The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-06-16
N e w Y ork
Stock Market

New York, June I5.---The stock mar.
ket at present possesses no distinc-
tive feature except its apathy In
the course OF the day this amounted to
stagnation. The professional traders
found very light offerings of stock for
sale, and they argued from this y
strong undertone and operated, neon
sequence, for an advance. Attempts
to sell stocks, however, developed as
and prices yielded readily to light
ceiling pressure. The action of the
market was read as sign OF the
pause in activity of any kind on the
part of the larger financial interests
The sense OF relief brought by the
agreement between the government and
the railroads on a method OF settle
ment of the dispute over rates, be-
cause a tedious litigation was thus
ayerted, leaves the uncertainties or
the contest before the Interstate Com
merce Commission still TO be passed
through. Railroad officials still talk
of the necessity of retrenchment ua
Ill the time has arrived when they are
allowed 10 put higher freight rates
into force. while the objections TO be
urged by shippers and their influence
on the final decision. which is put into
the hands of the commission, are Co.'S
SaeSASb " F.SSp VIZ idSSh3OAA
open for months 10 come.
At the Same time, there was dis
position in the financial dis ct to
ascrihe feeling of satisfact!o To
capitalistic powers with the cunnS
completion OF the railroad hill The
final shaping of the bill og=ts some
features that were expected TO he
moderated but the promise OF setting
the matter disposed OF is expected to
a. So ,..-., 49,.
stock market. The early advance in
prices was attributed to this general
influence.
other special factors contributed
The strength of Erie was supposed TO
be due to the evidence OF Improvement
In its terminal facilities. The home
coming of J. Pierpont Morgan was
given also as an influence OF that
stock. Reading got some benefit from
yesterdays extra dividend declaration
on Central Railroad of New jersey,
controlled by Reading. Announcement
of traffic agreement between South
:, ern Pacific and st. Louis and san
francisco, involving business between
ST. Louis and the Gulf ports, had
Strengthening influence on the Harri-
man property. The quick sale re-
ported of Pittsburg, Cincinnati. Chica-
go and St Louis bonds although tho
amount was small. was hopefully re-
.',garded and gave credence to reports
.Sof other financing.
a pronounced recession in foreign
exchange rates was feature OF the
day, Ellis against the Southern Pa
cific bonds placed in Germany were
supposed to affect that market.
There was also reported an encour-
aging development in the foreign
transact trade situation in the declin-
: GfErtendency of value of imports in
May, the Bureau of statistics showins
the smallest imports of any month
since August of last year The months
exports at the same time were sus-
tanned at a record for May only
eclipsed in 1907. Some large sums We're
disbursed in dividends. including So
100000 by the STANDARD OIL Company,
but the money market was not appre-
ciahly affected.
Bonds were irregular. Total sales,
par value, s2I46,oo0.
United states bonds were unchanged
on call.
Total sales for the day. $3.50
shares
New York. June 15.-Money on cal
steady. 23-493 per cent: ruling rat;
and closing bid. 3-z; offered az 21-s
Time loans very easy and dull; sixty
days. sa31-4 per cent; ninety days
3l-td3l-2; six months "a Is. Prin7c
mercantile paper. SIC 5i-2 per cent
Sterling exchange steady at the re-
covary. with actual business n bank
ers bills at s4,S425Gs+ s485 for sixty
day bills and at S4.Se50 for demand
Commercial bills s4s3s-sa s4.S4 ii.
Bar silver. 50 3-S. Mexican dollars.
~ Government bonds steady. Rail