Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-08-10
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT BUsI-
NESS CENTRES OF THE WORLD.
Prices of Money, Bonds, Stocks
Grain, Tobacco, Cotton, Cattle,
Country Produce, &cp Foreign
and DCmoetic.

NEW YORK, August 9.-Qulte vio-
,ont movement set in at the Stock Ex-
change during the last hour and a half
OF trading to-day and prices came tum-
bling from their high places, the declines
from the high point being, in many cases,
very wide. What the professional traders
have been predicting for some time came
10 pass-namely, a sufficient decline In
many stocks to uncover stop-loss orders
by weak holders OF stocks. The deal
ers have been aware Of the 'pyramiding
Of orders on a large scale-that is to
saw. the reinvestment of earnings as
fast as made by weak holders. what
was threatened has occurred to-day. III
looked for time as though the mar
ket was going to pieces under the weight
Of heavy offerings to realize, but after
q review Of the situation the losses
were confined to a comparatively Few
stocks-the stocks that had enjoyed SEN
sational advances in the morning, nota-
blv. the Changers. that suffered most
severely in the afternoon
The selling to realize started in the
Changers. and as the market is more
sensitive TO the influence Of this group
tbon any other the selling movement
coon broadened by sympathy, until II
included pretty much the whole list. III
,,,os noticeable that the Changers steadied
ana rallied. even while other prices were
stil falling. Burlington recovering over
p point from the lowest. and there were
ovceptions all along the list, some promi-
mont stocks holding firm in the midst OF
The heaviest selling Of other stocks
The buying Of the morning was OF
enormous proportions. exceeding III VOL
ume that of a whole day or ORDINARY
trodipo There was a large falling off
in the early period Of the decline which
,,,oe n hopeful indication that prices
lid resist the pressure and resume the
ADVANCE. But nt-heartedness TOOK IN
orooslng hold on the minds of holders.
ord the selling movement developed into
soroething like a throwing overheard or
so(,,ritles. The sales Of the day exceeded
~ COO shares.
Nh. erratic movement Of Manhattan
uoe an unsettling factor I'm the market.
The short interest in the stock continued
T., ,oanifest distress. and covered heavily
-. rtslno nrices. The short interest in
,hts or9 other stocks is believed to have
been largely eliminated during the carry
Zinc thus withdrawing an important
s,,et@ining factor. and the stock fell ac-
oor5,nglv 10 its normal level. The same
cord,tion Of affairs was present In the
80 ~ other stocks. and the first de-
cline uncovered stop-orders WHICH, Vi
oonrse accelerated the declines.
,rhere was no news Of the general situ-
alton to account for the decline. al OF
,no factors continuing favorable LONDON
buying as well as selling stocks; the
Drico % sterling exchange registering
Sin further decline, and crop news an
favorable. The carry "as .,n,s
carried many stocks up over poli'.s
oo,ahIv burlington. Rock Island. chicago
CO. western. Tobacco. Colorado fue,
I'ackawanna. and New Jersey Cen.ra,
A large number OF other active shnIes
sho,yed gains OF over a point but 'ne
si,non developed wiped out all but some
s,act,on OF the advance in nearly an
cases. and carried some below last his"'
close. 4. s.y u,srs