The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-06-22
new Y ork
Stock Market

New York, June 2i.--Apathy over
come the stock market again to-day,
and the dealings dropped back TO near
the point of idIeness There was a
diversion of speculative activity to the
wheat markets. and the reports cir
cilatcd in that market of dameg TO
the spring wheat crop were not nearu
without solioitude in the stock market.
The oppression OF the weather In New
York, with the summer solstlce, IN
cIined the brokers 10 pay heed TO not
weather reports from Dakota ana
Minnesota, and had part also in dis
couraging any active operations in
stock The considerable rise IN prices
at heiclnse. yesterday after the almost
inert market for long time past,
prompted to some profit taking sales
on the part OF the professional ele-
ment The results summed up were
dull and dropping market. Abundant
harvests viii supply comprehensive
means for solution OF Tie problems
which confront the financial markets
for which no full substitute can be
found, Speculative sentiment, there.
fore Is peculiarly sensitive TO even
suggestion of danger of impairment OF
the full returns of the agricultural pro-
ducts which have been counted on.
The refusal of the stock market 10
take great alarm over the spring wheat
situation was due partly to the modera-
ton with which, the subject was touch-
cd in the weekly bulletin OF the gov
eminent Wedtner bureau. WHICH All
nounced that ''the hot, dry weather of
the week, was very trying to vegeta-
ton already deficient in vitality on
account of previous adverse weather
conditions in Wisconsin Minnesota and
the Eastern portion Of the Dakotas and
Northern Iowa" This specialization
followed the opening summary OF the
bulletin holdings that for the country
week was the most favorable for the
agricultrist of the season to date
The fact that the wneat market ig-
nored this official review and sent
prices upward in response to returns
of sustained high temperatures in the
threatened regions did not prevent
show of resistance to depression IN
the stock market and tendency to-
wards recovery from such declines as
were suffered. These were only slight
~ more pronounced in the spring
wheat grangers than in the general
list.
market is the easing tendency of money
markets Discount rates receded in
London and Berlin to-day, and in
creased ease is looked forward to af--
ter the July settlements are out OF
the way. The foreign exchange market
in New York also, is declining. This
has given rise to the supposttion that
bankers are occurring resources TO draw
on through the placing of securities
abroad
The s22, 500. 900 equipment thrusts of
the New York Central lines, which
were offered in New York to-day are
to be offered in foreign markets at
the same time. The bond department
of the Stock Exchange remains Nat,
but a tone of slight encoura cement
over the prospect may be heard
amongst some of the outside bond
dealers,
Attention was attracted by an an
nouncement that a cut in prices by a
leading New England cotton mill in
terest was to be followed on July
by an advance in the same products.
thus intimating period TO the conces-
sions. The cotton market reported
some buying for foreign account. and
this may have been an influence in
the foreign exchange market.
Bonds We're irregular. Total sales,
par value. Si,l4s,000 United States IS
coupon advanced la per cent. in the
bid price on call. Total sales for the
day, 3l5.s0O shares.
New York, June 2i-Money on call
steady, 2l-2@3 per cent. ruling rate.
23-4; closing bid, 23-4, offered at $.
Time loans weak for short dates;
strong for long; sixty days per cent.
and ninety days, sos 1-4 six months
4G4 Ii Prime mercantile paper, 4 8 4
to 51-2 per cent Sterling exchange
steady. with actual business in hank
ers' bills. at si.Sa65 "a Si.S475 for sixty
day bills and at S4.S6T0 for demand.
Commercial bills, S4.Si@S4.Si IL. Bar