Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-07-28
NEW YORK STOCK MARKET
The Weakness In Richmond anu
Point securities-stock Thrown O'er'
rPv telerraph To the Dispatch.l

The Weakness In Richmond ana "eS'
Point securities-stock Thrown over
[By telegraph to the Dispatch.l
New YORK, July 27.-The stock Market
opens the new week this morning with AZ
active business, for parallel to when We
must 90 back at least two months, but 'ne
animation was caused entirely by hea'y
pressure to sell, primarily by the oears'
but undoubtedly considerable long STOCK
was thrown over. especially in Richmond
and West Point and Northern Pecihc pro-
ferred. In which several stop orders were
reached. and for which presumably lno
bears were cunning. st. Paul ana Dur
lington, however, were equally as ACTIVE
and in Burlington the bears were specially
active, without meeting with the same
success as IN the other stocks mentioneu'
THE SHORT INTEREST
is now reckoned as high as 100000 shares,
and efforts TO cover on the Top Oh Cuo
drive this morning were very notlceau'e.
But these efforts from all appearance
were not specially successful, and the mar
ket dropped back suddenly into the oiu
dulness. while prices recovered sharply on
very light transactions. The receipts OF
wheat at the five principal points Tor tno
first eight days Of July go far to make ,ho
outstanding short interest uneasy: anu %
long as the bulls lack strength TO lnauEu-
rate and carry through vigorous cain,
paign the efforts to get prices down 70
level where the outstanding contracts may
be covered at a profit will be continuous
TIE WEAKNESS OF RICHMOND TERMINAL
These drives. however. are greatly help,
ed by the weakness in the Richmond ail,l
West Point securities. The common stocA
of the Richmond and West Point. CON-
many and the Lead Trust. which will now
reorranize. were the only really weak spots
in to-day's market. while tho only really
strong point was sugar, which scored an
extreme gain of II per cent. Inc oearlsn
feeling grew stronger toward the ciose;
however, when more realizing was done anu
the downward movement, which had maze
but slight progress after the first half hour,
was resumed and further material
losses were sustained over the entire hst;;
Lackawanna. becoming feature. dropped
suddenly over per cent, whiie the Weuk
stocks OF the forenoon reached the lowest
prices Of the day. The decision IN the
Omaha bridge cases against the Union 10
cifc and IN favor of Rock Island had IT.
tie or no effect upon either the Union or
the Missouri Pacific. and the other Gould
shares were well held throughout the day.
Chicago gas was also pressed Tor SAFE IN
the afternoon and scored one of the
heaviest declines Of the day. Several
specialties made marked declines, among
which the cotton-oil shares were proihi-
nent.
THE ACTIVE But WEAK.
The market finally closed fairly active
but heavy to weak at the lowest points OF
the day. The final changes are all losses
with the single exception of sugar, and
Chicago gas IS off 19s, lead ~. Iennez ,%
coal q Richmond and West Point ls.
Northern Pacific preferred II, and others
material amounts. Sales of listed stocks,
ls7. 900 shares; of unlisted, 1900 shares.
MONEY AND EXCHANGE.
Ecening Exchange dull but steady at
4s5a4s7J5. Commercial bills, 1882 ais6.
Money easy at sa2. closing offered at 2.
Sub Treasury balances Coin, 1911 ,2si,O (;
currency. So. 5O3.OOO. Governments dull
and steady; per cents, ll714, 41as' lOO1s
bid. State bonds entirely neglected.
STOCK QUOTATIONS..