Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-05-07
STOCKS STILL WEAK.
BANK STATEMENT MORE UNFAvOR-
ABLE THAN WAS EXPECTED.
SPECULATION VERY FEYERISH.
No Important News Influences Save
Possible European Complications
over Trnnsvanl ATairs-W heat
stronger and Higher.

NEW YORK. May 6-The weakness
which peryaded the stock market to-day
was accentuated by bank statemen.
much more unfavorable than was ex-
pected The surplus reserve fell off over
100000. and the loan account showed
the largest expansion this year, increasing
over 100000. Speculation was very
feverish. with no important news influ-
enccs. save some agitation over the pos
sibiity Of European complication over
Transvaal affairs. London figured very
slightly in the days transactions.
The expressed opinion of certain rail-
road officials that some decrease I'm gross
earnings for May might be expected in
duced selling Of the Changers, and they
showed average declines OF over a point
The Coalers were weak, the maximum de-
cline being that of Reading, preferred 2is.
The iron and steel shares were also weak.
Federal Steel and American Steel and
Wire being off about IL each. Manhat-
tan. Brooklyn Transit, and Metropolitan
Street Railway declined about a poin-
The decline of over points in Anaconda
was sympathetic with the weakness for
the "when-issued" certificates of the
Amalgamated Copper Company on "the
curb"
Consolidated Gas. which gained 10
points being about the only feature Of
strength in the list. was bought because
OF rumored withdrawal OF the reduction
In price by another company. but it was
asserted positively that the reduced rates
would be maintained, and that no change
I'm the gas situation had been effected.
THE CLOSE WEAK.
Tho fCphiepasc ~ rolIifc opI Tho coon,
ing absence of inside support discouraged
many holders. who threw over long stock,
and the market closed weak.
The bond market during the week did
not fully reflect the extensive liquidation
IN stocks. many issues showing consider
able strength. Prices in the main shaded
Off irregularly, with business contracting
on sales. United States 3's, registered,
advanced S-S, and do coupon and the new
As. coupon. Is in bid price The SIS, reg
istered lost is per cent.
The total sales Of stocks to-day were
1850 shares. including $3.50 Atchison,
preferred l2,tl5 Chicago, burlington and
Quincy; Hl25 Manhattan: 1000 Missouri
Pacific: 5.s25 New York Central: 64O0
Northern Pacific 10 $50 Rock Island: G.2i5
Union Pacific; 1l.425 American Steel and
Wire; H.H5 Federal Steel; 1920 People s
Gas; $3.50 Consolidated Gas; % IA Brook
Ign Rapid Transit. and 1910 Sugar.
Standard Oil. 49O0492.
MONEY AND EXCHANGE.
Money on call steady at { per cent.
prime mercantile paper, 1-2u4 Ia per
cent.
Sterling exchange steady. with actual
business i'm bankers bills at &G LA
$i.S7 IL for demand, and at 1856 LA
1876 l-2 for sixty days posted rates
! 81. SO 1-2GSlSS II; commercial bills
| $f& 1-2d$LS5.
Silver certificates, 81 1-iG62 Ia Bar ST.
yer. 81 Is Mexican dollars. As.
State bonds inactive. Railroad bonds ir-
regular Government bonds strong.
BANK STATEMENT.
The weekly bank statement shows the
| following changes:
Surplus reserve, decrease, $6,172,725.
Loans increase Sl666i,40O
Specie, decrease. N29,1OO.
Legal-tenders. decrease. s.. i35, 500
Deposits. increase. $1,000 100.
Circulation. decrease, $4,000.
The banks now hold SIS. 35l, $50 in excess
Of the requirements of the p per cent.
| rulo