Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-04-28
STOCKS ARE HEAVY.
STERLING EXCHANGE STRONGER,
AND CALL MONEY At LEGAL RATE.
PRICES GO OFF WITH 4 RUSH.
The Market Closes Under PRESSURE
Trading Practically All for Pro-
fessionai Opcrntors-A slump In
Whent-PrOvIsions Decline.

NEW YORK. April 27-Stocks opened
up this morning easy and after moderate
fluctuations either way slid back on ac
vices OF crop damage. Sterling exchange
was stronger, and call money was at
the legal rates per cent.--in the after
noon. all of which combined TO send
prices off with a rush, and the market
closed under pressure. The demand for
money was incidental to the preparations
of corporations to meet May disburse-
ments. and then there was a disposition
among traders to anticipate a possible
squeeze in call money tomorrow, when
loans will carry over to Monday. There
was moderate arbitrage buying for Lon
don account early. and the traders also
were prominent buyers, but the diminish
ing commission-house business prompt
ed them 10 switch their position and sell
for turn. The trading. in half mill
lion shares. was practically all for pro-
fessional operators. Silver certificates
representing 10000 ounces changed hands
at from oSAQ6ihc.. the latter being the
highest figure IN over two years. The
bull speculation In silver. as well as
dividend gossip, impaired strength to
Denver and Rio Grande issues.
Anaconda Mining had over points
Knocked from its recent advance on liqui-
dalton induced by the denial Of large
interest that the Copper Trust" had
control of the property. Manhattan
Beach dropped Z points. with little re-
covery, on stop-lOss orders being re-
ported New York Air-Brake sold up
points, the greater part Of which it held
on the approach Of the judicial decision
which friends of the property hope Will
be favorable. Delaware, Lackawanna
a rod =
depression, which was contested with
rumors OF impending labor difficulties.
FREE SELLING OF SUGAR.
The neayiness of the market was ac-
centuated by free selling of BROOKLYN
Transit and Sugar, although an earlier
the company would offer rights 10 sub
scribe for "A new issue Of stock at par,
to be used In connection with some deal
with the rival interests.
Further Improvements were made In all
the standard railway mortgages to-day,
and some new fiotations were also taken.
coo. 80 ''''' '' '''''''
United States registered S's declined
Il. and do. coupon. the new AS, coupon,
and the IS. Is in the bid price.
The total sales of stocks were $40. 400
shares. including $3.50 81. Paul; 6'joo
Southern Railway. preferred; 1882 Ameri,,
can Steel and Wire; 6,945 International
Paper; $500 International Paper, pre-
ferred; $3.50 Federal Steel: 1851 Fede-
raj Steel preferred; 500 Peoples Gas;
6l.696 Brooklyn Rapid Transit; 1910 Con-
tinental Tobacco; $50 St. Louis and
Southwestern; 11.3H Atchison. preferred;
1907 Chicago, Burlington and Quincy;
1920 Denver and Rio Grande; 1888 Den
yer and Rio Grande, preferred; 1895
Louisville and Nashville; 1850 Mexican
Central; $500 Reading. 1st preferred; u. 40
Missouri Pacific; $50 North American
Company; $40 Ontario and Western.
Standard OIL. 4S5n4S7.
MONEY AND EXCHANGE.
Money on call steady at sac per cent:
last loan at per cent: prime mercantile
paper, 3l2uiL per cent.
Sterling exchange strong, with actual
business in bankers bills at SlS7hQ
ASls for demand and $l.S5AnASi2 for
sixty days; posted rates, A.Si9uASjU
A87l9dS4SS; commercial bills, Si&hq
s4S4%4.
Silver certificates. 6S7sdGi: bar silver,
63h; Mexican dollars, 4S!aQ5O
Government bonds weak state bonds
inactive. Railroad bonds strong.