Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-06-23
BEARS In CONTROL.
THEY GIVE APPEARANCE OF
WEAKNESS TO STOCK MARKET.
HOWEVER, RALLIES BRISKLY
Fair sprinkIing of Gains All
Through the List-Thc Close II
Oats Htgher-PrOvisiOns Heavy.

NEW YORK, June 22-The bears Sc
cured the upper hand In the trading to-
day, and accomplished a downward range
of prices, which gave the appearance OF
extreme weakness 10 the market at one
time during the day. But what with the
initial rise in prices and the rally on
covering after the drop. net changes are
small I'm the majority of cases, and there
is a fair sprinkling Of gains all through
the list. The market opened with an up
ward movement, and with more show of
animation In the buying than has been
the case for some time past. The foreign
stock market reflected a much more
cheerful frame Of mind over the political
outlook In France and there was q ces-
sation of the selling pressure from that
source. which has been feature OF seve-
raj days this week
The railroad stocks, especially the
Changers. moved upward smartly' ana
very conspicuous gains were SHOWN Dy
a number of the Vanderbilt stocks, New
York Central. Northwestern. and 81. Iaui
and Omaha rising from lla TO points
Pttsburg, Cincinnati, Chicago ana 81
Louis also recovered points, aiter YES
tetdays drop. There was good buying
Of some Of the leading Specialties, the
Tobacco stocks rallying briskly from yes
terdays extreme weakness, ana sugar
and brooklyn Transit being well TAKEN
Marked weakness soon developed in Fede-
raj Steel. and quickly involved other
Flower stocks, notably Brooklyn TRANSIT
and Peoples Gas, as well as sugar, MI
tropoltan Street Railway, lehIessJe
Coal. Rubber. Consolidated Gas, Keau-
ing. 1st preferred. and other Speclaltles'
The extreme declines were, IN sugar,
4&, Federal Steel. 3is; Brooklyn transit
and Consolidated Gas, "a, ana Manhattan.
Peoples Gas, and Metropolitan, points
l.xl.t
stocks. and the Changers yielded a point
or over, though their declines on the Gay
are only a fraction.
HEAVY GOLD EXPORTS.
The late selling movement was Daseu
on apprehensions expressed by the bears
OF very heavy exports OF goid on oa'ul
day, some of the estimates put OUT lot
effect ranging as high as 100000, though
the only announcement was OF an en-
gagement of 100000. AS a matter OF
fact. the rate for sterling exchange eased
OF Il per cent. for sight bills, the rate
for money I'm London showed an easier
tendency, and the relaxation OF the
strained political situation in France re-
lieyed apprehension OF drain upon tlllS
country's gold reserve.
The market closed firm at the rally
caused by covering OF shorts;
There were one or TWO yleldlnS spOtS
in the bond market, but prices were gene
raliv firm on "A moderate volume of busi-
ness. Total sales, sl925,OO Old AS, cou-
pom. declined a, and the Us, registered
4 in the bid price. ora ,ooo
The total sales Of stocks were SO,lOvO
shares. including Atchison; pretegred d.
II ,O2O; Burlington, ll,S55; ManhattaL' Siiy,
Reading, lst preferred, l23VO New iorh
Central. sos; St Paul, i2l2S; American
Steel and Wire, $3.50; Federal steel i.c S6 80;
Tobacco, Il. 40; Peoples Gas, IL 'SoGi Brook'
iyn Transit 2,i7O; Continental Tobacco;
"a. Ss3; sugar, 1895; Tennessee Coal and
Iron. 12,6ss.
MONEY AND EXCHANGE.
Money on call steady at 2n2le per cent;
last loan at 2 per cent; prime mercantile
paper, 3q3% per cent. .,
Sterling exchange easier, with actual
business in bankers bills at S4.SIAq$l,S
for demand and $4.S5% GS4S6 for sixty
days; posted rates, si.SGi2aA.G and Sl9;
commercial bills, $4.S5d sissy.
Silver certificates. GOlea62; bar silver
60Ss: Mexican dollars, 4Sl2.
Government bonds weak. State bonds
inactive. Railroad bonds firm.