Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-06-13
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, June l2.-Sugar asserted
its leadership of the market quite en-
phatlcally to-day, and the tone OF the
market was almost wholly dependent
upon developments in It. The obvious
fact that there was selling TO
take profits on Sugar was the
potent influence in causing realiz-
ing sales in other stocks. There
was vigorous manipulation in Sugar to
hold It at the high level. and even to
raise that level. on the strength Of bene-
fits to accure TO the company from the
sugar schedule adopted by the Senate
But those who have benefited by the
weeks rise in sugar argue that the pre-
sent price represents the value Of the
stock. and that the next influence 10 be
taken account OF is the Conference Com
mittee of the two houses. AS the action
Of this committee viii. in all likelihood
DO less favorable. rather than favorable
TO the refined sugar industry than is the
Senate schedule traders were inclined TO
discount a future fan in the price There
was some sort Of selling in accordance
sales. which combined to carry the price
down nearly two points from the highest.
The dealings I'm the stock represented
fully one nth Of the total transactions.
The fan In Sugar carried down prices
throughout the list, and practically Oh
liberated early gains, except in Few
instances. The Coal stocks were quite
notably strong in the early dealings. II
is a noteworthy fact that these stocks
make up the only group in which there
is any short interest loft, after the con-
tinued advance in prices. This fact had
no small part in to-day's strength in
the stocks, but did not save them from
feeling the effects Of late selling move
ment but not to a sufficient extent 10
wipe out the early gain.
The week just closed is the third show
ing continued aggressive strength In the
stock market. The market has been sus-
tanned all week by the aggressive
strength OF Sugar, growing out Of the
agreement OF the caucus OF Senate ke-
publicans upon sugar schedule whlch
is viewed with approval by the friends
OF the Sugar Company. This being the
case. il was natural that the whole
market should give way to degree
under the break in Sugar to-day, on re-
alizing sales. But the week. neverthe-
less. represents, as a whole, another step
forward in the progress towards
higher range OF values, which has been
going on ever since the Senate TOOK UP
the tariff bill. and demonstrated that
IL could dispose of it with reasonable
promptitude. This, with the decision OF
the Supreme Court against the riSht OF
the Interstate Commerce Commission TO
fix railroad rates, gave distinct I'M
petus 10 the market, which has endured
ever since.
A most striking feature Of the weeks
market has been the comparative mac
tivitv. but firmness, of the Granger
stocks. which strongly led the early i'm
movement. They have halted during the
past week. while other groups IN the
market were taken in hand and brought
mn TO their level Professional traders
have wrought this result largely by the
selling of Changers 20 take pronts' anu
putting the proceeds into other STOCKS
nreparatory TO a bull movement IN them.
The net changes in the Changers nave
been trivial part showing gains and part
losses. The declaration Of the w ual
quarterly dividend on Western Union oil
ia per cent solved a long-standlng
doubt in Wall street, and this, together
with the favorable quarterly statement
of the company. and the increased earn
inps of Manhattan, served to take these
favorites of the bears out Of their hahds'
and then drive them TO cover.
Quite q feature in the market all the
week has been the aggressive strength
shown by the low-priced shares. eape-
cially those Of reorganlzed companies
the preferred stocks leading.
The total sales of stocks to-day were
11O7n shares, including the following:
Sugar. 1890: Burlington and Quincy
500: Northern Pacific, preferred, 6WJi
western Union Telegraph, 80; New
Jersey Central GOO.
The bond market displayed very
strong tone during the week, Win 'he
dealings in considerable volume. me
market was governed to a considerable
extent by the developments operating 10
enhance share values Purchases by
leading interests impaired decided impetus
10 the general tendency, with the inquiry
for the lines of reorganizcd properties
verv brisk. Transactions for Continental
account were in large volume, and IN
Guided purchases Of the more important
international interest mortgages. some
of the middle grades were quickly ap-
eorbed. and a disposition was observed
10 carry low grades higher. The usually
inactive securities were conspicuous IN the
sneculation, and sustained matelial IN
movements generally The gllt-efe
bonds commanded fair attention, but Inc
variations were rather narrow.
MONEY AND EXCHANGE.
Money on call easy at 1ql II per cent;
,r,roo mercantile paper, Sal per cent.
sterling exchange dull, but steady.
win actual business in bankers bills
NJ S4S7 for demand and A.S5 S-4pStSj for
sixtv days; posted rates, $is5 l-2aStsl'
and slSS2 iSS II; commercial bills H@.
Rar silver, 597-S. Mexican dollars
AIS 49, g.,
state bonds dull. Railroad bonds hrm'
NEW YORK STOCK QUOTATIONS..
Closing stocks.
htcb,s.a. Topeka AMI san.l 10 zoe '''''-' =, = 3