The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-09-20
Ne w York
Stock Market

New York, September 19.---The stock
4 market to- day showed nothing 50
I clearly as the nsistent determination
of the speculation to mark time and
TO await events, An opening decline
In prices disclosed some buying de
mand at the lower level which was di :
vcrsely attributed TO supporting orders
Z by those Interested In the properties
and to an uncovered short interest
The latter suppositior was given color
by the increased borrowing demand IN
the loan department at the Stock EN-
change, where money was loaned be.
low the market rate for the sake OF
securing the desired stock for de-
livery on contracts of sale such
borrowing demand is necessary ac-
compartment of short selling. but 1t is
possible TO stimulate short interest
by sellers of long stock borrowing for
delivery and retaining their own
shares. The borrowing demand was
most noticeable in the few. stocks
which have constituted the bulk of the
dealings for long time past Relief
from selling pressure in these was.
sufficient to affect the tone of the
tial. -
Immediate events had little effect on
the market in view of the Importance
attached to the outcome of affairs in
the most distant future. especially the
elections and the Supreme Court de-
cisions on the trust cases There was
drop Of 2 points in the shares Of
which was ascribed to the new suit
intended for its dissolution. Reports
Of conference at New Haven between
the President and ex-President were
read with interest in Wall Street. but
with no very clear conception of the
bearings of the event on political pros
poets
The reopening of the railroad rate
hearing at Chicago is looked upon
nV-ts ~
proceeding which may define more
clearly the scope of the task confront
ing the Interstate Commerce Commits
sion in shaping method for fixing
more weight will remain on specula-
tive activity in railroad securities UNI
til more light is obtained on the out
come of the rate inquiry.
The Sunday weather news was con-
sidered favorable for the corn crop on
which principal interest now con-
Nerges, The prediction of cooler
weather again brought to mind the
frost hazard and deprived that factor
of influence on stocks. A rise in price
of copper in London was an incident
of the day. Steel trade advices We're
not altered IN tone, the expectation
persisting that lower prices for fin
nounced, The analogy of the effects of
former cuts in prices in stimulating
demand and in marking turn in
= STOCK market movements left Specula-
tive ideas hating and Undetermined
over the prospect. Railroad traffic of
fictals were reported as speaking
cheerfully of business and OF pros
poets.
The small competition manifest for
the weeks arrivals of gold in the Lon
don market had quoting effect on
money markets. Last weeks loan ex-
pansion OF the New 4ork banks is salu
to have been for account of Southern
financial centres. and obviously repre-
sents preparation for possible contin-
Eencies in the cotton bill controversy
with foreign bankers. The decision of
this dispute will be welcome relief
Tor the financial community from a
troublesome element.
Bonds were irregular. Total sales
par value. s1,419,ooo United States
price on call
Total sales of stocks for the day
Were 226,20o shares.
New York, September 1e-c,osa.
Prime mercantile paper, 5 1-2dS. Ster
ing exchange steady with actual bus
mess IN bankers bills at s4s3506
s4.SS95 for sixty-day bills, and a.,
si-S62O for demand Commercial hills
S4s3@s4.S3 Ia Bar silver. s IL
MEXICAN dollars. a. Money on cali
easy, i l-2@2: ruling rate and ciosins
PIC. i rs; offered at g Time lo.rs
ouli and steady: sixty DAYS. 8 34m1I
per cent, and ninety days, 464 1.4.'si
months, 4 1-2. = ON