Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-07-18
AN AlMLESS MARKET.
THE NEW YORK EXCHANGE WAS
DULL AND DOUBTFUL.
ONLY TRIVIAL NET CHANGES.
In the Latter Portion Of the Day n
DesuItory Covering Movement Re-
SDccinIties Depressed.

NEW YORK. july. 1.-THE stock market
to-day was an aimfess and insignificant
affair. except so far as the dulness ana
neglect We're significant Of the doubt felt
IN many minds over the money outlook.
Operations were strictly confined to pro-
fesslonal manipulation by the room
traderA This kind Of trading resulted In
only trivial net changes, most Of which
were on the side OF losses. The range
Of prices was quite wide during the day,
many stocks at one time rising a shade
over Saturday, and then dropping from
TO 2 points.
a DESULTORY COVERING MOVE.
MENT.
The latter part OF the DAY was devoted
60 n desultory covering movement, which
reclaimed most Of the early losses. Even
Brooklyn Transit, which was the centre
OF the days weakness. recovered to with
in Z Of Saturdays close. but yielded
sharply TO bear pressure In the final deal
inEs.
Labor troubles played n large part in the
days market Brooklyn Transit being
most conspicuOUsly affected by reason OF
! the strike amongst its employees. The
stocks opened off Ia, and Manhattan ana
Metropolitan straightway were keenIy
Z =
IA and the latter 3 points. Brooklyn
Transit was very vigorously supported
by inside interests, and quickly rallied
point, giving the short interest, when
is supposed 10 be large small opportunity
to cover. Later the stock fell an extreme
21L. when the news came that the street.
railway strike I'm Cleveland had been
renewed, as It was feared this might
presage general sympathetic strike
FLOWER SPECIALTIES DEPRESSED
Peoples Gas and Federal Steel. as be-
ing Flower specialties were depressed
| Federal steel dropping an extreme IA.
New York Air-Brake also broke l. points
and after vibrating wildly. scored full
recovery. American smelling moved up
wards on the decision of the Colorado
Supreme Court against the constitution
ality of the State S-hour law. the con-
hicting interpretations Of which led 20
the smeters strike. Tin-plate moved mp
on the wage-scale agreement. and tho ad-
vance in the price of the product.
AN ACTIVE SELLING MOVEMENT
The late weakness Of Brooklyn Transit
and a break I'm Sugar Of nearly points
| brought the most active selling move
ment Of the day. when net declines
! reached point i'm number OF cases, IN
! Guiding the Changers and AtchisOu, pre-
! ferred. and I'm New York Central reached
! 20 The failure Of call money TO weaken
! I'm spite Of Saturdays favorable bank
| statement. caused uneasiness regarding
! the future. Most Of the days loans We're
/ made at AZ per cent, and the rate weak
cned 20 per cent. only after most or
| the demand had been satisfied.
THE MARKETS WERE UNEASY.
Rumors Of financial difficulties N Len
! don caused doubt and hesitation IN all
/ the worlds great stock '2ar6e.s Inc
private discount rate there rose 10 ga
/ per cent, and demand sterling ana cables
/ here advanced u per cent.
There were very persistent rumors that
/ gold would 20 from New York this Wcek.
| Transactions in the local stock market
| for London account We're, however, lnsls-
uincant The absence Of any announce
| ment Of a gold shipment by tomorrow
! steamer was a factor in the late recovery
| of the market. which brought prices
! generally back 70 near Saturdays close
BONDS WERE DULL AND HEAVY.
The market for bonds was dull and
| heavy, in sympathy with stocks o.. Io ,'S
| sales. Sl.6jOOO0. United States IS ad-
vanced 4 and the old As, registered, =
in the bid price
The total sales Of stocks to-day were
| 3s71OO shares. including Atchison' pre-
| ferred. 2jl74: Burlington, 1SlJ: Manhat-
| Ian. 9i 10: Missouri Pacific 400; Jersey
| Central. $50; Northern PACING, 9ND'
| Rock Island. 700: Union Pacific. J.l5Q 81.
Paul. 1880: American Cotton OF, Gflo,
| Federal steel $50; Brooklyn Transit;
| G0e00; Sugar. 23l7O; Tennessee Coal ana
| Iron. 6gOD.
MONEY AND EXCHANGE
Nancy ON call steady at sffit2 per cent.
last loan at per cent; prime mercantile
paper, 3izap4 per cent. ,.,
sterling exchange firm, with actual
| business in bankers bills al S.NiznH6f9i
! Tor demand and al si.StaStSi2 LOT SHY
! 81 $50. commercial bills. SL8aSAH32.
silver certificates. GOa6l, bar silver, oAj
Mexican dollars. IS.
Government bonds firm State bohds