The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-06-18
MARKET ACTIVE
BUT PRICES | DOWN N
Banking Interests Inclined to Let Let
III Matters Take TlieirROwtl
Course.
CROP NEWS INFLUENTIAL
Speculative Contingent Finds
Lack Of Outside Following Y
Serious Stumbling Block.
CROP NEWS lN A /! |. U Y E: !. I.

sfff' l5f
8 tsrecinl to The Times. Dlspatct.)
Z u NEW YORK, June 17.--W VAN street was
q lifted from the ruts OF stagnationy the past
week the increased activity, however,
being at the expense OF values Tho
speculative contingent, who during the
4 past few weeks, stimulated by the over
sold condition or the market, attempted
Ito force n bull campaign, again learned;
n side following is. 1t was only necessary
81 for the short interest to regain Ito cour-
age and the inevitable slump resulted.
specialties like Reading and Colorado
Fuel and Iron. which had been the most
,lnduly exploited, were the worst suffer-
ers, though all the leading issues We're
syrnpathctically depressed. Despite the
REIMBURSEMENT in prices, there was no
material support extended by banking.
interests who seem Inclined TO let mat
ters take their course 80 long as 8panicky.
conditions dosnot develop. The commits
sion house clientele maintains It's indif-
u ferent attitude, advlces Of brokers being
4 almost uniformly against participation
Other than Tie general feeling that. with
prevailing uncertainties. prices are too
L high 10 warrant purchases. there is no
especial reason for the sudden outburst
OF selling
Crop News.
The crop situation. It Is true. has de-
q yeloped rather disturbing phases, drought
being reported In tho Central West, sug-S
x sestIng bad lay and oat harvcsts. The
a: government report, on the other hand,
8 gives promise OF a wheat crop well over
seven hundred million bushels, spring
qn1, f1rn NJ.
!. ali ton Of d year q 20. though the: winter
4 staple has @ shown some Depreciation
with SO much dependent upon the gu &
ss come OF the harvcstH, the summer mon tbs.
& are likely to find tho stock market irreg Y
lllar and excited. 6 w
The crop situation IS receiving greater
attention because OF the 4 adyerse posst-S
bilitics to the stock market from a poor
n outcome Of the harycsts. Bad results
Il, from one crop alone would not spell dis
525 aster: as was shown during 1901, when.
despite a. falling or In the corn crop
100000 bushels, no check was expert
cnced to prosperity AZ the same time
1t Is the harrests which largely furnish
the railroads vi heir trah'c direct and
indirect, since even merchandise tonnage
is IN considerable measure dependen1t
UPON tho condition OF the farmer purse.
Money Situation.
cisco which amounts to- approximately
x o0OCO.GOO mas been made the basis OF.
8 predictions that easier$rat for money.
L might be expected. Despite this hope
however the trend seems upward. sug-S
II RasesstinlE the usual st rlngency In the fall
Il unless there should be a collapse OF the
& Wild real estate boom or. let up IN
general business. t Wall Street has peen
X undergoing Ihe yemedt1l influence Of
!, :. f{nied should
reduce loans TO n more commemorate
Il level. IS 55i s Is. 4, WIS 5
Temporary stringency In call money
may be expected, owing to the prepa-I
rations for the $50. 100000 July disburse-B
ments, the accumulation OF larger trust
Il company reserves and the government
call for $4,000 900 from the banks. On
the other hand. the very. pre- paration by
4 commIsson-houses to avoid stringency
which shows itself In bids OF s IA per
cent. for over the year may prevent the
expected happening. I5 "a
It may not be generally realized tina q
+ year ago money rates were much easier,
81 call loans averaging 2 1-2 per! cent. and
six months time money 33-4 per cent.
\ Despite this fact. however. the fall strin-1
Y gency was unusually severe call 5moneyI
other feature which exists In 1906 that
was not present In 1906 to anywhere near
THE same extent. Is the unprecedented
e ,glut OF " securities conservatively csti-i
j mated to exceed 100000, 600. Moreover.
1T Is current talk that a number OF large
corporations are only awaiting IA half
,f favorable opportunity to enter the market
Il for funds, and Judging by present indi-5
I cations, they Will be compelled to issue
Is notes on time money basis. .s5
Bank Statement.
The nominal increase In loans OF $913. 100,
shown BY the bank statement Indicated.
e as has been foreshndowed In the foreign
exchange market, that foreign bankers
are loaning somewhat freely. ;ss II
Z The Increase In cash OF SIT, 900 is little
Il over 100000 less than the gain indi-.
.lcated by tho reported movements of cur
y recy. The increase In deposits OF 81, GAG. 700
is $500 900 less than the sum OF the in-
Il creases In loans and cash, which If Is q
remarkably good balance.
u The reserve required Is $261,675 more;
than last week. Deducting from this
the gain IN cash, the surplus isSdimln-
ished by $sS,675. The surplus now is
& ;7,o73,s7o, comparing with s7,2O9, 800 in 1905
$3S, $780, s7b in 1904 $40, 575 In 1908. $l2.l5S,-
4 $50 I'm 1902 $e.611,350 In 1901, .49S. 700 in
4 1900 $50, Oo3 200 in 1899, l>ot counting re-
serve against United States deposits. the
surplus Is $40 OF 1876 # 5
Arrested in Baltimore.
(speoial to The Times Dispatch)
MD. June l7.-Villiam
Tluclsett. alias White colored, who es-
& cnna6 frn;r, tire Norfolk TALL where he