The times. [volume] (Richmond, Va.) 1890-1903, 1900-07-25
STOCK MARKET
CLOSED WEAK
Many Stocks Show Losses for the
Day Of a Point Or Upward.
THE GENERAL DEMAND LACKING,
And Result Of Professional Operators
TO Take ProfitsWas /, Fall in Prices
Bond Market Continued Dull
and Irregular.
THE GENERAL DEMAND LACKING,

NEW YORK, July 2f.-Those who nave
sought TO read in the recent stock mar
ket a reflection of general conditions OUT
side We're stu further confounded by me
course of to-day's market The weak
ness which showed progressive develop
ment during the day could not be ace
Guately accounted Tpr by anything III tlE
news OF the day. But as the result %
efforts by professional SpeCulaitfs 10
take their profits, without anr genera
demand Tor stocks 10 absorb the oHetl''E9
the day movement was caDaDie % 'A-
pianatien.
Efforts were made to sustain the mar
ket IN the morning by manipulation ol
lev SpccialleS. especially sugar ana lIlS
Iobaccos. Later in the day Tobacco Was
exclusively relied upon as a suslalhllls
influence, and finally that stock, after
having been pushed up nearly pplhIs,
dropped back mre othan = points III the
general weakness with which the market
closed. Tobacco's mt gain is ~. but al!
OF the earlier rise in Sugar was wiped
out Many stocks show losses for the
dag OF point or upwards There was
realizing in evidence from the opening,
but the FIRST point of acute weakness TO
develop was in Brooklyn Transit For
the rest the market showed the natural
result of . manipulated advance in the
growth to rather tpp-heavy proportions
81 a long interest anxious 10 realize
At the same time the recent forced
covering of shorts left the market with
cat support from that source. Doubtless
the most potent influence in the reaction
was the p0TtentiGuS growth emitted by
the recognized bear leader from his Euro
pean retirement in an interview. The
outside interest in the market proved
wholly inadequate 10 absorb the offer
iEgs 10 realize and a rapidly declining
scale Of prices was the natural result.
There was q feeling of doubt aroused in
the minds OF spectators by the general
,ceptiCism expressed by public com
Jneutators over yesterdays rise. which
was universally attributed To artificial
manipulation.
The weekly report from the Weather
Bureau on the crops show that the lack
OF moisture In the corn belt caused re-
Lewed apprehension regarding that crop.
and the Corn-CaTrying roads suffered ac-
coTGipglE The non-enGag cement of gold
Jor export yesterday, which caused some
feeling of relief in the then optimistic
mood OF speculation, gave place to-day
10 q fresh conviction that large OutgO
of gold IS imminent, and that Il period OF
srringency in the money market later in
the summer can hardly he avoided.
Rates Of sterling exchange in New York
Were not Quotably higher, although the
market was reported firm. and sterling
advanced an additional fraction in Paris.
vanced IL London, and exchange houses
E=re of TIE opinion that gold will so to
Paris on Thursdays steamer. No en-
gagements have yet been made. however.
There was few large individual trans
actions in bonds. but the market geneT-
ally continued duh and Irregular. Total
sales Sl.13O,U00 United States old As.
coupon, and the new is declined x in the
bid price.
The total sales of stocks to-day were
33G, +GU shares.