Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-05-28
BEARS MAKE A RAID.
SAVAGE ONSLAUGHT on
srcAu AND TOBACCO.
,7OrHS CLOSE UNDER PRESSURE.
eot,s Remain, However, for
uo.t of the Railroad STOCKS
closes with Gain OF 2Ws-
provisions Advance

,.o,t.iSns Advance.
-.---e-----
.,- YORK. May 27.-There was n
5.sposltion in the Stock Exchange
nan. 10 sunder the speculation in rail
c'4. .,5 IN the Industrial Specialties.
foa'' ,.~,sility Of the standard railroad
l'' ID, face Of the demoralized open
s.rar and Metropolitan Street
'- was striklngly like the mid
N.- markets OF yore, when Sugar
,,.r, 10 absorb half 10 three quar-
vas me total dealings. and when many
" Iriastrials now traded in had not
hem conceived.
80 t.,-s seemed TO have gathered
.,.-qce and made quite a savage
'-.,er. uron Sugar, the Tobacco
GO the New York municipal stocks,
s-.,,inr and steel and Wire. Losses in
y. railways were insignificant I'm most
There was a simultaneous decline
|N.w York Central and Pennsylvania,
,.h was u rather marked contrast 20
OBJ. f.fe~ strength of some OF the So
4rl4 dIfcrCntial trunk lines.
DEMAND FOR READINGS.
r. FIRST hour had not expired before
an active demand sprang up for the
securities. DaSeu on the STRONG
slowing Of the April statement of earn
rl & decrease In operating expenses
d.. tra coal company and an increase in
c0., earnings by the railroad companies
combined 90 produce an increase In net
cuuCs for all the companies of $l076i9.
81 injection with the good reports sub
utci by New Jersey earlier in the week,
.r. the May gross earnings OF Ontario
ana Western, the Coalers developed quite
uoyant tone. and enjoyed substantial
GAINS an around. Erie LIST preferred
shares I'm the advantage. The rise In
these stocks was carried 10 other rail
l.ad stocks. and checked the decline in
tlo Specialties. and short covering caus-
ing rallies Of between / and 2 points.
The failure OF the market 10 show any
marked response TO the bank statement
induced "a fresh raid by tho bears, WhlcH
carried Sugar down 10 li5. an eKtieaailee
decline from yesterdays cl0Sc VI
points The market yielded IN sym,
n0thy. the Specialize quite sH"iPiS anu
The railroads only signify
CLOSE UNDER PRESSURE.
The market closed under pressure, but
e.th net gains remaining for most Of the
r.lICgG stocks.
Sterling exchange made an unusual
si.w OF strength for saturday. with
r-a of a. due 10 the hardening money
r,.s ir London. and the demand on that
e.l,re from the Continent for. gold. In
connection with the plethoric condition
beit disclosed by the weekly bank state
~..f there Is some renewed apprehen-
SION NJ gold exports. The railroad bonds
continued strong. at advancing prices,
Reading IS being most conspicuous.
Tr. Exchange Will remain closed until
Wednesday.
There has been a very notable demand
fr .I available issues Of railroad mort
.e.- during the whole week. There
Vls moderate absorption of gilt-edged
CID government bonds. But the favor
goes aye new issues for refundlng ana
..rcluiZatiOn purposes. in course OF dis
r..' by reorganization syndicates, and
rrh may presumably hope for stable
hri0r level OF prices after the floating
,r.r has been absorbed 10y investors.
GOVERNMENT SECURITIES.
United States new IS. old As, coupon,
ana he SIS advanced 4. and the old As,
r-vsrod. and the SIS y, in the bid price.
Ih. U.s. registered. declined y.
The total sales Of stocks to-day were
g.-l shares. including AtchisOn. pre-
fue8 ,-110; Louisville and Nashville,
T-. Ontario and Western. 600, ST. Paul,
ten. American Steel and Wire Company.
$685. FEDERAL Steel. $500; Consolidated
Cas- lN brooklyn Transit, 20,7S0; SUI
slr $3.50.
MONEY AND EXCHANGE.
Money a. call nominal at 2a2is per
Cr.. prime mercantile paper, 3l2Ui4 per
cam
'. .- fAtNdllBt lllill, WIN uNtudl pu0l-
..ss Iu bankers bills at &.S7&nS4.SS for
.usld and SAS5MQs4SjA for sixty days;
stcd rates. $LS6l9QA.SSl2 commercial
.s Sass.
silver certificates 6lG62; bar silver, 81;
Mexican dollars 49,.
State bonds inactive; railroad bonds
strong; government bonds steady.
BANK STATEMENT.
The weekly bank statement shows the
lowing changes:
Surplus reserve, increase. 1890, 200.
Loans, decrease, $1.5lS.SVO.
Specie, increase 50. 500 800.
Legal-tenders. increase 80 asa 100.
Deposits. decrease, So 62O 500.
circulation. decrease, $4,000.
The banks now hold SO, $780, 25 I'm excess
O. ltcdl requirements.