Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-07-04
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bonds, Grain.
Cotton, Provisions, Etc.
These Are Closing Sales
Each Day.

New York, July 3--There was an OBJ
yious effort this morning to continue the
set on foot yesterday by clique of pro-
fessional traders. The attempt met with
considerable success for u time, assisted
as 1t was. by special influences affecting
ono or two individual stocks. There was
an active revival of old and neglected
rumors concerning dividend prospects of
@ number of railroads, which have been
pursuing downward course for some
sime on account of the general SUPPOSE
lion that surplus railroad earnings would
be conserved for future needs, rather than
distributed as increased dividends. Promi-
Ohio and Missouri Pacific, which was adj
Tanced over point by an active bidding
up process during the morning. There
was continuance of the recent uncX
planned demand for the Reading and New
Jersey Central stocks. the latter rising ut
one time points.
strength. but relapsed on realizing with
the announcement of a further rise In
Transit derived some benefit from yester-
days verdict in the trial for conspiracy
to dtscredit the securities OF the COM
The early depression from London,
where the growing seriousness of the
problem In China had its effect seemed to
be totally ignored in this market. and had
no influence in checkirA the opening ad-
wheat market. which again demonstrated
Its dominating power in stocks. When
prices OF wheat were seen to advance
tuiii ohu STOCKS turned uONHWdru ana
!ound no effective support for the rest OF
the day. The general level of prices fell
below last night in the late dealings. but
there were some stocks which retained
small not gains, though much diminished
from those at the high level of prices.
Although the advance was checked the
gains, which were secured in yesterdays
movement, were not very largely en-
croached upon.
The market during the latter part of
the day was dull and almost at stagna-
zion, and there was no disposition to put
out fresh contracts on the eve of the
holiday. Rock Island was added to the
Qst Of railroads whose operating expenses
Tor May have more than wiped out the
Increase In their gross earnings.
The money market was very dull and
not quotaby changed, but the diffusion
OF interest and dividend payments had
evidently commenced The sub-TreaSury
had debit balance at the Clearing house
to-day of nearly s2,U00.G0o. and the days
excess of expenditures over receipts of
the public revenue at Washington
amounted to S2.372ls9. These figures
fleet, tho payment of interest on govern
ment bonds
On the other hand, New York exchange
at Chicago fell from 20c. premium TO par,
and there was deposited at the sub
Treasury here 100000 for payment at
other points. The interior demand for
currency is thus seen to be growing.
The bond market moved in sympathy
with stocks. advancing in the early deal
ings, but yielding somewhat with the re-
action in stocks. Total sales, par value,
100000
United States old As and new .s. adj
vanced nc. and the IS and as &c. in the
bid price. The total sales of stocks to-
day were 20950o shares.
New York. July 3-Standard OIL. 500
B.45.