The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-06-16
Level Sank Lower and Lower
During the Day.
CLOSING HEAVY ATLOWEST
Principal Stocks In Which Bulk of Trad
ing Occurred Lost All the Way
from Two to Three Points.
Money Was EASIER
BY Associated Press.

NEW YORK. June 15.-Prlces of securi-
ties had a decided backset as result OF
to-day's trading. Pressure developed
from the outset and with onl yoccasional
halts and small fractional rallies. the
level OF prices sank lower throughout the
day and the closing was heavy at the
lowest. The stocks in which the great
bulk OF the trading occurred have lost
all the way from Q to points from Sat
aturdays level. This includes the prin-
cipal coalers, grangers, Pacifics and
Eouthwesterns. The question whether
the market was on tho eve of revival
OF speculation for the advance. was thus
decsively answered and there was cor
responding relapse in prevailing sent-
ment about the Stock Exchange into de-
spondency and apprehension.
London took part in the selling aid
Western wire houses also sent orders on
mn important scale. The selling. was not
SO large later in the day, but prices
yielded without resistance. and there was ia
aonbts ab pne the 1Rsa sizing and
the extent to which sliquldation may y, now tS.
in the situation. which were already In
force in the previous n, decline d,, ; hnS Fe
into the background in the satisfaction
over the government report on wheat,;
eaoed 1t up pay IN the ase eotton set called
attention nfresh to the dangers OF thut
crop.
of Western floods left that factor amply
realization that statistics Of railroad earn arm.
TO come must show the large inroads upon
traffic and the large expenses for re-
pairs OF the damage caused by the floods.
Vention and the extension of the lockout
in the New York building trades. revived
anxiety over the labor OUTLOOK.
recovered here and ran. off sharply both
in Paris and Berlin. AS a consequence
there was close calculation oyer + an eX-
keeping alive expectation on this point.
The market closed. however. with no an
nouncement OF any Gnsagenment. ~ s ,ha
banks In the Saturdays statement leaves
the surplus reserve still at low level
for this season OF the year h hnd tmest
the compilation of the returns to the
comptroller for june, of the condition of
try. The Inference from tho foreign trade
statement for May. which shows a fall
ing off in the exports compared with
last year Of over s2.ooo,ooO. is that our ex-
ports Of manufactured products arc de,
products were slightly above those Of
last year.
The news from London that a prominent
financier has booked n passage homo
for this week. after authorized intima-
lions had been given that his vacation
might be extended into August. was made
,lse of by the professional operators with
llnfavorable effect
The bond market was dull. but irregu-
lar. Total sales, par value. 81, 275.OOO
United States bonds were all unchanged
on last call.
The total sales of stocks to-day were
6S5.600 shares.
MONEY AND EXCHANGE-CLOSD
Money on call, steady at 2Q2 IL per cent:
closing. 1-4G2 IL: time money. steady;
sixty days. per cent: ninety. days. IL!
six months. IL: prime mercantile paper.
fmal business in bankers bills at 4.s7.55@
4.s7GO for demand. and at S!S4.S5@4S4.99
for sixty days: posted rates. $4& IL and
silver 81 10: Mexican dollars. AZ 1-2.