The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-08-20
Ne w Y ork|'
Stock Market

iionarry undertone which characterized
yesterdays stock market became more
pronounced to-day. Trading was IN
smallest save ore thus far this week.
III anything, tile market was more
professional than before, It's FREQUENT
periods OF inertia bespeaking the W,
ter lack OF public interest. AT ODD
times the list seemed to be under
pressure. but nore often the points
of weakness were the Hartman issues ,es,
Heading and United states steer. W h,1iii
of the average lays business An IN
cipient boom in Wabash shares was
checked by official denials OF deal
in which the syi'ten was supposed 10
play an important part.
1t Is a REASONABLE. fair assumption
that the pressure directed upon the
Pacific shares results largely from re re-
cent Developments in California. The
success OF the Insurgent cause IN that
State is generally regarded as unfa-
porable to the Southern Pacific road.
which has long been credited with un.
wonted political activity on the Pa
cific coast.
Stock Exchange sentiment has veSr-
ed from its mild optimism Of the
early week to a fair decree OF p esd,in,.
the political outlook is largely. II
not wholly, responsible. Each passing
day. according to Wall Streets point
of view. adds to the completely IN i ,Nh e,
influential quarters that the moves
now being made on the political chess
board are decidedly inimical to the
Immediate investment demand.
ia Stocks grew increasingly heavy in
the afternoon, with a.generally lower
price level. In fact, all the leaders
went below the bottom price of the
slightly. more active. with moderate
recoveries in Reading and Union Pa
ciic.
London repeated It's tactics Of the
States Steel and the Pacifics, to the
extent of fully $4,000 shares on bal
ance. London's, home markets con-
tinued in state of depression. with
especial heaviness In the ru bier stocks.
which seem to have been the most vul-
nerable spot in that market through
out the week. To-morroW's holiday
situation there.
The days most interesting finan--
cial exhibit was the annual report. OF
the American Smelling and Refining
for the fiscal year ending April 80 last
of s7,5os,Oo0. This was but moderate
decrease from the previous year and
rather favorable on the whole. con.
sidering the adverse conditions which
have so long prevailed in that branch
of Industry.
Domestic money movements indicate
cash gain by local banks of s5,000.-
900 to s7,o0o,o0o. which suggests a par
4 tial arrest of inflow from interior
points, Bank clearings for the week
show a loss of % per cent. comnared
with the same week last year. The
loss resulted largely from the de-
crease in clearings at this centre. and
conveys a strong intimation of the
dimnution of operations here for finan
cial and speculative accounts.
d .Tba 1onn1 n irrarll1ar and
dull. Total salW. par value. aggre-
gated s1,237,O00.
Total sales Of stocks for the day
We're 499,600 shares.
New York. August 19.-Money on call
easy. 161 1-2 per cent: ruling rate.
4 1-2: closing IBID. l Ia: offered at
L.. Time loans very dull: sixty days.
per cent, and ninety days. 9 3-4 and
six months. 1904 IA per cent.
Prime mercantile paper. 1-2@6 per
cent Sterling exchange firm. with
actual business in bankers bills ~
s4.s3so@s4.s4 for sixty-day bills, and
at s4S645 for demand Commercial
hills, s4.s3 1-s6s4.S3 5-S. Bar silver,
3d. Mexican dollars. A.