The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-07-15
PRICES AT
Low LEVEL
Stocks Sold Off Sharply Late
In the Day.
CLOSE ACTIVE AND WEAK
pAtlining Tendency Was Apparently In
Full Force When End Came-Bonds
We're Weak in Sympathy
With Stocks.
CLOSE ACTIVE AND WEAK
fRy Atsoclated r,ressl

NEW YORK. July 14.-After occasional
resistance to the decline. prices Of stocks
sold off sharply late this afternoon to
practically the low level Of the year, and
the market closed active. and weak with
the declining tendency apparently In full
force. The sharp recovery In the latter
part OF yesterday and a further advance
In London this morning, aroused some
hopes that tho fall in prices was ended
temporarily at least. But the slight
opening advances hero attracted heavy
sional checks to the decline, there was
no further attempt of consequence made
TO put up prices. The selling was ,, en-
tirely based on general consider a,,roa
which. however, remained much of nys-
terry.
But the volume and the method Of the
liquidation put It beyond question that
count Of powerful financial interests. a
great impression was made upon serti-
ment by the large liquidation In Consoli.
points st. Paul's point break in the
late dealings TO q new low level at 14o II
supplemented the Influence OF the break
In consolidated Gas. The public utilities
Of Greater New York suffered IN SYM
pathy with Consolidated Gas and Peo-
pies Gas. The drop In the United States
Steel stocks late In the day 20 new low
cuts made in prices 81 iron had no. re-
suited In bringing in buying orders. High
priced Investment stocks continued to be
sold a I wide price concessions. The con.
the acute weakness OF stocks. 1t was. gen:
orally accepted that the great railroad
com panies are active bidders for money
than attempt any issues OF neE capltai
at this period. The advance in the money
rate had the effect OF weakening ster-
ling exchange and inducing the selling
OF loan bills By bankers: and the sharp
rise in the premium on New York e%-
change at Chicago Indicated the pres
snre to remit to this center. The Weath,
favorable effect. as It concerned wheat,
but the good promise OF corn and cot
ton would lave been sufficient 10 off
set this influence in the stock market.
All news OF favorable character vas
ignored. although Baltimore and Ohio
showed some early resistance 10 decline
on us favorable showing OF net earn
and Western stocks were marked up on
rumors OF a traffic agreement with the
ST. Louis and San Francisco and Pitts
burg and G, G. C. and st. Louis made
i q 5 point recovery from its recent break.
Penrsylvana again broke through the
subscription price of 100, and closed at
1lg Cd New York Central was weak,
but did not get back to yesterdays low
Bonds we're weak in sympathy. With
stocks Total sales. par value. s2,z'o,-
90.
United States bonds were all unchanged
Il Total ,,s sales OF stocks were 10000
shares.
MONEY AND ExcHASGE-cLosE:
Money on call, steady, at las 81 per
.ent. closing. Q IL; time money. firm:
iixty days, 4 per cent; ninety days. 1-2D
per cent; six months, per cent Gn prime stnr
i'm exchange, steady at decline. with
' ,ctnai business in bankers bills at si,ss.ao
Tor demand and at s4.si.0ai.sa.s5 for sixty
Ass: commercial bills. AA ~; par s!1'
yer. SO "a; Mexican dollars. a.