The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-11-10
MARKET IS
SLUGGISH.
with Single Exception OF United
States Steel Securities, Which
Were Active.
CALL MONEY HA.RDENs
Rises to Six Per Cent. and Ne
ccssity for Conservative
Action is Recognized.
CALL MONEY HARDENs
CBy Associated Press.)

.sEw YORK, Nov. 9.-The continued
liquidation in the United States Steel
securities again oversladowed the Whole
market to-day. The sympathetic response
in tho general market was very slight,
md the effect of the speculative sentl-
ment in United States Steel was rather
TO repress the trading OF depress the tone.
THE market as whole was extremely
sluggish and unimportant The condition
in the money market had it's share IN
represslng activity, and the traditional
disposition in Wall street to pause ana
,ake observations upon the assembling
of Congress was also evident. There was
81 feeling that the proceedings IN Con
gress may take q turn, 70 Whicn actiN -
interest may attach In wall street AZ
three of the active securities of the United
States Steel Corporation sold during me
day were lower than ever before, me
preferred stock at 501-2, the common az az
1888 and the second nonus al az W oo oro,
stock the previous low RECORDS We're
rarely shaded at these figures. ana inc
transactions in them were hot partlcu-
larry notable. In the preferred s.ock.
however there was constant outpourlns
all day and an amending succession OF
Y nfI.erings of one thousand share blocks
asind upward. The special source OF stnis
selling was as much a mystery ,; US a.
gave color to the supposiuon that a
very large account was In process OF
liquidation. Officials of the corporation
denied the numerous reports OF heavy
cuts in prices, but this did not prevent
the general conviction that prices
throughout the trade would be readjust-
ed to the new basis hXed py inc Teuue
ton in steel billets.
The transfers Of currency to the m
terror were limited to $2Op,O0O to ChlcaSo,
which is The l!ghtest for any one Gay
ments were made of gold engaged +
import to the extent Of $75Oo can
money however, rose to per. cent. IN the
late dealings, and the necessity LOT con- J.,
servative action in the money market IS
generally recognized. The price OF gold
rose in london, and discounts were lifted
to above the bank of England rate. There
was special upward movement IN the
New York corporation stocks, which was
unexplained. The Colorado coal miners
strike affected some of the stocks or the
corporations concerned. The special hedvl-
ness of Pennsylvania seemed due TO me
expanding volume of bond issues BY sub
sidiary companies and the death. OF
prominent Philadelphia capitalist. It was
believed. might also be contriDutoIy
at the decline.
Bonds were dull and irregular. Total
sales. par value. sl,92!Wo ~ =, -.
United States 2's, SIS and the old AS
declined 10 per cent. on the last call.
Total sales Of stocks to-day were 4SS,-
200 shares.
MONEY AND ExcHANGE-cLosE:
money on call, strong, at 1-2@6 per cent;
closing bid 412 per cent; otferc at
per cent; time loans firm; sixty days,
per cent; six months, 5 bid: prime mer-
camille paper. 53-4a6 per cent; sterling
exchange. weak, with actual business in
bankers bills. at $is3.S0Q4S3 81 for de-
nand and at s4.sOG4.SO2O for sixty day
bills posted rates. s4S1 1-2G4.S2 and 1850
51-2: commercial bills s4.79Q4.l9 81 !;
par silver SIS 3-4: Mexican dollars, A 81;
government bonds weak; railroad bonds,