The times. [volume] (Richmond, Va.) 1890-1903, 1891-07-28
FINANCE AND COMMERCE..
AFFILIATIONS or TIE NEW YORK
STOCK HARHET.

snustiou OF Tobacco at Niciuaond and other
,,,cortnnt Centres Quotations OF the Kew
york and Liverpool Cotton msrkets-Pro.
,isious and Grain.
NV YoRK. July Money closed at
r,r cent. the highest rate: lowest. - per
,.ai Exchange closed quiet posted rates. 4Si13
ar sixty days. and 4s7,s for demand, actual
,s,es isl04slH for sixty days, and 1860
Isfl for demand Government bonds closed
oo,et Gs. Ils. as coupons. is7a; as, 1907
b,A Pacific bonds closed as follows. Firsts.
lt-.< funds, iOssl; centrals ioS3s.
There was "a break in the whole stock mar
vi ms morning under an attack by tho
- Large blocks Of specialties have been
laid Tor some tine 10y brokers ia expectation
- an advance ia prices. but, notwithstanding
49,. lnlIish crop news the market has ohst.-
~efeiv re.used e. advance. IL has become
,raoticaliy impossible % borrow time money
an tle collateral IA hand. In several IN
stances wellkn0wn houses have been refused
RECOMMENDATIONS on tho backing of the
49, s which they were carrying on long ac-
c.pnt and have had 90 Use the reserve securi-
t..s Of Their cash boxes As CONSERVATIVE
s.. ke-s Object from experience 10
c.rryine heavy lines OF stock on
c~r money. and as most OF the
s,ocks in question pay low dividends or none
~ Iii thus eatai.inS steady loss on customers,
tisre vss good reason % believe that plenty
= st.p 0sders We're II The market and could
berrr0yored 10y vigorous bear rad. Hence
flsro.nings attack. Reports were circula-
tef that some Of the holders Of Richmond
al Nest Point Wor0 in stIatenod circum-
81 noes. and that the TOAD itsel was losing
~ ner That stock was singled Olt for tho
4 ffta ttr - fro 81 Vn
a.rply. St Paul, Burlington and North
American alsO came in for a good share
FL. attention from the rear traders and do
rled sharply in the first hour prices fell
as - to 4 per cent. the latter ln West
Point. During the hour from II until u
O'Clock the selling died ont somewhat and a
fractional rally resulted IN most cases. CHI
csr0 Gas was 8 feature Of the afternoon
tallng IL was subjected % "a vigorous raid.
declining fully two points. TO f0rty-siE and
fve-eighths. The remainder Of the list con-
t1lod weak 20 the close Trading was Gully
Moderate in activity. Rock Island was about
O.. only stock that displayed any strength.
l.s strength was attributed T. n decision Ia
ns famous Omaha Bridge case which was
rerlered TODAY The case involved
re right OF the Rock Island and other
l4lrOads 10 use the Union Pacific bridge
.ver the Missouri The decision WAS ia favor
oi the Rock Island. Lead trusts were weak
"a the announcement that the company
would be reorgnnized under the laws Of the
state Of New Jersey. and that 1t was proposed
O. ISSUE -. 900, 00O bonds. In connection with
Tao Richmond and West Point it was cur
rently reported on the floor Of the Exchange
ihat is securities are being sold Tor the &C
count OF one IF the directors, who was among
Tie party which forced Alfrod Sully from the
control some years ago. lie IS SAID 20
have met with severe losses, some Of which
l.te back several years London bought
moderate amount Of Louisville, ST. Paul and
Union Pacific III the first hour. Burlington
WIS raided considerably at times to-day. No
reason Of the selling of Chicago Gas could DO
escertaiusd One of the room traders who
was prominent in causing tho decline SAID
nat he sold it simply because he thought the
parties identified with its control were trying
n unload. Tho market closed at near the
vest figures. The decline ranged from Is
d ner cent InfAl snlns. 2O2 lU3