The times. [volume] (Richmond, Va.) 1890-1903, 1898-05-07
DAY CLOSED
WITH LOSSES
Notwithstanding the Many Elements
of Strength Shown.
MAY WHEAT A SHADE LOWER.
The Range Yesterday was Ten Ceuts
Stringent Money Conditions in
Europe and LondOn-Toneo
the Bond Market Strong

NEW YORK. May 6.-There were strik-
tug elements ot strength in to-day stock
market Notwithstanding the fact That
most or inc days changes are on the
slide of losses. The bull sentiment had
several severe drawbacks TO contend
with and the selling pressure on the
market was a. times very heavy. Again
and again The buying demand was SUM-
cent to overcome AN obstacles and 10
absorb AN offerings. carrying prices up
ward ou "a large volume OF business. 10
was not until The final hour that the mar
ket finally suCcNmUed 10 the burden OF
liquidation and yielded practically all
earlier gains. and established losses rang
iug up 90 . per cent. in some OF the spe-
C.uiUes. American stocks were heavy IN
London before the opening here in SYM
pathy with a general depression I'm that
market.
The resumption Of the gold import
movement has been cited as bull argu-
Weut. but the Withdrawals OF gold from
London and Europe have resulted 10 re-
ncWal OF stringent money conditions
there This BOO turn has weakened inc
speculative market and has induced large
selling Of Americans because OF the good
market for them existing here. and more
particularly the purpose OF relieving the
demand for exchange ~.
market would have successfully absorbed
the Offering had it not keen for the de-
velopment of The Lafayette episode. winch
caused some tlwioify amongst buyers.
The bond market showed the effect ot
selling FOR London account ln some or the
speculative issues as did the stock mar
ket Otherwise. tho tone was strong, and
S2A5Oo00 United states new as, regis
tered. and the old Is. coupon. advanced
D. and the new as coupon. the old q s.
registered and The J's. y per cent. IN the
bld price There We're sales of the old
a. registered. at am advance of ~ over
The total sales Of stocks were $1,000
shares. including Atchison preferred IL
1851. Baltimore and Ohio. 94JO. canada
SautbCrn. 9GO. Burlington - 221. Louis
villa and Nashville. li5lO, Manhattan,
1910. metropolitan street railway, b.oo'
ReIdiur Isl preferred lOjJj. Missouri Pa
cinr 1860. New York Central IOJpi
Nortbern Pacific. g. 4O3. DO. preferred ~
g1s. Reading. 1870. Rock Island. 31,26J;
$50 Paul fOGJO. Union PACING preferred
f.rf-. Wabash preferred. $50, Ameri-
can Tobacco. 4S.dj2. People 1as, o.td''
Sugar. 53SSl; tennessee Coal ana l'o"
e.G75
The Evening Posts London financial
cabIceram saws. The stock markets mere
,.,re oulet and dun to-day. tonsols were
Ic,slr nn me temporarily dcIrer money.
due 10 preparations for the indemnify pay
yoont by CHINA tomorrow ana IN conse-
oueuce OF which the market had Dor
,oy,ed about g8OOOOCO from the Bank OF
ENGLAND. Americans were bought specu-
fsfiveiy. The announcement Is made OF
gEOOOOOO Greek loan, guaranteed by
Isrgland France and Russia. heard a
,lstnor this evening late that the loan 10
,ifelv srranged. The spanish gold pre-
MUM Is Ia per cent
Money AND EXCHANGE Money on
cal Arm AT 2LgG2& per cent: last loan az
1iL ner cent Prime mercantile pa per. "a
~ cent. Sterling exchange steady. WIN
actual business in bankers bills al +efV