Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-06-29
STOCKS CLOSE FIRM.
THIS AFTER A DAY OF MUCH IR-
REGULARITY.
NET ADVANCES GENERALLY SMALL.
RALLY Mt the End, After Depression,
Does Not Bring Prices Hack 10 Top
LcveI-Wheat &c. Highcr-Oats and
Provisions Advance.

NEW YORK, Jure 2s-An effort wa.
made TO repeat the demonstration o.
strength in the stock market. which wa!
given by the outburst OF activity anC
strength which carried prices to the
highest in the closing dealings yester-
day. but with only partial success. Man
haitian was rushed up TO final quota
ton of 1l9 10 which was 3 IA above
last nights price, as New York Central
was rushed up late yesterday. The
sympathetic effect on the general list
was far below that of the New York
Central movement. Decidedly the most
significant feature OF the days trading
was the cessation Of the upward move
ment in New York Central and affiliated
| stocks. There was an active opening
in the stock. caused by the accumulation
of cOmmission-house orders, which were
attracted by the recent strong upward
movement OF the stock. II was advanced
early in the day almost point The de-
mand was evidently satisfied for the time
being and the movement lacked snap.
The price was allowed to lag.
NET ADVANCES SMALL
There was various factors OF strength
in the days developments which prevent
ed a break i'm the price of railroad stocks,
but there was obvious profit-taking at
some points. and the days net advances
are small, except in a few cases The
rally at the close did not bring prices
back to the top level.
The most potent influence in favor Of
the bulls was the favorable disposition
manifested toward American securities in
the London market. This was in face OF
tendency to dulness and depression IN
the general market here. The takings FOR
London account in this market were es-
timated at 5000 shares or upwards OF
various stocks. The demand was most
eager for Louisville and Nashville. which
rose nearly 2 points, on the London de-
mand Various rumors were In circula-
ton of an approaching increase in the
dividend rate to account for the rise.
SOUTHERN RAILWAY STRONG.
Southern railway preferred was strong
I'm sympathy The effect of the London
buying was shown in a drop In the ac-
tual rate for demand sterling to 4S7 II,
thus precluding the likelihood of further
gold exports at the present time.
The local money market also remained
steady, in spite of the activity OF specu-
lation in the stock market. Statements
of railroad earnings, which were received
during the day, continued the extraor-
dinarily favorable showing.
The cash demand for wheat, and the
buying for export, were sustaining FACTORS
In the Granger group, even though
decline in the heavy Northwest receipts
was reported to have set in. In view
of these continued strong features In the
situation, an effort was made to shift the
speculative activity into the lower grade
of railroad stocks, when 1t was seen
that New York Central had become
quiescent and profits were being taken
elsewhere. Southern and western rail-
roads stocks were the favorites.
THE TOBACCO COMPANIES.
Finally. the Industrial stocks, which
had been entirely neglected, were taken
in hand for a rise, under the encourage
mnt of the strength manifested by Sugar
and American Tobacco. They proved
rather heavy to lift, and dropped off In
the last hour, Continental Tobacco and
Federal Steel being especially weak.
The frmness at the close was on short
covering induced by the final squirt In
Manhattan.
Railroad bonds were moderately active
and strong. Total sales, par value, s.
$4,000. United States 9's, coupon, de-
clned Ia in the bid price.
TOTAL SALES.
The total sales of stocks were 562,1Oo
shares. including Atchison, preferred
2O550: Chesapeake and Ohio, 15,3JO; Bur
lington. $3.50; Cleveland. Cincinnati Chi
cago and St. Louis, 600; Louisville
and Nashville. 1880; Manhattan, $3.50;
Metropolitan Street Railway, 1850; Read
Ing. LIST preferred, $500. Missouri Pacihc,
6.35O: New York Central, 20,GsO; Northern
Pacific. 5000 Rock Island, $3.50; Union
Pacific. 1860; do, preferred, $3.50; St
Paul. Is. 800; Southern Railway, preferred,
OH. American Steel and Wire, $500;
American Tobacco, G.42O; Federal Steel
$3.50; Peoples Gas, $3.50; Brooklyn, S5,430;
Continental Tobacco. 7i95; Silver Ger
tihcates. 1900; Sugar, $3.50; Tennessee
Coal and Iron, $3.50; Chicago Great West
ern. 800
MONEY AND EXCHANGE.
Money on call steady. at 2d2 "a per
cent; last loan at 2S-4; prime mercantile
paper. 3Q3 "a per cent.
Sterling exchange easy, with actual
business in bankers bills at A.S7 la
A.SS-4 for demand, and $iS l-2n$4.S 81
for sixty days; posted rates. AS60A6
and s48qAS9; commercial bills, AS5q
"a So Ia
silver certificates. 6O1-2d62. Bar silver.
COLI. Mexican dollars, as 10
Government bonds easier. state bonds
inactive. Railroad bonds strong.