The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-04-16
New Yo rk
Stock Market

New York, April Interpretations for
Sshe rise in stocks encountered some
obstacles which caused hestatins
and irregular movement. The causes
lor the markets action were largely
technical and actual news still played
small part in the dealings The adj
vance which has occurred In prices
this week has resulted in attractive
profs accrued for those who held
stocks from the beginning. Conse'
iqaently. when those who are fostering
the rise bid up prices further at the
houtset to-day there was consider
able volume of selling orders on the
advance from those DESTROYS of real-
tazing their profits. The offerings
proved heavier than the bulls cared to
accept and prices ranged lower with
a subsistence OF offerings. q
Conditions were not against the rise
in stocks. The preliminary estimates
OF the weeks currency movement in
dicated large influx of cash to New
York from the interior, to which was
to be added the sum of S2,707.G00 paid
out on balance by the SubtreasI-y,
owing to the payments on the month
~ pension account. In spite OF the
s4.0o0o0O in gold shipped to London
(
fore, that the banks VIII show gain
o. several millions in cash for the
week. 1t was on account OF this show
ing that The call loan rate ran off late
in the day. There was another influx
of gold also TO the Bank of England, |
and the discount rate In the London
omen market was easier. 1t is report
ed that short-time corporation notes
and some additional railroad bonds
Nare being placed In foreign markets
again. Foreign exchange rates rose
to-day. however with the easing OF
the money market here.
The declining tendency of prices OF
foodstuffs is attracting growing at
tention from the financial interests, |
and important results are expected to
flow from this In the International
trade position. Improving crop pro-
ducts have brought down the price of
grain. This agency has affected the
flour market. The sharp drop in the
price of corn has induced larger feed
Ing of hogs and the high prices of
hog products have declined
Bankers look for effective liquidation
of old crop holdings of grain with the
growing perception that holders have
missed the high prices The reduction
of the high cost of living tends to re-
lieve one of the gravest causes OF
anxiety in the whole economic situa-
ton. and the renewal of export de-
mand for agricultural products would
promise adjustment OF the dislocated
foreign trade situation. The announce
mont by the United States Steel Cor
sDoration of coming advance in wages
was Of mixed influence on that stock.
1t was taken as a necessary accompa-
niment OF q. further advance in the
dividend rate and as tending to con-
firm expectation of an advance in that
way.
Bonds were heavy. Total sales. par
value. We're s2.19f,ooo. United states
bonds were unchanged on call. Total
sales for the day. $4,000 shares.
New York, April l5-Monev on call,
Sl-2a4 per cent; ruling rate ana
closing hid, @i4: offered at ale per
cent. Time loans dull and easier,
sixty days, A per cent; ninety days
4l-4; six months. fla Prime mer.
camille paper 43-465 per cent. sterl-
Ing exchange firm, with actual bust.
ness in bankers bills at s4.s4s5 N
siS45o for sixty-day bills. and at
s4.S7T5 for demand. Commercial bills
S4.SS s4.S41-S. Bar silver So -
n fx ,l In y