Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-06-22
STOCKS LETHARGIC.
THE MARKET As A RULE SHOWS
SMALL LOSSES.
BREAK IN THE TOBACCO STOCKS.
RumOrs of Discussions Among the
Directors of the Compnnics--Wbeat
Provisions Unchanged.

NEW YORK, June Administrations IN
stocks were of paltry proportions, but
this did not preclude some pretty wide
movements of prices. In fact. the lcthargy
OF speculation left the market vulnerable
a any spot where genuine liquidation was
thrown upon IL. Such liquidation was un-
doub'cdly made in all Of the tobacco
stocks. American Tobacco suffered most
severely, the extreme decline being 3-s
Continental Tobacco dropped an extreme
OF points ana the preferred s. Very
heavy blocks of ali three stocks. running
from 1000 to 5000 shares, changed hands
I'm the course of the decline before the re-
bound. The break I'm these stocks was due
to rumors, which have been persistent for
several days, OF discussions in the dlrec-
tory on the likelihood OF a division of re-
sources and possibly destructive competi-
ton. Coming on top of the experience Of
the last few days in the Steel stocks. to-
days events added largely TO the scnti-
ment Of disfavor held toward large num-
Der OF Industrial stocks
The Steel stocks themselves were pretty
firm. on account of assurance that the
money for the preferred dividend on Fed
eral Steel had been set aside before the
declaration OF the dividend on the COM
mon, and also because Of a prevalent be-
lief that Steel and Wire is soon to be en-
tered in the regular listed department OF
the stock Exchange which would neces-
state a detailed statement Of finances and
earnings.
GREAT SPIRITS COMBINE.
The announcement OF great combina-
ton Of the exporting spirits and distil-
ing companies was accompanied by a
rather striking fan in the stocks OF the
constituent companies. American Spirits
dropping over Q points. the preferred IL.
and Standard Distilling. preferred, a
point. Notwithstanding the alluring as
surance that the new combination in
wolves decrease of the capitalization
outstanding Of the constituent companies.
Baltimore and Ohio stocks dropped off
3 and 2 SIS respectively. for the COM
mon and the preferred. on the continued
large decrease in earnings shown by the
returns.
There was a rather notable advance in
the Morgan group, including Cleveland,
Cincinnati Chicago and 81. Louis: Chi
cago. Indianapolis and Louisville. prefer
red Hooking Valley, preferred and Ches-
apsake and Ohio. This was followed by
an upward movement in the Vanderbilts.
including Northwestern, st. Paul and
Omaha. the New York, Chicago and st.
Louis stocks and New York Central.
These gains were not well held. Pitts
burg Cincinnati Chicago and st. Louis
dropped 1-2 points, on very small deal
ings. American Car stocks and hmer-
can Smelling, preferred, showed good
gains.
The general market was semi-stagnant.
but as a rule showed small losses.
BOND DEALINGS SMALL
Dealings I'm bonds were small but
prices were well held. Total sales, par
! values. N795.000 United states old Is,
| registered. receded is.
The total sales of stocks were 10000
shares. including $3.50 Chicago Burlington
and Quincy; 1850 Manhattan' $500
Reading, LIST preferred; $3.50 New York
| Central: 5000 Union Pacific; 100 81. Paul;
5000 American Steel and Wire; 42.i.3
American Tobacco: 1850 Federal Steel:
II so Brooklyn Rapid Transit; 12.8 80 Sugar;
| 80 300 Continental Tobacco; 800 Tennessee
| Coal and Iron; 1926 Continental Tobacco,
preferred.
MONEY AND EXCHANGE.
Money on call steady at 2d21-2 per
cent; last loan at . 10 prime mercantile
| paper, 3d3 ga per cent.
Sterling exchange steady, with actual
! business In bankers bills al S.S>dA.& IA
for demand and S4.Sj 5-4fl$i@ for sixty
DAYS: posted rates, A.S6d%.Sl ana N.%;
commercial bills. A.S5n$4S -.
Silver certificates. 60 l-3u62. Bar silver,
6O1-2. Mexican dollars, 4Sa4S 10.
Government bonds weak. state bonds
inactive Railroad bonds firm.