The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-09-08
N eW Y 0rk
Stock Market

New York, September 7.--Events
which IL was supposed were awaited
10 dissolve the uncertainty and hesl-
taticn of the speculation in stocks
succeeded each other without bringing
any relief to the dullness. Yesterday
1t was the Vermont elections which
we're said to be REFRESHING activity III
The market To-day attention was
carried forward to to-morrow's gov
eminent report on grain crop condi-
lions Should that fail to arouse ac-
tiyity in the dealings in stocks the
coming copper producers report and
the monthly statement of unified ton
aage orders of the United states Steel
Corporation will be brought forward
as the subjects on which light is de-
sired.
The stock market followed its ira
dition in depressing price on news OF
reduced Repob lican majorities in
Vermont State election. AS yesterdays
selling seems to have been based on
expecta ton of the result, there was
sufficient demand from uncovered
shorts to tally price This action of
the market was accepted as another
proof of its exceedingly narrow and
professional proportions and OF the
wholly perfunctory character OF the
operations now going on. There was
announcer lapse III lhtSleSl III CoHSCs
uuence, and the later market lost
nearly all sernblance of interest. The
disposition to cover shorts was en-
HANGED by the belief that to-morrow's
government report on crop conditions
may show improvement. b The spring
wheat crop, especially, is believed to
have made up part of its late de-
nciency to an extent to promise a
prosperous total yield. The showing
of corn crop. even If favorable, is
likely to be accepted with more re-
serve. owing to the conviction that the
year Will offer unusual hazards from
frost damage. owing to the lateness or
the crop In maturing. For this reason
every day of warm, favoring weather
In the corn belt, gives special gratiti-
cation as adding fresh portion to
the amount of the crop already mado
and secure from frost.
The adjustment to more normal
price levels In the cotton market is
a matter that would bring satisfac-
ton to an extensive circle of financial
and industrial interests, especially for
the effect 1t would have in melting
export demand for that product, and
thus helping to restore the discrepancy
In the foreign trade positlo... The
weakness of foreign exchange to-day
was believed to have a connection
with the increasing supply of com
mercial bills in that market. A rise
In the private discount rates in the
Berlin and Paris markets did not check
the movement. London discounts were
unaffected. and any change in the
Bank OF England's official rate is not
looked for tomorrow. The movement
of currency out of New York continues,
but at moderated rate. Chicago re-
ports an easier tendency of the money
market. Half million dollars OF
Mexican gold was rife in New York
during the day and the shipments to
Canada have been suspended
1t is believed in the financial dis
rrict that the trunk line railroads
will offer a stronger argument for
higher freight rates in the hearings
pegun to-day before the Interstate
Commissions examiners than were
made by the Westrn RAILROADS. This
had some sustaining effect on stocks
Bonds were firm. Total sales, par
value, sS50,000.
United States bonds were unchanged
On call.
Total sales for the day 2ss,soo
shares.
New York. September money on
sall easy: 1 7-S@2 per cent: ruling
rate and closing bid, 1 7O-S. offered
at 2. Time loans dull and strong;
sixty days. 4@4 Ia per cent: ninety
lays. l-4@4 IL per cent; SIX
months. S-4@5. Close: trime mer-
camille paper, 51-2 to 6 per cent
Sterling exchange easy. with actual
business in bankers bills at 4.Ss25D
S4.S35O for sixty-day bills. and at
s4.S6l0 for demand. Commercial bills.
S4.S2 3-4MS4.S3 la. Bar silver, SO rs: