Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-05-01
STOCKS ARE BID UP.
AGGRESSION ovERCOMEs
EFFECT OF LONDON DECLINES.
HANDSOME TOTAL MARKETED.
~, Gains mt Close, However, ~"
mi. ACKNOWLEDGEMENTS Market
Dull and Narrow-or"'" ana M
500,
visions Advance.

Nrv YORK. April SO.-Thcre was au'.e
..a,,,n taking OF prohts to-day
a,,or tho three-days' advance Ia p',.oS
r.. roa,,zing sales clipped of somethihs
~ dsv's extreme advance. ieaN-
ing net gains in the railroad nss i -,
fractional. In some OF the ep'.'..,
notaplys Sugar. there remaineu WV
poirt of net gain ga 90,
IT, hui, leaders this morning had 10
80 ,hs sentimental effect Of early NC
o,,res of Americans IN London eA'o"O
,nr 20 nearly point in some cases
.s,. meant that any advance in prices
80 wound have 10 carry the burdeh Oh
arh,,raee sales. Prices WERE ho"e'e''
hid I'D at every appearance ot.conNoV"
and the offerings OF the aroltrase NV
Iors were quickly absorbed. Inc az
,.o.s,ve leaders kinded the enthusiasm
- h,vers and the small traders foiio"eo
,ho lead Of the big bulls. quite Ia.
enount of commission-house puylhs ""'
"i I,,,, Will business was still active ana
on "a large scale, stocks began W "
e,nnlied. The offerings were sulIcienS ~
feed the demand, ana prices N,.1.so'd q
Cd
o..aaroda movement. Before the reac-
,,on Nd proceeded far, the supply ceaseu;
Meantime. however. a handsome totai
- s,ocls had been marketed at the du-
vance. -, % tho buv-
49,. 6onoand In the second hour, Out IL
1is not reach large proportions, and the
recoveries in prices after the reac'ioN
we're not important. -,,r,r,,y
REVIEW OF THE WEEK.
The market for stocks ana pVlus :"
the early days of the week was liie go 81,
rs, and narrowest that has Deeh seen
Cor years. In SO dull a market there Is
usuallv a natural tendency on the par
80 orices 10 sag, but there was marked
5isrositjon in the market TO resist any
downward tendency due TO the conu4-
,tonai oraers in brokers' offices 10 Duy
Locks ON any sharp decline. The nara
ness OF prices encouraged Po"ei4 ul
coterie Of professional operators 20 ehtei
the market for a bull turn. Ihey cum
menced operations on Thursday. oOihe
following was induced by this leadership
both among room-traders and among
commission house customers. Whether
to-day's profit-taking marks the tsrhli-
nation of the campaign by the big pulis
does not appear on the surface
MONEY MARKET.
Tho future of the money market mas
hinged for some time on the neeoS Oh
the government for war loan Inc
Consultation of the Secretary of the
Treasury with numDee Vi .9H,-
fnonciers served to clear rne SITUATION.
The success of the proposed loan at
ner cent. was felt to be assured, ana
The plans for disbursement seemed 10 pe
sufficiently good TO guard against any
sudden contraction and strlngency' 1hiS
was felt to give promise OF easier con-
ditions in the money market where ie
serves have been closely held ana accom-
modations much restricted Tor some uIle
past In anticipation OF a demahu iOi
the government loan. The actual con-
ditions in the money market have. In
TACT. become apprecably easier during
the week, and the rate for time loans
was shaded from TO IL per cent.
BONDS.
The downward tendency OF raiiroao
bonds has been arrested, ana prices nave
improved during the latter part Oh ,he
week. on an increased business United
States new As have advanced 1873. ana
the 5s. coupon. Ia. while the ola as
registered, have declined Ia. others
were unchanged
The total sales Of stocks to-day were
1es. 500 shares. including Chicago. Burling-
TON anu NSNE4NN INV 49, 1900
preferred, 6,365; St. Paul. l5,26o: Union
Pacific, preferred. 1880; American To-
bacco. 1880; Sugar, 1880.
MONEY AND EXCHANGE.
Money on call steady at 2g2 IL per
cent; prime mercantile paper. 6g7 per
cent.
Sterling exchange weak, with actual
business In bankers bills at $4.SS S-4Gs4.&
for demand and $3.50 3-44s4.H for sixty
DAYS; posted rates. $4.Sl 1-2qA.S2 and
$4S5Qs4S5 IL; commercial bills. AS9
AS01-2
Silver certificates: 5000 ounces sold at
57l-2d57 "a; closed at 81 1-2q5s: bar sill
yer, 667-S Mexican dollars, 40 Ia
State bonds dull. Railroad bonds strong
Government bonds firm.
STOCKS IN LONDON.
The Evening Posts London financial
cablegram says: The stock market here
was stagnant to-day, in view of the holt
day on Monday next. Consols declined
on the fall in New York exchange. Span
ish As were fiat, on the weakening In the
Paris bourse. Americans were lifeless.
Rrazlls were fat, Brazil exchange being
the lowest on record. Dear wheat ag-
grayates TIE troubles in all grain-im-
porting countries. New York bought
gold slightly.