The times. [volume] (Richmond, Va.) 1890-1903, 1900-08-07
STOCK MARKET
WAS MORE ACTIVE
Early Strength Dissipated Before the
Close of Day.
CONSIDERABLE LossEsTHE RULE
The Early Movement Was Particular
Notable in the Pacifics-Bonds
Were Dull aud the Price
Movement Very Slight.
CONSIDERABLE LOSSES THE RULE
Dy Associated Press.)

NEW YORK, Aug. 6.-The early dear
Ings IN the stock market showed sur
Sival of last weeks strength, but 1t gave
way in face of the days developments.
and the market yielded whatever gains
had been established.
The final prices measured in compare
son with the high level of the day sho"
considerable losses as the general tuic'
The early movement was especially iiola
bic In the Pacifics. Northern Pacihc Tar
ing the lead on the theory that It's ptlce
was not commensurate with the iere "
Union Pacific and Missouri Pacific. O: dVn.
Pacific also continued firm. Reading iiisl
preferred was taken in quite alsc
amounts on the superstition that the diE-
idend rate would be increased at to-day
meeting. The stock fell back y" when
the declaration Of the same rate OF dlFl-
dend as the last was announced.
Sugar weakened on the report OF me
shading of several grades Of soft sugar.
which was take. TO indicate a renewal OF
competition in the trade. The more cheer
iEi feeling regarding the Iron and steer
stocks which has been in evidence 1oT
some time past lifted prices in that
group. Colorado Fuel was prominent
Preferred stock was bid to i2o, at which
price 100 shares changed hands The bid
price was then further advanced TO ia =
without bringing out stock; rms STOCK
cent. In back dividend. The movement Is
supposed TO foreShadow the payment OF
an instalnent of the arrcarage OF diVl-
uenG- IhS steel group weakened III lile
later trading. Accounts from PittsburS
OF the extensions by the Carnegie look
ing TO incorporation with some OF the
new combinations affected some of the
group, especially Federal Steel and Steel
and Wire.
The more serious phase developed in
the Chinese question had some erect
upon The market, although the London
Exchange was closed, and the influence
OF the day could not be measured
Preparations for export OF gold on
"Wednesday were reported. although no
definite announcement was made. Ster-
ling exchange rose an additional 1rac-
ton. but still falls short of Il shade OF
what has been regarded as the export
point TO London.
The subscriptions in New York to the
new issue OF British ExcheqUer bonds
are generally regarded as the immediate
cause Of the outward movement 1t is
evident that these subscriptions would
not necessarily demand an outward move
ment OF gold as the country very large
credits abroad would be ample 10 cover
the subscriptions. but the urgent need OF
the London money market tor gold may
have led 10 some special provision that
the underwriting syndicate should pro-
vide that metal in payment OF the bonds
There is large demand for the bonds,
a. matter OF course. in view OF the TACT
that American railroad bonds of high
grade are finding their way home by
every steamer. and foreign railroads and
industrial securities are not in favor with
American capital, owing to the declining
tendency OF earnings abroad. Rumors as
TO the effect on the money market has
crystaliZed in the conviction that no
serious strain would result.
The bond market continued at q. very
low ebb OF activity. and the movement
Of prices was slight Total sales. par
value, $4,000 United States old As de-
ciined Il IN. The bid price.
Total stock saIesswere 800 shares.
MONEY AND EXCHANGE.-Mon on
cali easy at 1AMil. per cent: last loan
at IL per cent; prime mercantile paper,
ga, per cent. Sterling exchange firm
with actual business in bankers bills at
81 ssh for demand and at 81. S4i4 for sixty
days; posted rates. S4.SJG4.S515 and 81 50;
commercial bills. 81. S3l4 s74.SSB. Silver
certificates, GI1a@62la; bar silver, CO.'S
Mexican dollars. 49,. Government bonds