The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-08-10
New York
Stock Market

New York. August s.--ln its salient
features io-dav's stock market was
largely repetition OF the preceding
days, Prices moved in way susses-
tive OF further liquidation. after which
they recovered only 20 decline again.
The undertoae was uncertain al best,
and clearly reaecte the various aSen-
cies. agrcuiiural commercial. indus
trial and political. which are now such
compelling factors. There seems. to
he increasing doubt in banking quar-
tiers regarding the revival of general
trade IN the tall. and the labor Situa-
lion particularly in its application to
the transportation companies, Is loom
ing large. There We're no definite de-
Nelopments in this latter connection
during the day but adv!ces from va
nous sections OF the country pointed
TO the possil il!ty OF strikes or lock-
out; on the Hartman lines. the Gould
system and the ROCK Island ana I'LL
nois Central roads. THAT the railway
Cpmpanies VIII meet the issue without
Hesitation or faltering was gathered
to-day from the heaa of one OF the
largest railroad systems in the coun
try
Other news Of the day included an
purposes to issue si00.000,o 600 of COM
mon stock ana some moro convertible
bonds, The stock. Il is said. is not
Intended for Immediate use but rather
as an emergency measure. Should the
company engage in any new financing
.his year, II probably viii 90 50
thronsh the medium Of some of its
bonds. a large amount OF which is
nV2:!a Die for this purpose.
The market Cell into apathy during
the early afternoon, when prices de-
clned to Yesterdays low level. and in
some Instances below. more from in
trt:a than FOR any Uher reason
.o, hs'pr r35oC o. the me- cF9p TSp9rt we're In
was expected, and their publication
was followed by another raid on the
market which sent Union Pacific an
der Yesterday. with sharp declines in
the srs'n carriers. The decline was
orderly at first. with little Indication
nf bear propulsion, but In the last few
minutes the selling gathered such .nu=e
proportions that prices crumbied away
movement. There were faint rallies.
which failed to arrest the fall 10 any
Rppreciahle extent, and the closing was
est IN complete control Of the S!tua-
americans we're heavy in London.
and LondoI's own markets were not
!aaor situation In that country beinr
responsible for further lecli"es in
home, rails London was at hrst IN
ci!ned 20 renew purchases in this mar
ket, but later IN the day turned seller.
Its sales on balances probably aEgre-
eating about 10000 shares Discounts
svneed further hardening tendency
In London
The weekly statement Of the Bank
Of Germany was notable only for its
decrease of more than s22.0OO.o00 in
loans and discounts.
The bond market was directly af-
reeted by the movement of stocks.
Totai sales. par value. aggregated
Sl9O2000. United States government
honIs We're unchanged on call
Total sales for the day. sol $40
shares
New York. August o.-Money on call
steady, At "a l-2 per cent: ruling
rate. 3.S closing bid. as: offered
at i-e. Time loans frmer: sixty DAYS.
: SIG liz ninety days. 2 Ii Sin
months, 3 I.5G4 Prime mercantiie
paper +@i -. sterling exchange
easy, wish actual business in bankers
hllls az Si.SSl5 for sixty day bills. and
az siS595 for demand Commercial
htlls, Si.S3 Ia, Bar silver, So is
Mexican dollars. 50.