Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-08-23
WAR OF INDUSTRIALS
FIERCE CONFLICT IN NEW YORK
STOCK EXCHANGE.
BROOKLYN TRANSIT STORk-CENIRE.
Sugar Receives Attention Also from
the Bears-SpecinIties Wenk-Nota-
bic Advance I'm Norfolk and West
ern-Producc Markets.

1lct IN lnuuStflalS RACED all Gay tO-udF
between opposing speculative interests
on the stock Exchange. Brooklyn Rapid
Transit was the storm centre, as. it has
been for many days past. This stock
showed evidence Of support at the OPEN
ing OF the stock market. and got over
point above last nights closing level. In
view Of this support, and of the rally of
international Paper, the bears turned
their attention to Sugar, which dropped
almost Immediately 2lad6 on the cut OF
the price of refined sugar by the company,
and the meeting Of IT by the competing
concerns. Steel and Wire lost 2 points. on
the failure of the Listing Committee TO
admit the stock TO the Listed Department
Of the Exchange. Later in the day Man
haitian and Consolidated Gas were adj
mitted to the objective points of the
bears.
Much had been hoped by the friends of
Brooklyn Rapid Transit from the publ
cation of n statement of the companys
finances. and estimates of earning power
under the recent consolidation. The state
ment. when published. proved so obscure
that deluge of stocks for both accounts
poured in. carrying the price down TO a
above par, an extreme decline of nearly
6 points. Only the most determined sup
port checked the decline at that point
The stock was lifted again to 1925 and
closed at 1925. The decentralization in
brooklyn Transit was shared in lesser
degree by Sugar which dropped an ex-
IRENE 5s,. and Steel and Wire, common
and preferred; Federal Steel. Peoples
Gas. and Metropolitan, which declined
from to 2 points.
RAILROAD LIST.
The extreme weakness OF the Special
ties was ignored for time in the railroad
list. where there were early advances in
Denver and Rio Grande, Norfolk and
Western, the Reading stocks, Baltimore
and Ohio. and Wheeling and Lake Erie.
second preferred, the last-named rising
over points.
The continued and violent decline in
Brooklyn Transit caused sympathetic de-
preston throughout the market, earlier
gains being mostly wiped out, and a
number of standard railroad stocks in
Guiding the Changers. dropping point
or over below last nights prices.
The rate for call money rose TO per
cent late in the day, probably not with
out manipulation, but quickly yielded 10
3 per cent, near which 1t had ruled all
day
The final rally In Brooklyn Transit af-
fOrded relief to the whole market. and
losses were partly retrieved, the most ac
tive specialties recovering from l to
points.
ADVANCE IN NORFOLK AND WEST
ERN.
There was a notable advance late in the
day in the Norfolk and Western stocks,
after the common had reacted a point.
with the general list. These stocks show
net gains OF pa for the common and ia
for the preferred
London sold about 10000 shares on bal
ance in this market.
The bond market was active, but
changes were small and irregular. Total
sales. par value, $2.67S 900. United States
bonds were unchanged on bid quotations.
The total sales of stocks to-day were
Ge3 400 shares, including AtchisOn, 1850;
Baltimore and Ohio. $500; Central Pacific,
6050; Chicago. Burlington and Quincy,
900; Rock Island. 1880; Louisville and
Nashville. l0, 4OO Manhattan. 25.5l5; North
ern Pacific. 1850; Missouri Pacific, 1850;
Pennsylvania, 600; Reading first pre-
fcTred, $3.50; do, second preferred, $500
St Paul. % $50; Union Pacific, $780, do.
preferred $3.50: Southern Pacific. 40 655;
American Steel and Wire. $50: American
Tobacco. 1880; Brooklyn Rapid Transit,
is, as; Continental Tobacco, 1910; Federal
Steel 1875 International Paper $3.50;
Peoples Gas 90i5; Sugar. &.42O; Tennes-
see Coal and Iron, 1850; United States
Leather, 65i6.
MONEY AND EXCHANGE.
Money on call steady at 22d4 per cent;
last loan at 3; prime mercantile paper,
p405 per cent.
Sterling exchange firm, with actual
business I'm bankers bills at $tS6laaAS6&s
days posted rates A.SiG$iS71a; CONNER
cial bills, AS2amAS3A.
Silver certificates GOa6l; bar silver, 595s;
Mexican dollars, AIS.
Government bonds steady; State bonds
Inactive railroad bonds irregular.