The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-08-07
TRADING LIGHT,
MARKET STRONG.
Several Leading Issues Make
Good Showing for the
Day.
FUTURE A PROBLEM
For Weeks to Come Crops Will
Be the Controlling
Factor.
Especial to Tho Tim ea.plspatch.1

Especial to Tho Times-Dispatch.1
New York, August 6.-While trading
was extremely light during to-day's
brief session OF the Stock Exchange.
due to so many brokers being out OF
town for the Weekend, the market
displayed pronounced strength. some
OF the leading Issues moving. up brisk
ly In the late dealings and showing
for the day gain Of more than u
point.
Whether this more favorable con,
dition OF the market Will be continued
Is problematical The government
crop report on corn due Monday IS
expected to be the pivot on which
the market VIII turn. In fact. for
several weeks to come the crops VIII
be the controlling factor in both bus
mess and financial circles. The mar
ket seems to be preparing for move
ment in one direction or the other.
the indications being that the next
change in values will be upward rather
than downward. If. as is generally
anticipated. the crop report rs OF a
favorable character. the market should
show tirmer tone.
According to present Indications. the
farm value of cereal crops. based upon
the latest government estimate, should
be about s3,0OO00o.Oo0. figure slightly
in excess OF that of last year. due al
most entirely to the promising outlook
Tor corn.
Bankers generally feel more encour-
than for some time past; In the clean,
tng-up process. through which Wall
Street has recently been passing. the
banks have called in number OF loans
termed gilt-edged. The necessity OF
keeping down loans is fully realized.
The recent forced liquidation OF over
extended cliques has also had bench
cial effect upon the situation.
Reading was the stock most ACTIVELY
traded In to-day. 1t opened at 13S 1-S.
as compared with 137 H. the closing
price on Friday, and advanced to
t!onh gain.
Amalgamated Copper. influenced by
the Optimistic statement Of John d.
ryan ryan following his return from Eu "
closed a, es SIS. an advance sia OF : / Ia
points. Shelters advanced in sympa-
thy. and scored a net gain of 1-2
the top on Friday with gain OF 1-2
points. opened with an advance Of an
additional point. sold up to 1o2. and
closed at 10l rs. gaining 2 3-s on the
day. The strength of this security Is
attributable to rumors of an increase
in the dividend rate in the near fu-
ture.
southern Pacific gained Ii points.
closing at LIE. Union Pacific and North
ern Pacific each advanced fractionally.
United States Steel was up a full
point upon emphatic denials from the
management that neither the United
States Steel Corporation nor any of its
subsidiaries had the slightest intention
OF cutting the price OF rails $3.50 ton
as had been reported. The corporation
announces its intention of maintaining
the price of rails at s2s, the figure
which had prevailed since the forma-
ton. OF the company
on the Curb.
Trading on the curb was marked BY
unusual quietness to-day. and was con.
fined to a limited number of issues
Cobalt Central displayed cousiderab bic
activity and strength at the opening
but in the later dealings tho las a
reaction and loss Of l IL points
Part OF this loss, however, was recov.
cred. and the last sale was at IL. Miami
was strong and made new high
record. Greene Cananea and GirouX
were firm.
Bonds were neglected.