Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-11-20
STOCKS END STRONG
x;nApuAL IMPROVEMENT IN
PRICES AT THE OPENING.
FRACTIONS ARE THE. FEATURE.
es.reet- Believe. Some Sort of Deal
:. on In enthusiastically It
rnc,udo~ Al, tho New York street
FRACTIONS ARE THE FEATURE.
rs,reet. Believe. some Sort of Deal
Railways.

,o-5ey.s market centcred almost entirely
sn the local fractions. which we'e yer!
strong ard active. Operations in that
Group aggregated about one-quarter OF
Tho DAYS business. Manhattan az on
the previous days Of the week. was 'he
real feature, making q maximum advance
of over points. and a net gain OF IN.
Metropolitan and Brooklyn Transit. which.
ware taken up later in the day, scored
ne. gains of 3 rs and IA points. re-
spect;rcly. The street IS convinced
that some sort Of deal is on In Manhattan.
and there arc those who believe that the
deal includes practically all the street
railways Of Greater New York. Man
haitian. according to rumors current dur
ing the day, may go to Metropolitan IN
this. or be taken over by the syndicate
which controls the subway system now in
course of construction.
Rumors regarding Brooklyn Transit had
10 do with Pennsylvania railway inter-
ests. The Pennsylvania road. as is sener-
ally known. controls the Long Island rail-
way. and has other interests in Kings
and Queens counties Nevertheless, the
rumor coupling Pennsylvania with Brook
.vn Transit was generally secuted. Open
Eng prices reflected further pressure in all
the active stocks. except Manhattan. Col
orado Fuel declined points, and there
were average losses OF point or more
n Baltimore and Ohio. ST. Paul, Union
Pacific and Amaigamated Copper. while
Reading. United States Steel and Sugar
hot "a MI Y1Sn
continued to advance on buying orders at
.ributed to Could brokers, and in the
first thirty minutes advanced TO $50, from
which it fell points. but as is shown
more than recovered this loss.
PRICES GRADUALLY. IMPROVE.
Prices gradually improved in many OF
the standard issues. The traders who had
been out of the market for some days took
the long side of the market, and the short
Interest covered extensively. especially in
Manhattan and Sugar. Trading in Man
1attan during the early session was SO
wide that the stock gained a point between
quotations. 1t was reported that very
prominent operator was engineering the
movement, Recoveries at this time else
where in the list were feverish and err
ratio. as was shown in the course of such
stocks as Metropolitan, Louisville and
Nashville, St Paul. Rock Island. Missouri
Pacific. and Canadian Pacific. Sugar con-
tin1ed steady on reports Of better trade
conditions. Colorado Fuel fluctuations
were wild, making at one time an abrupt
rise Of points, though closing points
below yesterdays price. General Electric
went off points on small sales, and the
market at this particular period seemed
TO be meeting more stock than 1t could
absorb. The early hours brought the real
upward turn in the fractions. and in the
general rally an improved tone was shown
by St Paul, Reading, Norfolk and West
ern. Southern Pacific, Union Pacific Bal
timore and Ohio. Wabash preferred. Al
Gibson, and some others in the same class.
The closing was strong and active.
NOTHING ABOUT GOLD EXPORTS.
For the first time In some days nothing
was said respecting gold exports. The
scarcity of money has forced borrowers
10 appeal to foreign bankers for accom-
modations and! more loan bills were offer
ed to-day.
Railway bon,is were heavy in the early
dealings, but improved later, with the
sise in stocks. Total sales. par value, So
100000. United States bonds were all I'M
changed on the last call.
The total sales of stocks to-day were
q0l, 600 shares.
MONEY AND EXCHANGE.
Close: Money on call. easier at 295 per
cent: closing bid offered at 2; prime mer-
camille paper. S 1895 per cent.
Sterling exchange steady. with actual
business in bankers bills at 4.S6.Sl5 for
demand. and at 4S35oGD4.s3.625 for sixty
Saws; posted rates. Asa 1-2@4SS: CONNER
rial bills. 4.SsG4S3s75.
Ear silver. 49 is; Mexican dollars So
Government bonds. steady: State bonds
Inactive: Railroad bonds. irregular.