The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-04-24
BRIEF RISE
IN PRICES
Realizing OF Profits Produced
Profoune Dizziness.
MONEY is MUCH EASIER
Time Loans Made at Five Per Gent
Sharp Advance in Northern Secur-
tiles -Marke. Closed Dull
/ and Heavy
MONEY is MUCH EASIER
fnr Associated rress.l

by Associated IreSS.J
ig NEW YORK, April 23,-- Members OF the
New York Stock Exchange were anxious
70 inaugurate the trading in their new
building with an upward movement OF
perienced nurse wish to carry n new born
baby upstairs before II shall take a down
ward trip. Apparently q very brief UP
ward movement was sufficient to, satisfy
the solcitous that the 'hoodo which
has popularity been supposed to hang
over the market since the exchange, has
been in the temporary quarters has been
shaken off,
At all events, the rise In prices proved
Loo. tempting for those long Of stocks to
resist, and they began to relieve them
profits. The most notable effect OF this
turn of affairs was the profound dullness
which 1t produced III the market. but the
Which gradually wiped out the ,consid-
cradle gains established during the first
hour and forced prices to level gener-
sfaas cause y th E dscns MAS
clearly perceptible. but 1t seemed due In
large part to distrust of the Longer
future OF the money market and ,, the back,
Is ground offered by the possibility of a
further extensive nnti-trust campaign
Immediate influences were favorable to
an advance. The money market gains III
case each day and six months loans are
x negotiated .selow five per. cert. without
Ndifficulty. New York banks are In the
market for commercial paper for the hr st
R Ii1ne IN several IuOHtHS, anu ti.tS "a
making the minimum rate Of five per cent.
B Some large loans are reported for nine
months period at five per cent, while
up to the present time lenders have
avoided extending their accommodations
tino the autumn period OF increased de-
tnand for money.
4 OF to-day's special movements that IN
Reading was based upon the ending or
the lockout. Rock Island showed evil
;lence Of absorption, attributed to outsid-
ers. sharp advance IN Northern Securl-
4 days declaration Of the quarterly divi-
lend at an unchanged rate BuEing on q
large scale Of the National Railroad Of
due TO the considerable rise in the price
asof silver and the consequent fal In Mcxl.
san exchange. Consolidated Gas jumped
On the defeat of the municipal lighting
measure in the State Assembly. The
sympathetic effect Of these advances was
lest when these stocks began to react.
The market closed dull and heavy.
There was quite demand for the newer
Issues Of bonds, especially the per
cents, selling in the SOS and 9o's. Some
lower. Total sales, par value. s2,675.ooo.
United States IS and old As declined Il
per cent, and the SIS u per cent. The new
AS advanced u per cent. on the last call.
y The total sales of stocks for the day
were 527,700 shares.
MONEY AMI ESCTANGE-cLOsE
Money on cali easier at 2aaG33 per cent;
sixty days, S Per cent; ninety days. 1905
= per cent. six months, 4lsG4A per cent;
prime mercantile paper. 545la per cent.
Sterling exchange strong with actual bus
demand and at sM.15 for sixty day bills;
posted rates, si.SilsGt4s5 and SASS: COM
S1Ib; Mexican dollars. 40A. Government
bonds IRREGULAR railroad bonds Irregular