The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-06-21
STOCK MOVEMENT
VAS IRREGULAR 1 i
Response Of Market to Good
News Was An Unsettling
Influence.
OTHER POINTS SYMPATHETIC VI 4 ] [ ! T. ] )
Hating and Hcsitatiig Move
1r1ent ii Prices Latter Part
Of Day.
OTHER POINTS SYMPATHETIC
(By Associated Press.)

NEW YORK, Juno 2o-Tnero were
r,ints OF oEgressive sire, gt', ngaln in
to.day's stock market, but Tie movement
nas irregular and inlerruo:e.l w ds.
cisive reactions. The respOt,ae & Of the
market to the good news }of the day
had IN unset Ting Influence on continent
J Il ON the fear that, with the good ne.s
out. advantage would be taken to Ssc'ti
stocks. This process in fat was IS ~
IDENTIFY at work and gave rise TO ~ TIC
hating and hesttating movement n "
prices in the HttNc part of the day.
Most IMPORTANCE was attached TO ne
action of the directors OF the bnltlInGrn
and Ohio Railroad Company, In increae
Ing the dividend rate on that stock TO
six per cent. basis by the declaration
of dividend of three per cent TO- q,
half year. Renlizing 81 speculative PROF.
Its began to-day before the actual ar1-f
,,ouncement OF the dividend action
the stock receding during the inornin 81 To-
point GLOW last nights leyel. It rose
again to lis 1-2 before the dividend nc-
tioh. but struggled uncertainty Il for q
time after the announcement La Ter In
the day the absorption of the stock be-
came heavy again, and It was carried. !.
through large selling, to AZ IL, when en-
Is a record price ss IS ~ 4
Most Of tin other notable points OF
6lTCIlS Ill lIilOsudS MAJ nv ~
BY sympathy with the Baltimore and
Ohio movement Other subsidiary corn
panies OF the Pennsylvania were nat
4urally affected by the drawing OF an
analogy with the Baltimore and Ono
case In the founding OF hopes for In
/ Ct eased dividend turns: Southern Pa n
scif1c also jwns made conspicuous e KAN
pie " OF similar hopes, which ldYe been
entertained often In the past for q yong
~ xt.y
self was moderate. although that stock
will derive direct benefit from the
Baltimore and Onio dividend incr ease, by
reason of the large amount OF that stock
IN the Pennsylvania "A treasury. fhe
declaration OF the initial dividend on
American Locomotive stock also ind lite
ed realizing sales. which forced the pr:cel
OF the shares downward. Other new
Developments were not important.
TAI Demand for time loans for seven and
eight months continued st.ong IN Nthial
market. and the majority Of business
was done a t S l-2 per cent? although the
quoted rate remained OF IL. bid and
when asked. The CON inued lack OF s,ip-l
port OF marlborough Metropoiitan had
an unsettling influence in tliesday. 8 MAJ
z ket. The days most active stocks m eass
their highest prices late In the trading,
) but did not carry the list, 2 3 q who'll,
Nth them. and the closinEatonc s,as
Irregular. 8 si q Il ;,s a.
Bonds we're steady; total Bales, par;
value. 81, $4,000 United States bonds,
were all unchanged on call. & S55 81
Total sales stocks, $4,000 shares.
MONEY AND ExCHANGE-CLOsE
Money on call steady. 3Gs 51-2frer cent;
ruling rate. 9 1-sG3 1-2 per cent closing
bid 9 Ia per cent. offered ut $ IL per
cent. Time loans strong; sixty days,
a 1-2 per cent; ninety days, s1.2g4 3-il
per Dent: six months. 8 per cent. Prime.
mercantile paper. SOS 1-2 per cent; sterl-
] ing exchange weak, Mt S4s5.S0ai $3.50 for
demand and at s4.s2.i594 So. 80 for six ty-s
day bills. Posted rates, I4.Ssat4:83 Ia and
4 sAal4Ss 1-2: commercial bills. IS 1-4 bar
Q Silyer, 6 IL; Mexican dollars. 80 "a.