The times. [volume] (Richmond, Va.) 1890-1903, 1898-09-28
BEARS ACTIVE
IN THE MARKET.
Their Work Showed the Adopting Of
sWell Outlined Plan.
TOBACCO UTILIZED AS A LEVER
To Initiate the Driyc-.Priccs damned
Down Until the Bulls by Adroit
Tactics Succeeded In Stcadying
the l.isis-Sugar Demoralilcd

NEW YORK, Sept ~ Transactions in
the railway and miscellaneous share mar
kef showed "a better distribution to-day,
and The railways assumed more prOnii-
ncnce in The trading than Tor some time.
Speculative sentiment became decidedly
learlsh over night and the bears adopted
what appeared 20 De- weii-outiineu plan
during The day Tobacco was UTILIZED ~
lever 10 initiate Che drive, but after the
price was lainmTd down oi4 points 10
1924 the stool, net support ond recovered
materially. The bulls cndcaNorcd 70 stem
downward rushrs by working up sugar
and Metropolitan. and succeeded in
Afeqdvlng tie ust The bcare nnGing con-
siderable opposition in Tobacco turned
their attention to Sugar. and after Great
ius Generalization in this stock, ana tax
lng Tho other specidlNfs INTO camp one
after another ana soon had prices tum-
bling an around. Considerable discussion
was aroused over the movement or To-
lacco. The generally accepted theory
wss that some powerful interest was let-
ting 20 am extensive line. Northern fa-
cifc i'm which tho dealings nave been on
large scale recently, was picHS our;
and a fwo-noint break followed. Liberal
amounts OF long stock from tired hold
ers camo out il the graugers, ana me
trading became quite excited during an
interval in the afternoon. Inc hst
steadled OCCASIONALLY. but any attempt 70
boost prices was accompanied by semi
stagnation Late I'm the day prices haf-
PsCifc. which showed an increase In total
net income OF S21l. 900. AtchisOn's report
for the same period. which developed
later. indicated falling on in net income
Of S43s 40. and the bears renewed the az
tack. with final prices at about me. low
est Sugar after improving 70 lZl@t en-
countered heavy realizing orders, ana on
the way down considerable STOCK came
out around the even figures, which even
tually put the price 20 llI3s. Subsequent
fluctuations were quite leNcflsh, ana the
stock closed at us.
The money market was less active, and
The rates ruled az 30i per cent, with inc
minimum figures prevailing an the close:
Time contracts were without esSenilal
change. ana this was notable sgrlnkaec
i'm the offerings Of prime mercantile paper.
SpeculnfiOns in bonds were centercd
among the usual active issues. and prices
fell of substantial fractions IN some
cases Total sales. Si626.OD Govern
menf bonds shared in general weakness,
tie old As reacung a per cent ooo
Tho total sales Of to-day were 4Io-D
shares. including 1G so Atchison pre-
forred. li.55O Manhattan, 3l,201 sorthorn
Pacific. 1880 do. preferred, 1000 ROCK
Island. 1000 Union Pacific, l3,t20 81.
Paul 1870 Tobacco, 23Sfl Peoples Gas,
~ 300 Sugar. $500 Leather preferred, TO-
Geo United States Rubber.
MONEY AND EXCHANGE Money on
eau steady at 3l0f per cent; last loan
an 3iz per cent; prime mercantile paper,
40I ner cent. Sterling exchange urm,
with actual business in bankers bills nj
Sieigls4al for demand and at ASll5W
slai for sixty days; posted rates, 4.eZH
4 cnfa and 81 80. commercial Diiis S4epia.
Silver certificates. 4l1fui-; bar silver,
aus. Mexican dollars ifas Government
bonds weak. State bonds firm; railroad
bonds weak.