Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-09-01
STOCKS UP EARLY.
GAINS. HOWEVER. PRETTY WELL
WIPED OUT BEFORE CLOSE.
TOBACCO UNDER SEVERE PRESSURE.
General selling Movement in the
Iash Hour, Which Carries Prices
OF to the Low Point of the Dny-
Produce Markets.

NEW hOiNhf AUGUST d. There were
many items in the days news which IA
vored an advance in the prices Of secur-
ties. They were effective early in the
day. but proved powerless % sustain
prices at the higher level. and the gains.
except i'm a few cases. were pretty gene
rally wiped out before the close. The
Improvement IN the tone OF speculative
markets abroad gave an upward impulse
10 prices at the opening. London bought
quite freely Of favorites among the inter
nationals
The buying from this source is attri-
buted to the operations Of a prominent
New York operator making a holiday So
journ in London.
After the orders for London account
had been executed in this market the
railroad stocks fell somewhat into The
background. and the Industrals were
brought forward The lenders I'm THIS
group especially the Tobacco stocks, were
under rather severe pressure. and show
cd sharp declines. Later. there WAS Some
Improvement on the strength Of the show
ing made by several railroads IN july
earnings. Burlington vas the leider'
with AN increase in surplus after charges
Of over $4,000
The Central Of Georgia Railroad form
"A o.
net earnings Of nearly 5000 compared
with July last year. LackaWannh was
marked up on the settlement OF he dis
putc with the engineers. and there was
some sympathetic strength in the other
REALIZING IL TOBACCO.
Meanwhile. the short interest In Con
solidatod Gas showed signs of distress.
and marked M the stock Sis. eN-div-dend.
The bears were Inclined 10 cpler SNWpd.
81. .fH ffN her Nh n
realizing IN Continental Tobacco. pre-
fcrrcd. on the declaration of the first divl-
dend. caused them 10 decline again
There was continued strength In the
Reruhlic Steel stocks. hut the promising
movement in Federal Steel late yesterday
was promptly met By realizing to-cay'
ana the stocks Of that company were
heavy all day. Steel and Wire i2Ieo q.
show any response % the aoill--l.
the stocks To the listed department ot
The chicago and Eastern Illinois rtocks
showed individual strength. and me con- CON
mon gained go and me pref'ff,d ~
colorado Midland. ircfcrred. ana Rio
Grande and Western. common ana P'e-
ferred were strong. -,r>.,r
PRICES END AT Low POM.
Tho persistent hcaviness Of the market
and tho marking mp OF eau lo'ns -
Cd a general selling movement IN w 10 10
hour. which carried of prices 10 the Io"
point Of the day. ,, ., .au
There was "A slight hardening IN rail-
roads. but the Industrals were aI'acNe"
again I'm the final dealings. ...,,.,,,, oe
There was no appaTe1t fesuihpllol ~.
oporat ions by the organized pools ieceully
active The scarcity OF money "ds a.,,
buted 20 preparations lor 1lS -,
monthly settlements. But tnc NV 60
jni,e continue 70 lose cash 20 the SUD-
treasury on account Of the customs anu
intcrnal-revenue payments anu tn..lia,,
n balance of shipments 10 the ny ~
Nf.r.l
over receipts. New hoth H minnie a. a
principal interior points COM IuSs d" "a
disco,int Exchange both on London anu
Paris receded a fraction.
BOND MARKET QUIET.
Tho bond market was rather quiet ana
changes we're small and lrresuinl;; ota.@s
sales par value. &.55Vo. uh'teu tid
Covernment bonds unchanged III p'u
The total sales Of stocks were 4seV9'
i,,'I,,din9 AtchisOn. 7O0O; do. preferred
3 20. Chesapeake and Ohio, tto' Ihi 80,
yps',,i,ngton and Quincy 500; Mlcnlsth
55,,uo.,,tr,i : 10. Missouri. Kansas and Tex
~, 'nreferred. 1900 Norfolk and western,
/ eiN. Wabash. preferred, lVJOs klo HIai,eo
and western 900; American 1opaCCV -. 20
o. Rrooklvn Rapid Transit 43.oJ, 600
~ ~ H-,oi and Iron. 5000: Continental Toe
t taCC o zoo. do, preferred. 26l@; Fede,al
81 90 az international Paper b'JoV'
peonie's Gas. 14151; Sugar, SllD.
MONEY AND EXCHANGE.
Money on call steady at $p3ls; last loan
of 3: prime mercantile paper 4Aa' per
Sterling exchange easy. with o,l aet Siai
,,,1einese I'm bankers bill at A.59$i;oott
for demand and $l:Sa$tSA Tor SKY ,oer
d d9l posted rates, $4SiaA0'12; CONNER
oi sil,er certifcates. 5SAa6O; bar silver
re15-,e. Mexican dollars, ne
% dr,.o,,, mont bonds steady state bonds
s,rong: railroad bonds Irregular