Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-08-01
STOCKS DEPRESSED.
4 RALLY LATE, HOWEVER, AND
THE CLOSE Il STRONG.
TIE YELLOW FEVER OUTBREAK.
II Has Its Eject ON All Railways
Likely tn Suffer from Epidemic,
and Subsequent Quarantincs-The
Produce Markets.

NEW YORK, July 3l.-There were n
number CT depressing influences brought
to bear on the stock market to-day, and
prices opened lower but later there was
a rally and the close was strong. Most
conspicuous Of the depressing influences
was the reported outbreak OF yellow-feyer
at the Hampton (Va) Soldiers Home.
The group Of railroads liable 10 suffer
from a yellow-fever epidemic, and suisse
quent guarantees nave been favortes in
the recent speculation, and especially on
the part Of London. A setback TO them,
therefore, was calculated to have a far
reaching influence in the general list
Louisville and Nashville did, in fact open
down II. and the Norfolk and Western
stocks, Southern railway, and Chesapeake
and Ohio were also depressed, and ruled
below Saturdays level all day only fully
recovering in the late dealings. The eX-
hibit Of the Associated Banks In the
Saturday statement. also had some unIa-
vorable influence in the early dealings
a decrease Of nearly l2000 tons in the
east-bOund shipments OF freight from chi
cagO, as compared with last weeks move
ment, had rather hating effect on ran
roads.
The effect Of these combined influences
was 10 turn the tide of speculation at
first from the railroads into the Indus
trials. The stocks of iron and steel COM
panies were quite largely bought, but
the earliest strength was confined 10 a
few Of them, Federal Steel. Tennessee
Coal and Iron, Steel and Wire and Amer
lean Smelling being exceptions to the
carly strength. Later. the entire group
was affected, gains ranging from ] 10 -
the latter in Pressed Steel Car American
Vm-Plate, American Hoop. American Car
and Foundry, and American Smelling, all
sharing In the movement. The tobacco
stocks were strong and Peoples Gas
hs Il lpr rot ton rF 0
quarterly dividend. There was an early
depression in Sugar, on q report Of addi-
tlonai competition I'm prospect. and when
this stock rallied strongly 2W from the
low point. the last evidence OF weakness
was disSiaatcd.
The strength and activity OF railroad
stocks was much augmented I'm the late
dealings, very heavy blocks being alb
sorbed. There was continued buying of
Southern Pacific and Central Pacific,
which gained about points each. North
ern Pacific, Union Pacific. Atchison ST.
Louis, and San Francisco rose l point
each. There was quite a bit of strength
in Lackawanna, which moved upward >
points.
STERLING EXCHANGE WEAK.
Sterling exchange was notably weak.
actual rates dropping i and posted rates
y. There was an abundance of CONNER
cial bills in the market for future de-
livery against exports. and the bankers
sold short bills against these. This ana
the continued bidding for commercial
paper on behalf Of outside capital tended
to relieve anxiety on the money question.
There was considerable selling Of the
bonds OF the Southwestern railways,
which lost something I'm price. Otherwise,
bond prices were unchanged or higher.
Total sales. par value $2,37i00O. United
States 2s and Ss. coupon, advanced Il in
the bid price.
The total sales Of stocks were $50 9G0
shares including AtchisOn, preferred, TO-
40: Central Pacific, $50; Chicago. Bur
lington and Quincy, 114Sl; Rock Island.
1925; Lackawanna 74S6; Louis vile and
Nashville, 1905: Missouri Pacific, 1890;
Norfolk and Western, preferred. boo;
Northern Pacific, IS. $50; Ontario and West
ern SOS; Pennsylvania, 6OGO; Reading.
LIST preferred 9525; ST. Louis and South
western. preferred. 5.225: st. Paul, 1000:
Southern Pacific $3.50 Southern railway.
preferred 900; Union Pacific. 1I2JO:
American Hoop. 6o50; American Steel and
Wire, 15.775; American Tin Plate, 1850:
American Tobacco, $685. Brooklyn
raj Steel, preferred. 5,497; North American.
II 400; Peoples Gas. 1920: Pressed Steel
Car, H,7s5; Sugar. 4O,465; Tennessee Coal,
10, $3.50.
MONEY AND EXCHANGE.
Money on call, 3l404 per cent; last loan.
at 81 per cent; prime mercantile paper,
3Md4A per cent.
Sterling exchange weak, with actual
business in bankers bills at S4SGi5QSl $50
tor demand and $iShdAS3ia for sixty
days; posted rates. ASBdA.Sj and $LSlaD
ASS; commercial bills. StS21kQ$fS3.
Silver certificates. G0i2u6l. Bar silver,
CO.'S. Mexican dollars. IS.
Government bonds strong. State bonds
UqfTreaG Iopde