The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-09-02
New Y ork
Stock Market.

~
New York. September 1.-The amour,
to-day was swelled considerably over
yesterdays total. The first hours
dealings In fact, crossed the days to-
tai for yesterday. This increase in
dealings into state OF animation,
The Overwhelming prcponderance of
the transactions in Recalling, Union
Pacific and United states steel showed
the professional character OF the mar
ket, and how little changed II was III
that respect, The entire stagnation
OF demand for securities In itself serves
as announcement to attack by the
bears bears in the specuia'ion Various IN,
cidcnts In the days news were cited
also IN support of this action.
movement OF prices in either direction
was welcomed by the board room trad
ers as relief from the Improbable
stagnat!on, and they Joined freely In
the days movement In the three most
active stocks
Colonel Roosevelt's address in Kan
sas yesterday In It's .militant attitude
against the special interests was a
subject Of professeds apprehension OF
the part OF sellers of stocks. The con-
tents OF this address were known, and
were available FOR analysis, while the
stock market was stagnant yesterday,
means of revivinY uneasiness over the
political prospect, including proposed
further tariff revision and Intended
agitation against corporations.
The fact that petitions for increased
freight charges are to be acted upon
by the Interstate Commerce Commits
sion, after the conclusion of the hear
ings now in progress, and the Gear that
the contest against the proposed in
creases may be encouraged. and
strengthened by the course of the po-
litical campaign entered into the spec
uiatve sentiment OF the day. The
subject derived added importance from
the heavy increases in operating ex-
penses for July, disclosed by the re-
ports of railroad earnings for that pe-
Rod. The great lines both East and
West are showing July expenses cx
banded banded =, IN larger degree than the
being a general decline In net earn.
tngs compared with last year. This
was made. the text for discussion of
the necessity for retrenchment, which
the net earnings and yield a profit on
operations. Bankers and officials con.
nected with the finances and the adj
ministration of railroads lent counte-
OF PROJECTS of Improvement and cut
ting down of outlay as far as possible
We're admittedly on the program for
future months A general policy OF
duced demand for such a variety of
commodities that the list of industrial
securities was unfavorably Affected.
United States Steel was conspicuous
in this respect. Reports from the
trade authorities of a heavy buying
movement in iron and of improved CON
dition In the market for finished steel
products We're without influence.
Amalgamated Copper was a compan-
ion In weakness Exports of copper
during AUGUST reported at 1896 tons.
were the largest in any month since
April of 1909, but the price Of the
metal receded in London, and the cop.
per securities were sold with the rest
of the list. ii
The expected advance in the Bank
of England discount rate did not oc
London held firm. II,roads on New
York bank cash are making at heavy
rate. Indications pointing to decrease
of s10.000,00o or upwards in that item,
for the week. No positive effect is felt
in the stcrt- -rarkats Tho sm.>-,',- or
funds remaining more than sufficient
to meet the nominal demand The sit
uation makes sentimental influence
Tnfavorable to higher prices, and fig
ured in the days decline
Bonds We're easy. Total sales. par
value, sl,416,G00. United States bonds
Were unchanged on call. Total sales
OF stocks to-day We're i03,205 shares,
New York, September Money o.,
call steady; highest. per cent. low.
est. Il 81: ruling rate. "a; last loan.
rs. Time loans dull and firm sixty
days. S3-4 per cent: ninety days. Al
Ia per cent: six months, 3-4@ 5 per
cent, Prime mercantile paper 51-2 !.
6 per cent. Sterling exchange very
weak: actual business in bankers bills