Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-05-25
STOCK PRICES UP.
FINAL FIGURES THE BEST OF
THE DAY.
HONEY CONTINUES EASY.
Bond Market Develops increasing
Activity-Whcnt Undergoes An
other Break-Corn and Oats Lose
Provisions Also Decline.

NEW YORK, May 2L-The stock mar
ket continued moro or less professional
to-day, and there was paipable evidence
OF manipulation. The success OF the cam.
paign for rise, assisted by one or two
factors OF strength, invited an extending
interest, and induced q broadening ten.
uency In the speculation. The advance
vas primarily due to- the rumors. subse-
quently discredited. that the United
states fleet had won q victory over the
SDaniards in West Indian waters. The
mai strength of the market cannot be
attributed 10 these rumors. The final nm
ward rush OF prices was largely due to
covering Of shorts, who had become
| alarmed at the easy advance of prices and
the persistent resistance to decline. es-
| pecially after the contradiction of the
reports Of a successful naval battle This
covering of shorts made final prices the
best of the day. Net gains were well
over point in the International and
Granger groups of the railway list. and
ranged up 20 nearly six points for Metro
politan Street Railway i'm the Specialties
The stocks of iron companies continued
TO show strength, and the Southwestern
railways, as n group, showed some
strength and activity.
MONEY STILL EXTREMELY EASY.
The money market continued in con-
dition of extreme ease, and sterling ex-
change reacted q fraction under the in
fuence of the buying Of securities for
London account, and a further decline
in the London discount rate, which Is
now wei below the New York rate. With
the continued tendency toward ease I'm
the London discount rate, the demand
Tor sterling for collateral is likely to !
cease. 1t Is evident that this country |
can command further supplies OF gold, If |
they prove desirable to have.
The bond market developed Increasing |
activity as the day advanced, and shows !
net gains throughout. Total sales, s.. 225.-
co., United States bonds were zteady. !
without change.
me total sales OF stocks to-day were |
1890 shares, including Atchison prefer
red, 1880; Burlington, 1903; Louisville
and Nashville, 1880; Manhattan. r3.355:
Metropolitan Traction. $3.50; Missouri
Pacific, 1920; New York Central, $3.50:
Northern Pacific. 7,720; preferred 1652S;
Rock Island, 15,72O; st. Paul, 55.79l: wa
bash preferred, 65Si American Tobacco.
6.425; Peoples Gas, 1850; Sugar, 27,7lO;
The preferred. $3.50.
MONEY AND EXCHANGE.
Money on call steady at 1-2d1 81 per
'ent.; last loan at 11-2; prime mercantile
paper, 41-2a5 1-2 per cent.
Sterling exchange easier, with actual
business in bankers bills at HSG1-4D
SO IL for demand, and at $IS+ds4S41-4
or sixty days; posted rates. sfa1-2 and
4d IL; commercial bills, SLS3d$iS31-2
Silver certificates, 81 1-4qjS. Bar silver
Z IL. Mexican dollars, As Ia.
Government bonds firm. State bonds
ull. Railroad bonds strong.
STOCKS IN LONDON.
The Evening Posts London financial
ablegram says: The stock markets here
we're quiet but firm to-day The settle
nent shows small account, and was l
avOred by easy money. Contangos on ;
americans were usually to per cent,
ut few weak bulls were charged Ala
er cent. Milwaukee and St. Paul was
carce, and commanded is per cent {
Americans closed at The
est, with u revival OF speculative inte- I
est