The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-05-18
Ne w FORK
Stock Market

New York, May 1.-THE stock mar
yet sank into a letllargy to-day. The
failure of the reopening of the for
Sign stock markets to revive n ac-
livity In the dealings was a OBSCURE
ngemcnt to the trading element. and
they practically gave UP the attempts
10 move the market even over the one
Eghth range required for the mini
Wum profit on fluctuations. News de-
Veiopments were not important, but
stocks were unusually unresponsive to
such as there was. some influence was
allowed 10 the Hooking Valley receiv-
ership as a actor in the ~stagnation.
The Hawley projects of consolidation
and extension furnish about the only
matter of that kind now available for
the consideration of the would-be spec
nlators. and the check thus opposed
pullities its popular effect.
The resumption of business in Lon
ION found that market under the re-
pressive influence of the. mourning pc
tiod for the dead King, and with the
prospect of another adjournment on
Friday for the funeral ceremonies. The
NEE gre business that originated there
To-day was on the selling side In New
York, and established u lower open
ing level OF prices. \ desultory at
Tempt to renew the advance in Read
ing was followed BY a languid bidding
6p of Brooklyn Transit, which about
Exhausted the resources OF the mar.
kct.
y further advance in the foreign en-
snanSe rates to-day. when the report
ed bond sales IN Paris, If completed,
pught 10 cause a downward tendency.
rave rise TO vague uneasiness over a
possible hitch in these negotiations.
The immediate parties to the sup
posed transactions maintained the ut
post reticence not only as to the terms.
but as to the fact, of the sales. This
rnusua demeanor in the circumstances
n r u Gu - 49, 49, 4
The magnitude attributed to this one
vs. Responsible for the feeling of sus
Plcion that has grown up regarding it,.
The continued ~sluggishness of the
bond market and the conservative
views regarding the money market
held by bankers emphasize the import
lnce of an extensive sale of bonds
o foreigners. Rates on mercantile pa
per are rising again, with no demand
bn the part of bankers for the small
supply in the market.
The protests against the proposed
increases in railroad freight rates
which are being voiced from different
quarters are not without effect on
fiews Of values of railroad stocks. the
increased revenues promised by these
advances having played a large part
e1 the more hopeful speculative senti-
nent lately held. The final form to
hnder debate in the Senate is also a
subject stock marketwisc.
On the side of the crops. decisive
tendencies are lacking still to frame
iefinite speculative views. The re.
port of deficient temperature contained
N the Weather Bureaus weekly bull
ietin was supplemented by forecasts OF
turther frosts tonight in regions where
soth the cotton and grain crops would
DC affected. n strength of the whoa,
liarket in face of considerable spccula-
.iTe liquidation was remarked.
bonds were heavy. Total sales. par
we're ~nnchansed on call.
Total sales of stocks for the day
Cere S0S.200 shares.
New York. May 17.-Money on call
tteady, 3 3-iT4 per cent; ruling rate.
rs; closing bid. 5 rs: offered al A,
time loans easier: sixty days, 3 ST.:
iinety days, 3 3-.@4: six months. I
1t Prime mercantile paper, s-4m
IL per cent. Sterling exchange
tteady: with actual business in bank
US, bills at S~4.s3mS4.Si for sixty-dav
siils,. and at s4,s71O for demand. Com
percial bills. s4.SS 1-4msiS3 IA Far
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