Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-05-09
STOCKS DECLINE.
DISAPPOINTMENT AT BANK STATE
MENT STILL CoLORs SENTIMENT.
MARKET FEYERISH all DAY.
Talk Of Tremendous New Steel Com
binatiOn Causes Cncasincss-ster-
ling Exchange steady and Money
Decidedly Easier.

NEW YORK, May s.-Liquidation was
quite general in the stock market to-day,
and material declines prevailed. There
was no news of any Importance, and dis
appointment at the bad showing OF the
bank statement on Saturday seemed to
color speculative sentiment. Sterling ex-
change was about steady, and money de-
cidedly easier. Such rallies as took place
were feeble, and In each Instance brought
out further sales, leaving the market. at
the end. weak at about the lowest for the
railways, although some of the special
ties. in the late selling movement, retain
ed part of the advantage derived on the
afternoon rally. Arbitrage brokers pur-
chased some 10000 shares during the fore
Moons weakness.
The market continued feverish, practi-
caly all day. There was forced liquida-
ton of marginal accounts by commission
houses. Some important interests let go
stocks. on the assumption that rather
large responsibilities have been taken by
certain underwriting syndicates. tne tam :,
OF the formation oil a new steer trust,
with a tremendous capitalization, causeu
uneasiness in some quarters. resul,ine ~,
declines OF over points III aai i
shares. and over 2 in American steer anu
boih western and local account, Brook
lyn Transit losing SA. Peoples Gas GA
and Atchison, preferred, IA
THE RAILWAYS.
The tenor of the crop advices was con
nictinc but the Changers receueu SIM.
ly. Burlington losing over points "n ~
81 Paul and Northwest ABOUT naIi al
much Among the Coalers, Delaware aiii
Uudson and Jersey Central were uoWi,,
over a point each, and New YORK Sen ~; =
suffered "A loss OF pa In conhectlUh WIZ
its unfavorable showing Tor Aprii ,hi E9'i Is
pared with last year, ailhousn -, ~
nartlv expIainable by the earlier daIe d
n,hicb navigation opened last year. Other
weak spots in the railways were ba ~,
more and Ohio. Pennsylvania, olroh IA
cific. Cleveland. Cincinnati, Ihicaso s ",,s
81. Louis; Northern facihc' ana "iS'0''
sugar and Lead were among the neavy
Industrials. Amalgamated copper sdssS -
on tho "curb." which caused Anac .'i,
Mining to be without suppors. Oni ,n,t y
Electric which rose over po'i', n,orlSet' !
cnnsnicuous exception TO the Hiai h0'
"T The deposit of 100000 In warrants RANT
apainst the Sub-Treasury in iocal pam, ,s,
which is managing the t irfe5't 20 be thu
cause of the easter tone In money, as III
oneration had not been eHpecteu "''
later in the week.
Standard Oil, 49od'is5.
THE BOND MARKET.
Some sharp declines were eneclea u, =,
So1, in active bonds but the higher-srdu'
ISSUES only receded moderately. looa
sales. S2.7j0O0D. United states new .
registered, and the old AS, coupon az
yanced II. and the new Us, coupVh' '''
old SIS. and the 3's, Is In the pld prlSS,;o 70, M.
The total sales of stocks were i,lVlv'
shares including Atchison, $3.50; the pre-
tered SO $50; Chicago, Burlington am
Quincy, $780, Louisville ana NasnV ,lro
II 10: Manhattan. 3O,3lO; Reading, LIST pre-
fsrred 1925: Missouri Pacific, 1850; New
York Central, $40; Northern Paciic, ~,
s}0. Northern Pacific, preferred, Ito; oii
tario and Western, 100; Rock Island, a.
| Sso. Union Pacific, IL $50; st. Paul, 5i,Uo
Sonthern Pacific. 1880: Southern Railway
3 0sO: Southern Railway, preferred, y'o-o
Union Pacific. preferred, l4,5lO; American
Steel and Wire, 1880; Federal steel r %,
go. Federal Steel preferred. ZI,ozo' 80 go
nIe's Gas. 34.620; Consolidated Gas, o,foo
Colorado Fuel, 500; BrookiEn Inc
| Isl sS5: Continental Tobacco, 2',loo; Pacll,
Mail, 7,s25; Sugar, 4i,iSo; tennessee >oai
40: Rubber, $3.50.
MONEY AND EXCHANGE.
Money on call steady at 2l3d4A pc
| cent; last loan, 3i2 per cent; prime mer
camille paper 3En4l4 per cent. .,,o
hnsiness in bankers bills at ASlAnA.Sll
| for demand and %&hnASl2 for sixt.
davs. Posted rates, $780, and SlSSt2; com
mercial bills. siSil2usiS.
Silver certificates, 6lisnb2c. bar silver
| 61ssc. Mexican dollars, 4Si2c.
| Government bonds strong. state bona
| drmer. Railroad bonds weak.