The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-10-21
New Y ork
Stock Market

New York. October 2O.-Erratic
movements again characterized the
stock market to-day, although IL ex-
hibited consistently Arm undertone.
Prices seemed to nuctuate In response
to no well defined changes in opinion.
which remains confused and uncertain.
Changes in consequence were often
perpleSing, and could be attributed
only to the varying fortunes of large
speculative interests. whose operations
have been expanded considerably in
the last few. days. The market closed
with substantial gains. ranging from
to points among the active stocks.
but the advance seemed to represent
more the temporary advantage OF one
faction than a genuine enhancement
of market values.
Although activity increased on both
sides of the market. the bears were
not able to bring about such periods
OF weakness they produced yester-
lay. According to the gossip of the
street, large pool was at work in
United states Steel Whether or not
there is any ground for such a report,
evidences of manipulation in various
parts of the list were plain. Bears at
tackled the market energetically in
The early trading, but made little
Roadway Selling at the outset was
unusually heavy. More than 10000
shares of United States Steel were
thrown on the market within the first
few minutes. but although the list
weakened somewhat, IT soon recov-
cred. After series OF uNimportant
fluctuations the market took on re-
newed activity before the close, and
In the last half hour prices were car
lied up rapidly.
The metal stocks were most conspic-
uous Transactions in United States
Steel constituted one-half of the total
mornings business. The copper stocks
lfter several months of inactivity, be-
came prominent in Speculation. Anal
gamated COPIED advanced points on
heavy dealings. and Anaconda, Ten
nessee Copper. Utah Copper and Amer
lean Smelling gained a point or more
While the movement in these stocks Is
largely speculative. 1t has a basis In
current conditions in the copper metal
trade Sales OF copper continue on
large scale for both domestic and for
eign delivery. and prices have been
quite generally advanced by produc-
ers and selling agencies. Although
sales thus far this month are esti-
mated at more than 100000, 900 pounds.
81 large increase in surplus stocks at
the end of October is expected
Declarations of an initial dividend
on American Beet Sugar common
placlnE II on per cent. basis, had
been discounted some time ago. al
though the stock made u further ad-
vance TO - "a, its highest price on
record. Allis-Chalmers recovered part
OF Its recent loss. The movement was
not pronounced in the per cent
bonds, which gained more than
points.
Trading in bonds was on smaller
basis to-day. Prices improved after
carly irregularity. Total sales. par
value. $4,000. 900. United States bonds
were unchanged on call.
Total sales. $4,000 shares, including
Amalgamated Copper. 80. 900. American
Beet Sugar, $4,000; \. C. L., 500: C. &
D.. 400; l. & ~, 800; y. & w. 800;
Reading, 97,700; Southern. 800; Ten
nessee Copper. 500; Union Pacific, co.
900: United States Steel, csS.Ooo; Va
Car. Chemical, 500.
New York. October 2o.-Money on
call steady. GRACE per cent: rul-
Ing rate. S-s; closing bid. AS: Of
ferred at l-2. Time loans steady six
~ days. l-iqSl-2; ninety days. 3l-2
f33-4: SIX months. 31-2@23-4 Prime
mercantile paper. 4l-2M43-4 Sterl-
ing exchange Arm. with actual bust
ness in bankers bills Mt S4S325 for
sixty day bills and at Ga.s6So for de-
mand. Commercial bills, s4.soi.2 Bar
silver "a 81 Mexican dollars. IS.