Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-07-02
MARKET QUOTATIONS.
REPORTS FROM ALL GREAT DUsI-
NESS CENTRES OF THE WORLD.
rrices OF Money, bonds, Stocks
Grain, Tobacco, Cotton Cattle
Country Produce, Ac.s Foreign
and Domestic.

NEW YORK, July 1.-To-day's market
was somewhat cratic, the earlier hours
of the day nclining TO reaction, but
stronger tone developed after noon, when
carried prices all through the list above
last nights closing level. There was
no news regarding the general situation
TO account for the early decline, ana
1t must be attributed to general ap-
prehensIon among the professional
traders that the advance in prices has
outstripped conditions. The late strength
did not develop until after a period OF
feverish uncertainty, and hesitating and
somewhat timorous effort on the part
Of the bears TO take control Of the
market. There was a decided falling
Off in activity, and in the outside in
terest in the market. all day. Nor was
there any general heavy selling to rea-
lie apparent. The decline gave every
appearance Of being purely manipulative
in character, the bulls seeming to as
sent to it as promising a benefit 10 the
tone or the market. IL was not Of a
character TO invite aggressive short
sales, and, in fact, the sales that were
made Tor short account were covered
before the end Of tho session, and were
largely responsible fer tho rally.
feature Of the market all day was
the ease with which prices moved both
up and down on small transactions. The
late rise was accomplished without any
great buying, rejecting the disposition
on the part Of heavy operators to nurse
the reaction for the purpose of recu-
perating the market. and preventing its
too rapid advance. London already re-
Elected an increased confidence in the
stability Of values here, and bought quite
| freely during the day.
General news as to the outlook for
| business continued favorable. The trans
| fer of 10000 in currency from the Sub
| Treasury to New Orleans is considered
an indication Of increasing business ac-
tivity in that section. An order from
| Europe for 10000 in gold went begging
| in Wall street, there being no adequate
| profit in the transaction at the ruling
rate OF exchange. The government )
| good showing for the fiscal year, with
a deficit of less than 100000. against
an estimate a year ago Of over sG4, COO, 600
is looked upon n n favorable factor.
| Louisville and Nashville's good show
| ing for May OF an increase of Ss2.02l in
gross earnings and of $6i2i5 in net
helped that road to maintain its price
above yesterdays close. or near that
level all day. This was true OF the In
ternationals as a group. with one or two
exceptions. Manhattan was also
markedly strong all day, on rumors that
surface railway interests were about &c
acquire an interest in the property. with
these exceptions, the whole list declined
below yesterdays close the loss reach
| ing | 81 i'm Sugar and over a point In
| Tobacco Chicago Gas. and Northwest.
| The total sales of stocks to-day were
| 27s, 4i3 shares. including American To
| bacco Company, 100; American Sugar
Refinery. 3i.7c0; Burlington and Quincy
2. 600: Chicago Gas. 5000: Manhattan
Consolidated. 1900: Reading. 1890; Rock
Island. 1000: 81. Paul. 1880.
The bond market displayed a good tone
on moderate transactions, which were
largely restricted 10 the leading issues
| The market showed some irregularity al
times. but ended with the principal lines
showing advantages. The aggregate
sales were 81, 1922. 900. Governments were
duh. but hardened fractionally. INT
| transactions were s2OOO.
MONEY AND EXCHANGE.
Money on call easy at lac per cent.
last loan at per cent, and closing OF
fered AZ 2 per cent; prime mercantile
! paper. 3u4 per cent.
Sterling exchange dull and heavy, will
| octual business in bankers bills at $3.50
sN1-i for demand and siSj 5-iasiS6 10
sixty days: posted rates. si.6 1-2qf4.sl i
and A.ssQS4Ss -; commercial bills As.
| silver certificates. 60 1-4a60 IL; bar ST.
YER. co.'s; Mexican dollars n.
Government bonds strong. state oond
dull. Railroad bonds firm.
NEW YORK STOCK QUOTATIONS..