Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-10-25
ST0CKSREACTI0NARY
MARKET INCLINED TO DRAG TO-
WARD THE END.
TOBACCO WAS ESPECIALLY WEAK.
Money shows n Hardening Ten
dency - Bond Market Character
ized Largely by Realizing-Wheat,
Corn, Oats, and Provisions Lower.


market was distinctly reactionary to-day,
IN spite Of some strong spots. Profit
taking was on very large scale Sa.es
on this account were quite well absorbed,
and there was no sign Of Generalization
Of prices. In fact. the taking be-
came obvious, and some OF the room
traders turned bears and sold the mar
ket moderately. The bear faction was
not aggressive, however. and made no
great inroads on values. Neither were the
bulls inclined TO resume their campaign
for an advance after taking their profits,
and the market was inclined 10 drag du-
ring the latter part Of the day. Some at
tempt was made TO irfuse strength into
it in the last hour, by the bidding up Of
Union Pacific and Baltimore and Ohio,
preferred. This induced some slight COW
erlng by shorts, but 50 far as a general
resumption of the advance was concern
ed, the attempt was abortiye. Prices were
very unsteady at the close, ana IN many
cases were pursuing a downward course.
Inc active realizing IN the first nOur
was much helped by Il notable accession
OF outside demand, which was attracted
by yesterdays sharp rise, following "a
week Of stubborn resistance 10 al at
tempts at driving prices downward. This
demand and continued manipulation by
a section Of the bull party, served 10 wipe
out pretty generally The opening decline,
and bring the market back TO about last
nights level Having reached that point,
tho downward course began. and with
the exception OF some Irregular fuctua-
lions, the market continued heavy below
last nights level FOR the rest Of the day.
POINTS Oh WEAKNESS
Special points Of weakness I'm the early
dealings were Sugar American Tobacco;
Mailing preferred Anaconda, Pullman,
and Brooklyn Transit. Aggressive
strength was shown all day BY United
states Leather, which was taken in enor-
nous lots, and rose al one time 20 22%l.
The closing was point below that. New
York Central. after 4 small fractional ad-
vance, met with heavy offerings on the
announcement OF an additional stock is
sue Of Sl5.OO0O0 The stock moved some
what irregulariy during the day, within
narrow range OF prices below last
nights level. The London market reflect
cd some depression upon this market,
and the undertOne there was distinctly
weak, owing 10 uneasiness regarding the
position OF the British troops in Natal.
The suggestion OF the Chancellor OF the
EXcheQuer that a tax on South African
g0ld-mine5 may be looked for, to defray
the expenses of the war, was apparently
not relished by the spectators in the
mine market LOndon'5 sales I'm this mar
ket We're upwards Of 5000 shares. The
had depressing influence on speculation.
The weakness OF Anaconda on the Ex-
change was supplemented by a break in
Amalgamated Copper in the outside mar
ket, and by weakness IN Boston.
MONEY HARDENING.
The hardening tendency Of money was a
CiscOuraging factor for the bulls. Most
of the days call loans were made above
6 per cent, and the rate rose 10 per
cent late I'm the day. Bankers generally
asked per cent for time loans. and
were disinclined to put out their funds
for the longer periods. Rather less money
was shipped 10 the interior to-day, but
the outgO while diminished, still contin-
ues. The sub-Treasury Is also absorbing
funds
Realizing was I'm evidence I'm some por-
lions o. the bond market. making the
price changes mixed. Total sales par
value. 3, 5000. United States old As ad-
yancad = and the new Is and IS y in
TOTAL SALES.
The total sales Of stocks We're GU 900
shares, including Atchison, preferred. %
Island, ESQ: Big -Four, 1000; Louisville
and Nashville, 800; Manhattan 29,1Gj;
New York Central, Hl50 ST. Paul 1855;
Southern Pacific. l5,H0; Union Pacific,
American Tobacco. 1870; Anaconda &c.
$50; Brooklyn Transit, AZ. $50; Federal Steel.
-, 1S3; Glucose Sugar. $50; Peoples Gas,
1916; Sugar. JO.i50; Leather. 1889; Lea
Their. preferred, 22,SS5.
MONEY AND EXCHANGE.
Money on call firm at cas- per cent:
last loan at e; prime mercantile paper,
5M5is per cent.
Sterling exchange steady, with actual
business I'm bankers bills az 81 S6a 4SfT
FOR demand. and at sAS2H0SfS for sixty
days: posted rates. SLSiQsfSrk and $3.50
$f.Ssia; commercial bills. AS2.
silver certificates, 0sia05s. Bar silver,
57L. Mexican dollars, as.
Government bonds strong. State bonds
inactive Railroad bonds IRE gular.