The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-04-30
Neu Yo rk
Stock Market

New York. April 2o.--The stock mar
{ ket to-day felt the benefit of the cor
eective measures which have been
replied to the weak points In the Sit
uatfoi. Tbs effect OF those measures
was especially notable in the money
market, where the call loan rate ran
OF TO the lowest Hof the week con
TASTED with , per cent. rate OF yester-
day. the highest since the first of the
Year AS to-day's loans on the Stock
Exchange. carry over until Monday.
this rate represents the end of the
month condition, the conflict with the
MAY settlements not being sufficient
10 keep the rate UP. An important
factor in this was the cotton market
settlement, the heavy notices of May
contracts being taken care of by the
bull leader in that market The
amounts recalled from the stock for
this purpose arc believed to have been
very large and to account for much of
me furry Yesterday The settlement
demonstrated the strength of the bull
position in cotton and emphasized the
precarious position of the shorts in the
NiaS cotton: position that does not
leave the stock market free from some
apprehension OF a reflected disturb.
ance.
Estimates of the weeks currency
movement showed a substantial inflow
OF cash from other points and cor
responding relief from the decline of
the weeks gold exports and Subtreas-
airy operations. The sum total Of these
Nlthdrawals reached the imposing fig
nre OF li,25s,0oo. but this figure prom
ises to be reduced to the neighborhood
of sl0,ooo,000 by the weeks inflow
from other points. The publication of
These estimates. played its part in the
money market
Ihere was material decline also |
in foreign exchange rates Confidence |
IS growing that, with the actual adop-
ton of the British budget, which was
accomplished to-day, the London money |
market will find itself amply prepared |
TO meet the special requirements in
VOWED. The thorough recuperation eff |
fected by the Bank of England points
10 such preparedness. During the day
the sale was announced OF block of
railroad bonds. which are to be placed |
partly IN france and partly In, Ger
situation is found in the falling off
in custom receipts for April, indicating
decline in the import movement OF
merchandise. which would relieve the
debit balance of the money market
abroad. Wheat exports this week also
rose 10000 bushels over those Of last |
week.
a strong influence was felt from the
report that tho Western railroads have !
notified the Interstate Commerce Com
mission that they will file schedules
OF increased freight rates next Mon
day. March reports of some of the
iaTS cSt OIL the Western systems. in
Guiding the Union Pacific published to-
day, show SO heavy an expansion in
operating cost as to overbalunce the
gains In gross earnings, and thus es-
tablish material reduction in net earn
ings from March OF last year. The
spreading movement for advance of
wages emphasizes this tendency of
railroad finances and. the interest of
stockholders In an Increase In COM
Pensatlon for transportation. This fac
Tor was notably effective In the case
of ST, Paul. although the whole rail-
road list responded.
aside from. this. the news offered
nothing to change the business out
look look materially. Iron sales continued
IN the prices for copper Tho grain |
markets were in receipt of complaints |
of too dry weather. Railroad equip. |
ment companies, it was said, noted a |
decline in demand, which in the case
OF freight cars amounted TO but 80 |
ceived in March.
par value. s2,9l2,oo United states
As. registered, declined is per cent.
2 in the bid price on call.
Total sales of stocks for the day
were 155.2Oo shares.
strong, . l-2as per cent: ruling rate ate
s; closing bid, 3: offered at IA, Time
loans firm; sixty days and ninety DAYS.
1-4@4 1-2; six months. 1-2G4 IA.
Prilne mercantile paper 3-405 per
cent cent. sterling exchange. weaker, with
si.si4og s4.s45o for sixty day bills. and
at S4.SI65 for demand CommerriaI
bills. $3.50 3-47siS4 Ii Bar silver "A
Mexican dollars, a.