Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-09-20
STOCKS BREAK AGAIN
AN APPARENT RECOVERY FOLLOW
ED by A DECIDED SLUMP.
RELIEF PROM The MONEY SCARE.



cate tension OF the speculative temner
was well Illustrated by the course 81
to-day's market. which seemed to be GO
ing prosperously on it's way toward re-
cuperation and recovery I'm prices until
the last half hour of the trading. After
that time prices were bowIed over in
every direction, like a set of ten-pins.
which had been set up simply to be
Knocked down again.
The selling movement was In fun force
when the market closed, and prices were
tehdlng rapidly downward. Some Of the
earlier gains were completely wiped out.
The market gave every appearance OF
having thrown off the incubus OF the
money scare. Reports from abroad of
more conciliatory attitude on the part OF
president Kruger, and the decision of the
french Government to pardon Dreyfus,
caused rally in the foreign markets.
Ihere. rs well as here, the short interest
| mad been largely over-extended and they
| round some difficulty I'm securing stocks
10 cover short contracts. Professional
! operators who had secured stocks at yes
! terday's low level had turned bulls. and
| there was a fair volume of buying orders
IN n. commission houses this morning at
tfacted by yesterdays late recovery in
/ prices. Prices were marked high at the
/ opening, and the trading was very active
1 for time. but on "A descending scale.
DEMAND FOR RAILROADS.
After prices were back TO near yester-
| days close demand of substantial
| character developed for standard railroad
stocks. Some OF the Specialties. notably
| the New York Traction stocks, which
| nave suffered recent violent losses, were
! marked up rapidly. Late In the day a
very buoyant tone carried the Coalers
hn .FT a.ly,
which advanced an extreme Of 1lk Other
/ members Of the group rose from 2ia to
! points. Metropolitan's extreme rise was
/ 6l2. Brooklyn Rapid Transit was up at
one time ~. Many other Specaltes were
! up between and points. and the active
| railroads very generally showed gains of
| from to ~
! Such was the state Of affairs when the
| traders began 10 take profits in the Coal
| ers and Metropolitan Street Railway. 1t
| did not take the bears long 10 wipe out
| all Of the gains in Brooklyn Rapid Tran
| SIT, and the course Of prices turned quick
ly downward. The selling movement
continued actively till the close.
MONEY-MARKET FEATURES.
The early advance I'm prices was accom-
panied by professions of confidence that
the money market difficulties had been
| passed. Call money ruled at per cent.
and above during the day. The banks are
| not losing quite as heavily as last week,
y
terror But the outward movement in
money Is more than sufficient to make
| inrOads upon the legal reserves of the
| banks. One Of the vagaries Of the situa-
| ton is that sterling exchange held steady
| to firm to-day with buying for London
account of over 1900 shares OF stocks,
while IL dropped sharply yesterday i'm
spite OF Londons selling over 1000 shares.
Competent authorities do not look for
gold imports much later In the fall
Bonds showed gains. and held better
than stocks I'm the late weakness. Total
sales, par value. 100000. United States
bonds were unchanged in bid quotations.
TOTAL SALES.
The total sales of stocks We're IA 600
shares. including Atchison. preferred Is
760; Burlington, 2i.1l0; Rock Island. 1O.3SO;
Delaware and Hudson. 5000; Delaware,
Lackawanna and Western. 1880; Louis
vile and Nashville, $40; Manhattan, 80
9S5: Metropolitan. 3i.T5: Jersey Central,
IS. 1873: New York Central. $3.50; Northern
Pacific. $3.50: Ontario and Western. 12.l25;
Pennsylvania. 800: st. Paul. 2S.l25; South
ern Pacific. 2S.720; Southern Railroad, pre-
ferred 6,525: Union Pacific. Hips; Union
Pacific. preferred. 1880; Western Union,
4 100: American Steel and Wire. 1910:
American Tobacco. 30S0 Brooklyn Rapid
Transit 120.520: Colorado Fuel and Iron,
14575: Continental Tobacco, 100: Federal
Steel II 9g5: Peoples Gas. u. 2GO; Sugar.
% 4S5; Tennessee Coal and Iron, 20,75;
United States Leather, 15,lD; do, prefer
red. $3.50.
MONEY AND EXCHANGE.
Money on call firm at Gd7 per cent;
last loan at 6; prime mercantile paper,
1915 per cent.
Sterling exchange steady. with actual
business In bankers bills at A@izdA.@4
for demand and $i.S2dA.S2h for sixty
DAYS: posted rates. a.&dA8ls and 4.Sls
MsiS7; commercial bills. AHQStSlA.
silver certificates. 59d59a,: bar silver,
IS lilo: Mexican dollars, Az.
Government bonds steady; State bonds
inactive; railroad bonds strong.