Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-09-08
STOCKS DEPRESSED.
MARKET AFFECTED BY WAR;
CLOUD IN SOUTH AFRICA.
TOBACCO FLUCTUsTES WIDELY.
4 Few shares Marked Up Early, In
Order 90 Resist the Decline, But
IL IL I'm Vnin-The Produce and
Other Markets.

NEW YORK, September 1.-The market
snccumbed 10 the combined influence or
a hardening rate for call money and the
depression Of the foreign stock markets
on account Of ths gathering war-cloud
In South Africa. A few Of the highly
speculative industrial specialtles were
marked up In the early dealings. and at
drferont times during the day. in an
effort TO resist the decline. The attempt
proved unequal TO overcoming the depres-
sion in the general list, and the manpu-
lative stocks in some cases finally weak
ehed, though a few retained net ad-
vance. Tennessee Coal and Iron was
marked up a point at the opening. but
that was the highest OF the day. Sugar
Tobacco. Brooklyn Traction Federal
Steel, and few other stocks among the
most prominent industrials vibrated both
above and below last nights prices. Pull
man was at one time up points, but
lost II all. The American Car stocks rose
2 points each. but the preferred receded
to the level at the opening. Pressed Steel
Car, preferred. advanced a point in the
closing deals.
The American Hoop stocks were strong
on reported large earnings, rising 3 for
the common and IL for the preferred.
st. Paul showed some resistance, but gave
way with the other Changers when inti-
nations were heard of opposition TO an
increase i'm the dividend rate on the part
of the directors. When the rate was
announced in the afternoon the stock
slumped nearly points. and broke the
whole market. The dividend rate still
continues at 2ls per cent.
Declines In the railroads are quite uni
formly between / and per cent, in
Guiding the prominent Changers. South
ern Pacifcs, Trunk Lines, and South
western railroads Stocks which haveshad
recent sharp advance show wide de-
clines. Colorado Fuel, Hooking Valley,
New Jersey Central, Northern Pacific,
and Republic Steel stocks and Tennes-
see Coal are instances, though the latter
stock recovered its decline.
MORO MONEY FOR THE SOUTH.
Money on call commanded per cent:
most Of the day. and went as high as b
per cent, with only a few exceptions be-
low per cent. There were further trans
fers to the South to-day, and the BANKS
are still losing on balance TO the interior.
The hardness Of money did not avail 70
lower the rate OF sterling exchange, I'm
view of the increase of discounts i'm Lon
don. which also had the effect Of raising
the rate OF sterling exchange IN Garls
and Berlin. LondOns sales of about 1000
shares of stocks here helped 10 keep up
the exchange rate.
Bonds showed a weakening tendency,
in sympathy with stocks. Kansas ana
Texas rs being notably affected. Total
sales, par value, Sl,52S.C0o United states
bonds were unchanged in bid quotations.
The total sales OF stocks to-day were
400 900 shares, Including Atchison, 800;
Atchson. preferred 1920; Burlington,
$50: Rock Island, $3.50; Louisville and
Nashville. 9,5e5: Manhattan. $50; Missou-
ri Pacific 500: Missouri, Kansas and
Texas. preferred, 62J0 Omaha and West
ern, 9 $50; Reading, 1st preferred, 1850;
ST. Paul. 1850; southern Pacific, 1879;
! Southern Railway, preferred. 5000; Union
| Pacific. II 40; Union Pacific, preferred,
10: American Steel Hoop, 1920; Ameri-
Steel Hoop preferred. 900; American
! Steel and Wire, q, 100; American Tobacco,
/ f7.3J0: Anaconda, 1863; Brooklyn Rapid
| Transit. IS 1872; Colorado Fuel and iron,
$3.50; Federal Steel. 100; Sugar. 1850;
! Tennessee Coal and Iron. lGi22; United
| States Leather 9O,4z5; Republic Iron and
/ Steel. 1900
MONEY AND EXCHANGE.
Money on call firm at 4a6 per cent;
last loan at AZ per cent; prime mercan-
tile paper, p4d5 per cent
sterling exchange steady, with actual
business I'm bankers bills at A@fsq
s. ST. for demand. and s ttn3L6's iOI
| sixty DAYS: posted rates, SiS and ASl2;
| commercial bills. SLS2is.
Silver certificates. lytJ3-lc. Bar silver,
| 81. Mexican dollars. AZ.
Government bonds steady. state bondS
Inactive. Railroad bonds weak.