The times. [volume] (Richmond, Va.) 1890-1903, 1898-03-05
BEAR MARKET ON
STOCK EXCHANGE.
It Becomes More Sensitive to Foreign
News.
BOND MARKET WAS LlSTLESS,
The Armours and Other Elevator In
tcrests Unload Sufficiently TO Cause
Decline i'm whcat-Thc
Richmond Markets.

NEW YORK. March 4.-The course OF
stocks show losses OF from to per
cent. to-day on a very small business.
The market was quite inanimate at times.
and what business there was was con-
tained in few leading stocks. All OF
these showed weakness, but the down
ward course was pursued In a very de-
sultory manner until the final hour, whch
the bears made quite a determined drive.
They broke the price OF Reading nrst pre-
ferred four points, and carried the gen
cral list TO The lowest OF the day but
covering in special stocks Induced some
rallies, notably IN KeaoinE uISl pitlciitN'
New York Central and MctrOpoutuh
street railway. Higher quotations from
London lifted the level Of prices at the
opening, but the fall was practically un-
interrupted afterward. Efforts 10 Taliy
fhe market were feeble and unsuccessful
Sugar was under considerable pressure,
but showed good resistance. Union ~,
cinc preferred was depressed al Day ana
closed over two points lower. New oIh
Central fell al one time over two points,
but rallied ~ in the final dealings. Inc
local traction stocks were sufferers dlt'r
the opening, the extreme decline IN M,lto-
politan railroad reaching nearly V polhts.
The gTangers also figured largely ln the
selling. A large part OF ms seillhs was
known 10 be for Washington accounts
and inquiry was very Keen lor news 10
account for II. Significant news was
scarce. and IN It's absence numerous ru-
mors were set anOat, one 10 the effect
that purchases OF warships ABROAD hdo
been made by the United states Govern
mput The renewed depression OF span
ash securities abroad. and the news on
the purchase of two warships by inc
Spanish Government had some eHcct.
London operations i'm this market were
significant. the ugnness OF money IN
London having apparently put a. STOP
to speculative activity mere. NOtWith-
standinC the hardness of London money
.NHHa @ NH
The local requirements. foreign eNchdht'
went lower again to-day demand attll-
ing falling 10 4Siis. Nearly AN the - $50
49, iu gold which starts Tor New 1ork
tomorrow comes from Paris, ana no
small part of 10 is said 20 represent the
French payment for American securities
bought In London during the recent dis
turhauccs iu Paris. The weakness IN eN-
chang BIS due To- the continued pressure
of grain bills sold against the shipments
OF the Chicago wheat pool.
The bond market was listlcss ana heaNy
to-day in svmpathy with stocks. Ioial
sales S2621.o0o. United states new > $
and the old Is coupon were - lower b'd
Tho total sales of stocks were 3O1 800
shares. including Chicago. Burlington and
Quincy. IL 40. Manhattan. $50; Read
iuC FIRST preferred. Jl3j: New YORK Cen
frdl. 1881. Northern Pacinc preferred,
1a.D5O. Rock Island. 1l1t0, st. PAU. %
$50. Union Pacific trust receipts. 1..'b'.
American Tobacco 5,GiO, Peoples Gas
1910. Sugar f5.9li
MONEY AND EXCHANCE.-Mone on
call firm at 2N2ia per cent, last loan at
per cent: prime mercantile paper 4p4i p
Der cent Sterling exchange weak. with
actual business bon bankers nills at iSlis
for demand. and at 4sli20 iSl"i for sixty
days. posted rates 4Sin4Si2, CONNER
cial bills. 1903, Silver certificates. - "a
DIS. bar silver. j4i, Mexican dollars. 10.
Government bonds weak, State bonds
dull, railroad bonds weak