Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-09-03
STOCKS LETHARGIC.
THE EXCHANGE CLOSED OVER TO-
DAY AND MONDAY.
MONEY MARKET HARDENS FURTHER.
Higher Rate Not Reflected I'm Ex-
change Market, which In Slightly
Firmer - Bonds very Dull - The
Crains md Provisions Lower.

NEW YORK, September 2.-There was
a brief period Of activity on the Stock Ex-
change this morning, and brisk demand
manifested for few stocks, but the deal
ings became more and more perfunctory
as the day progressed. The market was
under the combined influence OF the ex-
hausting heat and tightening money mar
he, and the approach OF the Labor-Day
holiday. 1t has reached complete lethargy
bv noon. and the Governing Board were
induced TO reconsider their resolution to
close the Exchange on Saturday, and de-
cided 20 close II from O'Clock to-day I'M
III 10 o'clock Tuesday morning. This de-
monstrates that the weakness Of some
stocks in the day had been due to snort
selling shown by the demand to cover
sborts Manhattan scored an extreme i'm
movement. after marked early weakness,
Of Pa. and Tobacco. after a loss OF near
" 4 points. recovered 1874
The early activity centered in the Pa
ci6cs the preferred stock showing special
strength on the decision OF the northern
paciec directors. announced later In he
day. to put aside reserve fund OF SVVo',
an m insure the continuity OF preferred
dividends.
The common stock fell off point on
ceiling NV holder disappointed in their
sxnectation that the surplus would be dis
trihnted as a dividend or the common
stocks.
The market generally drifted TO lower
Level I'm the later dealings. due to the
taking Of traders profits in anticipation
NJ the three days interval Of trading.
MONEY HARDENs FURTHER.
rho money market hardened further
call loans generally being marked up 10 .
ner cent. on the expectation that to-mor-
80 hank statement would show a still
fnrtber decline in cash holdings and sur
plus reserve.
The higher money rate was not reflected
g., ,ba exchange market, which was slight
~ frmer in tone.
more firmly held than for stocks. Iotal
sales. $2Si5,0CO - -,
The bond market has fallen into dull
nos. during the week, and the higher rates
for money have been reflected In lower
prices. , -. A..
United states old As, registered. and the
IS are IA lower, the former ex-nterest
The new As are Is lower and the rs l-o
lower in the bid price.
The total sales of stocks to-day were
315 200 shares. including Atchison prefer
red ssi5; Chicago. Burlington and Quincy
II "a. Manhattan. $3.50; Northern Pacihc'
70 Az. do preferred, 24Osi; st. Paul, 1O. sl5;
I-nion Pacific preferred. 12.1O2; American
Tobacco 24s15; Chicago Great western
252: Peoples Gas. 6O55; General Electric
II. s5S: Sugar, 5000.
MONEY AND EXCHANGE.
2P M.-Money on call firm at 2aS per
cent last loan at per cent; prime mer-
cantile paper steady, with actual business
in bankers bills at s44 3-+aS4.S for de-
mand and at S4s2 3-4d$4.S for sixty days;
nosted rates s4-SS 1-26S4.a and A.S6; COM
mercial bills. A.S2. =,
silver certificates, 50 1-2d6O IL. Bar Sill
YER COLA. Mexican dollars, 40 S-4
Government bonds firmer.
BANK CLEARINGS.
Tho total bank clearings in the United
s+ates for the week were 81, 269, SSl'siS; per
cent increase. 12.t Exclusive OF Ne"
york. $i5S, 9S1 on, per cent. increase Lo'
NJ ~ TT