The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-07-03
I'Vl0l[N|nD|.E| |: |. ! u /.
AETE|.R:0R'||.E|| ] ! ! 10
Free Liquidation Resumed, and and
Attempt f. Support; Market lsl'1'''
IS Abandoned. n
lp j 4 I: i; % oF DISTRESS 81
EvlDENcE!s .l oF . 81 5
sFlurryinC Call Loan. Market Signal
for Renewed Pressure to

no 4 ,.ociat Pre-, ] Y


NEW july ~ hs load q se''.
tng which tile stock ma rket ~ carry TRY
q rped slightly tnitt gated during tfln
early trading to-day, and the unea snessg
sf the bears which was caused ny my
fact made the market feverlsh and " W.
wen for & lime under the conflicting IN
,iluences o. tho selling and the S dema - 4
from the shorts to- he sell .''1
4 ing was resumed in full d force and a t li
ma * 81 closed weak. Tho Ugh opening 3of
Prices was excee ter the first ~ nrea
a. Inc market and there were occasional 1ill
y rallies after subsequent breaks But ne
fact was obvious that any show "a g
! buying demand was taken advantage Of
10 the full extent to continue he real!iss--
inr sales. Late In HE a free LIQUID lion
4 was resumed and attempts at support
4 werp practically aband oned. tho conse-
uuence being d violent full inf prlce %
the lowest on tho presetl ~ yemen T. Y.
Furry IN The cal loa mn rket was u 2! e
signal for tho aenhaDce d pressure g se!l,
Y ana It was inferred that there was tn W
{herl calling OF loans and en- reed clos,
8ing out OF Speculative hold lngs 4 IS tho
Ion ger time money outlook that 8is 81 the
Saubject ofs sol citude.# The fleet Of he
prepare ona q, for paying out $1bo.
Il 81 July dtsbursen,entsis ex pectcd 10 pas .
4 al soon as these disbursements are q 81
complished But the tone Of the lime q oan
market continues strong With an @ y
demand and worry scan ty. - he Slssu q nee q
alcircular3 by the secretary OF the treasury
inviting subacrip lons by July % 70 ~,
n 600 OF Panama Canal DO nds was re-
4 "a rded as complies ng fact X, N ne
xl,it In the bond ma rket. 7 he Erecen NJ pros
n porous course OF the government reven ues
Z ana tho surplus In course OF acc inula-
& t,ong Y IN the treasury have led TO an as.
sumption In some banking quarters thnt5
the IrnmedIn needs gof the ca nal work
would DO supplied out "a Of the trensurylts
4 casl, balance and the flotation Of bonds NOS
3 Tor the work postponed 20 q more pro-
I pitious timc. This hope IT, dsap otnted
4 dation became acute in the Ia to dealings
and the charter OF the selling gave cyl !.
( dence OF 4 al stress which was believed To
q ~ fleet money difficulties on the part
i 81 some speculative hol ders % ss5 u; long
4 stocks. :i S6S5 a S|s
YEA 3 Bonds were more active. United States
y 2s and the IS coupon dec ned y1-s and the
4 new N coupon IA on the last call.
n; Total sales st ocks we're 4 ri 900 shares.
VIEW * DIRK. n July Money on cal
/ strong and higher, s-4aa; ruling rate.
4 81 last loan. g. closing bid and offered g:
Time loans stro |. and dull 60 fSdays
10 per cent % days X 3s4QS eix months
Us 81. s3s Il
S Prime mercantile paper $40 1,2 per cent;
\ Sterling Il e1chapge III aslar With actual
business In bal * ers III lsy at =
for demand md s.. 81 go :sl9e for. sixty
day Ills Posted rate n, Sal a$A@ IN.
Commercial bills st 81 "a !: bar lyer 65 ~.
4 Mexican d liars % b-S.