Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-06-08
STOCKS DRIFTING.
A MIDSUMMER LAssfTUDE HANGS
OVER THE MARKET.
BURST OF ANIMATION At The END.
Dividend on Sugar Causes Realizing
in Tint stock, hut Recovery soon
visions Little Changed.

NEW YORK, June IA midsummer
lassitude hung over the stock market
through the greater part OF the day, and
trading drifted aimlessly In the doldrums.
But the hot weather does not deter the
ever-watcRful eye OF capital from avail
ing Itself OF opportunities. The burst Of
animation in the last hour OF to-day's
stock market indicated that Wall street
was not SO dead as all the earlier appear
ances gave reason TO suppose. Specula-
ton was almost at a standstill during
the morning session. even the professional
traders waiting for action on the Sugar
dividend and also on that of Atchison,
preferred.
SUGAR.
The aimless drifting of Sugar certln-
cafes prior 10 the announcement OF the
dividend and the smallness of the trans
actions seemed to indicate that the spec
ulative community was wholly at sea
as 10 what the action of the directors
would be. The price dropped below last
night after the opening advance, but re-
covered sharply some points before the
news became known. The announcement
of the regular dividend caused realizing
and a drop Of 2 points. The shorts were
so eager 10 cover that the decline was
checked almost Immediately. and a sub
requent recovery amounted TO about .
points. The declaration of the regular
dividend has by no means converted all
of the bears, who still argue dire effects
from the trade war. The declaration of
IA per cent on Atchison, preferred, was
the more potent influence in putting up
prices in the latter part of the day, though
the effect must be regarded as surprising
~ small. considering the recent activity
OF the bears on the doubts they expressed
that dividend would be forthcoming
on this stock.
DEMAND FOR GRANGERS.
There was a large demand fo- the
Changers, which advanced prices In the
group 1 to IL points. whieh advance
spread to other points In the railroad
list. Fort Worth and Rio Grande was
marked up points, and the New YORK
municipal stocks rose sharply. STOCKS
which have been recent favorjtes In Lon
don such as Anaconda and the Southern
Railway stocks, hung back under the IN
fiuence OF depression In London on &c
count of the unconcllatofy attitude OF
President Kruger. The IRON and steel
stocks also hung back, Steel and Wire
dropping at one time points on pub
lished doubts of a forthcoming dividend
Railroad bonds hardened in price,in sym
pathy with stocks, but business was not
on a large scale. Total sales, par value,
81, 100000 United States 3's declined is
in the bid price.
The total sales OF stocks were 3sj.GO
shares. including 46135 Atchison, pre-
ferred 1900 Chicago. Burlington and
Quincy: $3.50 Manhattan: $500 Rock Is
land; 1910 st. Paul 53,9S2 American Steel
and Wire: Ii. $50 Federal Steel; 1000 Peo-
pies Gas; 81 ,l54 Brooklyn Rapid transit:
1855 Sugar; 9,420 Tennessee Coal ana
Iron.
MONEY AND EXCHANGE.
Money on call steady at 242 IL per
cent: last loan al per cent: prime mer-
camille paper. 1-414 per cent
Sterling exchange steady. with actual
business I'm bankers bills at ASS for de-
mand and s4.S5 3-4dSi.s6 for sixty days;
posted rates. 1856 1-2uS4S and AS9; COM
mercial bills. si.s5mA.S5 ~.
Silver certificates. 6lM62c. Bar silver
co lac. Mexican dollars, rs lac.
Government bonds weak. State bonds
inactive. Railroad bonds firm.