Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-06-03
~ 1854. Tu.Th1yfr)
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.

NEW YORK, June 1T looked for
time after the opening of the stock
market to-day as though the expected
reaction from the strength Of the last
few days had come to pass, and the
average of prices was about to vibrate
downward again, within the narrow
limits which have characterized the
short turns of the market for many
weeks past under the manipulation Of
the professional traders. Prices Of
American securities came lower from
London this morning. rejecting the dis
appointment of the British investing
public that Wall Street had not respond
ed with more enthusiasm to the con-
fidence in Americans displayed by the
London rise on Monday. The New York
traders had, in fact, made up their minds
that the market had advanced as
far as had been usual recently and was
ripe for reaction, and they worked to
that end
The gold shipment for tomorrow,
small as it is helped the reactionary
tendency. The shipment, amounting to
only $6jO,OO0 was sufficient to indicate
that the price of demand sterling-S4H-
was not yet low enough 10 preclude
gold shipments, under the prevailing abb
normal demand for gold abroad. The
withdrawal of n sum of gold from the
Sub-Treasury for deposit in the Clearing
House vaults TO the account of a bank,
also served TO Offset, TO some extent,
the favorable effect of part Of the ship
ment being secured from private sources,
instead of from the Sub-Treasury.
The consequence of these things was
a reactionary tendency i'm the market.
throughout the morning hours. Liberal
sales of New Jersey Central marked
down the price of that favorite Of the
bears. But the depression in the market
was at no time marked, and the
decline in prices was limited TO
small fractions, except in one or two
special cases. The traders awoke TO a
perception that their selling in special
stocks did not invite following, and
that the expected reaction halted. The
buying by the commission houses for
outside account proved sufficient to hold
prices firm. even when the traders had
ceased to buy, especially in the Changers
and some other leading stocks. The
dealings I'm the bond market indi-
Gated equally the improved tone of the
buying. and the broadening tendency Of
the SPECULATION. The outside buyers
showed "A marked preference for the low
priced shares Of some Of the re-
organized companies, class OF securi-
ties that has been in greatly improved
demand for several days past.
There was a slight recession In the
final hour on profit-taking, but prices
stiffened at the close to the high figure
M
which set IN after noon. The notable
feature of the rise was that it was UNI
ACCOMPANIED by London buying in any
volume. and was in the face of efforts
by traders for n reaction, profit-taking
being I'm marked volume at times, but
always well absorbed.
Net gains occurred in all stocks, with
q few exceptions. The total sales OF
stocks for the day amounted TO Zl,5S
shares. including American Sugar Re
timing 7. 400; Burlington and Quincy,
n $40: Chicago Gas. $500; Chesapeake
and Ohio. 500; Louisville and Nashville,
$500: New York Central. 300; X. and
w per cents. third assessment paid,
7 400: Rock Island, 1900; St. Paul. G.loo;
Southern railway, preferred, 5000.
The bond market participated to a
moderate extent in the decided strength
aDparent in the STOCK furhel. Inc SpeS-
Native issues were the features of the
dealings. and round amounts were taken
for foreign account. with the Atchison
lines especially fancied. Marked gains
were registered in some of the middle
grade issues. The aggregate sales were
sl4 500 900 Governments We're neglected
at the board, but were steady at bid
prices.
MONEY AND EXCHANGE.
Money on call easy, at l 1-fG1 IL
nor cent: last loan at II per cent,
and closing offered at l-i4l IL per
cent; prime mercantile paper, 31-24i
per cent.
Sterling exchange steady but dull, with
octuoI business in bankers bills at siS
for demand. and $.S5 3-40s4S6 for sixty
dovs. posted rates, 1851 2GsiH and
a. ssGsissl-2; commercial bills, $iS IA.
BAR silver, 60. Mexican dollars. AZ is.
Government bonds firm. State bonds
dull. Railroad bonds firm.
NEW YORK STOCK QUOTATIONS.
Closing Stocks.
Atch,s,s. Topeka ani >Ans1 70 ....... ll3s
Adams Express. ........s. ....."......s..sl4b
Alton. Ierre Haute.. ............s.........s OO
American Express. .-............. .--..... ~
A.n.r,an SlxH ksiI- y........ lIoJl
AMERICAN sugar Refinery preferred. .....104
American Tobacco Co... .............. tile
Au,,rican Tobacco Co. preferred lO3lo