCHANGE.
close: Money on call strong at 6dls
per cent. closing bid 6 per cent; prime
mercantile paper, 6 per cent.
Sterling exchange easy, with actual
business in bankers bills at S4S5 .625 for
demand, and at s4S2.50as4s Sc. 625 for sixty
flaws. nostad rates. ss.S315G$4. S6l5; COM
msrca bills Si.S2G1s4.S2l2
Bar silver. sos; Mexican dollars, 4o14
Government bonds weak; State bonos
easy. railroad bonds irregular.