Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-05-13
STOCKS ERRATIC.
BULL ADVANTAGE SUCCEEDED By
VIGOROUS BEAR RAID.
CONSIDERABLE ACTIVITY IN BONDS.
Immense Blocks of High-Grade
Mortgages Taken, mt Improved
er-Provisions Advance.

NEW YORK, May l2.-The bulls haG
the better of the speculative contest to-
day. but the edge was taken Off the rise
In the last few minutes of trading by a
vigorous bear raid. The continued pur-
chases for London account. and the lack
of strain in either the money or the
sterling exchange market, were features
OF confidence. Moreover, IL was an
nounced that the final 100000 warrant
in connection with the Spanish indemnity
would be deposited on Monday in LOCAL
bank, which announced that all the need
ed exchange had been secured. and this
was favorably interpreted as TO its prob
able effect on sterling exchange. The
known movements OF money. although
often misleading, were thought to fore
cast favorable bank statement, as there
had been but few known industrial con-
solicitations financed.
At times the stock market was very
erratic. There was first a recession
from the opening higher level, and then
a gradual recovery until near the close
Sugar moved over a radius OF nearly 10
points, and closed with a rise OF g.
Brooklyn Transit lost nearly point, net,
but closed nearly points above the
fIgrre reached in the raid.
TOBACCO LOSES POINTS.
American Tobacco lost nearly points,
after dip of twice as Jnucn. Metropoli-
tan dropped to 21s2s. jumped over 6
points, and left off with a gain of over
2 points. The Iron and Steel shares
were rather weak. as were the Coalers,
but the Paciics and Changers were strong,
with fractional advances appearing pretty
generally in the rest Of the list.
Immense blocks of high-grade mort
cages were taken to-day at improved
prices, and the strength of these issues
exercised a stimulating effect on the spec
ulative liens. Considerable activity was
noted. The market generally improved.
as and old As coupon, advanced a. and
! do, registered and the 3s Is in the bid
price
Standard Oil, 4s6a4SS.
The total sales Of stocks were 629 300,
including Atchison, 500; Atchison, prefer
red, $50; Central Pacific, $500; Burllng-
ton 1850; Louisville and Nashville 1920;
Manhattan, 1870; Metropolitan Street
| Railway. 612O; Mexican Central, $500;
| Reading, lst preferred, 1890; Northern
Pacific, 500; Rock Island, 7l5O; Union
! Pacific. $40; st. Paul. 2O,Sso; Union Pa
cfic, preferred. 1880; American Steel and
Wire, 1880; Tobacco, 32,SiO; Federal Steel.
1850; Peoples Gas, l4NO; Brooklyn, 100,
566; Continental Tobacco. 1873; Pacific
Mail, 6495; Sugar, lOS,s6O; Chicago Great
Western. 800.
MONEY AND EXCHANGE.
Money on call steady at 3lzQ4 per cent.
last loan at 3ia per cent; prime mercan-
tile paper, 31zHlh per cent.
Sterling exchange steady, with actual
business in bankers bills at S4.S6% 81
for demand. and $4.S424 dS4.S for sixty
days; posted rates, A.Sl2qAS619 and
$4S7IkaSAsSl2: commercial bills. A.&.
Silver certificates, 6l462c. Bar silver.
e07sc. Mexican dollars, 4s15c.
Government bonds strong. State bonds
inactive. Railroad bonds firm.
BANK CLEARINGS.
The total bank clearings in the United
States for the week ending May 18th
were 1885, Us, 1873, per cent. increase,
49, Exclusive of New York, $500 3iS, 77S;
per cent. increase, 1879