Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-02-08
STOCK PRICES LOWER
AN AVERAGE LOSS OF FROM ONE
TO TWO POINTS.
PURCHASES FOR LONDON ACCOUNT
These. With Covering by shorts,
Rally the Market-Whcat Weak
and Lower-Corn DccIincs-Oats IN
chsngcd-ProvixiOn Lose.

NEW YORK. February stock prices
receded to-day, wsth an average loss OF
l to points, which was exceeded in "a
number of instances. The ratification Of
the peace treaty by the Senate induced
the purchasing from London OF about 25,-
600 shares There was less enthusiasm
locally and after an initial rise from
fractions 70 a point and over in many
cases traders were free sellers, in anti
cipation of a reaction. When it became
evident that prices were not holding.
commission houses were free sellers.
Prices receded rapidly in some instances,
and were presently at practically last
nights closing
The purchases for London account,
which were partly due to anticipating the
fortnightly settlement, together with COW
ering by the shorts, rallied the market.
Washington houses were large purchas-
ers, while Chicago houses sold. The mar
ket became feverish and semi-stagnant.
New York Central displayed strength on
its gross earnings for January, which in
creased $4,000.
LIQUIDATION.
The constant hammering by bear traders
| forced many stocks TO d point al wnIcn
! lquloatlon was induced, winch made the
| lbMtSl prices. IHGIG Was ldlh lAldl IllOst
| OF the selling was in the interest OF d
| bear clique, said TO have been formed yes
| teiday. The Iact mat the room traders
| acted often in unison was the only sup
| port found for the story. From the nigh
est there were reactions of from 10 /
| points. Among the weakest features WNe
| General Electric, Tobacco, sugar, Metro
pOlitan, Manhattan; Great northern pre-
| fcrred. Pennsylvania, the Pacincs, lHe
| Changers, the headings, ana some Hlilioi
InGustrldiS. =, - .,.,t n,
| professional, ana there was no una
! vorable DEVELOPMENT IN the news thdt
| attracted attention. Money continued III
| abundant supply, ana ACCORDING W aI "a.
| TRACE houses, recent EOnOOn SAFES stem
| to have been settled for, ana me pur-
| chases for abroad to-day leave balances
due the local arbitrage houses Dy Lon
Standard Oil, 456a4563s, closing.
BONDS WEAK.
! Considerable weakness was manifested
! I'm certain quarters OF the Dond market,
I and prices generally were lower, in sym
| pathy with stocks. Total sales &,iO,OD.
! United States new As declined Is in the
/ bid price. 1900,
| shares, including $3.50 Atchison; 1850 do.
preferred; $500 Central Pacific; II ,5OJ
/ Chesapeake and Ohio; 22,s30 Chicago, Bur
| lington and quincy; 1885 Louisville and
! Nashville: 1850 Manhattan; lilo Metro
| politan; 1860 Reading 1irst preferred,
$50 Missouri Pacific, 23,SSO New York
| Central; 1890 Northern Pacific; 5ilO DO,
| preferred; 7,725 Reading $3.50 Rock Island
! bis Union Pacific: $3.50 ST. Paul; S,Z2t
Southern Pacific; 1880 Southern Railway
preferred; 5000 Texas and Pacific; Z,22C
Union Pacific; 1850 Tobacco; 9,120 Bay
state Cas- 1920 Federal Steel; lOt2O dor
preferred; 1880 Peoples Gas; f94O Co con
solidated Gas: 1880 Brooklyn Transit
1850 Pacific Mail 2G553 Sugar; 6'SoJ Ten.
nessee Coal and Iron; $50 Rubber; lt,SZs
Chicago Great Western.
MONEY AND EXCHANGE.
Money on call steady at 216 per cent
prime mercantile paper, 24Q3A per cent
Sterling exchange. steady, with actua
business in bankers bills at &.ShpSts3'
for demand. and at &.SA0A. S312 for SIX
! tv DAYS: posted rates, NAdA.Sil2 ano
ST. SGdS4 S6ta: commercial bills. Si.oZ12GSi -
Silver certificates nominally oyl24oV2
Bar silver. $685.. Mexican dollars. AIS.
! Government bonds irregular. State bond:
strong. Railroad bonds weak.