Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-09-08
BEARS In CONTROL.
THEY PRECIPITATE AN ACTIVE
SELLING MOVEMENT IN STOCKS.
SUGAR IN CENTRE OF STAGE.
Torrents of stock Dislodged ON De-
cline-WhOle List AHected-Wbeat
Weaker-COrn and Oats Decline
Provisions strong.
Provisions strong.

| NEW YORK. September 7-The bears
got the upper hand very decisively IN the
stock market to-day. and precipitated a
more active selling movement than has
yet occurred. There was speculative
liquidation during the afternoon. on a
very large scale, and offerings of long
stocks In some properties which have
| elements of weakness were a mater Al
factor in the decline.
Sugar occupied the centre Of the stage
all day. Ii was evident before the market
opened that the bears had marked II for
their own, and everything that could De
done in the way OF discouraging reports
of the companys business and OF disas-
trous competition was done, through th..
medium Of inspired publications. The
movement was opportune, as the recent
bull movement in the stock was accom-
panied by rumors Of an increased divi-
dend, and the declaration to-day Of only
the usual dividend brought heavy selling
from disappointed holders. Torrents of
stock were dislodged on the decline. ami
all the usual devices were employed 10
tnal rally in the stock was only feeble
the last price being 61-i below las.
nights closing.
The Generalization in Sugar affected
the whole list, but especially the Indus
trials. The railroad list held out longer
against the downward course, especially
the Changers, led by ST. Paul. The rail-
roads ultimately yielded, however, many
Of them showing losses of between one
and two points.
GOLD IMPORTS EXPECTED.
Demand sterling fell further to-day, 20
ass IA. This is considered to be easily
within the gold import point, and gold is
expected to come this week, small con-
signment having been announced after
the close of the market to-day. There is
noticeable increase also in the deposits
Of per cent. government bonds to secure
deposits OF public money on the whole
the prospect seems to be for larger sup
plies OF money within q short time, al
though the call-loan rate was marked I'D
to 4 per cent. in the late dealings.
Dealings in bonds were on fairly large
scale, and prices yielded slightly I'm the
later dealings. Total sales, $3,1S5.C0l.
United States 3's. when issued advanced
is in the bid price. Government bonds
were otherwise unchanged.
The total sales of stocks to-day were
4O7 200 shares, including Atchson prefer
red 1906; Baltimore and Ohio, Il. 556; Chi
cago. Burlington and Quincy, $3.50: Man
haitian, 1925; Northern Pacific. 17,1ls; do,
preferred, 20,ls0; Rock Island, 1855; Union
Pacific 6,5SO; ST. Paul, II, $50; Union Paci-
hc preferred, 10, 40; Union Pacific. Denver
and Gulf, 1885; American Tobacco. Is. 755:
Chicago Great Western, Co.'S; People
Gas, 1860; Sug.r, 1851
MONEY AND EXCHANGE.
Money on call firm at 3-ifi4 per cent.
last loan at per cent; prime mercantile
paper, 4d5 per cent.
Sterling exchange weak, with actual
business In bankers bills at $441-40
A.Si1-2 for demand, and A.s2 1-2d$LS2 81
for sixty days; posted rates, $.S3 1-2d$LSi
and As5 1-2q$4S5; commercial bills,
s4.A 1-2Q$4S2.
Silver certificates. SO 1-266o 10. Bar sill
yer. 60 Ia Mexican dollars, As "a
Government bonds firm.