Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-08-04
STOCK MARKET DULL.
SYMPTOMS OF STRENGTH CONFINED
TO A FEW spECIALTIEs.
TOBACCO ONE OF The STRONG POINTS
.,ovcmcnt In This stock Attributed
to Manipulation Directed Against
tho Shorts-Whcat Dcch"es--'or"
ana oats n shade Higher.

NEW YORK. AueUst 2.-To-day's stock
market was profcs- .onM almost entirely
and was dull. except 500 one on two spots.
Svmptons of strength were confined 10 n
low OF tho Spccialucs. notably Tobacco,
which made zap "a large proportion of the
DAVIS total transactions. The movement
q, This stock was attributed 10 manipu-
lstior directed against the shorts, whose
efforts to cover helped the advance Sym
r,t1,tic strength was shown by Cont
mental Tobacco. Tennessee Coal continued
fits remarkable show of strength. and
closed at the highest price at n net
gain of 2l-2 points. Otherwise the iron
and steel stocks were inclined 90 depres-
sion. Wall Street had a rumor that there
had been slump to-day in pig-lron
prices abroad. but this could not be yeri-
fed.
Dispatches reporting threatened
plague OF grasshoppers in Western States
We're used with effect 20 dcprcss the
Granger stocks. Tho trunk lines also
were heavy. The recent buying i'm London
Of this market came 10 stop o"ius 10
the decision Of the London Exchange 20
close from Friday until Tuesday. over lnc
bank holiday on Monday me btdis lli",.'
9 successful attack ON bro2'h,yH , ,,'' in
Peoples Gas. and Rock island carry III
The day. thus increasing the tendency 10
reaction.
The market had IT'S periods Of strength
sustained hv the movement I'm Jopdcco,
The firmnes- i'm sugar and the strength
I'm Rubber and Genera. tiectIic ana %
few Of the railroad Stocks. but the
sfrengfh was not maintained. and
fho fs1lafed railroad stocks. such as 81.
Louis southwestern and some II the
southern stocks. which showed small net
CQfns were so nearly inactive as to have
little effect i'm the general list.
MARKET HEAVY TILL THE CLOSE
m undertone Of the market was heavy
80 the close. Notwithstanding "a sudden
marking up OF BROOKLYN Transit. The
re,rrfion by the Bank of England of its
existing rate of discount. instead of
making an advance, failed 20 have % very
Teessurmg effect
The private rate Of discount I'm London
advanced fraction above the bank rate.
Sterling exchange IN New York resumed
its downward course. Notwithstanding
the advance i'm the London private raie
and the announcement Of shipment from
Australia 10 san Francisco Of 81 ,2jj.615 in
gold. in Paris rentes tended downward
again. These incidents are accepted as
ndmouitions that If exchange here falls
10 the gold-importing point London ana
tho Continent win sell securities rather
than part with gold. The decline I'm the
local money market was after most OF
the days business was over ana was
without significance.
Kansas CITY. IlttSbuiE, anu 0uIi t'L-
tinued iu demand to-day, and gained li2
per cent. net. Otherwise the bond mar
k4t was dull and irregular, with total
sales amounting 20 81 10000. United
states bonds unchanged I'm bid quotations
The total sales OF stock were 10000
shares. including AtchisOn, preferred -
B5: Chicago. Burlington and Quincy, 10
$50: Rock Island. 1o2Si; Manhattan. CO.,
Northern Pacific. $3.50; Reading. first pre-
ferred. GeoJ: 81. Louis southwestern,
$3.50. do. preferred 71i0, ST. Paul, 300;
Southern Pacific. 7430: American steel
g f-O: American Tobacco. 93110; Brooklyn
RAND Transit. 81 SO; Colorado Fuel and
Iron. 300: Continental Tobacco. $500;
DO. preferred, 6G0; Peoples Gas. $50;
Sugar. 1850; Tennessee Coal and Iron
1880. ..-.....-l.,-
MONEY AND EXCHANGE
Money on call steady at sal; last loan
az @. prime mercantile paper. 4Qiei per
cent 90. ..,
business I'm bankers bills M Sio6H4A.oll2
fr demand. and $780, isis for sixty
o1ve. posted rates. $iNtGSiolla ana Sfcfr2
Q$i6S. commercial bills, %Lb-l2.
Silver certificates. 60l206l; bar silver
6p.: Mexican dollars. As.
Government bonds steady; state ponds