Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-06-30
STOCKS SAG AWAY.
NOT MUCH INTERRUPTION TO THIS
COURSE AT ANY TINE.
SPECIALTIES GENERALLY HEAVY.
Sugar and the Tobacco Companies
Included In This List-Bond Mar
and LOwer-Other Markets.

NEW YORK. June 2-The stock mar
ket showed the effect OF continued profit
taking to-day. 1t was considered fore
gone conclusion that this would prove
TO DO the case. and most Of the traders
came to the board-room thk morning
bearish In sentiment. The approach OF
a triple holiday. coupled with last weeks
sharp advance In prices. was considered
sufficient reason for reaction. The
lively buying after the opening for Lon
don account seemed for time 10 refute
the position OF the bears. but later In
the day, when the demand had been salts
fled. and an amour cement was made OF
n S2.0a0rD gold sh pment to 90 out on
Saturday, in spite Of the low prizes for
sterling exchange the bears gained re-
Moved confidence. and the market sagged
away. without much interruption, until
the last.
The weekly statement of the Bank OF
England shows that the bank has sue
ceeded in increasing it's stock of gold
only about $4,000 during tho week, while
the demands upon it by the money mar
ket incident TO tho Stock Exchange set
Element have resulted in the mean time
in an expansion in its loans Of ever So
Oo0000. The proportion of reserve 70
liability Is thus reduced from 4244 to 1919
per cent, very striking change in view
Of the widely expressed uneasinesS IN
England over the present low stage OF
the banks gold reserve.
The local stock market, owing 10 the
sustaining effect OF the buying for Lon
don account. Jared pretty well, In spite
90 r.. al hal LIFT
incident To the approaching holiday, the
depressing effect OF the gold announce
ment. tho Hurry III call money, ana q
growing apprehension that the disDurse-
lnent OF July dividends and interest may
not be reflected in the money market Tor
considerable period after July lst.
SHARES THAT LOST.
The proht-taking was conspicuous In
New York Central and Manhattan. The
.,rmer shows a net loss of a point and
the latter OF nearly , points. Consoli-
dated Gas rose at one time . points, on
rumors of a settlement Of the local gas
rate war, but reacted again. The In
dustrials and Specialties generally Were
heavy, including Sugar, the Tobacco
stocks, and the City Traction stocks.
Louisville. Norfolk ana Western, pre-
fsIrcd, Rock Island. Atchison, preferred,
and Denver and Rio Grande, preferred
were among the stocks which showed the
bxSl support.
'rhe bond market was generally strong,
the Erie and Colorado and Southern is
sues being prominent. Total sales, par
value, s. .65Oo0. United States rs and
the IS advanced I. and the SIS = In the
bid price.
The total sales OF stocks to-day were
iS9 800 shares. including Atchison, 1910;
Atchison, preferred, Al59; Chicago, Bur
lington and quincy. 1915; Louisville and
Nashville, l.. 760: Manhattan, 1850; Read
ing list preferred, GOO; Missouri Pacific.
II 40. New York Central, ll,2jJ: Rock
Island. q. 40; Union Pacific. $50: 81. Paul.
2i.64J; Union Pacific preferred, $50; Peo-
pies Gas. $50; Consolidated Gas, 1850;
Brooklyn Rapid Transit, 4i,76si Cont
mental Tobacco. S,2&; Pacific Mail, 300;
Silver Certificates 800; Sugar, 4o,lN.
MONEY AND EXCHANGE.
Money on call firm at 2iaQ6 per cent ;
last loan at 9 per cent; prime mercantile
paper, 2I33t per cent.
Sterling exchange heavy. with actual
business in bankers bills ~ &GikU
SlS7at for demand and As5i2aA84 for
sixty days; posted rates, Ns6dSiN and
s4.SSqSlS9: commercial bills, $4.sji2.
silver certificates. 6llzd62; bar silver,
60i4: Mexican dollars. 4S2.
Government bonds strong. state bonds
inactive. Railroad bonds strong.