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

NEW York. August THE stock market
since the depression in business at the
Stock Exchange began. and it was also de-
cidedly strong, everything on the list
reaching materially higher figures. The
indications point to q complete change IN
the temper Of speculation, though the
strength to-day was certainly due in great
measure to the running in of the shorts.
and late prominent sellers of the market
were buyers openly in the market. The
efforts to get Union Pacific down further
were not abated. however. and there was
a repetition of all the stories in regard to
the floating debt, the financial con-
dition of the company. and the re-
ownership. but the stock. except during
the first half hour moved mp with the
rest of the list. and the inference is that
the depression and the stories referred to
were all for the purpose of buying the
stock cheaply.
TIE NEWS OF THE DAY BULLIsH.
The news of the day, especially in regard
to the crops, was all that could be desired
from bull point ofyiew, and new buying
was encouraged. especially az London was
no longer q seller. At the same time con
siderable selling was INDUCED in by the
late buyers. the profits accrued on the
rise so far proving too tempting In the
present state of the speculative temper
to be resisted. The upward movement
from the covering of the short interest was
aided also by the manipulation OF certain
specialties, among which Sugar and New
Ingla nd NJ v,rprpiyapt u bIle Lac HAWAII
! ma also Joined the list of stocks to make
sharp upward movement.
THE MARKET WIDE.
st. Paul and Union Pacific were the only
specially active stocks, but the business
done in the rest OF the list was materially
larger than that usual of late, and the mar
ket was certainly wider. indicating more
general interest in the course of the prices.
There were no specially weak points even
among the low-priced shares, and the late
movement in Chicago Gas was an excep-
| ton to the rule.
The advances, which reached their
| height about p. NJ. reached 3per cent. in
sugar which Is supposed 10 be enjoying II
| squeeze OF the late sellers by the insiders.
Later realizations, with some help from
| the bears. knocked most of the gains on.
| the market closely settling away, and Chi
| cago gas in the last hour developed the
most pronounced weakness. scoring the
| olly important decline for the dag. The
| conditions, however, are very favorable to
| an upward movement. and should ANY
| outside support be given the market a
| sharp rally would certainly be in order.
THE CLOSE ACTIVE But HEAVY.
The market finally closed active but
| heavy, with most of the list at only slight
| changes from the opening figures. The
final changes are generally small fractional
| gains. but cordage is up 2 per cent, sugar
| Il. Chicago and East Illinois l. :, Reading
l. :, and Lackawanna II. While Chicago
| gas is down 1 per cent. Sales Of listed
stocks. $4,000 shares, and Of unlisted
stocks. $4,000
| Monty AND EXCHANGE.
Erenjng.- Exchange quiet and weak at
1885, ASH. Commercial bills, 4S2l aaiSj
Money easy at lEa2. closing offered at D.
| Suh-Treasurv Dalances-Coin. S92.0l7.00
currency. s26,O57 900. Governments dull
and steady: 4 per cents. III; AIS. 1000
State bonds dull but firm.