Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-05-03
STOCKS VERY ACTIVE
DAY OF SPECULATIVE FUROR IN
EaUALIED BEFORE THIS YEAR.
SCRAMBLE TO BUY TERRIFIC.
Occasional Periods Of Hesitnncy,
Hut No Serious Renction-CIose
Generally at Top Level-Grnin nnd
PrOvfsions Decline.

NEW YORK May 2.-Wall street sa"
a CAV OF speculative activity and Juror
which has not been equalled before this
year. There were many varying phases
In the events OF the day. The upward
surge of prices at the opening was met
by enormous offerings to realize, winch
caused loss of from third 10 haii Oh
the opening gain. The upward movement
was then renewed. and there were occa-
sionai periods of hesitancy afterward'
but no serious reaction. The market
closed in another burst Of animation. and
very buoyant in tone. with prices, except
for few stocks. at the top level,
The volume OF outside orders from all
over the country showed large increase
as the day progressed, and the demand
was so active and confident that the
effect of the early reaction was entirety
overcome. The Changers and the inter-
nationals showed remarkable strength.
The scramble to buy at the opening
was terrific, and prices varied from TWO
to three points in Sugar. Burlington 81
Paul, and Manhattan. Speculative ac-
tivity was at tho boiling point, except ior
a few intervals of comparative dulhesS'
In the outside mar6ot there was
eouaT strength and activity Standard
OH liuuidating certificates were the Lea
ture at an advance OF 10 points.
BONDS ALSO ACTIVE.
Tho bond market leaped into activity,
along with stocks, ana showed hotaple
strength. the speculative Issues leadlhg'
with gains of about 2 per cent. single
hlocfs of $4,000 of the Northern racine
and Atchison fouTs changed hahus'
Total s3.575, 600. United States new tours
couoon ex-dividend, advanced 10 lis -,
United States registered Hrsts, the oiu
fours registered, and the hves (the
counon. ex-dividend). IA per cent. In inc
bid price. United States old tours Ies,S
tered. on sales, advanced l Ia, ana inc
fives. coupon, ex-interest, IL per CEN a., ooo
The total sales OF stocks were eli'SVV
shares including Atchison, preferred
$50. Chicago, Burlington and Quincy
az s2l st. Louis and Nashville, zo'9oo'
Manhattan L.. 20, 47O: metropolitan street
Railway, 1870; New York Central, n'ioo'
Missouri Pacific, 1858; Rock Island, 6J'-
!. 550. Northern Pacific. 1850; Northern "a
cific preferred, q, $40; Chicago ana North-
western. COOS: ST. Paul. $500; Southern
Railway. preferred, 6065; Union Pacllic'
ureferred. 81, 2SO American Tobacco H.
90: Chicago Great Western, o,fV'' -
pies. 1880; Sugar, 1oi, 80; Tennessee Coai
and Iron. A.4lO.
MONEY AND EXCHANGE. o.o
3P. M.-Money on call steady al Ieo
DER cent; last loan at per cent priiii'
mercantile paper, 8a7 per cent:
Sterling exchange steady, wtth ac.ua a.
business in bankers bills at s4Sj 3-4VSfof
for demand and $3.50 S-4Q$ia for sixty
DAYS: posted rates. Sia l-2QA.2 ana Sf'e'9
AS51.z; commercial bills, $40.
silver certificates, Sc 1-2q57 IL. fsar ST.
yer. 65-s. Mexican dollars, 40 Ia.
Government bonds strong. state poius
dull Railroad bonds strong.
LONDON MONEY MARKET. ,
The Evening Posts London hnanciai
cablegram says: The only two points u
note in the money market mere are inc
growing belief that the war may COLLAPSE
soon. and the revival of the New YORK
demand for gold. New York bought tSol,-
OOO of this weeks arrivals from the Cape
and the price has risen to us, go.
The future of the money market hinges
on the New York demands for gold ana
the effect of the Chinese indemnity pay
ment on Saturday next.