The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-05-19
New York
Stock Market

New York. May 4 ST. Extensive rrott.
X. takinE sales to-day checked the rand
advance in stocks which hogan ,f,.r
the excitement Of the Supreme co,r,,s
standard Oil decision and FAR o,,t
stripped any similar movement or the
year kcaii2inS was iii progress ali. day
iong, but the demand MAS stif,icicnijv
iarse TO absorb all offerings In tho
4 hFsi part of the session substantial
.aihs We're made, many OF the active
issues moving up i point or more Tho
buying lacked the enthusiasm IF he
Two preceding days. ana at midday
'raulnE fell OF, Professional traders
were ranged on the selling side. and
theM were able 10 exert sufficient FORM
4 When the markets buying power
diminished to halt the advance ana
or'hs anout modera, e recessions. The
tone was hesitating during the latter
part OF the day. and the market fvll
pack from its high point. although
prices We're reduced BY only small
fractions. The change in tone was
uue TO technical conditions rather than
10 any reversaijof sentiment. Union
Pacific had advanced B nearly seven
RENTS from its close OF Monday to
lis price OF to-day United states
Steel gained nearlS five points. ana
Reading four, points. Almost every
stock IN the list sold al q figure which
offered proiits sutficientiy attractive 10
bring on ic!day's movement,
Speculative interest in United states
Steel was undiniiIished and i, again
ied me market in point OF activity. At
times dealing in this stock Was very
active. pull traders buying 5000 OF.
4.up9 snare lots other steel stock
were strong Bethlehem steel scored
" a good advance, and Colorado Fuel
which has been inactive for several
weeks. was one OF the strongest issues
While the movement in United States
stee. wes largely speculative. the steel
stocks were helped by reiterated re-
ports of better trade conditions A
numher OF railroads are expected TO
enter the market shortly, with. in
quiries for large amounts of material
Strength Of the copper group was
married Amalgamated Copper and
Anaconda improved substantially. aud
American Smelling gained nearly two
points c its high price of the day
The strength displayed BIZ these issues
was ascribed to the firmness Of the
COPPER metal market here and abroad
and TO an unconhrmed report that the
copper merger projected some time ago
would be brough; about in the near
future. American Smelling, which has
extensive interests in Mexico. benefited
also from prospects OF peace in tina,
country.
The money market vas notceably
stronger to-day, owing to the in
creased demand for funds for stock
market purposes Time funds have
been about normally low for several
months, and the inact'vi',; OF the Sc
curities market has been generally as
signed as important cause OF this con-
dillon lfthe pronounced revival of
business in the stock market results in
q continuance of trading on large
scale ii is expected that the money
market Will undergo a modera te
transition. Activity in the bond mar
ket continues unaba ted. as is shown by
the rapid absorption OF bonds. 4 ease
in point IL the almost immediate saie
to-day OF about sIs.Ooo.oco 81 central
New England Railway bonds 4 fur
Their Shipment OF gold 10 Canada, in
this instance $i.ooo,0oo. was arranged
to-day s
A The continent traded actively in this
market, but its transactions We're
without great influences. being divided
almost equally between sales and pur-
chases The Bank of l2nglands week
ly statement showed a gain in the
proportion oil Liabilities 10 assets
bringing up the percentace TO 5le5H
The Bank Of France reported moderate
gains in gold and silver.
The bond market WAS firm. Total
EaleS par value, Sa,StS,O0u
United States bonds We're unchanged
on call
Total sales for the day. s4s.soo
shares
New York. MAY iS.-AIoney on call
steady 3-sd2l-2 per cent: ruling
rate, ? 3-S closing as offered
at l2. Time money strong, demand
Increasing and lenders withdrawing
frf,, . l.
cent, ninety days, ? 3-4m3 per cent.
six months 1893 l-o
Prime mercantile paper ) l-2 10
per cent Sterling exchange iirm, with
actual hys!ness in bankers bills at
Si.Ssso.J. fds .!sl>.ty Gay Bills and al.
SisS3p '7;l S6$S for demand CONNER
cial bills. Si,s2 is Bar silver. IS "a
Mexican dollars 49,