Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-08-16
BEARS IN EVIDENCE.
THEY COME OFF. TOO, WITH FLY
ING COLOWs.
SHARP RISE IN TOBACCO, HOWEVER.
IL Moves Up strongly, in the Very
Face Of the Dcnr Raid, to Nearly
Top Figures-Produce md Other
Markets.

NEW YORK, August 1.-THE bear ele-
ment was I'm evidence all day In the stock
market. and came of with flying colors.
II made q vigorous attack in the morning
and by o'clock seemed TO have ex-
hausted its efforts. The average level Of
prices, including the majority Of standard
stocks. rose at that time to the best
prices Of the day. In sympathy with the
sensational advance in Tobacco. In the
last half hour Of the trading the bears
concentrated a heavy assault on Brook
Ign Rapid Transit. They drove that stock
TO 1OSiR, and effectually broke the market.
successfully overriding all efforts TO sup
port values The Industrial specialties
suffered most severely. and the reaction
I'm the railroads reached a point in only
few cases. \ few Of the railroad stocks
which had shown early strength succeeded
I'm retaining net gains.
In the list of Industrials outside Of the
Tobacco stocks not a single stock OF I'M
pOrtance retained any net gain Amerl-
can steel and Wire was under pressure
early in the day, on account OF dIsap
pOintment over puDllshed Slat'iugHt
purporting to give the financial condltloh
and the earnings Of the company. Dut tne
stock had recovered all but q OF the
early loss when il was again attached
and fell. with Brooklyn Transit, 10 me
low uoint OF the day-3is below last night.
All the iron and steel stocks were anect-
ed i'm sympathy, and Tennessee Coal
dropped an extreme Sl2'. ana cioseu az az
last nights price, after having Deeh -
above in the morning. People Gas aisO
showed keen sympathy with BroOhIyn
Transit. and lost an extreme Z1s. Susar
was a sufferer. and was knocked down
Sia points. A., lou, mint
~ small. except for Brooklyn Transit
and steel and Wire. and there was Il
quick and violent rally in Sugar, People
Gas. and Tennessee Coal, on Iush -
cover by the shorts. Brooklyn transsll .
nor loss is rs and steel and Wire 8
noints Manhattan was very weak, In
sympathy with BROOKLYN Transit IN tne
,orl1, dealings but fl rallied quite strong
ly, and loses but l-S net.
MOVEMENT OF THE DAY.
The most conspicuous movement Of the
day was that Of American Tobacco. ne
stock reacted 81 before the late rald
ON BROOKLYN Transit, but moved UP
strongly. i'm the very face OF the pear
raid. to near the top tgures. Inc uHy
takings Of the stock were on an enormous
scale and its net gain IS points. ~.
Continental Tobacco stock was strong III
sympathy. .....
There was q notable upward movement
in Iowa Central stocks, on tax OF heavy
earnings They show net gains OF anu
. rs respecdN ely. Colorado Midland, pre-
ferred is ND nearly a point. There was
period of strength also FOR Kansas ana
Texas. preferred and Southern and Cen
trail Pacific. but their gains were almost
wiped out in a late decline.
The boldness Of the bears was due 10
a conviction that since the MARIE le-
fused 20 90 up yesterday, on the much
improved conditions of the local money
market. nothing else II in sight likely 70
give an upward movement 10 prices. Inc
recent activity Of various pools, when
have taken on heavy lines Of various
stocks in spite Of the general apathy OF
una market. also make the market Vulne-
rable TO det rmiued attack.
4 jump in the Berlin discount rate to-
Cav Of y per cent, and the hardening
tendency of London discounts, had de-
pr ssing effect
Rourse. but the course of events In France
arouses anxiety all over the financial
"'''U CALL MONEY EASIER.
Call money worked easier in New York
but there is still q belief that the money
thus placed will be needed soon In othet
channels The creation OF large snort
interest Of course, has ngthened the
technical condition Of the stock market.
Where was heavy realizing IN Kansas
and Texas seconds. Kansas city, PITS
burg and Gulf frsts. after erratic Fata-
=
changes generally were small ana irregu-
lar. Total sales, par value, $2,soiUD. Gov
eminent bonds were unchanged. 1000,
The total sales Of stocks were 6lZ !"
shares. including Atch.son, preferred IL
oi0. Chicago Great Western, 600 Cnlcaso'
warrington and Quincy, $500; Iowa Cen
raj 902i; do. preferred. 1i,llO; Louisville
and Nashville. $3.50; Manhattan, A,lgO'
Missouri pacific, 5,40O; Northern Pacinc'
6i2o: Reading. LIST preferred; S,auv 81,
paul. SlCO; Southern Pacific 2o.2oo Union
peci6c $3.50: American Smelling LsSfo'
American steel and Wire. 3l25l; american
Tobacco e5.S75: Peoples Gas. 2l,Sooi sugar;
II g25. Tennessee Coal, liS'oi thteu
States Leather, 1920.
MONEY AND EXCHANGE.
Money on call steady at 2ls@S per cent;
last loan.at per cent; prime mercantile
Sterling exchange steady. with actual
business I'm bankers bills at ASaS sos
for demand. and As2lsa4 @% for sixty
davs. posted rates, A.Si@QASl ana $4S'V
Sf S7ii commercial bills, S.Ae.
Siiye, certificates, GOlzubli.. Bar SILVER
coz Niexican dollars. ~.
fovernment bonds steady. state pohus
,nactive Railroad bonds irregular.
80, york stock Quotations.