The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-06-10
New York
Stock Market

III tii- \ ewit4 ork, June S,--ConSpicuouS
movements in stocks to-day were con-
fined to few Issues. most OF which
have been prominent for some time on
account Of their strength The rank
and file OF stocks. including the usual
market leaders. moved within narrow
limits and reelected no We'll defined
trend Speculative interest seemed to
have been dendened by the inability
OF either faction TO bring about pro-
nounced changes during the week.
Til. bear party. which has been un-
usually aggressive al times of late
and with indifferent success, made
few attempts to- day TO depress prices.
but the marke, displayed sufficient
strength to meet these attacks easily.
although prices We're forced downward
slightly several times during the day.
Neither the crop report nor the
monthly copper statement of yester-
day furnished the basis for specu-
latiye movement since in the main
they were in line with conserra tive
expectations The supplemental crop
report OF to-day summarized the sit
uation by stating that the deteriora-
ton in the general crop condition dur
Il
rs per cent below the average. In
This statement however, cognizance
was taken OF the relief afforded in
the period between the date on which
the crop figures were gathered and
the time Of publication of the report.
The report makes ii plain that this
Improvement was sufficiently marked
to justify still more hopeful fore
casts than might have been based on
Yesterdays sta tement "A
United states Steel was watched
closely again to-day on account of
the frequent assertions that 1t is the
object of attack of an unusually pow
erful bear combination. The stock
exhibited the same stolid strength
which has characterized 1t recently.
The chief points OF strength In the
market were Canadian Pacific, which
advanced 2S-S to 2421-4. new high
record; the lies. Tennessee Copper
and number Of specialties, such as
American Beet Sugar, Westinghouse
Electric, Western Union and Sears
Roebuck. All OF these issues gained
point or more. Erie, common, rose
to the highest point reached in year
or more
The sluggishness OF stock diverted
speculative interest into the bond
market, which exhibited the greater
relative activity. Large transactions
occurred in New York City i1-4s,
Atchison convertibles, Wabash Pitts
burg certificates and local traction
securities. The latter issues were in
tiuenced favorably by court decree
approving the REORGANIZATION plan for
The Third Avenue Railroad, which was
rejected some time ago by the Public
Service Commission.
Wabash Pittsburg Terminal certif-
Gates rose 4 points on the strength
OF reports that harmonious settle
nient of the differences which have
long involved this property might be
reached without further litigation.
The statement OF condition OF ma
tional banks, to be made as result
OF to.day's call OF the Comptroller of
the Currency, is expected 10 disclose
generally favorable conditions Loans
doubtless will show considerable re-
auctions. on account of the compare.
lively small demand for the require
ments OF trade. while the abnormal
ease OF money recently has been ac-
companied by pilinG up Of heavv
reserves 4 marked Improvement In
bank clesrings for the week was re-
ported. The total loss from last years
hgures at the leading centres.w ONLY
~ per cent. as compared with l4.5
per cent. in the preceding week.
known movements of money for the
week indicated considerable gain In
cash BY the banks. more than $4,000
goo having been received from the
interior, as against loss of more than
N,oooooc 10 the Subtreasury and ship.
ments of slo00,oo0 10 Canada.
Bonds We're Arm. Total sales. mar
value. s5,l2S,ooo, United States bonds
were unchanged on call Total sales
Tor the day. $4,000 shares.
New York, June 9.-Nioney on cali
steady. 2l-4a21-2 per cent; ruling
rate. "a; closing bid, las; offered
at 2l-e Time loans steady sixty
days, 2l-2g2S-4 per cent. ninety
days. 3-i3; six. months, sl-4@3l-2
Prime mercantile paper, 10 4l-e per
sent Sterling exchange steady. with
actual busine y in bankers bills az
500 for sixty-day bills, and at s4.S5S5
Tor demand Commercial bills, s4.sSi-2
Bar silver, %. Mexican dollars IL
Government bonds steady Railroad
@ bonds firm
FLESH RICHNONn sTnc1- >,,,-