Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-05-12
STOCKS IRREGULAR.
SMART DECLINES IN THE SPECIAL
AMERICAN TOBACCO WAS DULL.
Bond Market Firm on Moderate
DcaIings-Wheaf Drops = Cents n
Bushel on Govcrnmcnt Crop Re-
pOrt-Other Markets.

NEW YORK, May li.-There were smart
declines in the Specialties to-day, but the
recessions IN the railways were frac-
tional. 1t was holiday on the Continent,
and the death OF an English banker re-
stricted some of the arbitrage business,
but London took about $1,000 shares of the
International stocks. Sterling exchange
was easier, and money ranged from 3
to on call, with the last loan at the
smaller figure. One reason for this Is
that a fairly large volume OF money is
moving toward New York from the in
terror. The crop report was at first In
terpreted as more favorable than expect
ed, but subsequently the bears used the
decrease in acreage" TO depress the
Granger stocks, which had earlier dis
played considerable strength. Burling-
toms net loss Of over point was the
largest in this group.
The understanding that the Ford fran
chise tax bill would become a law was
again used against local shares, the Trac-
ton stocks showing net losses ranging
from / to points, the maximum loss be-
ing In Metropolitan, in which IL was said
part of "A heavy line OF shares had been
lquidated. The veto by the Mayor Of
the rapid transit bill failed to sustain
Manhattan. Covering left these stocks
above the worst, and other shares sym
pathetically rallied slightly in the later
afternoon. The market closed irregular.
Among the weak spots were Sugar. In
ternational Paper, preferred, and United
States Leather, preferred, while Tennessee
Coal and Iron retained over point Of
4. an al
in the iron and steel stocks. The reac-
ton in to-days market was deemed ma
tural by some interests, In view Of the
violent recovery yesterday, which can
celled large part OF the reputed short
interests I'm the market. Speculation lack
ed any decided vim. and there were mark
Cd periods OF stagnancy. which was dis
sipated at intervals when sales were
made. RealiZations furnished the chief
impetus TO the retrograde movement, and
the occasional bursts of strength Were
largely attributable to covering by the
traders at favorable level.
American Tobacco was dull In expecta-
ton of the stock dividend of 100 per cent,
and closed at l02 ID, as compared with
2l2. last nights final figure.
Standard Oil, 4SHi&.
To-days bond market showed firmness.
on moderate dealings. Total sales, $500, =
900. United States new As, registered, adj
vanced Ia, and the SIS and the 3's, Is
The total sales of stocks were G3l, 700
shares, including 1850 Atchison; 81, 900, do,
preferred; 17,15O Chicago, Burlington and
Quincy; $3.50 Louisville and Nashville;
% .260 Manhattan; 1915 Metropolitan Street
Railway; 6,405 Mexican Central; GOO
Reading LIST preferred; 1910 Missouri Pa
cifc; 500 New York Central; $3.50 North
ern Pacific; 6,i30. do. preferred; 1870
Rock Island; 12375 Union Pacific; $50, do,
preferred; $40 Southern Railway, pre-
ferred; 1850 ST. Paul; 1850 American
Steel and Wire; $3.50 Federal Steel; $3.50
Peoples Gas; 1895 Brooklyn Rapid Tran
sit; 26 $50 Continental Tobacco; 10000 sill
yer Certificates; $3.50 Sugar; 500 Ten
nessee Coal and Iron; 7,425 Chicago Great
Western.
MONEY AND EXCHANGE.
Money on call steady at Su4; last loan
at per cent; prime mercantile paper,
1924 IA per cent.
Sterling exchange easier, with actual
business in bankers bills at $i.Si 3-4U
Asi7-S for demand, and $3.50 5-SaSi.s6 81
for sixty days; posted rates. si.S5 i-2U
1886 1-2. and Si.6 l-2QL$i.sS -; commercial
bills. 1881 1-4a$A l-2.
Silver certificates, 81 1-2G6Z l2 Bar sill
yer. 81 3-S. Mexican dollars. IS l2
Government bonds strong. State bonds
inactive. Railroad bonds firm.