Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-05-20
STOCK MARKET Says.
IT is ABANDONED ALMOST WHOLLY
TO PROFESSIONALS.
A SHARP DECLINE IN TOBACCO.
With IT Are Associated Rumors Re-
garding the Health OF n Member of
the Company-The Grains Lower
Provisions Advance.

the COmpany-The Grains Lower
Provisions Advance.
NEW YORK May lathe stock market
was abandoned almost wholly to profess
slonal traders on the floor Of the Ex-
change to-day. No outside demand Of i'm
portance was apparent at any point in
the list. Prices were marked up sharply
at the opening, on a demand from The
shorts, who sold the speclaltles yester-
day. Sugar Brooklyn Transit. and the
Flower group generally showed the
largest gains, the demand being obviously
from the short interests. Anaconda
Mining showed strength both in London
and here, which was well maintained
throughout the day. and the tone Of Man
haitian was also firm, without any pub
lished news to account for 1t.
The opening demand from the shorts
was soon satisfied, and prices slipped
away, but without any pressure TO sell
The dulness at the declines seemed 10
impress the professionals with the idea
that the reaction was over. and they
turned buyers again. marking prices up
But il became quickly evident that the
large bull interests which were actiVe
in the early week were not yet prepare ca
| TO resume operations. and the advance uiu
not hold. The absence Of any demand lor
stocks caused the traders 20 turn bears
again, and the market sagged and driltSd
| quite aimlessiy for the oalancS % ]l.o
| day The short sales by the traders Were
covered before the close, bringing pre-
| in great many cases back to about last
nights level.
DECLINE IN TOBACCO.
There was rather sharp decline IN
! Tobacco in the last hour, with Whlcn tne
| professionals associated ruInoss So
| pany. The large demand Tor ral1Iodu
| stocks which was manifest IN yesler-
| davis trading. was lacking to-day, anu
/ that department Of the market was very
dull. comparatively, but quite hrm al
The Grangers showed weakness which
| IS attributed to the continued rumors oil
! London bought a few stocks in this
| market but took no active part, oWIis
| to the pcnding holidays there. In spite
| of the small buying by LONDON StetIinH
| exchange hardened an addllonal I'dS'
| tion. the demand rate showing an au-
vance Of seven-eighths OF cent on w VIZ
pound since last week. Money cOhlihue eI
| easy and estimates Of tomorrow PAM
| statement are of large increase IN CAST
| reserves as the market has gained heaVl
| Nv from the Sub-Treasury on account "
the final payment TO the order OIL tiIt
| Spanish Government on MONDAY ~
| $500 600, and also by receipts llGni wy
| interior Reports from the interior are
| of large cash reserves on mana, ana
| steady demand for safe investment.
BOND MARKET.
The ~aIroad bond market continue
| 10 show a large investment demand Is
| Deciallv for recent TeOTe aniZatlOh ISSUES
| Very heavy individual blocks OF me me- i
| Baltimore and Ohio bonds and OF IN
| Wisconsin Central firsts were taken OF
| tho market There were some decline
i'm nrices late in the day, but the nrm
| ness at other points made the marke
| irregular. Total sales Sl,5tpUV' onitS
| States new As advanced d IN t1e Dl
= The total sales Of stocks were f56 ~
shares Including $3.50 Atchison, pre-
ferred: 600 Central Pacific; l4,l9o I'M
cago. Burlington and quincy z5,V'9 ~ " All ai
! haitian: 3O35 Metropolitan Street EalI
way: 10 .425 North American; tDlO Nort I
| ern Pacific: g. 200 Rock Island; 500 Unlo
| Pacific. 13.571 St. Paul; 1870 SOuIneI
Pacific 5000 American Steel ana WIRE
100 American Tobacco; $500 feop PIE
Gas: 77.1G0 Brooklyn Transit; gov CoN
tinental Tobacco; 58,o25 Sugar
MONEY AND EXCHANGE.
Money ON call steady at 2isdSls pc
cent. last loan at 3ia per cent; prlm
mercantile paper, 3l4dr4 per cent
Sterling exchange firm. with aStua
business in bankers bills az A.15s
AS72. for demand and A.Sl2gSAs9t &c 10
sixty days; posted rates; $hoo'S@'''o0'
commercial bills. $3.50 AS5. ill.,,
Silver certificates. 6ln6l@i; par sH'e'
co.,: Mexican dollars, 4S12. -,
| Government bonds frmer. State pond
firm. Railroad bonds irregular.
BANK CLEARINGS.
The bank clearings at the principi
cities Of the United states LOT Ine W.
ending Nav 18th were N,g9D3'Os' an II
crease of 43.S per cent Outside or Ne
York city the total was Sj5IVo5 10, an II
crease OF 204 per cent.
STOCK MARKET THE PAST WEEK
Bradstreet's review Of the, New for
stock market tomorrow VIII say;
Fx-GovernOr Flower had been the mos
conspicuous bull leader Tor me past wv
years. and the success when nad al
tended his operations in Peoples Gas
RocI; Island. New York Air-Brake, tede
raj steel. Brooklyn Rapid-Transit, an
other leading stocks, had given MN "a
influence with the speculative PUBIC uH
paralleied in the history OF vne nv
/ markets The entirely unexpected ne"
of his death. which awaited Wall stree
last saturday morning seemed TO man
the signal for a decided break IN IN
market. on tho other hand. II wa
ouicllly recognized that the large imam
cial Interests engaged in the marke
would be sure to prevent any serious DIS
aster. and though AT the opening o
Saturday morning a flood OF short seliin
and liquidation was met when carrie
PEOPLES Gas down from ll9 at the PR
| cedine nights close to lOl. Brookly
Ranid-Transit from 1l72i 10 100, and Fedt
raj steel from 6iH TO 3d. with correspond
ing declines in not only the tloWe
stocks. but in other parts OF the us
there was almost instantly shafp ram
RrolTers who are credited with acting fc
The Standard oil interest Mr.. Keene an
otber large operators had buying order
and nrices were advanced so that larg
mart of the early declines We're regalne'
The danger Of an outpouring or the Ion
stocks held by ee tbus aVerted and ii
iinuidation. If one was necessary, becan
a question of time.
STRONG SUPPORT.
Further assistance was given 10 ii
r,arket by the appearance Of an exec
icnt hank statement on Saturday. and
Tho assurance that the leading bans
would so far as II was proper for thel
20 do so. extend all needfui acconnio9'
, tfon TO stock-market borrowers. 1t ais
anneared that the late Mr.. Flower ha
no large speculative holdings, that II
arr, of which he was special partn'
would continue without change. ana thi
his associates were fully convinced OF u
, value of his property. They also recol
! rized that the larger interests OF n
!, street having various important deals
band like the Amalgamated Copper Con
bination subscription or the financing
!, the Carnegie steel Company. would NJ
and could not allow the market TO b.
1 SInnOrf