The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-09-17
New York
Stock Market

New York, September 16.--There was
no general clearness of conception ant
no great strength OF conSiction OF
values OF securities reflected IN the
action OF the stock market to-day, Hes
itation and uncertainty We're written
on the face of the market. The under
tone was heavy and sometimes weak
hut at other times there was evi.
tience of resisting power and signs oil
support which implied q protective IN
Iuence The transactions In United
states Steel Were more than double
those in any other one security, ana
when dealings In Reading and Union
Pacific were added there was not much
left OF the rest of the market. The
great preponderance of the operations
in United States Steel gave that stock
A large sympathetic effect on the gen
eral market Discussion OF the iron
and steel trade. in fact, occupied much
of the attention of those dealing In
stocks
The hopeful spirit of the remarks Of
Chairman Gary of the board of d.
rectors upon his return from abroad
was penetrated by the scrutlnizing to
the reservations contained in the fore.
cast. The weight attached by Judge
Gary to politics as restraint on bus
mess activity did not allow an infer
enco of hopes OF early activity In the
trade. 1t was perceived, also, that the
chairman dwelt on the accumulation OF
old orders as the source of any pros
porous activity at the present time.
and casual reference to only half OF
our capacity per day in new, orders"
was seized upon for unfavorable deduc.
tons There was very insistent talk.
also. of an open cut in prices of steel
products In contemplation; The alb
sence of official information on the
subject weighed on the market
Some effect to this influence was the
report on European copper stocks.
showing decrease in two weeks OF
upwards of 1000. 900 pounds and bring
liS ,yo
TO the lowest level touched In twelve
month.
The exports of copper from New
at fhe same time at iS4ss tons epo eon.
pared with 5,Ti1 In the corresponding
Week of last year. Copper securities
in London were favorably affected by |
this showing aud were given some
power of resistance in the New York |
market
The preliminary estimates of the
weeks currency movement We're inter-
estins as indica ting a balance of re-
express from the Interior. The loss |
OF cash in Subtreasury operations of !
sb.e5S.000 seems to be thus reduced to |
little over ss.ooo.ooo. The complied
movement remained subject for con-
sideration In connection with the |
money situation. So did the report |
from Washington that the August sta
dSniN sLloNeu an excess value
Of imports over exports thus turning |
the balance for the eight months for
elgn trade of the United States against
this country. The discrepancy thus
implied In the price level of commodi-
ties In the country in relation tn the
rest of the worio gave force TO the
Tears of further decline IN price o,
steel and copper as necessary prelm-
inarfes to trade revival
The favorable weather report for
the corn crop was a sustaining factor
The signs Of support for the Hartman
stocks on the decline turned the mar
ket and prompted the covering OF
shorts. which closed the market strong.
Bonds were easy. Total sales mar
value, slI55,00o United States bonds
We're unchanged on call
Total sales of stocks for the dav
were 3S3SOO shares
New York September 1s.-c,ose.
Prime mercantile paper, l-2@6 per
cent Sterling exchange steady. with
actual business in bankers bills at
li.S3ssd stS515 for sixty-day bills, and
al siS62s for demand Commercial
aa;iis. $3.50 l-Sds4SS SIS. Bar silver
% IS. Mexican dollars. Al. Govern
ment bonds steady Railroad bond,
Easy Money on call easy. / 3-4@2 per
tent ruling rate. rs; closing hid
ma offered at j S-4. Time loans firm: