The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-06-19
COLONEL COMING
O|STURBS MARKET
Practically No Sales Yesterday
on Account of Celcbra-
ton.
WALL STREET CHEERFUL
With Railroad Bill Out Of Way,
Greater Stability Is Ex-
pected.
Especial to The Times Dispatci,.1


New York, June 1S.-Intcrruption OF
business by the Roosevelt reception
resulted in practically no market for
stocks in Wall Street to-day What
little trading was done sent prices
slightly higher. The ne; changes
were so small as to mean nothing.
The bank statement was favorable,
but had been fully discounted. The i'm
portant items were not materially
changed either in the average or the
actual statement. Money Is so cheap
that it can have no influence on stocks
at present Suit OF the government
against the towing trust on the Lakes
and a warning against hard times by
James j. Hill attracted but little at
tention. The technical condition of
the stock market is such that with the
passage OF the railroad bill a further
advance Is look ed for as matter Of
course. Some very unpleasant things
are coming to light. but the recent
break has discounted most OF them.
bright Dreams.
Wall Street most OF the week giowed
with bright dreams of the stability
railroad investments would enjoy af-
ter the new law Is passed. 1t Is now
generally understood that tho rail-
roads will get permission to advance
rates within sixty days after the bill
becomes a law. The clause permitting
delay OF ten months will not be
taken advantage of except In extreme
cases. 1t Is also understood that the
railroads do not expect general ad-
vances, but they believe many of their
increases will stand without challenge
simply because the interests affected
viii not care TO make disclosure OF
trade profits such as would have to
be done TO prove rate unfair
The railroad BILL therefore. may be
accepted definitely as a very good
thing for stocks and for the railroads
The only question that arises Is whe-
Their 4, has not already been discount
ed in the market. Prices went high
er during the week, and there was M
disposition to sell. The advance was
due chiefly to this refusal to sell. III.
buying being very quiet. Although quiet
buying was based very largely on the
Fact that j. r. Morgan will arrive III
Wall Street next week. His return Is
always hailed with an upward move
4 ment In the market. The extra divi-
dend OF per cent. on Jersey Contra
and the support given TO steel shares
and 10 i23d5i1g seemed TO indicate
the Morgan position on the market
The Rockefeller position is still a
mystery. The Standard OIL party /:
believed to be liquidating stock or
every strong point. getting ready fol
a big slump in the autumn, when th'
Standard oil case is before the Supreme
Court again The strength OF Con-
solidated Gas is pointed TO as evidence
that there may be some extra dlstrtbu'
tIon of surplus. but such a distribution
Is very unlikely. The vast SURPRISES
piled up by the Consolidated and the
brooklyn Union Gas are becoming
something of financial scandal, a
Their are not needed in the business
and the people are beginning TO won
der TO what use this ready money /:
put by the insiders, The Withholding
of dividends is deceiving nobody as L
the earnings of the companies
Improvement In Crops.
Reports from all crops show distinc
Improvement the last few days. TIL
wheat situation is brilliant Will
the greatest crop ever known in sight
Canada will raise 2oo.o0o,ooo bushel
OF wheat this year. and the sprini
wheat crop of the United States vii
be the best ever harvested. White
4 wheat is better than the farmer
/ thought a month ago 1t could be. Cor
looked bad for while. but the hot
wet weather is forcing 1t rapidly, an
even that may come up TO the aver
.lage The hay crop will be the creates
ever known and the total OF all crop
will assuredly be the record TO
America.
New York. June 1s.-Money on cal
nominal. Time loans. nominal: sixt
days. 3@3 IA per cent, and ninet!
days, 1903 1-2: six months, 4@4 IL
Prime mercantile paper, 4 3-495 l.
iper cent Sterling exchange firm wit
tactual business In bankers bills a
4 s4.s4so6s4s49o for sixty-day bill:
and at s4.s69o for demand. Commercial
bills. s4.s4Ms4.s4 IL. Bar silver. SO IL
! Mexican dollars, A.
On the Curb.
Goldheld Consolidated led the cur
market again, advancing to 1-2. T
1 Rayo, Gold Hill and Union Mines wer
4 the other strong features. Manhatta
| Transit rose to O. The copper share
were quiet. but strong following tn
lead of London and the New Yor
4 Stock Exchange.
In the Street.
Number of shares sold to-day, 159
1853; year ago, 191,l10.
4 Bonds, par value, sold to-day. $500
! oo0 year ago. s1,S390Oo
The surplus of idle freight car
shows an increase of 14,l1s compare
with June s. A large number of thes
cars are those used for hauling cox
land the strike in Illinois is probabl
responsible for the increase
The Austrian government is plannin
"a new loan of s100,00o,000.
Employees of the Grand Trunk Pa
cific are demanding an increase