Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-08-18
STOCKS MORE ACTIVE
MARKET ALSO SHOWS GREATLY
INCREASED STRENGTH.
LEADING MOVEMENT In RAILWAYS.
Southern Group Among the shares
which Are the Centre of interest
Wheat, Corn, and Oats Higher
Provisions Unchanged.

NEW YORK. August 1.-THE stock
market showed greatly increased ao-
tivity and strength to-day. The strength
was somewhat better diffused than has
recently been the case, but the heaviest
demand was still confined 20 a small num-
Der OF stocks. The majority of the In
dustrial stocks were listless and lower.
This was notably the case with the Iron
and Steel stocks. except Tennessee Coal,
which has regained 2 points Of its decline.
The bears were disposed to continue the
contest early in the day, and handled
Tobacco stocks and Sugar rather severe
~ but even in these the bear campaign
showed convincing evidence Of exhaustion
before the day was over. Sugar ruled
above last nights level during the latter
part Of the day. and closed with a net
gain of IA. American Tobacco regained
its earlier losses, and Brooklyn Rapid
Transit, though rather feverisb at times.
was higher all day.
SOUTHERN RAILWAYS PROMINENT.
The characteristic movement Of the day
was in the railroads. The southern
group and the Southern and Central Pa
cifc stocks continued TO be the centre OF
strength. with some additions to the
former group over those which moved up
wards yesterday. Louisville was the
leader. and rose at one time nearly 3
points It's close being a small fraction
below that. Southern Railway, preferred,
continued strong, but Chesapeake and
Ohio Jagged. The Baltimore and Ohio
stocks came vigorously forward into the
movement, the common rising an extreme
he. cub
sequent fractional reaction. Norfolk
and Western, preferred, and Mobile and
Ohio, also shared I'm the strength. The
buying Of Southern Pacific was very
large. and evidently by powerful con-
certed movement The stock rose 2i2
and Central Pacific gained points.
There was an Isolated movement in the
Pittsburg, C., G. and st. Louis stocks,
the preferred rising points to 100, with
a subsequent reaction Of ~. the common
rising Ia and losing the fraction.
Railroad stocks generally are higher,
The gains reaching point In only a few
cases. The Changers, Atchison pre-
ferred. and Pennsylvania were conspicu-
Gus. Northwestern gained ~
EASIER LONDON MARKET.
The leading indication Of the more
cheerful feeling regarding the values &C
securities was the easier condition OF the
London money market. as disclosed by
the weekly statement of the Bank Of Eng
land. The rate for money fell appreciabiy
i'm London to-day, but still rules above
the bank rate. The bank continued to buy
gold to-day, and to import IT from Ger
many, and the probability is that If the
private discount rate should fall below
the bank rate. that institution would
again borrow from the market, in order
to stiffen rates But the sentimental ef-
feet on the New York stock market was
very marked, as increased confidence was
felt that gold might be Withdrawn from
London TO New York, in case of higher
money rates here, without upsetting the
foreign stock markets. The large increase
in St. Paurs earnings for the second
week I'm August, In spite OF the falling
of in the grain movement was an en-
couraging factor
The bond market did not share IN the
increased activity OF stocks, and changes
there were small and mixed Total sales
par value. $l.97000. United states old as
coupon. advanced 4, and the Us Is in
the bid price.
TOTAL SALES.
The total sales of stocks to-day were
Go 100 shares, including Atkinson, B,4lO;
Atchison. preferred. 36.l26; Baltimore and
Ohio. 1850; Contra, Pacific, 1850; Chica-
go. burlington and quincy. 6,6l0; Louis
VILE and Nashville, 3,720, Manhattan
L.. 800: New York Central, 1920; Nor
folk and Western preferred, 600; North
ern Pacific. 1850; Pennsylvania, 800; -.
Louis ana SOutnWtSttfh' prtleIIc o'Vyv'
ST Paul. 900; Southern Pacific. "a. $500;
Southern Railway. 1928; Southern Rail-
way, preferred. $3.50; Union Pacific, 9,7S5;
American Steel and Wire, 100; American
Tobacco. $3.50; Brooklyn Transit, $3.50;
Continental Tobacco, 1885; Continental
Tobacco. preferred. $50; sugar 40: idz;
Tennessee Coal and Iron, $500: United
States Leather, 1925.
MONEY AND EXCHANGE.
Money on call steady at 2lAQ3 per cent;
last loan at p. per cent; prime mercan-
tile paper 44d5 per cent.
Sterling exchange steady with actual
business In bankers bills al AShGSi sb1a
for demand and $4s2AaA.8 for sixty
days. posted rates, S48iR0SiA and S4Gp
Si1Is; commercial bills. A.s2qA.Sl5..
Silver certificates COigd6lls. Bar silver,
cos. Mexican dollars, 4S.
Government bonds strong. state bonds
inactive. Railroad bonds duh.