Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-05-26
OCKSMANOEUVRED
DISTRIBUTING OF WAR RUMoRs
MADE MARKET SEEM VULNERABLE
The CALL FOR HORE TROOPS.
This IL Made Much of by the Hears
Wheat RaIIics-Corn and Oats Inn
prove-Pork ana Ribs Lose-Lard
Up.
Up.

| NEW YORK, May 25.-It was a day OF
| manoeuvring for position between the
elements among the traders on the Stock
| Exchange. The bear faction took heart
and tested the market at various points,
with view to dislodging some Of the
stocks which were bought yesterday in
the excitement over the supposed victory
in Cuban waters. The complete discredit-
ing of yesterdays flood OF rumors made
the market seem very vulnerable this
morning. Declines for Americans in Lon
don added to this appearance, and there
was selling for London account in the
early dealings In place OF the rather ur-
gent buying, which was feature of yes
terday's market. The completion of the
settlement on the London Exchange APP
parently ended the demand, which was
attributed to a large outstanding short
interest, but the early reaction did not
go far, and was checked by the vigorous
support given.
number OF Trunk lines and Coalers
shared i'm this strength, but the railroad
list as a whole continued very sluggish,
and did not respond readily to the inn
petus which it was sought TO impart by
This lifting of special stocks. The de-
mand proved very light, and prices droop
ed. No general liquidation was induced,
however, and there was some covering az
the decline, so that the market rallied
and closed dull but firm. In the railroad
list some of the Vanderbilts and the Coal
ers closed higher. Otherwise net losses
were the rule.
THE PRESIDENTS CALL.
The issuance OF the Presidents call for
1900 more volunteers was made much OF
by the bears i'm their afternoon raid.
There was not much doing in the bond
market. but prices were firmly held.
Total sales, $4,000 United States old
AS, registered, advanced LIS; do, coupon,
per cent. in the bid price. The new AS
were bid up 3-S, but declined again.
The total sales of stocks to-day were
$40 GOO shares, including Atchison pre-
ferred, 9,057; Chicago, Burlington and
Quincy 1925; Louisville and Nashville,
10. 72O; Metropolitan Street Railway 1859;
Reading, first preferred $500; New York
Central, 17,211; Northern Pacific. preferred,
II, 1856; Rock Island, 1l,l30; st. Paul, 1880;
Southern Railway preferred. $40; Union
Pacific, 1850; American Tobacco. $3.50;
Chicago Great Western, $3.50: Peoples
Gas, 1882; Sugar, 2l.959; United States
Leather, preferred, 1895.
LONDON MONEY MARKET.
The Evening Posts London financial
cablegram says: The Epson races and
the coming holidays made all the stock
markets here stagnant and featureless
to-day. Americans were steady and quiet.
The London statement that the Bank
of England had reduced the buying price
of American coin was incorrect. The
London discount rate fell to-day to 3-S
per cent This continued weakness is
partly caused by the dearth of American
bills, but the New York money market
may yet harden.
MONEY AND EXCHANGE.
p. M-Money on call steady at Ia
! 1-2 per cent; last loan at l IL per cent;
prime mercantile paper, 4@5 per cent.
Sterling exchange steady, with actual
business in bankers bills at 1886 La
s4S61-2 for demand, and at siA La
s4.S41-2 for sixty days: posted rates, A.S5
and $lH 1-2; commercial bills. N.S La
Sts3.
Silver certificates. 81 1-4G57 SIS; bar sill
yer. 81 1-2; Mexican dollars. 40 IL.
Government bonds strong; State bonds |
dull; railroad bonds firm.