The times. [volume] (Richmond, Va.) 1890-1903, 1902-07-11
ALL THE MARKETS
ARE SPECULATIVE
These Influences Affect Grain
and Money Exchanges.
NEW YORK CENTRAL ACTIVE
This the Leader Of the >Market-Ma-
oauvrc 20 Facilitate Taking Profits
in Western Stocks--lnterest
in Corn Corner.
fRy Associated Press. J

NEW YORK, July lo-To days stock
mar,,-t was highly speculative through
out, a-1G speculative Influences affected
the grain markets as we'll as gwen the
money and exchange markets In the
stock market there was large buying of
New York Central. which YVES tho leader
Of tbs market, by the satre brokers which
wn.e aeary sellers 0: Western grain car
ryIl.S ra.iroad stocks The conviction
was general to-day that there was 4
:nanoeCv:e to facilitate taxing profits IN
cd Western contingent, which IS enGTosscc
=: this :ime vita The conduct OF the
corner %. July Coirl ct Chicago. ms
operation icouIs k:8 III financial affairs
The realizing IN .trn4s in spite of The
clearing -'eSt'ier IN the crop regions 70.
DAY. The cout!t!aed hearE shipments OF
currency TO Chicago, lie rislnS. rates i41
time money here, tho selling of loan b!lis
in the foreign exchange market; NHich
has averted Scld exports, are al attrl.
hutcd III soice degree to tl.e eRlsencics o.
tic corn corner. There we're no current
transfers 10 Chicago through the sun
Treasury to-day. but 100000 went through
that institution 10 New orleans. 35ld X Is
estimated that the eNpTcSs companies
took another million anu q i?ali TO
Chicago to-day. A recovery in t::e fSew
York discount rate there from % cents TO
IS cents discount indicated some result
Ing relief from the pressure upon New
York The higher rates for time loans
here encouraged further borrowing OF
fo1 Sign funds through the sterling mar
ket But the stocks which rose in price
wore sold for London account thus in
c-essing the demand foe' exchange in pay
trent. This months transfers of currency
through the sl!b-rreasury to Chicago have
i.oT rea ched 81 .fsrl.G0N, compared with $780,
Crto for this tine last year, and to New
Orleans this months movement is 100000.
compared with $4,000. Reports from
Chicago indicate that heavy demands are
making on that center for currency from
western and northwestern points.
That the stock market is still we'll in
control by large speculative interests was
demonstrated by the early strength of the
Of strength in Missouri Pacific: The six
point squirt in Sugar was III the nature
OF punishment to bear spectators who
have sold this stock short very freely of
Fuel and the upward rush in United
States Steel a the close to-day were sug-
gestive of large results. The closing gen
orally was steady
sales. par value. s. 800 600. United States
bonds We're unchanged on the last call
The total sales of stocks for the day
were 62S, 200 shares.
MONEY AND EXCHANGE-Money on call
steady at Sd4 per cent: last loan at 5 per
cent; prime mercantile paper. ~ as per cent.
Sterling exchange steady at S4-S1&4 ai.S7Ts for
rates. si.S6M4.sG and Si.sS1AM4.S9; CONNER
cial bills. 81 S45s d5Si5s- Mexican dollars,
s23.: bar silver. 5Sl4. Government bonds.
stendv; State bonds. inactive: railroad bonds,
irregular.
STOCK QUOTATIONS
F,,n,,i I'd by Msssr,. SCOTT sTRINaFELow
embels New \ oIk Stock Exchange.
open. Hizh. Low Close.
steh,.on ...... ssss So ::ss .sh
Tal1imor. & ohio -. I077s los lo;ls 1913.
Bal,imorea Ohio nfd.----- a5h 95x 95'i $50