Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-08-30
STOCKS CLOSE WEAK.
THIS THE RESULT OF BEAR At
TACks IN LATE DEALINGS.
BOND MARKET RATHER QUIET.
Price Changes IrreguIar-Rutcs for
Time-Money Apparently Firmcr--
Wheat Weak, But substantially
UncbauRed--Other Markets

NEW YORK, August q Prices in
many prominent railroad stocks show
losses OF per share and Upwards. as a
result OF the days trading. There was a
disposition in the early hours Of the day
TO contest the decline and the EFFORT was
assisted by several strong features IN
the list. But the persistent heaviness Of
railroad stocks. and the manifest exhaus-
ton Of the buying demand. discouraged
the bulls. and turned the scale in favor
Of the bears. Stocks IN which manpula-
ton by pools had been recently evident
showed lack of support. Conspicuous I'm
this class We're Louisville and Nash lille.
Northern Pacific: Atchlson. preferred;
Baltimore and Ohio, and Norfolk and
Western. Several of the minor stocks
which have been under recent manipul1-
ton also suffered considerably.
Some opposition to the early heavlness
resulted from an active demand for the
Republic Steel stocks. on the strength Of
yesterdays declaration OF a dividend on
the preferred stock and semi-ofiical init
nations Of very large earnings aNdllable
for the common. The common dvanced
at one time IN and the preferred per
cent Steel and Wire ges also marked
up. on predictions tnat the Listing com
mittee of the stock Exchange were as
posed 10 admit IL TO the Listed Depart
ment These two factors impaired hrm-
ness 10 the Iron ana steel group, win
the exception of Tennessee Coal and CoiO-
redo Fuel
In the railroad list the Chicago Great
Western STOCKS showed continued
strength. the preferred Is rising 4 points.
In the local traction stocks Brookiy 2
Transit was lifted quite aggressiVely, ana
Metropolitan Street Railway ana MAN
| haitian showed sympathy.
PRICES DRIFT AWAY.
There came d covering movement after
| a sharp fall, and Sugar showed strength.
! But these elements Of strength We're
quite insufficient 10 induce renewal al
I buying In the general list on any large
scale, anu the prices continued TO drift
away under dribblng offerings
The declaration OF a = per cent semi
| annual dividend on Union PACING, pre-
| ferred, stiffened that stock. and caused a
momentary check In the downward move
| ment, but when the bears perceived the
} continued heaW.ness they attacked the
| market ~ the late dealings. making the
| closing active aud weak at about the low
! est.
( The weakness on foreign stock markets
/ on account OF the acuteness Of The
/ Transvaal crisis. was an influential factor
/ IN the days weakness. LondOn's sales
! here were estimated at 5000 shares, GOV
/ eriEg The entire list of international
! stocks.
The fall Of fraction in the actual rates
/ FOR STERLING exchange, ia the face OF this
! liquidation from London. caused renewed
| uneaainess over tne local money situa-
! ton. Of which II was a reflection. Rates
for time money were apparently frmer
aud no call loans were made below
! per cent.
! The bond market was rather quiet, and
| price changes were irregular. Total "a Les
par value. 81 $4,000. United States Gov.
| eminent bonds were unchanged on bid
| quotations.
The total sales Of stocks were 1886
| shares. including Atchison. 1910; Atchi
| son. preferred. 1850; Chicago Great West
! ern 5.G25: Rock Island. $3.50; Louisville
| and Nashville 1880. Manhattan, l0.I5O
| Missouri. Kansas and Texas, preferred
| 9i75. Reading first preferred. HWD; 81
! Paul. l3l 40; Southern Pacific. $3.50. UnioI
! Pacific. 1880: Union Pacific. preferred
I6i,O. American Steel and Wire b,4lO
American Tobacco. $3.50, continental To
bacco. 4. 40; Continental Tobacco, prefer
red. 1850; Sugar. l4.tjO
MONEY AND EXCHANGE.
Money ON call steady az 2lzG3 per cent.
last loan AT 3 per cent; prime mercantH
paper, 400 per cent. -, ...
STEERING exchange firmer, Win actut
business in bankers bills at SLs6i+ 4 s.. 81
for demand, and yl-3 lttt sig Ior SIX
days: posted rates, stelHHtot' cOilin''
cial bills Sis2i2. . ill.,
SILVER certificates. 59l4aD. Bar silver
5g.h Mexican dollars, rs
Government bonds steady. state bona
firm Railroad bonds Irregular
IN