The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-04-12
New York
Stock Market

New York. April l1-Therc was
sudden spasm OF activity in the stock
market day upon the announcements
of the consignment for argumeht "a
fore the Supreme Court of the Aln .
can Tobacco and standard OH cases
The action OF the market reflected
The assumption that an adpantage nv toa
the corporations had been gained Ino
buying of stocks was hurried ana u,
ent and at rapidly advancing quota
lions. THAT 1t came largely from IN
covered shorts was obvious MY IL
fessicnal bears having sold sloChs ~.
the early dealings on rumor ina INA.
decision adverse 10 tho American
Tobacco Company would be handed
down to-day This mood of the sPe.pp.
lation had been aggravated ~ ~ NJ
sneech Of the Attorney General IN CHI
rapo OF saturday night, and W Inc
Intention there announced to extern
the scope OF government prosecutioi,31
OF corporations 10 the bltumlnous III 1
combination and inferenttally 70 ON
ors 1T was gathered that the guy
lnsnt's program was based largely on
the outcome of the two cases nov
postponed, and the nostponement ca w.
cd a revulson of sentiment .!ot,I ~
depression caused by the A'loI'iss
Generals announcement Ihere WAS
additional consideration that the re-
opening OF the two Leading anlit' u I
cases implied balance OF OPINION ~
bers unsatisfed 10 promulgate ue
ciefon in cases OF such wide score ana
Importance. TIE impression lnaue vi
speculative sentiment vas OF an ~
creased chance Tor hnai !,.r,.a
opinion adverse TO a radical interpre-
tation of the antitrust law ne do-
meancr of legal counselors Of the cpr
porauons involved conveyed tue SUI
impression. The delay In ltseH WnlSi,
must now occur In reaching itual
decision in the cases was accepted as
= measure of relief from the conol-
ton of suspense which the WeehN
expectation of possible decision has
hold over the stock market tor those
Who have held that the immediate sus-
oense of this question has been re-
nressive influence of enterprise anu
business in fields widely remote IRON
mere stock market activl 5a ,o ree
changed condition was regarded nope
fully and as likely to release soiha
Wholesome activities in commercial
and industrial circles.
Other considerations were suomcrS
cd by the Importance attacned ~ s u's
new position of the antitrust cases;
Professional operators had discovered
evidence of an oversold condition OF
the market resulting from last week
depression. Bidding for stocks 70 Yes,
the market revealed small iioatine
supply Offering. a stronger techn,l,c.a
condition was inferred from this. ms
dropping tendency OF grain ana cotloi
prices gave force to favorable ausu u,
Ties of the crops. Further needel
showers in the winter wheat bel
strengthened this impression
Interest rates for time loans were
advanced again and the cal loan t d,
started the week at 3 l-.So, in'n y
Saturday and the belief that furthe
gold engagements would be made 10
this weeks steamer. None was an
nounced to-day, ana the ,.; iG5frsn ten
dency. The fact that the Bank o
England secured the bulk of the Soutl
African gold arriving in London WIN
out competition bore on the sltuallol
The statement of the agricultural eN
ports for March showed an increas
in value. but falling of in amount o
cotton exports compared Win Mar
last year which served 10 alter IN
discrepancy from the normal In cNpor
trade, which has been Slaring 10
many months. All the same time ther
we're further arrivals of the cotto
which is being remported from LlN
erpool TO relieve the threateneu 60,
ner in May deliveries OF that con
The tone of the bond market cor
tinued irregular, but there was som
Improvement at some points. lntina
tons that further offerings OF ne
issues We're contemplated was take
10 mean that the surfeit was relieve
to some extent Total sales. par Valn
s22T5,O00. United States bonds Wer
unchanged on call
New York, April 11.-Money on ca
firm 3mJ3 L.; ruling rate 3 y; CLOS
ing bid, . 81: offered OF 3 Time lean
We're firm and fairly active: sixty daE'
41-ies, and ninety days, l-i44 l-2fs
six months, 4 Ia. Prime mercantil
paper. 13fo Sterling eNohans
easier. with actual business in bank
crs, hills at s4S4m$4.S410 for sixty
day bills, and at $fSI7O for demand
Commercial bills S4.S3 3SSi.S3 IS
Bar silver SO. Mexican dollars, Al
Government bonds steady. kallioat