The times. [volume] (Richmond, Va.) 1890-1903, 1900-07-03
STOCK MARKET
SH0WEDS TRENGTH
And the Gains Made Were Maintained
in Most Instances.
The MOVEMENT PROFESSIONAL
In Anticipation OF Pressure for Rein
rcstnlcmt. Though News Off in
Spring Wheat Region Was
Factor in the Advance.
--

NEW YORK. July with the eHcea-
lion of brief period of depression al
The opening The stock market was con-
sistenQy strong throughout the day, ana
closed with gains well ih.i4lItd y, -
nearly All cases. While me sIenStn Ma2
pretty well dilIuSCd. the SFahSeiS anu
Pacitics were the leaders OF tile nc M -
both in point Of activity anu 81 S S VI, IA
The news OF rains, both Oh SulGa! aiiu
to-day, in the spring "l4t]'I $3.50 -" 80.
The nrincipaI factor in The ADVANCE rs
If WAS in the decline in the wheat lHl .i
Sct. The weekly statistics OF STS4i - d!itS
received from Chicago emphasized me
influence OF the news OF St"p 49, $3.50 :,
further increase OYER last Week > t'' -
and d sti:; tpp0 bushels were the largest lof
the corresponding week ia oyer IN t,- =,
with the exception OF last -. -, -.
which the falling OH was ABOUT - Pr Pc
cent The receipts a I'Iiiua. DO -
FhoWed only a, small deGiils u oIh ls,St
weeks aggregate. This served soiltN v NJ ~
to diScredlt The alarming reports pl nc
shorIucss of the wheat crop ne sup
tnomts east Of Chicago, both OF hour 'lit
grain. also showed good increase ii-S>S
Influences Offset the net earnings snow
Ing of May. The same causes were al
work in the case OF the LuuiSylle sifla
Nashville. net earnings OF which len on
j per cent. from last years Level, -NeNrI-
thCieSS. these stocks shared fully IN inc
days strength. The figures OF the iaISt
Juiy disbursement of dividends ard inter
the market. These are estimated NitTl-
uusly AT from 500, 0Oo.tS30 to Sl23,eoGVH
il is pointed out that large portion than
ever before OF these payments VIII re-
main in this country. owing to the large
buying Of American securities from 1or-
elEn holders during the past year. Inc
bidding mp of prices to-day represented
the effort by professionals TO anticipate
the coming pressure Tor reinVeStment- In
tact. the whole movement was largely III
professional hands, the advance being
Il ~
ness and with the obvious intention of
improving the level OF prices RATHER than
0t securing stocks as cheaply as possible
The steel stocks WATe strong III the
g:4r-iv dealings. in spite of the news of
continued decline in prices OF product and
the widespread closing down OF mills
pending an adjustment OF wage schedules.
: mere was also a reaction IN the price OF
pig lead. The metal stocks generally did
not hold their best prices. The same was
true OF the coalers.
was inclined to react from the high price.
The following depression VAS attributed
TO the aspect Of the CnIneSe GueSlipll, ana
in Berlin TO the effect OF the dlS2SuUH
1re in Hobokeu on Saturday, but the re-
Election on this market was overcome IN
five minutes.
morning. and many OF them made good
progress towards recovering the amount
Of interest Sales. Sin35.pUe nited
states IS twhcn issued advanced a, and
DO registered Is. New is declined "A IN
Tota tai sales OF stocks to-day were 297, GOO
shares.
MONEY AND EXCHANGE.-AIoney on
call easy at 15sdE per cent; last loan at
la4 per cent; prime mercantile paper,
8asa412 per cent Sterling exchange
bills at 81 S61s fer demand and at $4-5.';s
for sixty days: posted rates, a4-oi5ssti -
and 81. S7t-2; commercial bills ~. SsG-4 =. q
u q sFts4 E.. "a
G224; Mexican douars, ISL Government
bonds irregular: State bonds Inactive;