Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-05-26

MORE ANIMATED, At LEAST, THAN
FOR SEVERAL DAYS.
CONSIDERABLE OUTSIDE INTEREST.
Operations, However, Continue
Largely In Professional Hands
Holiday Over Monday and Tues
Gay--Whent Stronger.

NEW YORK. May transactions in
stocks were on n larger scale to-day. and
trading showed more animation than for
several days past. There were evidences
OF considerable outside interest I'm the
market, especially in railroad stocks But
operations continued still I'm very large
part In professional hands. II was a con-
hict between the bulls and the bears for
supremacy. and the bulls easily had the
best Of It, There were several conditions
that aroused apprehension on the part of
the bears, and they showed disposition
to cover short contracts from the outset.
Apparently. there had been a quiet pick
ing up Of stocks for the long account in
tho recent depression. and the holders
were as willing to take profits. If they
could get them, as the shorts. They pro-
ceeded, therefore. TO bid up the market,
and induced quite an active movement
for both accounts.
The decision of the Stock Exchange to
keep closed over n double holiday. from
the coming Saturday until Wednesday.
was n motive for closing up accounts,
both long and short
SUBSTANTIAL NET GAINS.
The market hesitated only momentarily
at the opening, at which time low prices
for the day were made in nearly all
cases. and then moved quite strongly and
confidently upwards. There were occa-
sonal pauses and set-backs. and some
irregularity and a realizing movement in
the late dealings brought prices gene
rally below the high level. but very sub
stantial net gains remained in nearly all
cases.
1t has been obvious for several days
that the short interests We're becoming
rather unwieldy. and that premeditated
80. 1...fNa IN
market from the shorts previous to the
| coming HOLIDAYS Some OF tho factors
which assisted the bulls Were the excel
lent reports Of railroad earnings for the
third week in May which continued TO
be received this morning. This was espe-
Cially true Of the southwestern roads. or
which the shorts were rather free sellers
yesterday. The rather buoyant tendency
of the wheat market. on the continued
crOp-scare. was therefore ignored, and
the CHANGERS and SouthwesternS were
quite freely bought Reports were circu-
lated. with the appearance OF authen-
ITCHY that the dividend disbursements
for the current period on the Atchison
preferred stock had been practically de-
| cided upon. The shorts who had sold on
doubts of this were therefore driven to
cover
MODIFIED FRANCHISE BILL.
The passage of the modified Ford fran
| chse-tax bill, amelioratng the conditions
pOrations, lifted that group Of stocks
quite markedly. London was buyer OF
| stocks to a moderate extent, and this
was an influence In the easier tone Of
| sterling exchange, which relieved some
slight apprehension Of possible gold ex-
ports.
Sugar and the Coalers were manipu-
lated for rise by the bulls, and there
were evidences of strength in the South
ern Pacific and Central Pacific. These
conditions were too much for the equa-
nimity of the bears. and they Joined in
the buying movement, with results as
above indicated. Pressed Steel Car was
the most conspicuous exception TO the
prevailing strength.
There was a continued large demand
for all available classes Of bonds, gov
ernments included. and prices are higher
all around Total sales, par value, $4,643
coo United States 3s, coupon, and the
new IS advanced a, and the SIS sc. in
the bid price.
The total sales Of stocks We're 49, 800
shares. including $500 AtchisOn, prefer
red 2i650 Burlington; 2,450 Louisville
and Nashville; 1860 Manhattan; 1895 Me-
tropOlitan: 19. 200 Reading. first preferred
$50 Missouri Pacific; $50 Northern Pa
cifc: $500 Ontario and Western: $500
Rock Island: %, $50 st. Paul: 1900 South
ern Pacific 1890 American Steel and
Wire: 1920 Federal Steel; 1920 People s
Cas- 80, $50 Brooklyn Transit; $3.50 Cont
mental Tobacco; 2906O Sugar, and 1850
| Tennessee Coal.
MONEY AND EXCHANGE.
Money on call easier at 2l2q3 per cent.
last loan at 2i5; prime mercantile paper,
3i2diA per cent.
Sterling exchange easy. with actual
business in bankers bills az $iSIzG$iS72i
for demand and $LShqs4Sl2 for sixty
DAYS; posted rates, $i&lsa$LSl2; COM
mercial bills, $AS5uAS5i4.
Silver certificates 6ln62; bar silver, 6lls;
Mexican dollars, 4Sl2.