The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-08-05
more CONFIDENCE
IN STOCK MARKET
Harriinan's Expression Of Opinion
Regarding Better Times Helps
Situation.

NEW YORK, August 4--Whatever
niisgivlngs were felt yesterday over the
speculative situation were laid aside/to-
! day and operations for higher prices
OF stocks vera resumed with volume
and Representatives, that argue the pos
session of the largest resources and a
feeling of unbounded confidence. COM
mission houses admit but moderate
Z although q growing increase in the out
side participation in the market.
The tagging or receding tendency OF
y portions of the list was viewed with
( indifference and did not materially OBJ
struct the Industrious operations to ac-
Z cumulate stocks which We're going on
at other points in the market. The
greater breadth and irregularity Is
taken usually to indicate decline IN
the professionalism of the operations.
The grain markets were somewhat less
excited to-day. News regarding the
crops themselves continued to show
unfavorable weather conditions in the
corn and spring wheat belts
The weekly bulletin of the weather
bureau gave official confirmation to the
existence of these conditions up to last
night, and the official weather map
this morning showed no material SUBJ
sidence of the drouth and heat In the
districts where they are most feared
The wires brought further reports al
so from private experts alleging heavy
damage 10 the yield. These reports.
which intimidated the spectators on
Yesterday, Were ignored to-day. De-
.s,ructive forest fires We're reported to
be sweeping uninterrupted over re-
gion OF British Columbia, and employees
on the Canadian Pacific We're ordered
out on strike These are not important
developments in themselves. but the eff
feet they produced yesterday, compared
with the Indifference towards them to-
day, marks an important contrast IN
the temper of the speculation Mr..
Harriman's expressed opinion of the
speculative situation and of belief
that the advance will continue "as long
as conditions continue natural and as
long as the people are normal was ac-
cepted in the stock market as specified
approval Of the movement for higher
prices. There were rumors rife again
that an early decision would be made
of the suit to test the validity OF the
commodities clause of the Hepburn act,
and that 1t would permit the anthracite
carriers to retain ownership of coal
mines. Definite news had very little to
do. however. with the resumption Of the |
bull movement.
The usual profit-taking in the final
hour of the day was carried through |
without serious inroads on prices. Bonds |
were firm. Total sales, par value, So
$4,000. United States bonds were I'M
changed on call. Total sales of stock
to-day were s21,T0o shares.
NEW YORK, August 4.-Money on
call easy, 1@1 IA per cent; ruling
rate. 1; closing bid. !; offered at l
per cent Time loans quiet and steady:
sixty days. 2d2f-4 per cent. and ninety
days. LEA 8 per cent; six months.
5 "a per cent. Close: Prime mercan-
tile paper, 8 to 4 per cent. Sterling |
exchange weak, with actual business
in bankers bills at s4.s655 for demand
and at s4.s5dsis510 for sixty-day bills.
Commercial bills, s4.s. 1-2@si.S+ "a.
Ear silver, - rs. Mexican dollars, 45.