Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-06-28
STOCKS END STRONG.
NEW YORK CENTRAL AGAIN THE
CENTRE OF INTEREST.
FINAL PRICES OF DAY The HIGHEST.
business Larger Than for some Time
Past-Wheat, Corn, and Oats Conn
pnrativcIy Firm and Highcr-Pro-
visions Advance

NEW YORK, June 2.-The activity OF
the buying of railroad stocks showed some
raining OFT In The course Of the day. after
an active opening, but the demand spraus
up again In the last half hour of trading
IN iuii force. and carried prices OF the
railroads 10 the highest OF the day. New
YORK Central was again the centre OF in
terest In the market. and ii was q flnai
squirt OF ~ points in that stock that
gave the market its strong close. Man
haitian was also rushed up In the final
dealings TO ia. on the announcement OF
the closing OF contracts looking TO a
change in motive power TO electricity
The bulls were active in a concerted
movement to make final prices of the day
the highest.
Federal Steel was conspicuous at the
opening by an advance of is on the dis
missal Of the injunction against the pay
ment of the dividend declared on the
common stock. Denials from official
sources that any labor trouble was i'm
pending among the street railway en-
ployees In Greater New York q so gave
an upward tendency TO Brooklyn Tran
sit. and Steel and Wire showed some
sympathy with Federal Steel, since the
directors OF that company had assigned
the Injunction against the Federal Steel
Company as a reason for not declaring
a dividend on their common stock. Sugar
was also disposed to move upward.
TC-day's business as Il whole was, how
ever. larger than FOR some time past, and
was remarkably well distributed through
the railroad list. to-day's reports of
earnings from all sections emphasizing
the effect OF those received yesterday.
UNFAVORABLE BANK RETURNS.
The Increased speculative activity can
F..sl l.s.r
commodations, and this IL expected 10
aud to the already unfavorable bank re-
turns for Saturday i'm which gold exports
of 100000 will have 10 hGure. Tine
heavy dividend and interest obligations
to be met July LIST will also make heavy
temporary demands on the money mar
ket. The possibility OF squeeze in the
circumstances is taken into account by
some observers, but IL was noticeable
that to-day's hardening Of money rates
in New York resulted In fall IN the
rate of sterling exchange, although the
rates for money in London were also
higher, on the demand incident 10 the
Stock Exchange settlement. LOnuOii
bought stocks in New York. which action
was said to represent bear covering OF
the settlement. and which HAD its intu-
ence in lowering the rate of exchange.
but whatever temporary furry may occur
IN the local money market, the July dis-
bursements will undoubtedly bring relef.
tivty and strength In sympathy with
stocks. Total sales, par value, G.2JI,VOJ.
United States 2's advanced "a and the IS
u in the bid price.
The total sales OF stocks were 1880
shares, including 22.599 Atchison, pre-
ferred 5000 Chicago. Burlington and
Quincy; 1912 Louisville and Nashville;
2S.27S Manhattan: 1870 Metropolitan Street
Railway; 12725 Union Pacilc; 1850 DO.
preferred $3.50 Missouri Pacific; 35l@
New York Central; 300 Chicago North
western; IL. 1872 Rock Island; 1850 Read
ing, lst preferred; 1890 American steel
and Wire: 4S. $50 ST. Paul; 1905 Federal
Steel G.00O Peoples Cas- l.255 BROOKLYN
Rapid Transit; 14,1S5 Continental To-
baccO: 80 $50 Sugar
MONEY AND EXCHANGE.
Money on call steady at 2l2a3: last
loan at 2i2 prime mercantile paper, ga
3$4 per cent
Sterling exchange easier, with actual
business in bankers bills at AS72iWs+.oS
for demand and ASl2uA.S3, for sixty
days: posted rates. St$i2MS4.S and A.SSl2
@S4.S9; commercial bills. A.S5A.
Silver certificates. 60l2u62: bar silver.
coz: Mexican dollars. 4Si1.
Government bonds strong; state bonds
inactive: railroad bonds strong.