Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-06-18
STOCKS SHOW GAINS.
rHE CLOSE Is QUITE BuoYANT IN
TONE.
IASK STATEMENT NOT 50 BAD.
~ Is Less Weak Than Had Been
Forctoid--LnrRe Expansion of Loan
ACCOMPLISHMENTS Quiet. and Yield
OBSERVATION-DISCLOSURES Markets.

NEW YORK. June 2.-The bear opera
Tors among the professional traders be-
anne somewhat discouraged over the
vents OF to-days short session, and en-
Saged in something like a scramble to
over outstanding short contracts in the
losing dealings. An unfavorab.e bank
'tateinent had been counted upon by this
'ement TO further a decline. To-day's
statement. while hardly favorable, was
not as weak as had been foretold, and
men the bears started to cover. shortly
after Its publication, they found that 1t
had brought slight offerings to sell. Prices
were marked up quite suddenly, In some
cases TO the highest point of the day.
making the closing quite buoyant in tone.
The banks loss in cash reserves was not
as large by over million dollars as had
been estimated, and the further liberal
expansion of more than 100000 in loans
indicated the faith of the banking au-
thOrities in the money outlook Who are
the borrowers of this large amount OF
money is as much a mystery as was the
increase last week. 1t has certainly not
gone into stock market speculation du-
ring the week. One supposition Is that
the god that has been going abroad goes
in the form of actual loans to foreign in
stitutions. This would help to explain the
mysterious action of the exchange mar
ket. in face OF the gold shipments, which
has failed to reflect any ielding under Of
ferings of bills against the shipments.
STRENGTH CENTRES IN WANDER
BILTS.
The strength in to-day's stock market
centered in the Vanderbilt group. New
York Central, Northwestern, and st. Paul
and Omaha rising from rs to points.
The simultaneous rise Of Ia In Union
Pacific revived rumors of transcontinen-
tai railroad combinations. the arrival IN
this country OF Cornelius anoerplil' anu
the strong statement of New York Cen
trail for the fiscal year were the presuulp-
tive grounds for the strength in THIS
group. The Changers. the Trunk Lines,
particularly Baltimore and ono; ana, III
fact. the railroad list generally, were
There was weakness at one time in
Steel and Wire. Sugar, and Tennessee
Coal, Steel and Wire did not rally strong
Iv. but other stocks, practically without
exception, closed at the pest, anu at hO
table net gains. 81 ,,o,7ad
The bond market was quiet, anu yleIuee
al some points. The volume OF business
i'm bonds has decreased somewhat during
the week but prices in the main nave
been pretty well maintained. Unlteu
States old AS declined pointj tne nv Nv
as. "a: the old As. registered, r. ana 4 >
coupon, Il in the bid price.
TOTAL SALES.
The total sales Of stocks were ~, igo
800; Manhattan, $500; Metropolitan 9' Vse:
New York Central, n,u4; st; P Eau iy,SJo
American Steel and Wire. 1850; Brook
iyn Transit, $3.50; Continental Tobacco
1855; Sugar. 2,6JO
MONEY AND EXCHANGE.
,,ona,, IN call steady at 2ls per cent. ;
last loan at 2A per cent; prime mercah-
tile paper. Sn34 per cent, . .o,
'it &c, It, Sdi Exchange steady, with actual
business in bankers bills az C N fSy sist1
for demand and %SSciigGGSttioS2 an and 81 So.
commercial bills. ASl4:o, D. s,,,.or
Silver certificates, GOl2Me22' bar silNei'
oVt2. Me Sd,,ds inactive. Railroad bonds
irregular. Government bonus S'e'u''
BANK STATEMENT.
The weekly bank statement shows the
following changes: ., oos .oo
Snrnl1s reserve, decrease, S,Soo'4V V'
Ioans increase. S5,55S,2OO.
Snecie, decrease, s3,l5i,5OO: ma
legal tenders decrease, sStz'@"'
De6osits Increase, $l,23lSO
1yrcuiation, decrease, $oyO: oon +, o.oo.,s
MI hanks now hold $25,69ISO In excess
of the legal requirements.