Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-09-28
STOCKS STILL DULLER
ADDED TENDENCY TO CENTRE IN
A FEW SPECIALTIES.
AMERICAN TOBACCO DOWN.
TOBACCO
Weakness In This and Tennessee
Coal Holds Back the Market, Which
Markets.
Markets.

NEW YORK, September 1.-THE stock
market fell a degree further to-day to-
wards stagnation, and the activity. such
as II was, showed an added tendency TO
centre in a few speculative Specialties
Tennessee Coal was relatively much more
prominent than for some time past, and
registered an extreme decline of 6 IA
points. American Tobacco showed the
continued effects of the pressure to which
it had been subjected recently up to the
time of the announcement OF the declara-
ton of the regular dividend. The weak
ness in these two stocks served TO hold
back the market. which showed ten
dency to advance from an early period in
the day. Better advices from abroad
made the opening higher. and the an
nouncement of an additional engagement
of $4,000 in gold in London for import
added to the conviction that the exchange
situation admitted Of regular import
operations.
The continued high price Of money, in
spite of the gold announcement, served as
a setback To tire advance, as was the case
yesterday, but later I'm the day rumors
were industriously circulated of the early
approach Of gold imports on large scale.
At the same time the money rate was
quickly offered down by successive stages
10 3 per cent, but before 2 o'clock call
loans had been made at all the way from
y TO 20 per cent. 1t was said that money
could be had at a lower rate on some
high grade railroad stocks, but the nigh
er rate was that quoted on the Exchange.
Under cover of the requirements, ana or
what were called commissions, there was
room for considerable manipulation OF
the quoted rate. This was true IN the
time-loan market. in which there was
considerable demand for short loans, as
well as in the call-loan department. Very
little is doing in mercantile paper, out
rates are firm.
BANK STATEMENT TO-DAY.
Predictions of a favorable bank state
ment tomorrow, upon which GATE the
clearing house institutions are 10 make
their weekly return, were factor In tne
firmness of the market The outgo 10 the
Sub-Treasury will be something less than
half a million dollars. shipments 70 the
interior have continued on a considerable
scale. How far they have been oHset
by small sums here and there, attracted
by the high money rate cannot De Clear
~ estimated. 49,. -
there has evidently been further con
traction of loans. The character or the
statement will largely depend on now
far the demand for accommodation IN
preparation for October frst settlements
has offset this contraction.
The movement Of prices In me ran
road list was very narrow Atchison,
preferred. enjoyed belated demand, on
account OF its August statement, ana
Southern Pacific rose quite strongly late
i'm the day. - ...,,o.
The stringency OF the money market
resulted i'm a decline in the sterling ex-
change rate. in spite OF the further ed-
vance i'm the private discount rate In Lon
don.
BONDS INCLINED TO FIRMNESS.
The bond market was without any spe-
cial feature, but was inclined 70 firm
ness. Total sales, par value, N,0o,W
United States 3's declined II and the OLD
As. coupon, a in the bid price. 49,.
The total sales of stocks were S6j'5l0
shares. including Atchison. preferred.
1000: Manhattan, 1850; st. Paul. $3.50;
Southern Pacific. 1870; American To-
bacco, 1870; Brooklyn Rapid Transit,
rs. 495; Sugar, $3.50; Tennessee Coal ana
Iron, $500; United States Leather' u''ZI
MONEY AND EXCHANGE.
Money on call easy at 3QD per cent;
last loan at 6 per cent; prime mercantile
paper, 5lzQ6 per cent. TIT $500,
Sterling exchange easier. win aetuai
business in bankers bills at A.S5qsl for
demand and &aihnSiSl% for sixty days
posted rates, A8@A.S6ls; commercial
bills, ASOiaGA.S. o
silver certificates $500; bar silver 5Slz;
Mexican dollars, Az.
Government bonds weak. Stale bonds
steady Railroad bonds steady.