Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-06-27
STOCKS CLOSE EASY.
PRICES OF THE RAILROADS SHARP
LY BELOW THE BEST.
ACUTE Weakness IN TOBACCO.
Yielding In New York Traction Due
10 Rumor of Approaching Labor
TroubleNWhent ID
Hut Largely Receivers.

NEW YORK. June 26.-The opening Of
the stock market this morning showed a
Jump In prices and something like rush
to buy. which spread rapidly through the
whole railroad list. In due course of
time a number OF Industrials also took
on some show OF strength. When this
development became obvious, the rail-
roads paused In their advance, as though
TO shake OF the following Of Industrial
stocks Acute weakness I'm the local
Traction stocks. Steel and Wire, and the
Tobacco stocks, first checked the advance.
The railroads held firm for a time. but
before the day was over the bullish en-
thusiasm had somewhat expended Itself,
and the closing dealings showed rather
easy tone, with the prices OF the rail-
roads sharply below the best.
A movement in the Nanderbilts was by
far the most conspicuous OF the day, and
was, of course, based on the reported
lease Of the Boston and Albany by the
New York Central for term OF years.
The ramfications Of the Vanderbilt pro-
perties are so vast, and the possibilities
of consolidation so important, that
movement in these stocks rs always GER
tain TO have a stimulating effect on the
whole railroad list. and for the same rca-
son the Vanderbilt group Is very likely
10 be picked out for manipulation by ope-
rators for rise. AZ the floating supply
of these stocks is not large, such manipu-
lation is not so difficult as IL might seem.
New York Central was at one time to-
day up 3 points, but II lost point on
the failure of official confirmation or even
admission Of the correctness OF the BOs-
ton and Albany report This together
with further engagements OF gold for eX-
port, was the important influence in INC
reactionary tendency throughout the mar
ket.
Chicago and Northwestern, Omaha,
Union Pacific, and the oregon Snort Line
securities all responded sharply, in SYM
patty with New York Centrars strength.
APPROACHING LABOR TROUBLES.
The weakness of the New York Trac-
tion stocks to-day was due TO rumor OF
approaching labor troubles. Sugar and
few other speciaities showed carry airy.
strength, but the Industrials, with Few
exceptions yielded before the close.
Good reports of current railroad earn
ings. especially In the West and South
west. were factors in the strength OF rali-
roads Decreases in operating expenses OF
Southwestern railroads was feature OF
the May statements received the May
income of Atchison being increased by
this means to the extent of over S5ODV~.
St Paurs May statement, on the otheT
hand. showed the gross increase more
than swallowed up by the enlarged ope-
rating expenses.
Railroad bonds were generally frmer,
but the volume of business continued
rather small Total sales. par value.
81. S94, 900. United States 3's, coupon, adj
vanced IA in the bid price.
The total sales of stocks were 47J,GV
shares. including Atchison preferred, -
675: Burlington. 1880: Manhattan. 7,,@O;
Metropolitan. 1850; Reading. first prefer
red. 525O: New York Central. Y .5$5;
Northern Pacific. $500: Rock Island. 100;
Union Pacific, 1880; Union Pacific, pre-
ferred. 221S; St. Paul, 40.l6O; American
Steel and Wire. 17.4O0; American Tobac-
co. 1920 Federal Steel. $3.50; Peoples
Gas. j.22O; Brooklyn Rapid Transit. $3.50;
Continental Tobacco, 20.725: Sugar, $3.50.
MONEY AND EXCHANGE.
Money on call firm at 21-4a4 per cent;
last loan at per cent. mercantile paper,
3d3 81 per cent.
Sterling exchange easier, with actual
business in bankers bills at Si.S7 3-fdA.SS
for demand. and $4.S 3-4d$lS6 for sixty
DAYS: posted rates. 1886 1-2n$46 and AS;
commercial bills. S4S5 IL.
Silver certificates. 90 l-2n62. Bar silver,
60 IA. Mexican dollars. As IL.
Government bonds were firmer. state
bonds were Inactive. Railroad bonds were
firmer.