Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-08-24
STOCKS CHEERFUL.
NO MATERIAL SETBACK IN THE
PRICE ADVANCE,
AMERICAN TOBACCO Up Z POINTS
This the Most Conspicuous Move
ment OF the Day-COntinentaI To-
bncco Rises 3 Points in sympathy
The Produce Markets.

NEW YORK. August 23.-Affairs in the
stock market took on a cheerful appear
ance from the opening to-day, and there
was no material setback in the advance
in prices from start TO finish. though the
dealings were decidedly irregular at times
during the day. 1t became manifest at
the opening that the inside interests in
Brooklyn Transit were prepared to offer
very determined resistance to any further
decline in that stock, which they have
not been doing for some time past. To-
day the price was never more than ~
above last nights level. and was ex-
tremely feverish all day, within a range
Of about points But pressure against
the stock was relaxed when the deter
mined nature Of the support became EVIL
dent There was some disposition TO
cover short contracts in other stocks,
which have shown sympathetic weakness
with Brooklyn Transit. The cessation
Of the bear campaign left the way open
for an upward advance, and there was
large element inclined to buy stocks
ADVANCE IN TOBACCO.
The advance in American Tobacco was
! the most conspicuous movement OF the
| day. a deluge Of offerings was encoul-
caused a temporary halt but after the
absorption Of these the upward movemen,
was resumed. The extreme rise was
over points Continental Tobacco rose
points. in sympathy. Sugar showed
| momentary weakness at the opening, but
was increasingly strong as the day pro-
crossed, and is up 2ls on the day. There
were heavy takngs of the Leather
stocks, which have gained liz and rs, re-
spectively.
THE RAILROADS.
In the railroad list business was ex-
ceedngly well distributed, and large
| number Of stocks show gains between
/ and points.
The most notable feature of the trading
IN this department was the tendency 70
| turn 20 the middle and low-priced stocks,
While the hgn-priced and established
| diyiden1-paying stocks were almost uni
vrfsally left quescent. In fact not few
| o this grade show material losses. The
| low return at present dividend rates
made by the high-grade railroad stocks,
| and the prospect of coming dividends or
increased dividends In lower-sra1e Is
! sues owing TO the continued increase IN
railroad earnings, were the motives OF
J this development in speculation me
common stocks Of recognized companies
which have other stocks ahead on theh,
whose dividend claims are PROVIDED lor
in an accumulating surplus OF earnings
were the favorites. Some Of the South
ern and Southwestern stocks, which have
had recent large advances. were neld
back by realizing. With the exceptions
noted strength was well distributed
through the different railroad groups.
Net gains of points or upward are
shown by Baltimore and ONO, Erle, 1lTst
preferred. Hooking Valley. Northern Pa1
cfic. Fort Worth, and RIO Grande' anu
Chicago and Eastern Illinois. 81. PAU
and Duluth rose an extreme points.
LONDON \ BUYER.
A much more cheerful sentiment was
reflected from foreign stock markets To-
day, and London was buyer on Dali
ance i'm this market.
The bond market was active and strong,
and dealings were fairly well distributed
amongst the speculative bonds Iotd,
sales. ZOO. 900. United States IS declined
&c. in the bid price. -, .,.or.
The total sales Of stocks to-day We're
756 600 shares. including Atchison, lIuo;
Atchison, preferred, 1911; Chesapeaks
and Ohio, 5.925; Rock Island, $3.50; Denver
and Rio Grande, 1880; Erie, nrst pre-
ferred. $500; Illinois central , 30; tto
7 90: Reading. $500; Reading, first prefer
red q go; Missouri, Kansas and Texas
< 400. Missouri. Kansas and Texas, pre-
ferred 1850: Missouri Pacific, SS,C5y, Nor,
1X,h 'r preferred 1850; Northern Pa
cific. 500 Northern Pacihc, preIerrsI'
ZOO: st. Paul, 1878; Southern PaciI INC,
37l5; Southern Railway. preferred u,5zV'
Texas and B2clllc. offFNt Aitt'iA
o. ga. Union Pacific, preferred, COZ;
71GTb preferred sOiO; Wisconsin Cen en-
traI $3.50: American Cotton-Ol. $40;
American Tobacco, III 45o; B SIC, ,ra
Rapid Transit COCO; Contlnental 10
barco u 40. Continental Tobacco prefer
red pSi'V S.s 30: peoples Gas, 5000 Sugar
20 go; Tennessee Coal and Iron 500;
United States Leather, @'NO' Ihiteu
states Leather, preferred, 2Sio.
MONEY AND EXCHANGE.
Money on call steady at 2ik43 per cent;
last loan at 2l9 pei cent; prime mercah-
| tile paper 4LQ5 per cent.
Sterling exchange firm, with actual busi-
ness i'm bankers bills at si.Yp2qAs6si LOT
demand. and S4SA G$4S3l2 for sixty days;
posted rates, SAsGqSiSl1s; commerce."
bills. SiSGi2. .,,.o~ roach
Mexican dollars, 477s.
Government bonds weak STATE DonuS
inactive. Railroad bonds strong
.faf aun