Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-08-05

New YORK, August s.-ihe stock mar
ket opened weak this morning. but stiffen-
ed up later, prices being well held through
out the dav. with small and irregular
fluctuations in all but few stocks. which
We're subject 10 more than the usual ma
nipulation.
LOWER OPENING.
The market has sunk into purely pro-
f0ssiOnal state aud the lower opening was
due to a piece Of manipulation. which
however. failed of its ultimate object.
Last evening there was considerable buy
ing. which advanced prices at the close.
This stock was sold in London before the
opening hero with the express design OF
lowering quotations there and making q
weak opening here. The design YVES so far
successful, but long stock failed 10 come
out at the concessions made. even when
sill lower prices were established by fur
Their raidiug. Union Pacific. Louisville and
Nashville. and Northern Pacific pre-
ferred yielded easily. especially the first
named, but this weakness was fairly offset
oy the stubborn frmness in Burlington:
st. Paul. and Atchison, and the decided
strength in New England. even though
the last were in all probability due
TO manipulatiOn also. The opera
tons mentioned gave the room n
bearish temper and free selling OF
the weak stocks was made 10 appear
for London account. which aided IN pro-
ducing that effect. but the favorable ma
ture of the general situation is now re-
ceiving more attention. and long stocks
having gone into stronger hands of late
do not come ont with any freedom.
MATERIAL LOSSES.
Under tho attacks OF the bearish element
t.aafA sa1 4 -.
Pacific. Louisville, Rock Island, Sugar,
and Northern Pacific preferred; but the
concessions in the remainder OF the list
were confined 20 small fractions as q rule.
As usual of late. these stocks, with the adj
dltion of New England. monopoliZed the
business of the day, the transactions in
the Others being without significance in
any way. The opening decline was follow
ed by moderate reaction. but the bears
made all the capital possible out
Of the failure of Backer, and with
the aid of some rumOrs IN regard
to Union Pacific. among which those
that the June statement would be q poor
one and that there was difficulty IN hand.
ling the floating debt, though neither
could be verified in any way broke the
stock nearly per cent. Louisville was
sold freely, apparently for foreign account.
and with Rock Island, Northern Pacific
preferred. Sugar and st. Paul scored ma
tcrial losses before the close of business.
The general list remained dull and heavy
IN sympathy with the leaders
THE CLOSE QUIET AND HEAVY TO WEAK.
Nochange in the temper of the speculation
occurred, and the close was quiet but heavy
to weak after Il slight reaction in the last
hour. he final changes. with the excep-
ton of New England and one or two special
tics, show marked losses, aud Union Pacific
declined %, Sugar 2is, Louisville and
Nashville. Missouri Pacific, and Northern
Pacific preferred each Ia. and st. Paul /
per cent, the rest Of the list losing gene
rally large fractions. Sales OF listed stocks,
f34 900 shares: of unlisted, $4,000.
MONEY AND EXCHANGE.
Eyeninq.- Exchange quiet and steady ut
fSi aioGiI. Commercial bills. is5 sai8jei.
Money easy at {a2. closing offered at p.
Suh-Treasurv balances Com. sol $3.50, 600 !:
currency. s'25, g3s. 900. Governments dull
end steady: per cents. 1861 AS, 1904
bid. State bonds entirely neglected.