The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-10-07
New York
Stock Market

New York. n. Y, October 6.--Thc re-
dictionary tendency which has appeared
IN tho stock market this week received
added impetus to-day from President
Tafts utterances in Idaho concerning
the policy of the administration toward
corporations. The Chief Executives
full combinations must go on. and that
the administration would not seek to
avoid the responsibilities which the
law clearly imposed upon it, while in
Its essence a reiteration of his we'll
known views was followed by n vigor-
Gus assault upon the market. The Presi
dents remarks deploring demagogic
attacks upon corporation interests and
asserting his intention 10 stand by the
railroads, so long as they oSeyed the
laws and kept out OF politics, went un-
needed. II was commended that the
speech would create renewed uneasi-
ness. and that it demonstrated con-
clusively that no change in the policy
Of the administration was TO be eN
nccted. The market sold off and was
Heavy through the remainder OF the
Jay.
Selling quite naturally corycrged In
United states steel, owing to the recent
violent movements of this stock, and
the uncertainty as TO whether the gov
eminent contemplated the fling of
suit for dissolution of the Steel Cor
pcration- The stock gave way before
the attack and ended the day nearly
two points below the previous days
close
Trading was slow throughout the
day. Tho demand was limited, and the
market offered little resistance to pres
sure Whenever symptoms OF pro-
nounced weakness appeared, however.
support was given EFFECTIVELY, and bear
traders did not venture to attempt
large operations.
Restoration OF United States Rubber
common TO the dividend paying list
had only temporary effect on the
. a. II discounted
we'll in advance. Expectations of
dividend upon American bought sugar
We're not met. but in spite of that fact
the stock was exceptionally active. and
/ closed With small gain. Increasing
indications of am earnest fight against
the dissolution plan of the American
officials of the so-callcd Wall Paper
Trust contributed to the markets un-
settlement There was heavy buying
of London rcnttances. and the foreign
exchange market ruled strong through
out the day No further gold exports
We're announced. but the banks still
found abundant opportunity 10 employ
their funds advantageously abroad.
rates at London and Berlin still ruling
above those at this centre. The effect
or recent gold exports Will be reflected
in the weeks bank statement. which
is expected TO reveal considerable
loss In cash.
Tho bond market was firm. American
Tobacco issues were heavy on account
OF the opposition to the foreign plan
some important advances were made in
less active bonds Total sales, par
value. $2,s50,Ooo.
United states as advanced Is on
Total sales for the day, 4se,1oO
shares.
New York, October G-Money on call
steady. 2d2 12: ruling rate, 2: closing
hid. IA: offered at 2 as. Time loans
easier: sixty days, 9Gn3 Ii; ninety
CT lac IA
A. Prime mercantile paper. IA per
cent. Sterling exchange firm. with
actual business In bankers bills ut
SA.S29O for siSty-day bills, and at
S4S62O for demand Commercial bills.
s4S3 IA Bar silver. So 1-2. Mexican
dollars As,