The times. [volume] (Richmond, Va.) 1890-1903, 1899-08-16
BEAR ELEMENT
WAS IN EVIDENCE
Made an Early Attack and Then a
Successful Raid Later.
lNDUSTRlALS SUFFERED MOST.
Railroads. Except Brooklyn Rapid
Transit, Being But Little Affect
cd-Iobacco Stocks We're All
Driven Down.
lNOUSTRIALS SUFFERED MOST,

NEW YORK. Aug. 1.-THE bear eie-
ment was ln evidence AN day in the STOCK
market. and came off with lying colois.
They made a vigorous attack lh -l4o
morning. and by O.cloch ateAieu 10 H"Nc
exhausted their EFFORTS Inc oFtl"ey
Jewel OF prices. including tnc maJ'i'tg
OF standard stocks, rose al that Time 10
tho best prices of the DAY IN a4lhp"'hg
Wilhtlo sensational advance in loDucDp'
Ia ho last half hour of the trading the
bears concentrated heaFy assault on
Brooklyn Rapid Transit Ihey Grove
that stock 10 lONia ana cuectudlly piohe
gue market successful ug Ottiilolhb api
efforts to support values. The Industrial
speciaiucs suffered most severely, ana me
reaction in the railroads reached point
3d. only "a few cases. a few of the fati-
road stocks which had shown early
strength succeeded IN retaining net gains
Ia the list of industrials outside of TO-
bacco stocks. not q single STOCK OF I'M
portanco retained any net gain.Amcrlcan
Steel and Wire was under pressure carry
iu tho day ON account OF disappointment
over "A published statement purporiiuE 20
give tho financial condition and the earn
ings Of the company. bat the stock had
recovered am but Is of the early loss When
81 was attacked again, and fell win
BROOKLYN Transit 20 the 10" point or lne
day 3is below last night. All the IRON
and steel stocks We're affected in synp3-
thy. and Tennessee Coal dropped an cN-
IRENE 81. and closed az last nEht
price. after having been pa above in the
morning. Peoples Gas also showed keen
sympathy with Brooklyn Transit ana
lost am extreme 2A. Sugar was "a sur
fcrer and was knocked down By points
The volume Of sales az the low polnt
was small. cxccpt for BROOKLYN Transit
and steel and Wire and there was "a
quick and violent rally in Sugar People
Gas and Tennessee Coal ON rush 10
cover by the shorts BrooNyn It f,.i.
net loss is as, and steel ana WIRE IS
rointe Manhattan was very weak IN
sympathy with BROOKLYN Transit in ne
early dealings but IL had rained QHllt
strongly, ana losses rs hel. Ahe mos
conspicuous movement of the day was
that of American Tobacco. The stock re-
acted ~ before the late raid on Bronk-
lvn Transit but moved up strongly lh we
very face Of the bear raid % near tne
ton figures The days takings OF me
stock were ON am enormous scale. and
It's net gain IS e points The Coniineh''u
Tobacco stocks were strong I'D syihpt-
thy. There was uotdhle upward ih ID.
ment in the Iowa Central stocks ON TAX
OF heavy earnings They show net gains
OF / and ~. respectively. COLORADO Nlu-
land preferred is up nearly "a point, ih'Ie
was period of strength also TOT hail7'5
and Texas preferred and southern anu
central Pacific but their gains were ale
most wiped out in the late decline Inc
boldness of the bears was cue % a CON
victiOn that since the market fcIuSeu 70
20 up yesterday ON the much-lmpfn to
conditions of the local money market
NOTHING else is in sight likely 20 give
an upward movement to prices ING IT,
cent activity of various pools. WhltH Ildfc
taken on heavy lines OBJ various e-'rn- 4"
erffe of the general apathy OF inc inal
ket. also make the market NulhliA"le
The lump in The Berlin discount to-day
OF u per cent and the hardening '-[-
dency Of London discounts XIV l.
pressing effect There was "a holiday on
fha paris I0urst but The course 'l