Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-08-28
NEW WORK. STOCK MARKET

NEW YORK, August N.-Railway
stocks showed greater strength to-day
than at any other time since the current
upward movement was inaugurated. For
eign operators were prominent in St. Paul.
Louisville and Nashville. and other inter-
national favortes. In fact, their pur-
chases OF Louisville and Nashville put that
stock up to &c and over to-day. The
strength of the general market. in the
first place, is due to a short interest
which is endeavoring to cover. and in the
second place to Improvement in railroad
earnings. To-day ten roads reported their
receipts for the third week of August, and
eight out of ten showed gains. ranging
from $2,026 in the case of Flint and Pere
Marquette to si6,2i5 in Louisville and
Nashville. The July statement of the St.
Paul, TO hand. shows "A loss in net earn
ings OF $35Sl64 but as the American Rail
way Union strike occurred in the month
named the loss was not considered serb
Gus.
Probably the best feature OF the market
from the bull point of view was the indif-
ference displayed to the sensational move
ment in Distillers' and American Sugar,
the market having refused to be influenced
by the wild fluctuations in these issues.
Distillers' at the start sold 2lqg2A lot
400 shares. against ZoA at the close on
Saturday. The bulge was due 70 Iuinoi
that the company had obtained tie sovVV'
go necessary 10 take it, product out Oh
bond and thus get the advantaB. Oh ths
increased tax levied on spirits. me IT'S
led 10 liqudatonS. and a reaction 10 ~
ensued. An advance in spirits py Sn'
American Distributing Company 10 ;l.ao-2
L..
the certificates. which rose TO 201s.
After midday n rumOr gained currency
that the local syndicate. when was -
| advance the money 10 the trust, nau VIII
sentatives who were carrying on the nego
| tiations To endorse the paper required u
| their individual capacity, and on thls
| the stock tumbled TO 1874. subsequently
Russell Sage partly confirmed TINS ahc
the opinion generally obtsingo mat co on'
| cerned. has fallen through: rms Is cor
| roborated by the fact that the sun,
| Treasury did not receive any lmpo! Tan
| sums OF money from the trusts agents w
| to the close Furthermoe. u. ~ IA ~,
| during the day were the government ON
| cials advised that they might rspScl
| heavy payments from that source. me
| stock rallied to 1875 at the close. when !.
| "A decline OF y pei cent. for tho day. Inc
4 sales of the stock were lia ~ si'''sS ~,
1
| broke 10 Il07s, rallied to ll3, ana cfosrd az
| ll2is. against 1881. on saturday. me carry
| break was the result OF liquidations loi
| an interest. which has been partly respon
| sible for the last ten points rise. IN
comnany has raised the price OF rehnet
&c. per pound. Raws have also adv1n9 rec
as much. American Tobacco ranged De De
tween iO3 and lO7 and left of at wi
L.acledo Gas. preferred. jumped ga &c
| IA :. 80 II,
SPECULATION closed strong and u 10 rs
per cent. higher for the railway ISSUES ~,
| The total sales were NiOoO shares. Liz
bond market was strong.
MONEY AND EXCHANGE.
Money on call easy at per cent; ias'
loan at /. and closing offered at j. prime
mercantile paper 4piis per cent, ga,
Rar silver, 50; silver at the board 'o4
bid ...,,,,. ,,,,,h aetna
business in bankers bills at sLS'gnl ~, Z
| for sixty days and si.s6i.nL s61s tor ae'
mand: posted rates, Si.&H4s'1s' CONNER
cial bills. AAAQiSE.. r hand,
| Government bonds firm. STATE po"d'
| steady. Railroad bonds strong.