Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-08-17
STOCKS IRREGULAR.
CLOSE ACTIVE. But WITH MOST
SHARES LOWER.
TOBACCO STILL BEING BULLED.
of Per Cent. Dfyf-
dend on &. & o. stock, the First in
the History of the Present Conn
pauy-Produce Markets.
den'I on &.
the History

NEW YORK. August 1.-THE violent
raid made upon the values Of securities
by the bear element yesterday furnished
material for it's own remedy IN the shape
OF uncovered contracts on the short side.
There was a fierce contest in the early
dealings TO break prices further. the
bears continuing 10 centre their attack
on Brooklyn Transit and the local Trac-
ton stocks. Other members Of the group
proved more vulnerable than BrooSlya
Transit IN which powerful support by
inside interests was forthcoming, while
Metropolitan Street Railway aud Man
haitian yielded easily. The best efforts
oI The bears only carried Brooklyn Tran
si a shade below yesterdays figure, aud
friends Of the stock were apparently
ready 10 take all that was offered.
The continuance Of the aggressive bull
movement in American and Continental
Tobacco and strength in United States
Leather helped toward the discontinue
Of the early bear movement
When appearances began to Indicate
that the bear campaign was abortiva.
there was a movement TO cover. The
strength embraced a very limited portion
Of the general list, and the high-priccd
railways continued neglected and rather
heavy Railroads in the southern region
were generally strong, on the general
good business conditions and Industrial
expansion I'm that region. Louisville led,
on account Of the reports of large earn
ings for that road and rose an extreme
Is.
DIVIDEND on c. AND o.
The declaration Of a / per cent divi-
dend on Chesapeake and Ohio stock, the
hrst in the history Of the present com
pany, helped the movement Atchison,
preferred. was strong. on the reports OF
continued large cutting down of ope-
rating expenses.
The condition Of the money mar'let
here showed an easier tendency again,
and some New York banks were reported
to be bidding for commercial paper Tor
the first time i'm several weeks. sterling
exchange rose in sympathy, in spite Of
the continued hardening tendency OF
money in London.
The late raid by the bears to-day came
with the appearance Of realizing sales IN
the Tobacco stocks They attacked those
stocks wiping out the earlier gains, and
forced Sugar down 10 l57 81 and other
Industrials q like amount. Meantime.
Southern Pacific continued It's advance.
This made the close active and very r.
regular the railroad stocks which have
advanced yielding only a small fraction.
The majority Of stocks, however are
lower.
Changes in bonds are small and irregu-
lar Total sales, par value. -'lojVOj
United States new IS advanced il and
old As Is in the bid price.
Total sales Of stocks. 5GS 600 shares. In
Guiding Atchison. preferred. $3.50; Cen
trail Pacific, / $50; Chesapeake and ohio,
G.57j; Chicago Great Western. 300; Bur
lington. 1850: Rock Island, $3.50; Louis
Vile and Nashville. TO- 40: Manhattan,
6S5S; Missouri Pacific, 1850; Missouri. Kan
sas and Texas preferred. 800; Northern
Pacific 52j0 St Paul, GOJO; Southern
Pacific CA 90: Southern Railway. l3,lOO:
do preferred. q so: American steel and
Wire $3.50: American Tobacco. 53.4l5;
Brooklyn Transit. 63,6S5; Continental To-
bacco 1920; do. preferred. 5.5sS; sugar,
$3.50; United States Leather 26.S)0; do,
preferred. 6.i50
MONEY AND EXCHANGE.
Money on call easier at 2a3 per cent
last loan at 21-2; prime mercantile paper,
1-2u5 per cent.
Sterling exchange firm. with actual
business in bankers bills at SA& LA
1886 1-2 for demand and A.s2 S-iQ$iS5 for
sixty days: posted rates. SLS l-20SiA and
$As76$48T IL; commercial bills. ASl 1-24
"a 50.
ver COLA: Mexican dollars. IS.
Government bonds strong. state bonds
inactive: railroad bonds irregular.