The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-06-25
New Y 0rk
Stock Market

New York, June 2i--The stock mar
kat fell into depression again to-day
under the combined influence of re-
newed reports OF crop oamase and of
the publication of Attorney General
Wiekershani's speech in Chicago.
The close correspondence IN the
Speculative movements IN grain ano
stocks was seen in the course of the
enrly fluctuations In the market STOCKS
started higher and wheat started low.
or. The rains In the spring wheat
territory were the dominant iniiu-
cnce of both movements. When wheat
commenced TO advance stocks began to
decline AT the same time reports OF
extensive damage not onlS to spring
wheat but corn began to- come into
Mall street In a flood The private
experts In the employ of commission
houses active both in grain and IN
stocks were authors Of many OF these
reports, and parallel speculation
seemed to be going on in the two
markets for higher prices for grain
and lower prices for stocks: COM
htnntion of activity not at all unusual
during the critical period of theScrops.
This phase of the speculation was in
clined 10 make much of the weather
forecasts for clear weather in the
Northwest and of the chance of a
growth OF apprehension over the sit
aation during the coming Sunday in
terval
The manner in which the subject of
government control of capitalization
was treated by Acknowledged
seemed to appeal with no force to
operators in stocks
The circulation OF advance copies of
the address, subject to publication only
of many arguments and contentious
heard before in connection with the
agitation of the subject. did not de-
tract from the grave Importance at
tached TO the paper Apparently the
determination voiced by President Taft
in yesterdays statement and indicated
In the Attorney Generals argument, to
make aggressive efforts toward secur-
ing the desired new legislation In the
coming session of Congress, offered
ersham's advocacy of use of the ma
tional power ito correct every evil of
a public character which experience
demonstrates to be susceptible Of only
by national legislation" was seized
upon to indicate broadening SCOPE
for government pursuit of corpora
tons
There was a supposition that the
pressure of stocks. believed to come
largely from professional sources had
In 1T q provocative purpose to bring
out support from the financial party
credited with desire to see stocks
advance. The arrival at his office OF
Pierpont Morgan for the first time
after his annual homecoming was al
incident with the most active selling
movement of the day.
preliminary estimates of the week
currency movement indicated a fur
Their large influx of cash to New Yorl
from outside sources, the margin owe
the absorption from the market b
the Subtreasury running to severa
million dollars.
Sterling exchange bills declined a
one time several points below the loN
! point of yesterday. although some In
regularity developed in that n.arke
at this further decline. The imni
hence of the half-yearly settlement
sIeadied the London money market /,
some extent, but the expectation hold.
of period of extreme ease of none,
at that centre after the turn of TIL,
fa1f-year.
Ronds were irregular. Total sales
par value. s1.85S,00O. United States
bonds were unchanged on call
Total sales of stocks for tho da.
Were $4,000 shares.
New York, June 24,--Money on cal
1908 per cent: closing bid, , l.;
offered. IL Time loans flrrer an
dull: sixty days. 3 per cent. and ninct
- : - s's months : -
Close: Prime mercantile paper. g.
as IL per cent Sterling exchane
hrrn at recovery, with actual bushes
in bankers bills at s4,s4406 S4.S460 II
siEty-day bills and at si.SG15 Cor dc
I1and. Commercial bills, S4.S3 81:
q 81. Bar silver. SO IL. Mexican do
lars, IA