The times. [volume] (Richmond, Va.) 1890-1903, 1899-07-12
THE WEAKNESS
DID NOT LAST.
The Stock Market Yesterday Demon
strated Its Inherent Strength.
LARGE NUMBER OF CALL LOANS.
The High Rate Being Ignorcd-Bonds
Rallied from Their Late Weak
ness In sympathy with Stocks
but are Lower.

N-r,vv work Julv LITTLE stock mar
ket strongly demonsuatee ~ ..t..' .. ~
strength again to-day, WIN "a PAL tii ".
poVcrv OF yesterday losses. CiOslus
r,riccs today were only slightly below
fhnsc OF Saturday. ana ia some cNttp-
tlonal cases sharply ABOVE Inc 90
conditions in which any chanhC nSI
fakcn niaoe were purely technical. 4hese
,.cre -ne elimination OF weakly mar
,-,r.a long account and the creation OF
q short interest. London began 70 sen
COZ. ln New York at the opening To-
dav as IN did yesterday, but instead OF
-. SIMON a largo account OF nearly
rvhauetcd margins, as was the case yes
fcrdav the opening decline invited Duy-
ing % cover the short contracts put out
Yesterday Thc buying from this source
anorded the principal support 10 the
market I'm the early dealings III Maa
parfIcuiarly marked in sugar ana lhc
New York traction and gas slocha,
which suffered most severely from DeaI
short interest had been covered the mar
kos came 10 standstill, the bulls appa-
reutly lacking courage 70 push lher aG-
vantage in face OF the continued SUM-
ness Of the money market. which heid
quite firmly about the legal rate OF can
money. Slightly before noon however q
determined buying movement tN'iVpc"
in the great trunk lines ana, WIN 49,
eional intervals Of dizziness continued lot
the rest OF the day, spreading nom we
gr0up TO another until 10 embraced Wtllt
Truch the whole list The agreement
among the trunk lines 90 restore Ia!Ss
ON grain TO the seanoaTd WI "iI"t ~
the cause of the origin OF the puyHls lIl
that group. ST. Pauls increase DID tI"SS
earnings for the first week or July or
S28 80 prompted the buying OF the
Tne hirh rate for call money was ig-
r0rod and very large amounts lodhto
on the Stock Exchange az per cent
The rate eascd OFT 70 4.2 p'I 80 - tb
time. hut rose AGAIN 20 % -, co.
demand apparently continuing large LOT
tho Increased supply available. interior
exchanges continued 90 run against New
York but Yesterday CONTRACTION on
loans had apparently left the New 1oIS
i,nuka in am easier position. demand
eterifrn I'm New York only held firm I'M
dor Inc stress of the high rate for money
fu London. but sterling exchange lh ieil9
and Berlin advanced sharply, ana us
counts were easier at those centres.
T.,no@ sterling I'm New ONrk weakened an
ADDITIONAL fraction under the sales or
fuf,lrcs based on the expected outward
movement of merchandise TO begin IN
short time. 20 ...o,,,..t,
in the iatc stock market were Texas ana
Pacific which rose 20 p ana latel .ne
whole southwestern group an a,I ~
had q Wmor Of q contemplate MY sue
of WaWbash and Missouri Paclhc 20 &C.
count for the strength Of those stoch9.
Northern Pacific also scored "a DIlAidu'
9s,.tnco recovering more than IT'S diNl-
dend. which was taken of to-day. Ihere
was "a simultaneous advance in lei li.,
500 Coal Colorado Fuel and American
Steel and Wire, which rose from 20
"a, and also Chesapeake ana ono
Cleyoland Cincinnati. Chicago ana 81
TouiR and axe Erie and western pre-
ferred After a fractional reaction ON
professional proht-taking, prices Were
marked up again TO near the best IN the
c'9sil.5 u,siiilI somevhat from the early
,,-asl,nose I'm sympathy with stocks, but
are generally slightly lower on the CAY;
Total sales par value, S2OSoWH Ihtr9
states new as registered declined "A ana
me old as registered D. I'm the bid price
irhe total sales of stocks to-day were
9eG.I}s shares, including Atchlson. o'Nol
do preferred, $40, Chesapeake ana
Ohio. 11. 500. Chicago. Burlington and
Quincy IA $50. Louisville ana NdshNlle
d seB. Manhattan, 3b1SJ, missouri la-
cidc. 500. New York Central 0N3,
Northern Pacific, eX-diVidend' iG9ln
Rock Isalnd. G125. Union Iaciic. ',ED'
81 pagr "a 400. Texas and Pacific, %
sp0. Wabash preferred I2@. AMERICAN
cfeeI and Wire 1000. American Toe
baooo. G74O. Federal steel '"io' BROOK
i'm Rapid Transit. ~ ice, sugar 100
Tennessee Coal and Iron, 300
MONEY AND FXCIIANGE.-Money on
car steady at 316 per cent? last loan az
4 per cent. prime mercantile paper 'nf
nor cent Sterling exchange heavy, WIN
1.tuaI business I'm bankers bills an ALNt
0tSTE for demand and at S4sdI Sbl2
rnr sixty days. posted rates. N4ei,.N
Z sHl5 and - sSQ4 ssh. commeIclal plils
e. e2iL silver certificates. @l0dl bar
&c. COZ. Ncxican dollars. 4ftt. Cow
eminent bonds easy. state bonds mac
tive. railroad bonds easy.