Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-05-07

STOCKS SHOW LOSSES
STILL, THERE WERE ELEMENTS OF
STRENGTH IN THE MARKET.
THE LAFAYETTE EPISODE.
This Has Tho Eject OF Preventing
Successful Absorption of Onerinss.
Nay Wheat n shade Lower-fro-
visions Neglected.

NEW YORK. May 6.-There were strik-
ing elements OF strength In to-day's
stock market, Notwithstanding the TACT
that most Of the days changes are on
the side OF losses. The bull sentiment had
several severe drawbacks TO contend with'
and the selling pressure on the market
was at times very heavy. Again and again
the buying demand was sufficient to over
come all obstacles. and to absorb all OF
ferings, carrying prices upward on a large
volume of business. II was not until the
final hour that the market finally sue
cumbed 10 the burden Of liquidation
yielded practically all the earlier gains
and established losses ranging up 10 Z
per cent. i'm some of the specialties. AMIR
lean stocks were heavy in London before
the opening here, in sympathy with a
general depression I'm that market.
The resumption OF the gold import
movement has been cited as a bull argu-
ment. but the Withdrawals of gold rom
London and Europe have resulted In a
renewal of stringent money CONDITIONS
there. This i'm turn has weakened the
! speculative market, and has induced idrse
| selling of Americans. because OF tne eoou
market for them existing here, ana mole
particularly for the purpose OF renewing
the demand for exchange.
The indications are that the New YORK
market would have successfully apsorDeu
the offerings. had ii not been lor the ne
velopment OF the Lafayette ePlsoue'
which caused some timidity amongst
buyers.
BOND MARKET.
The bond market showed the effect OF
selling for London account I'm some OF
tho speculative issues. as did the STOCK
market Otherwise. the one was strong
and prices are generally higher. Iotal
sales. 81. 10000. United States new IS
registered. and the old as, coupon. ad-
vanced IL. and the new As tcoupon)' the
old as Tegistercd). and the 5s. Ia per
| cent. I'm the bid price. There were sales
of the old as Registered at an advance
of ! 34 over the last sale.
The total sales of stocks were 5000
shares. including Atchison tpreferred),
1891; Baltimore and ohio. $50; Canada
Southern. $500: Burlington. N,2N; Louis
vile and Nashville, 14.5l0; Manhattan,
1I475; Metropolitan railway, $3.50; Read
ing first preferred), 1886; Missouri Pa
enc. 1850; New York Central, rJoJ;
Northern Pacific. 6.4O3; do. preferred. IS
27S: Reading, 7.27O: Rock Island. 1929; 81.
Paul. 40. $50: Union Pacific Nreferred),
45145; Wabash preferred), S,SS5; American
Tobacco. 1852: Peoples Gas, 6,735; Sugar,
55.3S1: Tennessee Coal and Iron, 6.675.
MONEY AND EXCHANGE.
Money on call firm at 21-2d23-f per
, cent: last loan at 21-2 per cent; prime
mercantile paper. a per cent.
Sterling exchange steady. with actual
business i'm bankers bills at $i.SinS4Stl
for demand and $3.50 3-4a$4.S for sixty
dove. posted rates. SiSl 1-20$t.S2 and
s4 S50AS1-2; commercial bills. $500
$3.50 -.
silver certificates. 5Gd55 81; bar silver
Sc: Mexican dollars, 20.
Government bonds strong; State bonds
| dull; railroad bonds Irregular
FOREIGN STOCK MARKETS.
The Evening Posts london financial
cableoram saws: The stock markets mere
were quiet and dull to-day. Consols were
lower ON the temporarily dearer money
due 70 preparations for the indemnity
novment by China tomorrow. ana III
. consequence of which the market had 10
harrow about e3.O00,OO0 from the Bank OIL
England.
Americans were bought speculauvely.
The announcement is made OF a i9'VU.
coo Greek loan. guaranteed by England
France. and Russia.
heard n rumor this evening late that
tho loan TO the Transvaal Government
had been definitely arranged.
The Spanish gold premium is la per
cent.
BANK CLEARINGS.
The total bank clearipgs i'm the Onlteu
states for the week were N,li6,t2S-per
cent. increase, 10; exclusive OF New AorA'
s526 1ei 2G3-per cent. increase, 10.