Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-06-09
A BEAR ATTACK
THE RESULT Is SOME RECEssIONs
IN STOCK PRICES.
TOBACCO SECURITIES ADVANCE
western ana Southwestern Railway
Stocks Nearly All Rise Over a
Point-Wheat Depressed and 5-Sc.
LOwer-Provisions Decline.

NEW YORK, June s.-The market took
on the appearance of vitality and strength
which are associated with a bull market
at one period during the day, but the
inevitable professional realizing seemed
to take the snap out of IT. and when the
bears perceived that the buying was not
renewed with any eagerness. even alter
the realizing offerings had ceased, they
attacked the market In the last hair hour
and worked some very material recessioas
in prices, Sugar, metropolitan, anu
Brooklyn Transit closed more than
points below the high level, though re-
tanning still good net advances In price
a number OF the specialties and promi-
nent railroads also had a point or more
taken from top prices.
A long list of important stocks opened
at unchanged prices, and no stock in the
list showed a change of as much as
point in the early transactions. Ii was
evident that there was large bear party
in Sugar still unconvinced by yesterday s
dividend declarations, and they undertook
TO force down the price of that very I'M
certain security BY the time IL had fallen
points. however the decline met resist
ance of a kind which ii was not In the
power of the bears TO overcome. Their
experience during the remainder of the
daV not an agreeable one, anu tilS
heavy blocks absorbed at the high Level
were convincing evidence of their DIS
tress. The advance in the price OF reilned
sugars. which was acquiesced In py all
interests in the trade. seemed 10 Drihg
home TO the bears that the competition
could not be of a very destructive char
acter. and that the opposing interests
might be fairly regarded as Installed IN
the position of insiders regarding STOCK
market manoeuvres.
THE TOBACCOES ADVANCE.
The very buoyant tone of Brooklyn
Manhattan added TO the discontinue OF
the bears Later in the day, the To-
bacco stocks took up the advance.
Yesterdays dividend declaration OF
lating effect on that stock, as well as
those OF all grain-carrying ROADS. Inc
western and southwestern stocks nearly
all rose over point, and pretty muCh the
pathy, the only laggard being few
southern roads, which were affected by
selling for London account.
The announcement of further ship
ment of s., 10000 gold on Saturday, making
a total of 50, 5000 on the movement, was
without influence In the market.
The market for bonds showed improved
strength and an increased volume OF deal
ings as the day progressed Total SAFES,
50, S20cOO. United States rs advanced u
The total sales Of stocks were 125,SO
shares. including Atchison, preferred.
1850; Burlington, S5.7A; Louisville and
Nashville, $500; Manhattan, 22.5o0; Me-
tropolitan. S.l2j; Mexican Central. 6,lOo;
Reading, first preferred $3.50; New York
Central. 1915; Missouri Pacific. 1875; on
tariO and Western, 2i7JO Northern Pa
cifc, 1900; Rock Island, 1860; Union Pa
cinc. 1900: Union Pacific. preferred. 5000;
St Paul. $3.50 American Steel, 2i,gS5; To.
baccO. 20.17O; Federal Steel. 20.9O0, Federal
Steel. preferred. 4l.37S: Peoples Gas, 1i,6O;
Continental Tobacco, 1850 Continental
Tobacco. preferred. Si00; Brooklyn Tran
sit, 9499; Sugar, SO,455.
MONEY AND EXCHANGE.
Money on call steady at 2G2ia per cent. (;
last lOap at per cent: prime mercantile
paper, STAT per cent.
Sterling exchange easy, with actual bus
mess in bankers bills at $tS1Md$t@ for
demand. and AS249AS6 for sixty days.
Posted rates, siS61s0s4S7 and SiS9; COM
mercial bills, ASLQSLSi2
silver certificates, Glu62c. Bar silver,
6OAc. Mexican dollars. 4SAc.
Government bonds firm. State bonds in
active. Railroad bonds strong.