The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-09-11
LONDON TRADERS
VERY i: CHEERFUL |: !: !. |: a | ! |.
Financial Reviews Predict Sturdy
Expansion Of Business at
Home and Abroad.
ADVANCE IN THE BANK RATE.
Market Affected BY Setback in
New York and Paris and
Rioting III Toxic.

| tSpeclal CnDle to The TtineS- DlEp0tch ana
New York 1lcrald.) E5
(copyrlghtt3by tho New York Herald COD
LONDON. September 10.-'lhe advance
Of The bank rate from 21-2 to 9 per cent.
Is the .tvcnt5o Of the financial week which
attracted most attention and cxerted
most Influence II hnd been expected
TINT the rate you'd go up. but nobody;
seemed to have thought the rise would
one seems to entertain Il. doubt.
The bank reserve was a3,ooo. 0,o less than
last year, the stock OF coin bullion about
serve 10 liabilities down 70 IS per cent.,as
compared with 81 Is when the rate was
3 per cent. The withdrawal on Thursday
| Of further threc-annrtcrs OF n million
In gold for South Africa materially a.
tered The banks position for the worse.
Besides. South ;;Africn will soon want
Of It's cotton crop. and consideration OF
these factors alono would have been8su
Client TO- warrant directors in raising, the
| rate. THAT the Uuitcd States will draw
| upon this market for gold to any great
extent Is not regarded here az probable.
!u Gsedg Saw i wp a6s4
Paris for the metal. rather than to Lon
don.
Tone Cheerful.
There Is growing chesrfulness in the
rnpay and spae
lation on IN stock K Exehangs are grow
f fs toe to expect 5, endy cxpa nsion OF bus
ness, both nj home and abroad. So bu.y
has everybody been on the Stock lIx-
change that no one has had , nc, TO 70
| It's deccnnlal painting, ana the Interior
Is largely taken up by n network of
scaffoldIng, cnusing degree Of inco 2 !,
Naturally ! the (, London stock market
has been affected by the setback; both IN In
OF money, and to the events In the Jap
unesc capital lis partly ascribcd the sell
! count In London this week, Though. as
by no means confined to japanese, but
Copper shares. Fluctuations, even sharp
breaks, in the stock market are looked
for In the near future, but the balance
| OF movement. It Is believed, will be up-
| ward. Although ut present there Is "a
| plentiful supply OF money. discount rates
advanced ona expectations Of Impending
been fIat, and. allowins for dividend , tie Is
PRICE Is 80 20 io%Gr t,'i hn,ds s
1 nnps hss h hncn done though prices have
r r'sen t poS Pars SHOW consderabe
p uI Observation-Disclosures md 3l-2 per
proyembe bonds beine and higher, re- re.
s sea.. D''''s :.
| ~, - - 49, Ar .t..1x,oA s-55 fa
hallway Mdrkel. 8
The home rallway =. market has been
| cheerful. Considerable investment busl-.
| ness has been done with the result of
a general. though In most cases moder-
ate, Improvement in prices. In American
| rails London has been throughout the
! week more optimistic than Ne" ork.
| Canadians have attracted considerable NJ
| tenton both from Investors and specu-
lators @
| Kanlr Circus opened this week IN good
! style There was steady improvement
until Thursday. The. setbnck caused by
Tie advance II the han r rate h9wsyeIL Z
| now strong, with n fairly substantlal rise
| in the range of quotations. compared win
last week l5 i,
There was mistake In some nt !, Of 5dr th ne
1 Thursdays price In Anacondns, In New
! York. It was sent outtbyf an agency h tIs
as 0S whereas the corrIst price %is , 10
This error aroused conslerabie GritlSlsm ~
At least, one financial s:?er ln ny. ,l,a ~
that this kind Of thing - 100 capnDlc ~, ~
| being used for sinister ENDS io y, . Ky
market or the agency respohs'ple - ~
crate. :,
q . a ! an 81