The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-06-07
New York
Stock Market

n. New York. June S.--A heavy tone
X characterized to-day's stock market.
and trading was lifeicxs Stocks
4 moved In hesta,ing way. and i'll no
important instances were the losses
i material. but the saEging tendency
which developed yesterday still pre-
vailed to-day and TO an extent sug-
sested that the recent upward move
ment had expended itself. for The
time at least. Buying orders were APP
parent OH all substantial concessions.
the support OF this character bcins
SO effective as TO Indicate that a state
or deadlock had been reached Tie
market was more narrow than of ire
cent days. even the professional trad
ers inclining towards q reduction OF
operations.
In financial as we'll as speculative
circles some disappointment is en-
pressed at the failure OF the public to
show greater interest III the market
Tor securities 1t had been hoped that
after the decisions in the antitrust
cases We're made known there would
be a pronounced revival in trading,
and for Il time there were Indications
that this change had taken place. This
outside demand. however, has fallen OF
abruptly. Aside from the continued
inquiry for bonds. investors manifest
ether than those OF the standard class,
an attitude which may hn due in part
ito the belief thai the prevailing level
Of proccssiis not especially attractive.
Prompted w kncwlcdss Of THIS son
diiion. the short intercs, continued its
operations tor the decline. hut stcci;s
were taken so readily al concessions
tina; tie bears were exceedingly wary. [,
Trading was made up largely OF pro-
n al rpsl toA
change in view as to the broader hnan-
cial and industrial situation.
Hesitation Of the market may be |
attributed 10 some extent to a desire |
10 await the Forthcoming government
crop report which is expected TO eN-
erciSe considera BILE influence upon SEN
timent The report will give definite |
Idea as to crop prospects. which is |
looked for with unusual interest. Since |
1T is felt that upon this factor more |
than on anything else Will depend the
chances Of general Improvement in in
Gustria conditions. The governments |
weekly weather report was favorable |
as whole, although IL showed that |
the lack of rain was still felt in Ger |
tain sections
Advices from the West reported d |
further cut in the prices OF certain
steel products. Better conditions in
the copper stocks, which were almost |
the only ones to show sustained
strength. Demand for these stocks
has been stimulated by reports Of
heavy buying Of the metal by the cleo
trica! companies and by the strength /
OF the foreign markets.
seSnrl'ies Of the american Tobacco
Company moved upward to-day. rhe
common stock. having declined l20 |
points since the rendition OF the to-
bacco decision. recovered - points Of |
the curb only to lose part Of its
gain The preferred stock and the
Z per cent bonds also made gains. In. /
dica tions that Il settlement in the local /
traction situation was at hand re-
suited in an advance on the stocks OF I
those companies. American Telephone
was strong in connection with reports
nat French bankers will take n large
block of this stock. following listing
of the issue of the Paris bourse III
Bonds were Irregular, with some |
hsaviness in speculative issues Total
sales, par value. s5.oa6,Ooo. United
States 2e and Is declined is and the
IS Ia on call
Total sales for the day. 4o7,4oo
shares.
New York. June s.-AIoney on cali
steady; l-+d2 10 per cent; ruling !
rate. 80: closing bid, e3-s, offered at
3-S, Time loans, dull and firm
sixty days. 2 1902 IA per cent; !
ninety days, a-4@s per cent. six
months. 8 l-+@s 1-2 PINE mercan- |
tile paper, 1o6 per cent. Sterling |
exchange steady, with actual business !
In bankers bills at s4.si25 for sixty !
day bills, and at s4S5H5 for demand. |
Commercial bills, S4.S3 10. Bar silver, |
81 Is Mexican dollars, 40.