The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-20
New York
Stock Market

New York, July ls.-The upward
movement in stock which began late
yesterday was resumed to-day, al
though further advance was less Wig
orous than the hurried return of the
previous session. For the first time in
several weeks moderate degree of
outside business was reported and
transactions mounted up to the larges t
total of the month. The movement
was easily the most comprehensive of
any for weeks past. and while COW
ering of short contracts played an i'm
portant part, investment buying APP
parently was IA contributing factor. The
demand for this purpose was stimulat-
ed by yesterdays sharp rise. which
seems to have originated in bclated re-
cognition OF the favorable crop outlook.
together with the more favorable turn
IN the local subway situation.
Some new high records for the year
We're reached, including Union Pacifiic
which rose more than a pointib TO 100
S-4 and Canadian Pacific which
once more sold at the highest
figure In its history. advancing a point
10 2i6 "a. Buying of the Hartman is
sues was among the days most i'm
pressive futures, all offerings being
taken freely. In fact all the higher
grade railways We're in demand among
others the cotton carrying roads. Many
OF the prominent railroad stocks and
some OF the indnstrials ranged a point
or more above yesterdays closing fig
cures during the greater part of the
session.
Late in the day gains were reduced
by profi taking and resumption OF
short selling The market withstood
the pressure fairly we'll. with the ex-
ception OF Reading. which lost all of
its gain
United States Steel was the mos, &C
tive stock. and sold Mt above so. touch
ms its highest price for some two
months According to board room COS
sip, orders for this stock were re
ceived from out of town points, in
Guiding Pittsburg The movement In
United States Steel Was coincident with
the return from abroad of the presi-
dent. who made some optimistic COM
ments on trade prospects. The weekly
iron and steel reviews noted mark
Cd Improvement in conditions in the
Chicago district, although in the East
there was little change
The several Issues of the Inter
borough metropolitan Companies were
prominent in tho days dealings In
terhorough- Metropolitan preferred and
the l-2 per cent bonds scored the
largest advances. Late in the day II
was announced that the expected set
Element of the traction negotiations
had been reached, insuring the award.
ing of subway contracts to the com
pany.
The full report OF the countrv's
foreign trade for the month OF Juno
and for the completed fiscal year made
the expected good showing. The excess
of exports for the year Of s52o.7o6 600
has been exceeded but five times In
the nations history. and. with one ex-
copton is the largest In a decade
In no branch of the securities market
was the revival of activity more mark
ed than in bonds The demand was
fairly broad New York As. which
were under pressure Yesterday par
tally recovered to-day. The total sales
fpar value) reached the unusually
large total of s6.3a6.00o
United States honds were unchanged
on call.
Total sales for the day, 455,7oo
shares
New York, July 19.-Money on call
steady, . l-iTo IL: ruling rate as
closing bid. SIS; offered at l-o Time
loans steady; sixty days, l-262 S-4:
and ninety days. 7-S6 3 per cent. six
months money, 5-SdS "a.
Prime mercantile paper to 10
per cent Sterling exchange steady.
with actual business In bankers bills
at Sis46o for Xty-day bills, and at
s+.S620 for demand. Commercial bills,
s4Si Ear silver, 80 rs Mexican dol
lars AZ