The times. [volume] (Richmond, Va.) 1890-1903, 1900-08-17
EARLY S1lRENG Til
WAS DISSIP TED.
Professional Traders Switched 10
Short Side Of Market.
RISE IN GALL MONEY Rate.
Prices steadily Rcccdcd and Closed
al the wcst-srausactions in
Bonds Tell OF and Market
Showed Irre.uiari,y.
tny Associated Press.l


NEW YORK, Aug. i6.-Early strength
2 IN the stock market to-day, inspired pg
the favorable London attitude ailc me
better complexion OF the Chinese Sftu..-
tloa was oiss;nated later on by reahZa-
aons by the room traders aiit! discuss49 II
OF the monetary future. rise IN citt-
money rates To ia per cent. causeu -
SERMONS ~ some quarters that -ssin ~
rate would result in the depletion OF ,ile
hank reserves by gold exports cPeis..-
lions by the banks thus Tar TINS "eeh
with The Spb-Treasary show z TOSS %
Sl.ia, titt. This can hardly bG CoinlFi-
stated through the interior currency
movement, and receipts OF gold rom q
cifc coast points. SO heavy loss IN casil
IS expected to be shown III the pa5ih
statement The weekly reports o. me
European governmental Institutions Were
scanned With interest in connection WIN
their ronienishnent OF resources from
here. Less than half of the recent snip
inents of upward Of siI,o0a,ooo was re-
Elected in the statement Bank OF
EnSlandS returns showed an increase OF
-, $4,000 in reserve and bullion increased
sa-.IJG.A -t. These acquisitions caused
more fberality to borrowers. and loans
increased $o.35y,o00 The bank gained on
balance to-day on bullion transactions
S::,.4l00t49. Its official rate OF discount
open market rate fell as.
The showing OF the Bank of France was
last week Gold holdings Increased only
S3oo0e, while loans were reduced d, e,'s S5,2.2l,-
925 and circulation sfrank $S,oGa.
As the prices Of stocks early, irlS.the
day was maintained with difficulty pro
1essional traders who have been instru-
mental in the week advance switched
over to the short side and let go their
holdings No increase in outside bust
ness was reported despite the apparent
stability of the early movement in rail-
road stocks. This factor Influenced short
sales by operators who consider the
yVI,iie there was but little energetic
selling in any quarter prices steadily re-
ceded and ended at the lowest. The
but few notable changes. Some wide
movements were made in q few Of the
specialues. 1zlta l,iy Sugar, Pacific Mail,
Rubber ard Consolidated Gas The lat
ter covered . range OF over points,
early strength being succeeded by fall,
and a final rally resulting on the an
nouncement that the stock was TO be re-
stored TO an $ per cent annual bass.
REPORTS of q severe cut in prices OF
structural steel by Independent concerns
impaired heayiness to- the steel group,
which was also felt with the general sell
ing of the Gay. Despite rumored deats
of the Baltimore and Ohio to absorb the
New Jersey Central Railroad, the latter
stock moved up a point at the outset
lonl later lost the gain -, &c
Transactions in bonds to-day fell off
slightly and the market showed irregu-
larity Total sales, par value, So5o,ooo.
United States Government issues were
x per cent. lower in the bid price.
The total sales of stocks to-day were
El;j,7S shares.
MONEY. AND NEUTRALITY-SUSPICIOUS. on
call at 1l5Gi8i per cent: last loan at IL
4per cent: prime mercantile paper, iGI3
per catoJstE fsEssi exc 9il ss Fy.tl
actual business EIsI1,a3s2h arsi iii.a ss 50 StF2
Tor demand and att7S4 = ','oF sixty DAYS
11nsted rates, S4.S5Tg4.SJts and Sl.SSl2Gl
4 50: commercial bills. 81 .S5asf5i. Si54. Sill
yer certificates. 6lIaoc2iA bar silver. 61:
.5exira;, dollars. 4Sl4 Recommendations
rvcals. State bonds steady; railroad bonds
irregular