The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-05-11
N G w Y ork
Stock Market

New York, May lo--The eshrinkage
q in activity constituted the principal
feature of the carly stock market,
during which tprices movements were
hating and irregular The late bulge
In prices was coincident with n de-
cline in wheat
The most plausible cxplarsttion of
the change in the early appearance Of
tho market was tina, supporting meas
tircs. which were adopted yesterday
and Saturday to guard against the de
pressing effect OF tho death of the
king of England. were desistcd from.
In London 1t seems the support of the
market Yesterday partools In some
measure of a patriotic demonstration
of confidence in the new sovereign
These measures Of support, having
served their purpose, there was the
customary inclination on the part of |
BUYERS to dispose of the holdings ac- |
CURED, simply with the purpose OF OPP
posing decline in prices. There was
less confidence professed in the dura-
ton of truce between political par
ties in England In the constitutional
struggle going on amongst the Brit
fish nation.
Immediate influences from the Lon
don market remained favorable to
values to-day There was further
casing of the private discount rate and
revived discussion OF prospects for a
reduction III .he official discount rate
Of the Bank OF England.
The stock market settlement re-
vealed in its preimnaries an easier
rate for carving over Americans. The .
rubber share section of the market
continued somewhat disturbed. The
British trade return. showing an in
crease for April Of s2o,0o0,oo0 in the .
value of rubber imports over April q
of year ago was pointed to a. evil \
dence of the material foundation on \
which 1.ondon's rubber speculation is y
based. The records Of American i'm p
ports show similarly striking growth -
in value of rubber imports. for which =
the enormous expansion in automobile lcl
manufactures is held responsible. G.
The movements amongst the granger =
railroad stocks reflected some diverg- =
once of sentiment over prospects for
different classes of the wheat crop. az
Railroads through the winter wheat ~
sections continued somewhat back
ward while the spring wheat srangers
developed a striking upward move.
ment in the latter part of the day
The weekly bulletin of the Weather
Bureau did not encourage hopes of
rapid progress in winter wheat from
the unfavorable weather condition. Tho
weather in the cotton sections, also,
WAS not what was desired.
The market for copper metal made n
show of strength both in London !
and New York. and there were re-
ports or some large sales effected here | !
The copper industrIals responded with a
a rise in prices which proved a sus- q
tanning influence in the general list II
United States Steel did not share in I
the benefit of this movement, the deal
ings in that stock being at prices =
lower than yesterdays closing for most ii
of the day. a
There was fresh crop of rumors o.
of dividend increased and a revival of W
old ones touching Brooklyn Transit ~
Chesapeake and Ohio and Louisville n n
and Nashville prospects. Details We're "
stili lacking of sales abroad of Ame-i- p
can bonds except for tho general am n
nouncement Of the placing of a large .
part of tho Baltimore and Ohio note q
issue in foreign markets. st. Paul I
showed the bad effects of this lack of v
Information, and was the victim OF d
disparaging reports of the high Weld %
which had to DO allowed on its. bonds 81
10 sell them in Paris. Ell
Bonds were frmcr Total sales. par Al
value. s2,l1S,000. United States bonds pr
We're unchanged on call m
Total sales of stocks for the day ~
were oi".poo shares, ba
We;
New York, Nav 10--NIonev IN call G7s
stca5I- 2 attn [. ,ar ,,a,,t . r,,,;,, rec
. - o,os;,,,, IA :, - .u1liis late' SIS
per cent. Time loans firm and dull:d C
sixty days. , 34I4 per cent, and ste;
ni.ety days, 4ai l-i six months.
"a IL per cent. Prime mercan- Jan
lie paper. G-fd5 per cent. Sterling Ma Ma
'Aehanse weaker, with actual business Inn nn
n bankers bills at s4.S3S5 for Jul
bf:s. and. at s4S575 for de- Aut
rand. Ctinniefcial bills s4S2 osm Sep
tS3 "a Rar s1vor - w Oct
,ll.,rs A., - Ae"!cai NoV