Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-05-24
STOCKS NEGLECTED..
PRICES DRIFT UNEAsrLY UP AND
DOWN,
CLOSE EASY, THOUGH RATHER DULL.
Net Losses shown In All but n Few
Cascs-Whcat, Corn, and Oats De-
cIfne-Pork and Ribs Slightly
HIgher-Lard Lower.

NEW YORK, May 23.-Neglect of the
Stock Exchange by the outside public
continued to be the marked feature of
the trading to-day and as is usual in a
narrow market, prices drifted uneaslly
up and down, following the erratic move
ments Of special stocks Dealings were
evidently almost wholly confined to the
professional element, who seek profits on
a days turn in prices. AS this class Of
traders watch pretty closely for what
other people are doing and proceed to do
hnewise, the net effect In a days bust
ness. or taking one day with another,
is not large.
Yesterdays late upward movement was
iOlowed by realizing this morning, and
later by sharp advance. which was prac-
tlCdlly wiped out before the close Sugar
Was the centre Of interest i'm the market
AID rebounded quite strongly from the
early pressure. together with the affiliated
glucose stocks. But realizing took off
all the early gain, and left It at the last
points below the highest and near the
low point Of the day. The early rise in
Sugar was accompanied by strong rally
IN the New York municipal stocks. Con-
solidated Gas. Manhattan. Brooklyn
Transit, and Metropolitan rising from TO
4 points.
RAILROAD STOCKS GAIN.
This concurrent movement I'm the lead
ing SDfcaitieS gave quite an appearance
of strength to the market for a time. and
railroad stocks gained I'm the upward
movement
Weakness IN wheat and especially the
reported selling from the Southwest,
helped his movement but the persistent
reports of insect damage and news from
abroad that American wheat was prac-
tically unstable at present prices help
ed 10 the late break in the Changers and
SOuthWesterns. There was a growth of
uneasiness also over the persistent hard
ching tendency Of foreign exchange The
actual rate for demand sterling touched
4S "a to-day. which Is near the gold
export point The continuing ease in
money suggests that the method en-
pOyod to finance the Philippine payment
TO Spain has forced something of "A re-
dundancy in the local money market. re-
sulting i'm the rather artificial stiffness or
exchange rates. Exchange on Berlin also
hardened a fraction to-day. although that
money centre was reported 10 be buying
American stocks from London. The new
ly-fioated Industrial stocks continued
rather conspicuously weak Anaconda
broke 2 points. and i'm the outside market
AmalgAmated copper. lne payment ol
subscriptions for which was completed
yesterday. fell 10 par. which is the sub
scription price.
CLOSE EASY.
The closing of the Exchange was easy
in tone though rather dull. and showed
net losses in all but few cases.
There was "A good demand for some of
the reorganization I per cent. railroad
bonds. the Union Pacific and Northern
Pacific Is touching record prices. Total
sales. par value. S.74l,G00
United States Government bonds UNI
changed.
The total sales of stocks were III 100
shares. including $3.50 Atchison. prefer
red ll.72j Burlington; ll.76) Manhattan;
9 as Metropolitan Street Railway; 5,ll0
Missouri Pacific: 6l50 Northern Pacific.
8 900 81. Paul: 60jO American Steel and
Wire: 1850 Federal Steel; $3.50 PEOPLES
Gas: %. AS Brooklyn Transit. and $3.50
Sugar.
MONEY AND EXCHANGE.
Money on call steady at 3G5l2 per cent;
last loan at per cent; prime mercantile
paper. 31RM41t per cent.
Sterling exchange firm. with actual
business in bankers bills at A.HainsiS
for demand. and $iSj2pAS5%, for sixty
DAYS: posted rates N.SSi2 and $i.So12; COM
mercial bills As5dN&la
Silver certificates. coz. Ear silver 6lA'
Mexican dollars. 1872.
Government bonds steady. state bonds
inactive Railway bonds strong.
In.