The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-08-04
New York
Stock Market

New York, August 3.-The stock
market to-day made several attempts
TO recover from the heaviness of the
preceding session. and some ground
was regained in the course of the day.
but the weight of the selling movement
in the hnal hour drove prices to the
lowest level of the present movement.
IN the initial trading the list sustained
further declines, despite the better
tone OF our securities in London. There
was marked weakness in the cop.
pers Southern RAILROAD shares and
number OF industrials of minor i'm
pUrtaUcc The decline was arrested
for time in the early session, when
buying OF the standard stocks and
speculative leaders impelled extensive
short covering. and prices soon We're
wei above yesterdays final quotations.
On the rise, however. the market be-
came very. dull, fact that was not
regarded as hopeful augury for the
account.
During the frequent periods OF stag
nation on the eNcha..-c to-day gossip
was busy with the causes or reasons
which have brought about the reversal
in the market Rumur ASSIGNED the
short selling TO the operations of
Western grain trader. while the liqui-
dation was attributed in part to dis
sipated Offering of local operator,
who IS currently reported to have suf-
fered severely on the bull side OF tho
cotton markc, Neither rumur was
contirmablc. although both possessed
the elements of plausib!lity
Among the Incidents of the day
which tended 10 exercise a restrain
ine influence on bullish activity was
the further weakness of standard oil
on the curb. the stock making IA net
decline Of Pile points on unusually
heavy offerings News from Washing
ton that the Attorney General is soon
to submit TO the Treasury Department
his report dealing with an inquiry
into the formation of securities
company" recently organized as an
adjunct to one OF the largest national
hanks in the country, also furnished
food for reflection. Yet another deter
rent was found in dispatches from New
England, telling of the indefinite shut
ting down of perhaps the largest cot
ton mill in the Fall River District.
while further curtailment was re-
ported by the textile concerns oper-
sting in North Carolina
Heaviness in the copper shares was
partly explained by the reports pre-
scented by several leading companies.
Much OF the days crop news was of
an unfavorahle character.
An Offset 10 these adverse factors
was found in cables from London.
which stated That possible basis Of
agreement in the Moroccan situation
had aoen reached This news evoked
no response at the British capital. how
ever. where some uncasiness appeared
20 be felt respecting home banking
affairs The weekly statement Of the
Bank of England was practically un-
changed as "a its liability reserves.
but its total reserves fell over slo.-
100000. with loss of $4,000, 900 in
bullion. The statement OF the Bank
OF France was interesting chiefly for
its increase Of almost $4,000, 900 in
loans and discounts.
The bond market again followed the
stock market in its irreeularity
Total sales. par value. were s2.oS5ooo.
United states government bonds
were unchanged on call
Total sales for the day. 400. 500
shares.
New York, August S.-Monev on call
Steady. pa l-2 per cent. ruling rate
GAS, closing bid. 23-s; offered at
2l2 Time loans firm sixty days.
o2-+G per cent: ninety DAYS. SGS1-4
six months, 32-4T3 SIS Prime mer-
camille paper. to il-2. Sterling ex-
change steady With actual business In