Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-08-02
STOCKS CLOSE LOWER
ru,sy prorN STRONG. nut nuLLisu
sryr,uENT BECOMES EXHAUSTED.
REALIZING ON A LARGE SCALE.
oncrstors Take Advantage Of HcnVy
commission House pcmnhn u"
Tol.o proats-CnlI Money Marked
Up 20 ~ Per cent.

NEW YORK. August l.-To-day's stock
,oa,lot hogan strong Dut the bullsh sem
,ir,c,, hecame exhausted and the close
was loyyor than last nights. The declines
extended IN n point each I'm Burlington
go po,reylvania. and from to points
a, p,.1.,firc Industrials. soon after the
openine realizing sales were made on q
LARGO scale. operators taking advantage
~ heavy commissIon-house demand to
~. che nroats made on the recent rise.
rho outside buying and the realizing
seemed about equally balanced Tor a time.
but the weight of the selling proved too
much for the market TO carry. and prices
c,ve way. The softncss Of the market
caused the Professional operators 10 turn
10 the short side after having realized,
and they attacked values vigorously in
The afternoon. wiping out practically all
~ The gains in the Spccialtics. and carry
zion below last night. There were some
isolated stocks which maintained thci
strength throughout the day. notably l4o
Chicago Great Western issues Colofiuo
Southern. and Chicago and Eastern Hi
nois which rose from fraction 20 ".s,
The strong June statements by AtDr.i,oi5
and Union Pacihc were without l'"' N'"
effect. ,, g.
al mn In ~ uor cent. in the aitciuo"ii.
Cheap money does not appear ic'l,l III a. -
81 did a month ago as i'ull" t ~, -.
Continent arc evidently counting on DOT
,-o,.tn|, 49, .crodits 20 De- established pN
~ oop,ino txpOrt movement. ne ctll-
ING home 0f these credits WouIu ~ seCiis'
,.setlf in sales Of SECURITIES ialntI 'ndi
ehipmcnts Of gold. when tAe i'ahk Oh
1,ngiend IS still buying in the open mar
lot and from Germany. London bought
n,,fto freely Of stocks i'm New York to-
fIv and exchange bills against future
.r.in ehipmcnts continued in large sup
qiv There has also been sharp faii I'D
.vcb9uee on Paris this week. and to-
fey.s sterling exchange in Paris rose li2
corfimos.
Outside BANKS LARGE LENDERS.
plrks m other cities have been large
lenders in New York and nave drawn On
their deposits in New YORK Dant Ks. ly ,os 80
purpose. This operation reduces me posi-
ilitioS Of future strain Old New hoIh
banks through interior demand to move
the CROPS but for the moment II makes
increased demands upon them anu uo,s
nOt offer much relief 60 the local money
standard Rope incomes Fort Worth, and
Denver CITY lists, and oregon snort LINZ
Incomes showed strength OthefWise me
bond market was steady. Total sales
par value. 2.05.p01 Government DohoS
we're UNCHANGED on bid prices. The cou-
pon bonds Of the IS and IS and the new
a. and a'S We're eN interest 49,.
The total sales Of stocks were 67. 4V)
shares. including Atchson, 610; Atchl-
son preferred. 29347; Chesapeake and
Ohio. ESQ: Chicago. Burlington and
Quincy. 10 49, Chicago. Rock Island ana
Pacific. 1900: Chicago. Cleveland ana -.
Louis, $3.50: Louisville and Nashville,
srts: Manhattan. 3O14j: Northern Pacific,
70 $50: PENNSYLVANIA. $50: Reading, lst
preferred. G2iO; st. Louis and Western
preferred. $3.50; ST. Paul, u $40; southern
Pacific. 1850: Southern Railway. pre-
ferrcd. 1910: Union Pacific. 1910; Union
Pacifc. preferred. 1854: American Smelt-
ing and Refining. j. $50; American steer
and Wire. 24O75: American Tobacco. 4S'OO;
Anaconda Mining. 5l0O; BROOKLYN Rapid
Transit. $3.50: Continental Tobacco. T.
10. Federal steel. 7.4S0; Peoples Gas, $500;
Suear 1900: North American. l6,5iO.
MONEY AND EXCHANGE.
Money on call at $780,; last loan at
4. prime mercantile paper. 3A04 per cent.
Sterling exchange heavy. with actual
business iu bankers bills at SLS6l4 for de-
mand and 50 Sia for sixty days; posted
rates g4S}1ASia. and $LS11A.&; com
mercial bills AS2lA.
silver certificates. G0G6l; bar silver, 60;
Mexican dollars. 4S.
Government bonds steady; state bonds
inactive: railroad bonds hrmer