The times. [volume] (Richmond, Va.) 1890-1903, 1900-08-29
EARLY DEC lNlE
WAS CHECKED.
Blu, Only Temporarily by Demand
From the Shorts.
MARKET CONTINUED NARROW.
Prices Dropped Again in the Final
Dealings and the Close Was Heavy
aud Letharsic-Prices OF
Bonds We're Irregular.
MARKET CONTINUED NARROW.
by Associated Press /,

NEW YORK. Aug. 2S.-The accumula-
0on OF q snort interest during the steady
decline. Which had continued for rather
more than week, offered an opportunity
Today Tor a turn by the bulls against the
Gear interest. The demand from shorts
proved sufficient to check the declining
tendency. which was in evidence in the
carly dealings, and to bring prices back
10 about last nights level. There the
recovery stopped and prices dropped
again in the final dealings, making the
close heavy and lethargic.
The market continued exceedingly mar
row and the volume of dealings fell be-
low yesterdays 2G0,U0G share level me
bulls found material for their brief turn
IN the railroad earnings reported for the
day, In a reversal of the discourag1ns
Tenor OF Yesterdays ru7nors regarding the
sugar trade and in the declaration OF a
se1ni-annual dividend of . per cent. on
The preferred stock of Chicago. Indianapo-
dis and Louisville. The bulls made the
most of the incident and put the pre-
Tered stocks up AZ points, and common
~ There was continued pressure
against sugar in the opening dealings,
but the stock rallied 1:B on a correction
IN the European sugar cables, showing
a rise instead of a decline in the price of
raw sugars. This was taken to show that
American reiineTs were again in the
market as purchasers of raw sugar, and
TO indicate that the season Of active
business for refining would extend be-
y
Rumors were circulated that in conse-
quence the dividend on sugar would be
increased. but the demand for sugar GER
tlficates satisfied with the covering
of the short interest, and the stock
closed with gain Of only Is. The
statement of July for the Atchison sys-
temp was also made the most of by the
bulls. Net earnings increased more than
one-t1ird over those for last year. not
withstanding a slight increase in operat-
ing expenses, compared with a decrease
in operating expenses for several months
past. The Anthracite coaIers showed
some heaviness. American Hoop pre-
ferred weakened Sharply. but the Iron
and Steel stocks generally were pretty
steady on the favorable reports of trade
outlook. Brooklyn Transit advanced on
covering, but eased off at the last.
There We're wide movements in a few
individual stocks, which We're unexplained
by any news.
The money market continued to be in
1uenced by the redemption of United
States Extended IS. and by some receipts
OF gold from the Pacific Coast. Rates
We're not quotatly changed. Discount
rates hardened In London, while sterling
exchange. nevertheless, continued easy, as
was the case yesterday. This contradic-
tory movement caused some puzzled con-
lecture in exchange circles. The volume
of merchandise exports from New York
OF Si3. $50 for The week. an increase
of S6.2II,963 over last week, may offer
the explanation
There was no feature in the bond
market. and the price movement contin-
ued irregular. Total sales, par value
e5i5.oon United States As declined per
cent. in the bid price.
The total sales of stocks were 1851 100
shares.
MONEY AND ENCHa NGE.-Money on
call easy at 1A9lll4 per cent; prime mer-
camille papers, 49i!l2 per cent Sterling
exchange easy. with actual business in
bankers bills at S4.S71a for demand and
at SI.S3:sGi.S4 for sixty days; posted
rates, s.. S5GlI.S,1. and s.. SSl5Gi4. 50: com
mercial bills. $4.S3AM4. Ssh. Bar silver,
GiIs; silver certificates, 6ila6lG2ta; Mexi-
can dollars, 1875. Government bonds
weak; State bonds inactive; railroad
5 bonds irregular