Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-06-12
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT DUsI-
NESS CENTRES OF THE WORLD.
Prices of Money, Bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
and Domestic.

NEW YORK, June 1.-THE failure OF
any Of the sensational rumors current
yesterday to materialize led to a general
covering movement at the Stock Exchange
to-day, and the market was strong
from start to finish. The circulation
of the reports yesterday. which led TO
the needless sacrifice OF small holdings,
was much discussed to-day. 1t can be
stated that the matter will not be per-
mitted 10 rest there, either, and that al
ready an investigation is on foot, with
the object OF bringing the instigators of
the false reports before the Governing
Committee Of the Stock Exchange. Two
members of the board are under suspi-
cion, and every effort will be made to
probe the whole thing TO the bottom.
There were no traces OF yesterdays
weakness at the opening Of the market
this morning and prices AT once improved
1-iH3-4 per cent. This checked selling
for the long account and frightened the
shorts into covering.
But little stock was forthcoming at the
advance, and the bears were compelled
to come into the market and bid for Sc
curities Under this process, prices grad
ually lifted and at the close the
whole list showed gains OF anywhere from
l-id2 per cent. Commission houses were
I'm the receipt Of fairly large orders, the
first in weeks past, yesterdays break
having attracted outside buyers. The
main factor, however. I'm bringing about
the change for the better was the state
ment by people alleged 10 have close con-
nections with ;he Mckinley combination
that the ST. Louis convention will come
out strongly in favor OF sound money
I'm the platform to be adopted next week.
j. Pierpont Morgan also came out with an
Interview, In which he dwclt upon the
necessity for an out-and-out gold plank.
Mr.. Morgan stated that, I'm this event,
European capital would again be invested
here.
The belief that but little gold will be
shipped this week stimulated purchases.
London had a rumor that there will be
large shipments of the metal from New
York shortly. Local supporters. however.
knew nothing about IL, and said that
everything hinges on the position taken
by the political parties at st. Louis and
Chicago. The adjournment Of Congress
and the favorable government crop re-
port induced some buying for the long ac-
count The greatest gains were made by
Sugar, the Changers, Louisville and
Nashville, the Southwesterners, Tennes-
see Coal and Iron.
As a rule, the best figures We're cur
rent in the final transactions Manhat-
tan was weak on the leasing Of the
Fourth-ayenue hOrse-car line TO the Me-
tropolitan Traction Company. The lat
ter is 10 pay an annual rental of 10
per cent. for the first five years, and
per cent thereafter.
The net changes show gains OF l-iG2
per cent, outside OF Manhattan. which
lost 3-S per cent. Chicago Great West
ern common, just listed. sold at 1910
Z IS.
The total sales were 1S5.OS2 shares. in
GLIDING $500 Sugar. 2S,40O ST. Paul. and
1850 Burlington and quincy.
Bonds were higher. Sales. $4,000.
Treasury balances: Coin, sos, 2l6, 7Ol;
currency. SIS S0l, lG5.
MONEY AND EXCHANGE.
Money on call easy at 1i-2Q2 per cent;
last loan at ?. and closing offered at .
per cent. Prime mercantile paper, l-2a5
per cent.
Bar silver, cS1-2. Silver at the board
quiet
Sterling exchange firm, with actual
business in bankers bills at S4S71-2 for
sixty days. and tiSS l-lQSlSS1-2 for de-
mand. Posted rates. sLSsdSig> Com
mercial bills. AS6 1-iGsLS7
Government bonds firm. State bonds
dull. Railroad bonds, higher
..,.,.., ....,.,r.