The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-12-11
TRADERS AT SEA
AS 10 The FUTURE
-------------------
Little Enthusiasm Is Shown
Throughout the Stock
Market.
BEAR PARTY is STRONG
Dependency Taking Place Of
Optimism Which Has
Been Ruling.
BEAR PARTY is STRONG

New York. December 1o.---stockr
were strong In to-day's short session
and held some net gains at it's close.
announcement by the United States
Steel Corporation that the volume OF
unified orders on hand at the end Of
November amounted to 2,7G0,413 tons,
a. decrease OF 111.536 tons In compari-
son with the previous month, was
abont what had been expected. The
bank statement of actual condition at
the close OF business Friday night
showed no change of Importance in
surplus reserves the loss In cash being
made up by decrease In loans and
deposits. The average statement for
for the week showed q decrease In
surplus Of ss,21s,S25. with q cash loss
OF ss.3G76o0.
Defeat of the government In its at
tempt to have declared illegal tho
methods of transportation used by the
anthracite coal trust furnished the in
centive for sharp rally late in the
week. after prices had been broken
aeverely by several professional at
no enthusiasm. and the week ended
with traders very much at sea regard
Ing the future Of the market.
One thing which caused much con.
Germ was the sale of Investment stocks
by small holders. The bear party IL
SO strong and so persistent that 1t is
beginning to Influence the general
public. and dependency is taking the
few weeks ago.
President Taft's message contributed
to the feeling of unrest because II
seems to contain no stirring note OF
the week was the excuse f9r decline
In the market The public did not
accept the message In the same spirit
as did the professional traders. who
had IT week in advance. The only
hopeful thing about the message that
the public seems to SEQ Is the Presi-
dents suggestion that further anti.
trust litigation be dismissed from con-
siderstinn and that the laws already
passed be tried out.
While this policy on the part of the
President would seem to be victory
for the Standard Oil force and others
action by the government. there is no
evidence yet that the Standard Oil
p people are ,sted They s are the ones
advised the sale of stocks ever since
September Tho Morgan party has
been either optimistic. or. at the worst,
non-committal on the market
nounces that the total farm produce
of the country for 1910 is worth 1904
100000 moro than last year. The pro-
duction OF all crops. however. is siia,-
100000 less the excess being made up
through the increase in animal prod
ucts.
The crop situation Is not buiIish on
security markets just now because of
the smaller sum received by the rails
ers of crops as compared with last
year.
Railroads report heavy movement.
of loaded freight cars Eastward. but
empties going Westward In excess.
This means that the farmers are TAX
Ing the money for their crops and are
refusing to purchase. The Western
movement Of cash confirms this.
On the Curb.
Trading on the curb TO-DAY was
strong. and in some of the Industrial
issues active. Coppers and previous
metals were quiet. The market closed
fairly strong.
In the street.
Number OF shares sold to-day. o64.-
499: a year ago. 33s.TT7.
Par value of bonds sold: To-day,
$4,000; year ago, si.797.oo0.
New York. December l0.--Monev on
call nominal. Time loans easy; sixty
days. 4m4 I'D per cent. ninety days.
per cent: six months. 4N4 Ia.
Prime mercantile paper. 8 to 5 IL per
cent. Sterling exchange easy. with
actual business In bankers bills at
$4.S2TsIs2l6 for sixtv-day bills. and
at S4.s53o for demand. Commercial
bills. s4.s15oms+.s1. Bar silver. 81 1-2.