Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-06-10
SLAUGHTER In SUGAR
STOCK MARKET NEVERTHELESS
UsirVRMLY STRONG THROUGHOUT.
RAID ON CONTINENTAL TOBACCO.
Bears Succeed I'm Lowering the Price
Three POints-Wheat Dull and
LOwer-COrn and Oats and PrOvis-
ions Declined.

NEW YORK, June 9.-Late this after
noon occurred one of those slaughters OF
the innocents around the Sugar post on
the floor OF the Stock Exchange, which
have come to be looked for as periodical
Incidents For weeks there have been
direful predictions that the end OF Sugar
as a dominating factor in the refining
industry was at hand; that the fight OF
its lie was on it's hands. and that a sus-
pension Of dividends was imminent, TO
carry on the war, and all sorts Of other
disastrous predictions. Gentlemen sup
posed to be Versed in the inside affairs
Of the company have either been silent,
with an expression Of sadness, or have
freely admitted their convictions OF the
truth OF the worst that could be said.
Many persons attracted by the prevailing
high level of Sugar. considering these
conditions have sold very literally, with
The expectation OF buying back when
the collapse came. a great many OIL
these bought their stock 70 cover SNORT
contracts to-day at d level nearly ~
POINTS above chat 70 which the olrelui
predictions had carried 1t. inside inter-
ests became averse 10 selling, and neld
out tenaciously for the higher price. ms
exciting and painful Incident cioscd q
day OF Uniform strength Throughout 'He
market for securities.
The action OF the market was very
similar 10 that Of yesterday, the carry
strength centrinS in the New aOfh
Traction stocks and the Changers
BEAR RAID on TOBACCO.
The bears made an Intellectual attempt
10 check the advance by raidlng G0Wll
continental Tobacco over 3 points. Ihey
urned Sugar backwards some l12 points
also. but without marked effect on the
general list. Later there Was redn5lns
N the New York Traction group, WIN
reactions OF about point, but the VlsO-
rous strength developed by the '-oalers
again turned the market upward. Inc
same thing happened in the last hour,
when the professionals took prOilts III
sugar and the Traction stocks, 49,. on
The recovery began Ia some or the oD-
cure stocks, Des Mcines and Fort DodS5
Using si4: Consolidated Gas, 8 points, ana
the Wisconsin Central new issues, ZuL12
Peoples Gas and steel and WIRE also
| came into the advance .ater' me ldtIS =,
ON a published opinion by director Ut
favor OF a dividend on the common STOCK
Then came the rush in sugar, which maze
the last prices the highest Of the day In
net gam I'm Sugar Is SIS; IN Broohiy !
TRANSIT. nearly points IN Metr0 ,}on
ooints. i'm the Coalers. from ~ in Della
,vare and Hudson and New Jersey Cen
! ira. to ~ in LackaWanna; III tht
| Ci~9ngers from lGl12; in many STANDARD
stocks point or over.
RAILROAD BONDS HIGHER.
The market for railroad bonds wa:
rather more active to-day, ana price.
| tended inward. There was very ldrE'
/ buving of the Reading and Colorau'
! southern issues. Total sales par FaluG
| 3l35.C00. United States IS advances 2
| b,u he SIS declined Is IN the old price.
| Tre total sales of stocks To-Day WI W.T.
| s5s 500 shares. including 3lOSl Atchlsol
! preferred: . 30 Chicago. Burlington : az y.
| Quincy: $50 Delaware and western 80; 90
| Manhattan: 1920 metropolitan StreS
| PoilwaV: q $50 Reading. nrSt preIeIrSeu o
| 925 Missouri Pacific; SCl Northerh "a
| cifc. T COO ontario and western ~ ~,
| TIisso,rj Kansas and Texas: oUO ! MO i,
! Pacific: G.256 Union Pacific, preieIreG' o.
| ioG 81 paul: 37.350 American steel an
| Ve;ro. % 785 Federal Steel. 64.3i5 BrooKlyl
RAPID Transit 106,72) Sugar 0'-'' i'uO
DE- MONEY AND EXCHANGE.
Money on call steady at 2n4,s per cent.
last loan at 2l2 per cent; prime mercah
| lie paper, Si4Q4 per cont ,.i.h o.t,,a
Sterling exchange easier, WIN az 1919 e.1
business in bankers bills al zheifsaSi;;s.
| TO- demand. and S4&tsp 4.s5a Tor s.%J
! daye Posted rates SLSP21$l.S' ana Si'eS
! numerical bills, $iSl. -.
silver certificates. oOQo2c. Bar sHNe'
! costr Mexican dollars, 4si2c.
| government bonds irregular. stat
/ t,ctfvo Railroad bonds strong.