Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-12-11
MARKET WAKED UP,
,.o, SGD ,,Ron IT'S LErnAnGy ny
Urgent SELLING CONVENIENT.
VIOLENT DECLINES AT END.
LOSING Extremely Unsettled and Ac-
,ivc. Bui Above The Lowest Fig
,rc.-shipmcnt of 100000 in
cola 10 South America.

MEM YORK. December i0.7-The stock
.,arlsst MAS awakened to-day from the
,o,.,s,fou Of letharsy which has recently
-,-easisd. by an urgent selling movement.
s.,snr gained in volume as tie day pro-
--assea until violent declines were forced
/, me last halt-hapr Of the trading. TAX
NJ af mick profits by the room traders
KS the only source OF buying. and the
losing was extremely unsettled and ac-
4ye though above the lowest figures.
,o.Se+ reached 3 points or over in a few
n the leading active stocks, Including
3, r3srl, New York Central Reading.
,rs .Anlalgam9ted Copper. Losses gen
,-asiv ranged from ! to . points. The
7a-#re !islodgad large stop-loss orders.
md frduced large selling Of long stock
Wy tiee3 holders.
Tho immediate factor in causing the de-
.,sns was the shipment OF a million dol
rs, a gold to South America. and the
.-rrr+rs. evideuccs Of severe pressure in
he naoney market. The Liquidation did
,ct aaaear 10 be forced by actual large
raI-s OF loans as the call-loan rate did
oo.. win above 8 per cent, but the appre
SION chat their measure would be
rfra.ra by the banks played q large part
In no decline
BESIDES The gold out-so, to-day's sub
m s.li-s statement showed nearly 100000
z5sanoaal cash taken from the money
- -k.- Tho inroads upon bank reserves
ssa The last bank statement have al
r.giv risen TO about s4,517, 600 with promise
lra;f N n nyp
market additional difficulty was found in
securing loans Oh any terms. The per
cen. rate for ali periods was purely nomi-
:sf and tho actual rate paid was entirely
& matter Of private treaty between Dor
-e&el and lender. and depended largely
an claims of previous business associa
ton. Ihe foreign exchange market was
unaffected by the gold engagement, and
hc'5 about steady at yesterdays figure.
FAVORABLE FACTORS IGNORED.
TaroraU Die factors We're ignored in the
trrss5IE and the weakness of the particu-
'er stock affected by special new% deyel-
r-fusuts had u sentimental effect in weak
-g.5rse the whole market. Thus. the agree
meat elected in the Colorado Fuel dis
mite was greeted with a IL point droi,
n That security. the argument being thar
be- settlement removed the stock from the
nfuerca of q market contest for control.
.st5ug deposits of Hooking Valley stock
Tie purpose OF retiring the preferred
suck. and Of voting the common stock
tar consultations. mergers AMI other ar
-arlacn1ents. carried a pretty broad init
-r tom OF plans maturing for The CONSOLE
daliou OF control OF the hituminous coal
,#srr.ars ia the Middle States, but this only
served 10 induce realizing in these stocks.
The bond market continued duil, and be-
r7fne weak. in sympathy with stocks.
Total sales, par value, S2.sSo.o30. United
states old IS coupon declined Is OH the
asst cali
The total sales Of stocks were $3.50
suares
MONEY AND EXCHANGE
Money on call. taG; closing offered 4;
llz money firm sixty days. s per cent;
r7zay days, y nominaily; six months. 8
a-rually Mostly all loans made on
SIC iaI arrangements between borrowers
lenders; prime mercantile paper, .
nar cent
Sterling exchange steady. with actual
business in bankers bills at 4.SG 20GJ3.Sz-ao
.-r demand, and at 4.S3.50 for sixty days.
1s.steG rates. 4S4 IL aud SIS. Commercial
1i.ls 80 t.SS Ia
Bar SILVER. Il rs. Mexican dollars. 81 Ii.
Government bonds, easier; Railroad