The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-09-06
New York
Stock Market

New York, September 5.--Beginning
the day with a severe shaking up.
with prices depressed by the unset
tling OF European liquidation. the
stock market made up its losses and
advanced further. Before The close.
on> of the most comprehensive up
ward movements in several weeks oc-
CURED, in spite OF the fact THAI the
demand was SO limited that trading
throughout was on i comparatively
small scale.
While nearly all the more Import
ant issues developed weakness at the
opening. the stocks in which there is
the greatest amount OF active inter-
national interest sustained the most
severe losses. Ihc declines here were
somewhat smaller than those record
ed in London, before the opening of
the local market, and in Lonoon the
drop was ascribed to Berlin selling on
account Of Moroccan situation. Cana
dian Pacific. which lost four points in
London, dropped 3 Ia per GEM. on
London and Berlin selling. Baltimore
and Ohio. southern Pacific. Reading
and Union Pacific We're supported from
the same source. The lower prices
established by this movement promp,-
ed short covering. and the list soon
rallied. The advance was continued
steadily 10 the end of the session. re-
sulting in net gains Of ! TO . points
in q majority OF the more prominent.
issues, as well as in g number OF the
lesser known industrials
The Improvement in the market re-
sultIns in 4 ~contlnuutiIn of the up
ward movement which began la-.l
week. apparently was due largely TO
short covering Stocks were in small
supply, and the fact that the recent
gains have resulted in no large Of
terings seemed TO increase the de-
mand for short covering, and as the
day progressed the inquiry became
more urgent. While short covering
doubtless was the chief Cause OF no
vigorous upturn, there were indica-
lions OF increased activity or the long
side.
The tact that American tobacco Sc
euEities were unusually strong
throughout the day, the preferred
and the bonds abou, ?, was a.
strengthening Influence in the geperall
market. Advices from abroad in re-
sard 10 the in~ternat!ons! polit.calI
situation were more reassuring, butt
uE~easiness N regard 10 the la b sit
u4noH on Western railroads was not
diminished The influence OF TINS
iaetor upon the stock market un-
aouoted!y Will be felt plainly un,.l
the crisis is past
OWNS TO the present uncertain
state OF trade, much interest attaches
TO the forthcoming report OF unnIleul
orders OF The United States Steel Cor
3oraiion as OF August ST. 1t is eN-
pected that the statement viii show
i considerable increase over this pre-
Nious month estimates placing The
amount 81 10000 to $4,000 o OF
metals OF the corporation wefe quoted
to-day as stating that they did MOI,
look for 4 falling off in business dur
Ing the current mont Resumptton
OF work by a number OF New Eng
land textile mills was reported. al
though this is nothing 10 Suggest a
DEFINITE ending OF the conditions under
which that industry has labored for
many months.
value. S2,375.oOo. 80
United States rs advanced los on
Total sales for the day. sss.soo
New York. September S-,ronev 81,
call steady. . l-SQ2 as per cent. rn,.
Ing rate. : Ia; Closing bid. ~
Tered Al . IL. Time loans stea5v
siNiy days SOS IA per cent: ninet,
GAYS, 3 l-i@5 l-2; six months, 3 a.
l-e per cent. Sterling -exchanrs
s'eaoy' with actual business in hank
ers bills at s4s325 for sixty-dav
oiils, and at S+.S6 fer demand. Co...
meTcial bills. S4S2 l-2. Bar silyer
% SIS. Mexican dollars. IS. Govern'
ment bonds hrm. Railroad bones
hrm