The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-10-14
The Market Yesterday Ended
In Stagnati0n.
THE LOWEST ON RECORD
United States Steel Preferred Went
Down to 81 Id Organized Effort
Made to Start Prices Upward.
Money Market Easy.
(By Associated I'ress.)

NEW YORK. Oct. 13-To-day's stock
market passed through many phases and
ended to-day in ncary stagnant condl..
s not an and , With p,ies nx ss the s
strength during the ~ part OF tho
day when the selling pressure winch MS -.
been so conspicuous recently seemed 70
be entirely withdrawn. All og .n!Sed
party OF professional traders, made an
attempt to start prices upwards. peICeiv,.
Ing nunLer OF circumstances which
might work In favor Of the attempt. the
most notable OF these Was the building
up Of a large short interest VII en- gave
evidence OF It's existence by an eagern,css
to borrow stocks for del very. causing
q number OF the lndustrials to comlnand
= slight premium for that purpose N the
clned 10 attach Importance TO- some very
large concentrated buying OF unsettled
preferred, which was noted yesteruay.
p pnfta Fave rss u eNrT That sock
consequence, recovered to SIX. and IN.
spired hope that Its downward course had
The Importance attached to the ship
building case was Indicated by. the good
effectfof a rumor that the suit was 20
be adjusted. and d,scon,nuea; q. tho
vidend increase on Amalgamhted Copper,
and Of decla. alton Of dividend on
Reading second preferred.
Steel preferred to 81 IL. the lowest price
on record. had a chilling effect on the
whole movement and caused reaction-
airy tendency.
Tho selling OF the stock was associated
with tho renewed stock market furry
IN PitssburG and 1t , vas ,he ma a
4 kct came out OF collateral for a loan.
which was affected by the Pittsbu
money troubles.
still notably weak. under the influence
OF the official admissions OF large meas,
ures OF economy By the great RAJ e oaa
ga,erai throughout the railroad worla.. A
san OF the Rock Island, stock at de-
cline OF 15 points attracted nome atten-
The break in Canadian Pacific Just at
the close was attributed to orders from
The Western demand for currency is
rtIli deferred. and New York exchanae at
Chicago went to l6 cents premium. The
money market e eorrespond,ns yre saf y
caution on the possibility that the de-
uand. though late, may stu come up 20
Outside OF tho fluction. OF Steel bonds.
the bond market was narrow and un.m-
portant. Total sales. par value. sea-
United States steel advanced IS per
cent, OF the last. call. ~ M,
The total sales , t9,day s xs1e R ps,
moro and Ohio. 800; Gam dian Pacific.
$500: Chesapeake and oh g.: 800; E:ie., 81
BIS: Louisville and Nashville, 2.6s0;tH s.
1.o32; Norfolk and Western. preferred.
ITO. Pennsylvania. 24,4oo: Reading. 1870:
Rock Island. II. $50; st. Paul. l1,5s5; South
ern Pacific. $40: Southern Railway. To-
900: Southern. preferred, $500; Union Pa
clf.c. 3o.3s5: Amalgamated Copper. s5,2l6;
American Smelling, 500: Amer.can Su-
gar, 1900; Tennessee Coal and Iron, g. ~:
United States steel. t0l55: United States
Steel, preferred. lll.032.
Money on call, steady at 21. Ia; closing
bid, 2: offered at 9: time no.ey. easy;
sixty days, Lat "a per ceat; ninety
mercantile paper. 6M6 IL: steri ny ex-
change. about steady, with actual bus.
ness in bankers bills at $4.ss.i3G4.S IS 81
day bills; posted rates S.ss and $i.sa IL:
commercial bills. ,i:s1 7-s; bar silver,