Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-08-19
NETWORK STOCK MARKET.

NEW YORK. August lo.-1ne stoch mar
ket was again active and strong. with an
unmistakable broadening tendency, and
materially higher figures were reached IN
everything on the list, and this in the face
of heavy realizations and strenuous efforts
of the bears to prevent any further adj
vance in prices. There is a large party
which already thinks that the rise has at
tanned sufficiently large proportions, and
that many stocks have been advanced too
rapidly. and therefore favor a re-
action. but the new buying in the market
is of such proportions that in spite of the
selling to realize. that Of the bears and
that of the four outside centres, including
London, the market still advances. To-
day. at least. there appeared to be large
buying orders at all concessions and the
upward movement made steady progress.
The relative importance at present OF
the Union Pacific affair was seen in the
steadily diminishing volume OF business
in that stock, although oil the Gould
shares were still sluggish and feverish.
Atchison was again the leader in point of
activity, while Louisville and Nashville
still led the upward movement. closely
followed by Rock Island. The western
operators confined themselves entirely to
western stocks. and the interest in the
movements of the Changers was more
than that in any other of the group OF
stocks on the list, and while everything
shared in the general advance, the impor-
tant movements were confined to those
stocks.
TIE OPENING IRREGULAR.
The opening was rather irregular, but
the declines were few, and while the
heavy pressure to sell. especially from the
foreign contingent, made prices irregular.
the advances were the more numerous and
the market soon gathered strength. Natu-
rally the Changers, and especially Rock
Island and Atchlson We're the most promi.
nent, but Louisville led the advance. and
Chicago Gas, under the buying for western
operators, scored a handsome gain IN the
first half hour
The news from the meeting of the di.
rectors and creditors of the Union Pacific
was reassuring, and while that stock failed
to answer until late IN the day prices IN
the general list crept up from to 2 pei
cent. with special sharp gains IN few
low-prlced shares. After the announce
ment of the arrangement agreed upon by
which the floating debt of the Union Pa
cific is to be taken care of there was @
selling movement in that stock winch
wiped out all Of its advances. Realiza-
tlons in tho general list became more
abundant and prices yielded all along the
line, the last hour being marked by {
steady though slow decline. This down.
ward movement, which was helped by the
efforts of the traders to bring about re
action. was sufficient IN many cases to en-
tirely wipe out the early gains, and many
of the active stocks actually closed lowe'
than last evening.
THE CLOSE HEAVY.
A slight rally occurred in the last few
minutes. but the market closed heavy
generally at insignificant changes from
opening prices. The final changes ar'
quite irregular, and while Buffalo, Roches
ter. and Pittsburg Is up IA and Southern
Pacific IA, Cordage is down l1s.. and tn
active stocks generally show only Sigh
changes. The sales Of listed stocks aggre
gated 324.0 900 shares of unlisted, 5000.
MONEY AND EXCHANGE.
Ereninq.- Exchange quiet and weak a
49, 5aisGl5. Money easy at 2a3, closln
offered at %. Suh-Treasury balances
Coin. S92, 439,0O0; currency. S2s, JSi0OC
Governments dull but steady; 4 per cent:
1867 AIS. 1905. State bonds entirel
neglected.