Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-08-08
SPECIALTIES REACT.
STOCK TRANSACTIONS TEND MAIN
LY TOWARD REALIZATION.
TOBACCO SUFFERS SUCH.
Continental Tobacco and Tennessee
Coal Also Afccted-Attitudc Of
Wheat Dull and Lower.

NEW YORK, August 7.-To-day's stock
market was largely professional. and
seemed TO move i'm response to the closing
out Of speculative accounts, rather than
from any new venture. a group Of spe-
cialtics which were lifted last week re-
acted sharply on proft-taking. while those
that had been raided by the bears last
week tended towards recovery. The to-
bacco stocks and Tennessee were the
most acute sufferers on the realizing. Ten
nessee Coal dropped an extreme of "a.
The Continental Tobacco stocks and the
securities Of companies directly or indi-
rectly I'm the steel trade were also az
fected. There was a continued upward
movement i'm Kansas City, Pittsburg, and
Gulf, the extreme advance reaching AZ.
This stock became feverish in the laIe
trading. and closed with a net gain of
ia. The announcement of the purchase
OF receivers certificates by the reorgani-
zation company may have had something
to do with the strength.
Support was manifest In the Wisconsin
Central issues. and the Pittsburg, Chi
cagO, Cincinnati and st. Louis stocks
closed 1q2 points higher, respectively. on
the day. There was a strong upward
movement in Northern Pacific, the ex-
trcme rise reaching ~. This induced bear
covering in Union Pacific, resulting In all
advance OF "A point in that stock. the
Smelling stocks were very firm, and in the
late dealings New York Central was lift
cd y, Oh the good showing Of July earn
ings. while Pennsylvania moved a point
in the opposite direction. Lackawanna
and Paper dropped 21s each.
ATTITUDE A WAITING ONE.
most part. waiting one, and there was
no severe pressure to sell, notwithstand-
ing the low state OF reserves shown by
Saturdays bank statement
Money continued in fair supply at
per cent The bank holiday I'm London
left no means of gaugns the money
market there. but the advance from Az
TO Of the German Imperial Bank rate
Of discount reflected the process OF the
drawing in Of credits TO the London cen
tire. This did not prevent a fall Of an
additional fraction in the rates for ster-
ling exchange In New York.
There was no sign Of acute apprehen-
sion over the money outlook in the stock
market. but attention Is keenly centered
on the money resources OF outside do
nestle centres. with a view to estimating
the demands which will be made on New
York for moving the crops.
Kansas city, Plttsburg and Gulf lists
rose ( per cent. on heavy purchases. and
market was dull and heavy. Total
sales. par value, 81. 400 United states
new Fs advanced y per cent. I'm the bid
price.
TOTAL SALES. $4,000 SHARES.
The total sales OF stocks were $4,000
shares, including AtchisOn. preferred,
1880: Chicago. Burlington and quincy,
HISS; Rock Island $50; Kansas City,
Pittsburg and Gulf. 1850: Manhattan,
$50; Missouri Pacific. $50; Northern
Pacific, 1850; Pennsylvania $50: St.
Paul. 1850; Union Pacific, preferred,
GOJO: Wisconsin Central. 500; American
Steel and Wire. 600; American Tobacco,
q. i3O: Anaconda Mining. l0OS0; Brooklyn
Rapid Transit. 2l.000; Colorado Fuel and
Iron. 500: Continental Tobacco, 1881;
Peoples Gas. $3.50; Sugar, 20l20.
MONEY AND EXCHANGE.
Money on call. Sisg4 per cent; last loan
az ga per cent; prime mercantile paper,
f0iat per cent.
Sterling exchange heavy. with actual
business i'm bankers bills az A.S7sG$l3
for demand. and $685. d4S2a for sixty
DAYS; posted rates. $4Signt4Sf and $3.50
A.s7ie. commercial bills. SIS0NsLSOi2
Silver certificates 60l2u6l. Bar silver,
6pd6l. Mexican dollars 49,
Government bonds. firm. State bonds,
inactive. Railroad bonds. heavy.