Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-08-25
STOCKS IRREGULAR.
GENERAL TENDENCY OF THE MAR.
KET. HOWEVER, DOWNWARD.
TOBACCO'S UPWARD COURSE RESUMED
A Drop Occurs Later, However. on
News of No Dividend In Continent
al, md This Reaches 2 3-S I'm Ame-
ricnn-PrOduce Markets.

Tor securities mostly expended itself IN
the early trading to-day and the weight
OF realizing sales became more burden
some. and at the last made the general
tendency downward. although the mark
ing I'D OF few stocks at the close to top
prices made II irregular. Northern Pa
cifc and the Union Pacific stocks rose 10
top prices in the final dealings. There
were quite a number of rather obscure
stocks which held good gains throughout,
but the earlier rise in many cases was al
most wiped out
The market started Off well under the
influence Of the cheerful tone of foreign
markets. An early drive against Tennes-
see Coal. which carried il down points,
caused momentary halt, especially in
the Specialties. Yesterdays strong upward
movement in Tobacco was resumed, car
rying that stock TO 1914, and causing SYM
pathetic gains Of between l to points
in other leading Specialtes.
There was a large demand for Union
Pacific. Northern Pacific, and Baltimore
and Ohio. which lifted those stocks about
/ point each. There was good buying OF
St Paul. which advanced that stock an
extreme q. but the other prominent
Changers did not respond.
DROP IN TOBACCO.
When il became known, after noon, that
the directors OF the Continental Tobacco
Company had failed 20 declare a divi-
dend. as many spectators had hoped they
would. there was a drop in the Tobacco
stocks. which reached pa in American
Tobacco. Sugar Brooklyn Transit, and
Manhattan responded in sympathy. and
IL Tsut ,,.ts. fian
market drifted rather uncertainty for the
rest of the day. except for some strength
I'm individual stocks. The reduction OF the
dividend rate in ConsOld' ed Gas, al
though IL had been fully expected, had
a bad effect Oh the market The stock it.
self vibrated feverishly over 3 points, and
closed at a fractional loss. There was
quite Il notable display of strength by a
group Of the minor Granger roads, inc!ud-
ing Chicago and Eastern Illinois st.
Paul and Duluth. Duluth and South
Shore. and Atlantic preferred, Alnneapo-
lis and st. Louis, the Wisconsin Central
stocks. Iowa Central preferred. and Des
Mones and Fort Dodge. Gains in this
group ranged from ! TO ~ points. the
latter in ST. Paul and Duluth. other iso-
lated points of strength were ontario
and Western. Chesapeake and Ohio,
Cleveland Cincinnati, Chicago and St.
Louis; Cleveland, Lorraine and Wheeling,
preferred; the Reading stocks, the Colo
RADIO Midland stocks, and Detroit Gas.
Realizing was in evidence all day in
some of the southern and southwestern
stocks. which had shown decided
strength and this. combined with renew
ed weakness In the Specialties. made the
closing rather heavy, except in the cases
named.
LONDON a BUYER.
Money market conditions abroad ac-
counted for the cheerful sentiment from
that quarter. and the London buying of
( no ~ in fraa 1
decline in sterling exchange. SO, also,
had the stiffness Of the local money mar
ket, which ruled firm at about per cent:
The bond market was quite active, and
"A number Of speculative issues showed add
vances. Total sales S,226,O0O United
States old as. regular. declined u and the
5's 4 In the bid price
The total sales Of stocks to-day were
5000 shares. including Atchison. $50:
Baltimore and Ohio. sos: Chesapeake and
SIS; Denver and Rio Grande. preferred
5000: Iowa Central. $50: Louisville and
Nashville. SGD; Manhattan, 5000; Mis-
souri, Pacific 5000. Norfolk and Western.
y .i25: Missouri. Kansas and Texas, pre-
ferred. $3.50. Northern Pacific, 1880;
Ontario and Western, % 250 Reading. first
preferred $3.50: St. Paul, 1920; South
ern Pacific 1900; Southern Railway. $3.50;
Texas and Pacific. 1856; Union Pacific,
II 49, Union Pacific. preferred. 1850; Wis
consin Central. GOO; American Tobacco.
7S O2J Brooklyn Rapid Transit, 1920;
Continental Tobacco. p $50; do. preferred.
$3.50; Sugar, $3.50; Tennessee Coal and
Iron, 1880; United States Leather. 5000
MONEY AND EXCHANGE.
Money on call steady at 2l2G3 per cent. {;
last loan at 3; prime mercantile paper
1915 per cent.
Sterling exchange easy with actual bust
ness in bankers bills at SL&hdSis6i2 for
demand and SAS}Q$AS34 for sixty days;
posted rates. $L&u$Lal9, commercial
bills. $4S2.
Silver certificates. G0d60i2; bar silver,
80 Ills: Mexican dollars, AIS.
Government bonds weak; State bonds
Inactive. railroad bonds strong.