The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-07-08
wv Y ork
l0Ck Market

York. July 7.-To-day's stock
proved quite battling to at
at Interpretation or analysis.
thinning out of the market was
ing feature, evidenced not only
I diminished volume of the total
traversed by prices of usually
e stocks, without encountering
rider for execution, and shown
wide variations between sales.
Uncertain and hating fluctuations
extremely puzzling to the trad
news of the day offered no
ing change in conditions affecting
s, and 1t became question how
dssaefs axS.en nn er s9% on the
n w %,Sen'''r prices fell ell away sng-
I'd the operation of supporting
S. and an effective aosorbtive de-.
from pushing. short sales, but
ying down of the demand on ad-
es proved equally discouraging to
8ldherents of the long side In the
ulation. 1t was suspected that the
sentiment might be by design,
for the purpose of concealing the
iuct OF the large speculative forces
le market in a process OF gathering
of resources for a.. fresh n, m .,,e
tone helped by the St. Paul djvi-
d. did not entirely dissipate the
ertainty over the trend of the mar
movement.
Confirmation was had OF the reports
rent yesterday Of the engagement
S1.750,000 in gold for shipment to
W York Some of the foreign ex-
III lnge houses not engaged in the open
Re inclined TO view the movement
premature and its significance as
yS
e the London money market oppose
.stacles to the movement, and had
enforce this view the fact that the
ansx, of England RETAINED from lower
ng its discount rate TO-DAY, ana the
rfvate discount rate hardened in con
equence The gold secured was be-
leved, in fact, to be part of that Sc
ured by Berlin on Monday upon It's
trivial from South Africa, and re-
old to New York.
Paris declined to-day and the foreign
,anks all showed the quick recupera.-
Ion incident to the turn OF a period
II money settlement The weeks re,
,ayments to the Bank .aaa, Of ss En nSn 1Hn
Ind the public deposits also were
Irawn down s15,S36,0O0 That item is
eft standing, nevertheless. at the sum
# s107,5 10000 compared with only Ssh
$4,000 at this time last year 1t Is
yested government deposits in repay
nent of maturing treasury bills that
the resources of the London money
market are expected to become shortly
1t is matter OF record
also, that financial comment in Londor
has inferred a preparation on the par
OF the Bank of England to meet q
lemand for gold shipments to Ne"
FORK later in the year as motive FOL
is aggressive policy OF building VI
thrN, ,cph n
Jear. in addition, OF course. TO tn
needs of the budget crisis and the
death of King Edward.
For these reasons 1t is not believed
that profitable movement OF soi'
TO New York will encounter opposi
ton.
Western bank examiners were re
ported as expressing more satistactlol
with the credit position there, and tn
progress towards correction than va
indicated by yesterdays reports. tn
decline in wheat, in face of continues
reports of damage to spring wheat
was attributed to the eXcellent pro
spects for the winter wheat yield an
this had considerable effect on stoc'
market sentiment
Bonds were irregular. Total sales
par value. s1,66o,ooo.
United States bonds were unchanse
on call.
shares
New York July Money on cal
easier; 21-2d23-4 per cent: rulin'
rate 21-2, closing bid H.; offered
25-s. Time loans stronger; 90 day
31-4@31-2 per cent. and 80 days %
IA: Six months 47-S@5.
Prime mercantile paper S to 5 l.
per cent Sterling exchange firm wit
actual business in bankers bills a
s4s366@4.s375 for sixty day bills an
at s4.S575 for demand. Commerce.
bills s4.S3@4.s3 Bar silver % l-s'