Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-08-06
STOCKS ADVANCE.
AFTER OPENING WEAKNESS THEY
MOVE UPWARD WITH A RUSH.
AGGRESSIVE BUYING CONTINUED.
This In Spite Of Depression I'm Both
London and Paris-Whent, Corn,
and Oats Higher-Provisions Also
Rise.
Rise.

NEW YORK, August 5.-The stream OF
speculative and investment money con-
tinued to pour into stocks and bonds to-
day, without interruption. Prices through
out the list were lifted sharply. The
profit-taking movement. which has been
drag on the leading industrials for several
days past, was apparently ended to-day,
and the bears. who sold these stocks
early, on the assumption that realizing
was still in progress. were forced to buy
back later. The result was TO bring the
Industrials into the general current OF the
market, which moved upward with tidal
sweep. The railroads themselves were
somewhat unsettled at the opening, and
most Of the leading stocks declined lisa
IL before the upward movement OF
prices set in.
The opening weakness was in sympathy
with London, and the quickness with
which it was overcome was a striking
evidence OF the independence OF the local
Stock Exchange. There was quite serl-
Gus depression both in London and Paris
on the reported friction between Russia
and Great Britain, and there was quite
urgent selling here for London account
but the supply OF American securities
abroad has been so far reduced in the
past year that the disposition Of foreign
holders to buy or sell has very much less
influence than formerly.
PRICES TURNED UPWARD.
The aggressive buying which has been
noticed in Wall street for several days
quickly turned prices upward, and gained
in volume on the advance burlington
continued to be the leader, and scored an
extreme advance of PA There was
some disposition TO realize In the last
hour, but a decline of a fraction reduced
the market to dulness.
Quickly the reduction in Burlington was
used to cover some extensive realizing at
other points.
There was talk in Wall street OF an
agreement to advance prices, which IN
cluded a number Of interests controlling
vast wealth. That buying came from a
combination Of very powerful interests
was quite evident, but that it was based
on the assumption of a future rise IN
values, and a demand from the general
public for stocks, is equally certain.
Dealings in bonds were not as large as
Yesterday, but the demand continued ac-
tive and well distributed, and carried
prices vigorously upwards all through the
list. Total sales, Si,93OoOO.
United States old As, registered, ad-
vanced Ii, and the SIS, when issued, de-
clined Is in the bid price.
MONEY AND EXCHANGE.
3P M.-Money on call steady at lao
11-2 per cent; last loan at l IL per cent
prime mercantile paper l-2a4 per cent
Sterling exchange firm, with actual Dust
ness I'm bankers bills at SLS5 l-2aSLS5 81
for demand, and A.8 S-4a$4a Tor slNty
davs; posted rates, &.S 1-2aAS5, and
81 S6d$iS6 IL; commercial bills, Si.S2 LA
AS3 A
silver certificates, So 1888 IL. Bar sh-
yer. IS ga. Mexican dollars, - IL.
Government bonds firm. State ponds
dull. Railroad bonds strong.
BANK CLEARINGS.
The total bank clearings for the week
were s1.1S7,699,574; per cent. increase 81,
Exclusive of New York, the total was
1863 S1S, sos; per cent. increase, "a.
NEW YORK STOCK QUOTATIONS.