The times. [volume] (Richmond, Va.) 1890-1903, 1891-06-05
FINANCE AND COMMERCE.
OPERATIONS or THE NEW YORK
STOCK MAR1ET.

s,,uation Of Tobacco at Richmond and other
important Centres Quotations of the New
YORK and Liverpool Cotton Markcts-Pro-
visions and Grain.
NEW YORK, june Mooney closed at 8 per
cent? lowest, Oh; highest, 80 per cent. Ex-
change closed steady; posted rates, ss5's for
sky DAYS and 4Ss4@4ss,s for demand. Gov
emments closed steady currency es' III bid;
-, COUPON 40 bid; as do. 40 bid.
There was great weakness displayed by Rock
Island this morning IL was just before the
close ~ tho market last night that the report or
flo directors meeting in Chicago reducing the
Irsricrly dividend 10 y Of / per cent. was re-
cc..,cd This reduction was = slodge-hammer
1w 90 the prices Of tho stock this morning
thc more tie street discussed the matter the
more dissatisfied 10 became. and-at the opening
tls morning there was a rush TO sen the stock
Hfe STOCK closed az 76aS last night,
lra the first sale was 7ih, and from
dis point 10 went %, down rapidly to
no IMPORTANT a stock caused considerable
,-usiornation among the brokers. ana II was
,.,., natural that the rest OF the stocks shorld
,1fcr from the heavy decline TO some extent.
fh. bears embraced the opportunity 90 hammer
some of the other stocks. especially burlington.
'g0ai stock fell of ~ per cent. Missouri IA
.tr came next with a decline OF per cent.
ln.on Pacific and Northern Pacific pre-
frrel we're also notably weak The only
.t,.k, displaying any strength were 1T.
rarl. Louisville and Nashville and
Nm England. The influence of the
bes,v decline in Rock Island was offset 10
c,nsl lcranlc cXteut 10y the reduction OF the
1snl of England rate the favorable showing
r..le ir Lle weekly statement of the bank, and
en-. fsrf that there were no further engagements
~ eslI reported mp to noon. The weekly state
r.ant 0f the Bank OF England showed an in
q. e0f .a6fO0O pounds in bullion and 1.5Q1OO
rorndslu the reserves. The proportion of re-
sarra Cd liability IS now ABS against 1000 last
weeb The market continued weak until after
ta O'Clock. when 10 began 10 improve. Re
,.,rfs from Chicago stated that the annual
r.rrrt NJ Rock Island for the year ending March
t.. ...fmaIe public there showed that the sur
p.u.earniugs OF the Rock Island proper had been
f.Ir yer cent. but that the Chicago, Kansas
AMI sci raska extension had failed TO pay to ihe
Iocb Island S2920o0 Of lis interest. hence the
f.tr.tm Rock Islands income account. The
fge prospects Of tho crops make il possible that
lr +he next year the Chicago. Kansas and Ne
ir.sha VIII nay MP the deficit, and on this aspect
b.. Oh. case Rock Island stock recovered from
r.. 30 -la-. The other grangcrs also recovered
fncronally The directors of the Chicago and
Northwestern declared the regular divi-
f.rls of 12t on the preferred for
th. quarter and 3 per cent. on the common for
fle half year. This aided in restoring better
ceiling IN the afternoon dealings. Sugar Re-
tuers common was also very active and al
yarred 23t per cent in the afternoon on the re-
iieud OF az least 80 per cent. on the common
stock. This was denied from Boston but never
ftalCss the price was up points 10 ~ before
l.l Five hundred thousand dollars of gold
Was engaged for shipment this afternoon, max
ing the total for the week $i.S60,Oo0 The clos
iug prices were irregularlv changed. but IN
~ g. cases x TO 10 per cent higher than yestcr-
+cl al AIa