Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-08-29
STOCKS END STRONG.
A MAJORITY OF THEM, HOWEVER,
SHOW NET LOSSES.
TOBACCO SHARES MOVE UPWARD.
So Also DO Manhattan, metropolitan
Street Railway, Sugar, ana Some of
the Iron and Steel sfocks-Producc
Markets.
Markets.

NEW YORK. August 2S.-There was a
marked falling off IN interest in railroad
stocks to-day. compared with that pre-
vailing last week. Interest shifted to
the Industrial Specialties, and a number
Of these were marked up in a fevcrish
and irregular manner. The general list
was maintained with difficulty, and
slight furry In cell money in the half
hour raised the prices. in the final
hardening movement, on covering by
shorts some OF the Specialties and a few
obscure railroad stocks rose anew tc he
top level. This made the closing Of the
market firm IN tone. but the majority
of standard stocks show net losses.
An Influential factor In the hesitating
and doubtful tone Of speculative interest
was the renewed anxiety over the money
market outlook, caused by Saturdays
bank statement Call money was quite
stiniy held at 3 per cent all day, and
was marked above that in the last hour,
possibly not without manipulation. But
the fact remains that the present low
stage Of surplus reserves of the New
York clearinghouse banks keeps the
financial world keenly observant and in
somewhat uneasy frame Of mind. Pro-
LESSONS Of confidence that the West Il
Imply PROVIDED with iunQS 10 IlndnCe lNr
coming crop movement without calling
on New York. do not altogether avail, in
lace OF the condition Of the local banks.
Neither does the suggestion that the local
trust companies have large, available
funds. which do not figure In the clear
ing-house banking reserves. although both
OF these explanations have undoubted
force. The buying Tor London account.
which has served 10 sustain some stocks
recently was missed.
TOBACCO Up
There were upward movements Of i'm
portance to-day In the Tobacco stocks,
Manhattan. Metropolitan street Railway.
Sugar and some of the Iron and steel
stocks. the latter under the influence OF
q declaration of the first dividend on Re-
public Steel. preferred, Of ia per cent.
called quarterly. American Express
jumped ~ points over Saturdays price.
on the other hand, here was weakness
in international Paper. Colorado fuel.
Brooklyn Transit, Tennessee Coal, and
Few other Specialties.
In the railroad list. the only stocks 20
show any marked demand were South
ern Railroad preferred. and Kansas and
Western issues showed wide changes. but
were rather feverish at the advance.
There were. besides noteworthy gains IN
Mobile and Ohio. Hooking Valley, pre-
ferred. Omaha Northwestern, New York
Chicago and St Louis, 2d preferred;
Evansville and Terre Haute, preferred;
Wisconsin Central, preferred Minneapo-
lis. st Paul and Sault Ste Marie. and
Iowa Central. preferred.
There were notable gains In a group or
high-pficed stocks. including lacka-
wanna ST. Paul preferred; Northwestern.
preferred; Wells Fargo, and Pullman.
New Haven and Omaha, preferred, were
bid up. without sales.
There was no notable feature In the
bond market. Total sales. 2.2iOe0. United
States new Is advanced X in the bid
price.
Total sales OF stocks were $4,000
shares, including Atchison. $50: Atcni-
son. preferred. 1880; Chicago Great West
ern. 1885: Manhattan. l5,5O; Missouri
Pacific $3.50; Mobile and Ohio, 600; Mis-
souri,. Kansas and Texas. preferred, 300;
Northern Pacific. 30; ontario and West
ern. 900: Reading, st preferred, $50;
ST. Paul. $50: Union Pacific, IS. $50; Union
Pacific. preferred 14.55l; American steel
and Wire 5000: Am erican Tobacco. 3SiiO;
Brooklyn Rapid Transit. 2Ll1O; Colorado
Fuel and Iron. 5000: Continental Tobacco.
20 go: Continental Tobacco. preferred.
22.745: international Paper 5.Gl5; Sugar,
l3. 43O: Tennessee Coal and Iron, $50,
Western Union. 5000.
MONEY AND EXCHANGE.
Money on call steady at 24iQ3 per cent;
last loan at per cent, prime mercantile
paper. 44d5 per cent.
Sterling exchange steady, with actual
business i'm bankers bills at &.S6i20
q. 500, for demand and SLShnS4Sl2 for
sixty days: posted rates. $i8in$4S7l2; COM
mercial bills Si2i2 $1,000,
Silver certificates, 6Od6Oi2; bar silver,
90 g-1G: Mexican dollars. IS.
Government bonds irm. State bonds
inactive Railroad bonds strong.