Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-03-03
STOCKS ARE WEAK.
THERE ~ 4 FAIRLY STEADY
CLOSE, HOWEVER.
AMERICAN TOBACCO GAINS 21-4.
This on Action OF Directors Pre-
1iminary to Absorption OF Union
COmpany-Whcat, Corn, and Oats
DecIinc-Provisions Advance.

NEW YORK, March THE stock mar
ket displayed weakness, particularly In
the Grangep Pacifcs, and Specialties
practically all day, with but incidental
rallies There was an appearance Of sup
port I'm certain stocks in the final dealings
which caused fairly steady close. al
though the Changers were stll under pres
sure. There was no news 70 account for
the decline, except for o frmer tone In
money. call rates touching 3is. which fact
is attributable to a call issued preliminary
to the settlement between The Central
Pacific railroad and the government. The
easier tone Of sterling exchange was an
accompaniment Of the frmer tone in
money, the idea being that an increased
demand for money might contract the
volume Of American funds now loaned
abroad. There were denials from bank
officials Of the current assertion that IN
due discrimination was being exercised
against industrial collateral Selling or
ders appeared from Boston ana Chicago
houses. During the attacks by the bears
the fact that many stop-loss orders acre
| covered accelerated the decline
| While the weakness affected pretty
much everything. especially heavy fea-
lures were Metropolitan, Jersey Central.
| Pacific Mail, Piusburg. cleveland. Gin
cinnot, Chicago and ST. Louis, Rubber,
and Brooklyn Transit American To-
bacco left off with a gain Of "a, on the
formal action Of the directors prelimi-
nary TO the absorption Of the Union To-
bacco Company.
BONDS BEAR Up WE'LL
The bond market to-day bore up re-
! markedly well. considering tho pres gre
| against stocks. some issues making an
aggressive show of strength particularly
! Louisville. Evansville. and St Louis 5's.
| which rose points. Atchison adjust
ments had good backing, and the ST.
| Louis Southwestern issues were better
supported than for some days. Opera
tionsG elsewhere were somewhat irregular,
but n ere were no conspicuous losses. out
side of Southern railroad Is and Stand
ard Rope income. The new Central Pa
cihc and Southern Pacific bond issues i'm
! connection with the rehabilitation of Cen
| trail Pacific road, We're dealt i'm to-day.
but ran off from tho high price. in SYM
pathy with the weakness of the stocks
The total sales of stocks were $L56jOo0.
| United States IS and SIS advanced Is I'm
the bid price.
| Total sales Of stocks were 707 so shares
| including u,30) Atchison 1850 Atchison
| preferred; l,J35 Central Pacific: 81 223 Chi
cago, Burlington and Quincy; SEQ Louis
| Vile and Nashville; I1Gj Manhattan; 1885
| Metropolitan Street Railway; 16 go Read
ing, first preferred. 5.72) Missouri Pacific;
200 Missouri, Kansas and Topeka; ESQ
| New York Central; 1870 Northern Pacific;
1909 Omaha and Western 1856 Rock
! Island; 13.0S Union Pacific; 1000 Union
Pacific preferred 29j ST. Paul; 1860
Southern Pacific; 63O2 Southern preferred;
| $3.50 Texas and Pacific; $40 American
| Spirits II 800 American Spirits preferred;
235i0 American Tobacco; N.i0J Bay state
| Gas: 235O0 Federal Steel. u 225 Federal
| Steel preferred, 1855 Peoples Gas; $3.50
Brooklyn Rapid Transit: 2i.6S0 Sugar; $3.50
Leather preferred; 500 United states
| Rubber.
Standard oil closed 4SGizG4S1k.
MONEY AND EXCHANGE.
Money on call nrmer at 2iaq3la; ,ast loan
at per cent; mercantile paper EASY
| per cent.
Sterling exchange easy, with actual bust
| ness in bankers bills, AZ SLSl Is for de-
mand and at $iS40A9 Ia for sixty days,
| posted rates. $LSreU$LS5 and $3.50 2g$i.S,
| commercial bills SlS3 l-+dSASSi2.
| Silver certificates nOminaily 59iz0GOi2c.
bar silver. 80 5-Sc., Mexican dollars, a a-6c.
Government bonds strong. State bonds