The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-07-17
UNSETTLED
NUMEROUS,
DayIn Stock Market Feverlsh
and Excited.
CLOSING ACTIVE AND WEAK
Late Rally of Wednesday Was Contin.
ucd at Opening, but Renewed Sell
ling Caused Another Break in
Prices. bonds Irregular.
INV Associated Press.

EW YORK. July 1s.--The day In the
lock market was a fcycrsh and excited
one. and the many fluctuations In It's
course kept sentiment constantly unset
tied and nervous. Yesterdays late rally
was followed UP at the opening TINS
morning. but was promptly taken advan-
tage of to renew the selling
Later In the day speculative sentiment
on the stock Exchange frightened consid-
erably and Il general disposition developed
10 buy stocks. During the last hour again
violent liquidation sprang up in Amalga-
mated Copper and American Sineltins.
This seemed to prompt a renewal OF seli.
ing throughout the list and prices ran "
rapidly wipins out practically al w
gains. The market stcadicd late IN tho
day but ran off again, and the ciosins
was active and easy Win me 1f,,a,,as1
level OF prices not materially chaneeu
from that of last night. ,
Attention throughout the stock markct
world WAS st..l concentrated to-day on ilis
developments in the money market. any aI',
the brighter sentiment which was leit
during The midday session was due TO the
repienishnent OF money supplies through
the medium OF the foreign exchange mar
ket. This was reflected in a violent prea AZ
e nearly &c in !he poqhni a M sor oe arseiy
due to selling OF loan bills was made mani
fest BY the large offerings by foreign n.s,n
banking houses in the money market, i ,i,e
placing abroad Of large portion OF ths
100000 OF Union Pacific. notes Wonld
also make a supply of exchange Added
to these factors was very active &c
mand for stocks here for foT-Sn ac-
counts. Foreign brokerage houses esli-
mated the number OF shares bought LOT
foreign account to-day at nifty 10 SILKY
thousand. The effect was perceptible IN
the money market even for six months
loans, which have been ristdly held at
per cent in view OF the payment OF that
rate by the large raiiroad corpo or ms
eases in addition TO the six per cent. rate.
but exactions by leaders were appreciapIy
relaxed to-day.
yesterdays dlspuif3inE rumors were found
TO be unfoundcd.F and general UNDER
standing existed that the clearing house
authorities had made an exhaustive can
vass OF the situation overnight and con,
sidered It sound From the technical
standpoint. yesterdays violent decilnes
and tho enlarged volume Of transactions
were normal to elimination OF {. down,
ward movement. and aroused the hopes Of
professional traders of 2 turn IN me
market. The scllins on the n.,o opening az az
slump in Amalsamase d Copper and snei ,
ing at the last again unsettled the specu;,
latiye mind The presence cerd n the M ~
Treasury gave Tise 10 rumors of contem-
plated measures of relief for the. money,
market by the government, and this had
its part in the lifting OF prices Of stocks.
Opinion over the future of the market at
the end of the day was completely IN
doubt again.
some rallies IN the bond market, In sym
patty wits stocks. made that market
somewhat irregular. Total sales OF bonds,
par value. ;a,s5oDoo. United States bonds
we're all ,i1cha .gct5 OH the last call.
The total sales OF stocks for the day
were $3.50 shares.
MONEY AND EXCIiANGE-CLOsE
Money on call steady at 2iaash per cent;
Ter; sixty days. 4isa4si per cent; ninety
days. 4Esa5 per cent: six months, 5ag5
per cent; prime mercantile paper. 5aola
decline with actual business in bankers
bills at s4.ssa4.S6.l5 for demand and at
1888 65ais3.I5 for sixty day bills; posted
ciaI bills $751;. Bar silver. S35s; Mexican
dollars, az