The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-14
New York
Stock Market

stocks fell 10 almost the lowest point
OF the year to-day. Transactions for
the entire session were only ll5,4oo
shares. as compared with the years
low point o. 10000 on April -. when
the market was awaiting the Supreme
Court decisions in antitrust cases.
The movement of stocks was CORE
spondingly narrow. The tone was
fairly firm. however. and the move
ment, on the whole, was on the con-
structive SIDE. even though some OF
the small advances were in issues
whose influence on the market has al
ways been OF little weight.
Among the railroad stocks. North
western was strongest with a gain
of a point Interborou gh -Metropoli-
tan. preferred, led the fractions. with
nm advance of two points. while among
the industrials, American Beet Sugar
Showed nearly as much gain al one
time. and Virginia Carolina Chemical
rose a point The advance in Inter
borough Metropolitan. preferred, rep
resented a continuance of the recent
speculative buying on the improved
Prospects that the company will re-
ceive a share of the subway awards
Settlement OF the situation was again
deferred until next week, a; least. and
the report OF the possible withdrawal
of Brooklyn Rapid Transit from furth-
er negotiations was reflected in a set
back for that stock. The further de-
cline of five points in Texas Oil was
ascribed to the serious illness Of a
prominent operator. whose initiative
has thus far shaped its destinies Bal
timore and Ohio rose fractionally on
the news that the directors had de-
clared the regular semi-annual divi-
dend on the common stock Despite
the Disappointing showing made by
10
however. no reduction in the rate had
been generally looked for.
Trading in bonds. while relatively
more active than stocks was dull The
market for this class Of securities has
been falling off gradually during the
last month. Disbursement OF July In
terest and dividends failed to quicken
81 is apparent that the market has
suffered from the heavy offerings of,
Il few weeks ago. Institutional buying
has fallen 10 an unusually low point.
banks and other institutions having
satisfied present requirements. Rela
lively few Issues OF securities appear
10 be awaiting announcement, many
corporations having taken advantage
OF conditions which have prevailed In
the money market for months to obtain !
needed capital.
Some excited dealings in Porcupine
mining stocks on the curb were occa-
stoned by news Of the disastrous for |
est fire which damaged mining prop
erty in that district. After an abrupt
decline in almost all OF the leading !
Porcupine issues. the stocks became |
Quieter on a higher level
London took little part in this mar
ket, trading for that account being es-
timated at $500 shares. The weekly
statement of the Bank of England
showed an increase OF $3.50. 600 in
reserve. the proportion OF reserve to
liza bilities advancing nearly per cent
to s52.l3. The Bank of France re-
ported a decrease OF s2,4es. 900 in gold
and silver and a falling Off OF nearly
SS,6oo,0o0 in advances and bills dis
counted, The bond market was steady.
Total sales. par value. S2.0s3. 900
United States bonds We're unchanged
on call.
Total sales stocks to,day, 1890
Shares.
New York. July l3-Money on call
steady; . l-462 IL per cent: ruling
rate. 3s closing bid. Ii; offered
at . 3-s. Time loans hrmer sixty
days, l-2 per cent. and ninety days,
2 3-i@3 per cent. SIX months, 5 100
SIS. Prime mercantile paper. iG4l-o
per cent. Sterling exchange steady,
at decline. with actual business in
bankers bills at s4.S465 for sixty-day
bills and at s4s625Gs4 $3.50 for de-
mand Commercial bills, s4s4. Bar
silver. So. Mexican dollars. is.