Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-07-23
STOCKS STILL DULL.
GENERAL RANGE Of PRICES MAR
ROW AND WITHOUT SIGNIFICANCE,
FINANCIAL VENTURES IN CUBA.
Talk Of syndicate. Preparing There
for-Time Loans Made for six
Months at the Rate of Three Fer
Cenf.-Produce Markets.

NEW YORK, July 22.-The stock mar.
ket continued in the hands OF small room
traders to-day, who dealt almost ent,reIv
In Industrial specialties. They advanced
the prices of these early. ana thus held I'D
the standard railroad stocks Realizing I'm
the Specialties later In the day caused z,
sympathetic decline in the railroads. car
| rying prices In many cases signify below
| yesterdays close. Except where stocks
| were Influenced by individual causes The
total range OF prices was narrow and with
OUT significance The dulness may quite
equally be interpreted as indicating a dis
inclination to bly, at the present level. or
az an unwillingiless TO sell. The future OF
the international trade situation Is still so
obscure that spectators are not ready to
commit themselves
There were evidences of a pressure Of
funds seeking investment, but they mani
rested themselves in bonds rather than in
stocks. The large demand ;cr the new
government is, which were tIaded In on
the STOCK exchange, when issued" had
favorable sympathetic effect all through
the market. This bond sold to 1919 the
last sale being at that figure. Bids were
Tor small bonds. as well as for full-share
lots OF 1900. The advance in other gov
eminent bonds was called sympathetic
The advantages OF the new issue for pur-
poses OF circulation make a keen demand
Tor them from the banks, though the pres
ent and prospective cheapness OF money
tends to diminish their value for this pur-
pose.
Railroad mortgages were absorbed on a
OF recognized roads. whose value under
reorganization has not been clearly fixed,
We're the favorites. There was also de-
mand for the more speculative issues of
the roads still 10 be reorganized, or whose
payments of interest are contingent upon
earnings.
VENTURES IN CUBA.
The plenitude of money also found re-
Election in Wall street In talk of syndi-
Gates preparing for financial ventures in
Eastern Cuba. Time loans were made for
SIX months at the rte OF 3 per cent, and
sterling exchange continued heavy, under
Offering of grain bills. London also bought
stocks here In spite Of a stiffening of the
London discount rate, IN sympathy with
the fall i'm London exchange here. Dry
goods imports at New York, on the other
hand, for the week, rose above those for |
the corresponding period of last year |
some Nl42sl. and above last week some
seO5,0S2 Coupled with the decline in the |
exports from New York for the week I'M |
der those of last week of 81, 40t, 3l2. these |
figures are rather significant of the trend |
of the international trade situation.
The total sales of railroad bonds par |
value, were s46i5.000
y United States rs advanced L. the new |
AS. registered, "a; the old As, registered. |
and the new As coupon, - and the SIS, |
coupon, IA in the bid price.
MONEY AND EXCHANGE.
2. M.-Money on call steady at 1-4D |
IL per cent; last loan al 1-2 per cent;
prime mercantile paper, 1-2d4.
Sterling exchange easy, with actual bust |
ness in bankers bills at s4.S5 1-ins4 S. l-2 |
for demand, and at stsidA.& ii for sixty |
days; posted rates, s4.S5 and 1856 IL; COM
mercial bills, A.S3 1-2.
Silver certificates. 50 1-2a6O IA. Bar sill
YER. 50 ga Mexican dollars, 46.
Government bonds strong.
BANK CLEARINGS.
The total bank clearings for the week
in the United States were 81 ,152, SS9,653 per
cent. increase so; exclusive OF New York,
,i76 031, $50; per cent, increase. so.