The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-07-14
IN e w Y ork
Stock Market

New York. n. ". July i3--The stock
speculation showed signs of lassitude
to-day, which were not out of har-
mony with weather conditions in the
financial belt. About oil that was ac-
compllshed In the days trading was
TO rectify the false steps taken in re.
Spouse to the sensation nlongcring yes
terday, regarding the German foreign
office utterance Part OF this had
been accomplished before yesterdays
stock market closed, owing TO the
doubtful nature of the reports i'm
putting threatening tone towards the
United States government IN an Of
fetal statement. There was spas
modic advance in prices at the OPEN
ing when uncovered sorts took stocks
1T the prices at which they were Of
fered, owing to the dicovery that they
had heen totally misled by yester-
days unfounded publication, The sat-
isfaction OF this urgent demand left
little buying power in the market and
q fresh decline in the coppers addsd
TO the unsettlement
This paucity Of buying demand for
etock was cited as detracting from
the convincing effect of the many
interviews with persons important in
the financial aud Industrial world, en-
pressing hopeful views of the future
and confidence in the soundness of
present conditions, Many of these in
terviews came from men newly landed
from pleasure trips from abroad.
published reports gathered By rail
road organizations of crop conditions.
which gave c favorable Impression of
the situation as whole. 1t deyel-
oped also. that while demand for stocks
died out when attempts were made
to advance prices. power of re-
sistance was encountered on declines.
which argued the existence of buying
orders which would absorb stocks.
when offered at concessions while
refusing to bid fer them on advances.
Amalgamated copper sold down to
80 is. new low level for the year.
the London market relieved this stock
from some of the pressure upon 1t.
The question of the dividend rate
was discussed, and the varying views
affected the price movement The ex-
treme dullness OF the speculation was
ascribed partly to the belief that an
early decision would be taken by
the Interstate Commerce Commission
whether to suspend as a whole the
rates as proposed by the railroads
new law allows discretion to the com
mission as 20 taking the Initiative in
suspending rates. while considering
their reasonableness. An impression
has been current for several days that
the commission would refrain from
suspension of all advances in the VAR
ious tariffs. To-day's announcement
that it has been determined to allow
uOtlt ol tHt ulGlISI TGleS " 20 lHio
effect on August l, was the active
influence in turning the dull and hes
itating tone of the mid season into the
positive weakness later The strong
resistance of the market to depression
was reasierted in a notable manner on
the recreatinon, and prices were raj
lied to the best of the day and to a
stronger closing.
News of more general conditions did
not show decisive tendencies, but the
feeling that fears of crop damage had
exaggerated the real condition and
satisfaction with the showing being
made by the national banks In theii
returns to the controlled helped to
the underlying strength of the stock
market. The gold engagement an.
nounced evidently referred to the same
transaction as that reported from Lon
don on Monday.
Bonds were irregular. Total sales
par value, s1,410,00o. United State.
bonds We're unchanged on call.
Total sales for the day. 52s,Sot
shares.
New York, July 1S.-Money on cal
steady; . i2@2 rs per cent; ruling
rate. "a; closing bid 2 i2: Offered
al > 3-4 Time loans easy for shor
dates. firm six months. sixty days