The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-09-21
IN w York
Stock Market

New York. September 20..-The mar
row limitations of the present stock
market were marked again to-day by
exhausted themselves before going far
in either objection. The wholly profes-
sional participation in the trading
serves to explain this restricted move
and falling to develop any response
either in the way of selling from
genuine holders or OF demand intended
TO extend over the days end. the
courage. of the trading element does
not suffice to carry operations beyond
the danger line of small losses, The
settlement of large questions is await
cd with determination by the large
financial Interests before attempting
any important transactions in stocks.
The early advance was partly In
response to the London market. which
took UP the late recovery here, where
II left off yesterday and pushed II
somewhat further Buying fer London
account was a factor in the strength
shown at the outset here. The higher
prices brought in realizing sales and
reaction set in The decline began
about the time the finance committee
of the United States Steel Corporation
was ready TO go into session. and that
stock led the movement The fall in
price was not continued to the end
OF the day, and the net changes again
good, both in the immediate advices
from the field and in the weekly buile-
TIN of the Western Bureau reviewing
past conditions. a rise in the prico
reports of curtnilment of output by
one of the copper mining companies
of secondary grade was pointed to as
an encouraging development III the
in circulation of the proposed entry
into the lnterboro- Metropolitan Com
pany of important banking interests.
and on these rumors there was palpa-
BILE realizing at the advance whit:h had
occurred in these stocks on preceding
days. The movement was partly re-
sponsible for the realizing in the gem
cral list which decided the later tone
of the market.
Reports of lessening demand for
steel products. OF increasing compe-
tition for orders. and OF coming fur
Their reductions in the prices of lead.
ing lines were kept in circulation and
helped to dcpress United States Steel
with sympathetic effect on the general
list. The proposed large increase in
Oregon Short Line stock came as
surprise. and market sentiment was
rather at loss to interpret its signi-
ficance or its effect on Union Pacific,
rs the owner of the existing stock and
the proposed taker of additional stock
when 1t shall be issued.
Conditions in the money market We're
without marked changes. There was
decline In the private discount rate
in London and foreign exchange rates
here were lower An increase was re-
ported in the supply of cotton bills
offering IN ,he exchange market, and
the demand for remittance Is light.
There is an Improvement in the bond
market. which is barely perceptible
from day to day, but which becomes
more discernible when comparing one
week with another. The tone to-day
was firm. Total sales, par value, ST.
10000. United States bonds We're I'M
changed on call.
Total sales of stocks for the day
were 352,600 shares.
New York. September 20.-close:
Prime mercantile paper. 5 20 to g per
cent. Sterling exchange steady, with
actual business in bankers bills, at