Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-08-06

A. Saks & Company.
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT BUsI-
NESS CENTRES OF THE WORLD.
Prices of Money, Bonds, Stocks,
Grain, Tobacco, Cotton, Cattle,
Country Produce, &C., Foreign
and Domestic.

and Domestic.
NEW YORK, August 5.-To-day's mar
ket was an inversion Of yesterdays, IN
that it displayed a heavy tone during
most Of the day. and rallied strongly
during the last half hour. The days net
gains were almost all achieved in the
last half hour, while in yesterdays mar
ket a half-hour's proft-taking at the close
wiped out nearly all the earlier gains.
There was a feverish tone to the trading
to-day and erratic variations either OF
which, coming after yesterdays freedom
Of speculative buying. pointed to sig
nincant elimination Of bull movement
There were evidences of powerful ma
nipulation in the market to further the
unsettling tendency. But the heavy
short sellers of the day apparently lost
confidence in their theory of a reaction
and started to buy back their stocks on a
fast rising market This short covering
was the main cause Of the strong rally
at the close.
But there were special causes also al
work to defeat the efforts OF the reac-
tionists. There was nothing unfavorable
I'm the general situation which they could
avail themselves Of, the crop prospects
and the decline in foreign exchange con
tinuing TO favor a rise. In addition 20 TINS
some Of the reports Of railroad earnings
for the fourth week and month OF July
especlaTy those Of southern roads, were
strong influences for an advance. Thus
Iouisyille's increase in earnings for the
fourth week over corresponding period oil
last year was SlO3.1i0 The stock respond
ed TO the statement, rising over point,
and influencing the whole market.
Other increases for the fourth week
were Chesapeake and Ohio. $G9,6i9; Mis-
souri Pacific. $4,000. and Kansas and
Texas. SO. 5S2. the latter figure being also
compared with the largest previous July
week in the companys history.
The buoyancy displayed by some of the
individual stocks, such as Tobacco, Ia
clede Gas, and Spirits, also operated
against the efforts at reaction. On the
other hand, the reaction in the Whea'
market, due TO proht-taking and some
falling off on buying orders, affected the
western railroad stocks sympathetically'
The heaviness I'm some of the most ac'
five INDUSTRIAL SlOlko iihAf AiiN f'+''N'N
points Of attack by short selling. sugar
was attacked with special vigor and re-
coded 27-S from the high point. CON
solidated Gas suffered from fear Of OBJ
struction TO the scheme Of amalgamatlon
Of gas companies. and slumped seven
points. The average decline in the mar
l,et. worked by the bears. was nearly
ner cent. and in Chicago Gas and
Northern Pacific preferred was more, the
latter being especially affected by con-
tinued London selling. London sold du-
ring the day about 5000 shares OF all
stocks. The early declines were almost
all recovered and net gains achleVed
though they were for the most part small
The Vanderbrts responded to the rally III
a conspicuous degree.
The total sales of stocks for the day
were SCI. 500 shares. including Atchison
preferred. 1929; Chesapeake and ONO
90. Chicago. Burlington and Quincy, H.
$50; Erie. new, $780, Louisville and Nash'
vile. 1850: New York Central, To- Eo
Northern Pacific, $50; do. preferred IL
12O; Rock Island. 1765; St PAU, 5ooS
ST. Paul. preferred, 800; Southern, Loz'
do. preferred. 5000; American Spirits, -
go: American Tobacco. 1920; Bay state
Gas. 1885, Chicago Gas, 2I4so; Generai
Electric. SOD. lAtlttlt VAS Aif"''s -%--'
g e5o. pacific Mail. $3.50; Sugar, $3.50
Western Union, $3.50; Chicago Great West
ern. 20O6O. .,--
Liberal realizations impaired heavlness
TO the dealings in the speculative mort
cages. with the losses, however restrict
ed 10 moderate fractions. The middle
grade Hens were not only firm. but haa
some material advances registered. The
aggregate sales were 2.N00o. Govern
,oents were fairly active and generally
arm.
MONEY AND EXCHANGE.
Money on call easy at lQl IL per cent.
last loan at /, and closing offered az l.
nrime mercantile paper. l-2Qi per cent.
Sterling exchange very weak, with ac-
tual business in bankers bills at $ie5 5-S
Gr4s2-4 for demand and $i.S5 l-idSiS5 II
for sixty days; posted rates. SLSo la
SS7 and slS7 1-2G$i.SS; commercial bills
81 IL.
silver certificates 56a57; bar silver,
Il "a: Mexican dollars. AZ ii.
Government bonds firm; state bonds