The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-05-10
New York
Stock Market

3 New York, May with little de-
mand for stocks except for the uses OF
z professional traders. price levels were
{ barely disturbed today In the sccuri-
ties market Trading so far this week
z has been as slow and dull as was the
case during the long period of almost
Unprecedented dullncss early in the
year, and no great increase in activity
Ia looked for during the remainder OF
I the week, unless there are develop
ments OF such an important nature as
10 affect the market forcibly. The pres
Gnt disposition apparently is TO restrict
specula tive activity in view OF the
possibility that when the Supreme
Court meets nr7t Monday decisions In
the antitrust cases may be announced.
Desultory efforts at the opening to
depress prices hud SO little effect that
iraders changed their tactics and
operated for rise The buying move
ment was not we'll sustained, although
majority OF the leading Issues We're
fracttonally higher during the greater
part OF the day The market closed
under pressure, with Il mixture or
small gains and losses. United States
Steel led the market, interest iii this
issue being kept alive by speculation
as 10 to-morrow's monthly statement
Of untitled orders. There was some
evidence of short selling in this stock !
carly in the day, III anticipa ton OF the |
decrease in untitled tonnage which the |
report is expected to disclose but Of
fernEs were taken readily and the
stock held firm. The testimony sub |
mitted TO the |. c. c., i'll substance |
charging the steel corporation With
the exercise OF undue influence In con
nectLon With some OF its subsidiaries, |
- rs, ed "a
speculation. News of the reduction OF
tie Boston and Maine divident rate
Ga not reaeh Wall Street until after
Sas rlsrket had closed. The stock OF
80 Stw- York, New Haven and Hart
-et1 rs controlling company. which
rs S'sea wezk o. lste. declined point
IA= Sosicn snd Maine is the
ss;--.1 Eastern Ea;iroad 10 reduce lis
S..f-2as-; -E;. since the Interstate Com
49,. -so-.-riss!on refused to sanction |
= :a< proposed increase in freight
rttsS- i.t New YORK Central being the |
81 S=7o-ts that similar action |
WorEE - TAKEN BY the directors OF 9th.
rat1s hAye been frequeh,. but In
tlzost srs.y ease these reports have
s.s- -asi Eith oeniais, although num- |
he. g .1-se systems have not earned |
- amount ct their dividends during |
lht las; fev- months Important re- |
aa1iioas il operating expenses have |
>'STE. PA !,alo siisct Within the last few |
weeEs, ara with the Improvement In
lreAc which the railroads look for
curing The summer and fall II is non.
GO that further dividend reductions win
be avoided
There vas some activity at higher
prices In such Morgan issues as South.
ern Railway preferred and the Fries
me movement In the latter helm al
tenoed By rumors of supposedly fay
ora hle character. marlborough Metro
politan securities were prominent es
result of the latest subway proposal
OF the company The buying nova
ment In the American can Issues which
began yesterday was continued to-day
and both tho common and preferred
made further gains during Ira dnv
me Hartman stocks were steady. al
though the widely circulated renort
mat Union Pacific directors were 10
Recommend an issue OF $4,000 600
common stock was denied with The
statement that no definite decision had
. peen reached as TO what steps would
ne taken to meet the roads financial
requirements. 3i ~
Sonds were steady. Total sales mar
value sS.oo1 900. United states rov.
ornment bonds were unchanged on
Total sales for the day. 1880
New York, May e.-Nloney on cali
steady. 1-l62 as per cont; ru,,np
rate. 2 II; closing bid, IL; ofrere1
at. As. Time loans a little more nc.
I'VE, sixty days, .l-2 PER cent; ninety
u y,a "a siS months. 3 per cent.
irl'ne mercantile paper, {; Ia 10 nor
cent Sterling exchange steady vii,
actual business III hnnllers' bins a.
sf's4?o for siNtY-day bills, and s4sel9l
for demand
Commercial hollis. s4.sa rs. bar su.
W. % -. Mexican dollars. As.