The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-09-01
New York
Stock Market

New York, August 31.--Tlle month
Of August came to dull and uninter-
estine close In the stock market TO-
day The dealings lapsed into idle
ness. and prices drifted listlessly. No
one showed Willingness to take de.
cIdcd stand in the speculation. The
plumber OF developments anead, when
are deemed important from the specu-
Iative standpoint might account FOR
the determined waiting attitude. The
early part OF September Is to bring
the government reports on the various
crops, the Copper Producers Associa-
tion statistics. the United States Steel
Corporation statement OF untitled 80.
mage orders on the first OF the month,
besides various political events. for
which A growing interest Is being
shown in the speculation. lhe end OF
the present week brings triple holi-
day to bridge an interval before these
expected events begin to occur. some
occt,< alton was provided in the fnan-
cial district in the preparation for the
monthly money settlements. other
wise, the disposition was to sit and
await events.
Tho September payments will amount
TO sse,4ss.0o0, according to the compu-
tation of the Journal Of Commerce. and
the amount is s12.o4a.o00 greater than
IN September of last year. with sS.H'a,-
600 of that amount on account OF IN
creased dividend disbursements. me
growth OF prosperous conditions thus
implied has some effect IN maintaining
the firm nndertone of the almost lie
less market The remainder OF the
Increase for interest account is due
to the addition to bond and note rs
sues since last year.
various companies published their
annual reports In the course Of the
day, and here also was seen an en-
hancement OF profits, which was re-
Elected in the upward movement OF
several Individual stocks. The strong
current OF the cash movement away
from New York was a factor In the
suspense In which the speculation IN
stocks was held. Subtreasury opera
lions have taken from the banks al
ready since the last bank Statement:
ss.4so. 900. and shipments to the IN
terror and to Canada are being mace
on A large scale. The effect is showing
IN the rates for time loans, which
have been marked UP fraction, and
IN the call loan market which is rui-
ing appreciably frmer. in spite OF the
almost purely nominal demand In that
department. The private discount rate
IN Berlin declined. but the action OF
the London discount rate left opinion
divided over the probability of an adj
vance In the official rate OF the Bank
OF England tomorrow. The foreign
exchange rate here rose again away
from the point OF profit on gold en-
raeements in London, to which 1t was
tending The late course OF the Tor
eign exchange market was taken AZ
indicative of likelihood of a rise II
the English bank rate
The character OF the testimony he'n'
offered by railroad officials in the rat
hearing before the Interstate Com
merce Commission invites to discus
sion In the stock market and to YER
m,Sed views as to the probable effec
on stock prices.
Any strengthening of chances 10
higher freight rates makes for hiEhe
prices OF stocks, but the argument
offered on behalf of the plea for highe
rates are calculated to depress values
The conflict of these factors is an ele
ment in the hesitation shown In tn
speculation.
Reading. Union Pacific and Unite
states steel again absorbed the bull
y. the dealings Aggregate sales {
all stocks fell to a total OF 10000
snares and when from this is deducte
the $4,000 shares Of the three activ
stocks mentioned. the narrowness c
the general market may be apprec
nted. There was day in July. 1901
when the days sales reached only So,
600 shares To-day's total was tn
smallest for any day since.
Bonds were irregular. Total sale:
par value. s1.252.0oo. United state
bonds were unchanged on call.
Total sales of stocks for the da
we're 100000 shares.
New York. August s1.-Money o
call easy: highest, per cent: loves
1874; ruling rate, "a; last loan,
closing bid, "a; offered at -
Time loans very dull and steady; siNt
days, 31-4@31-2: ninety days, pc
cent; six months. 43-4 per cen
Prime mercantile paper, Sig to pc
cent Steriings" exchange firm Wit
actual business in bankers bills =;
s4ss35ms4S35o for sixty-day bills. ar
at s4.s640 for demand. COMMERCE.
bills. s4.Ss@s4s31-2. Bar silver, 81 B.
Mexican dollars IA