The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-10-14
New York
Stock Market

New York. October lS.-Modcrately
higher prices prevailed at the close
of to-day's session of the Stock EN-
change, which was characterized by
the same firm tone as on recent days.
The general situation remained UNI
changed in it's essential features. bear
ing upon the securities mar..ct. and
during the greater part Of the day
trading was dull and price movements
were nominal. a vigorous movement
in the last half hour, OF the same de-
scription as that which occurred at the
close of the preceding session. cstab
lished higher range OF prices. Tho
Hartman stocks, Reading. Lehigh VAL
ley. Northern Pacific; Atchison and
Amalgamated Copper, all gained Il
point or more. and Unitai States Steel
nearly point. The bidding for Read
ing WAS especially keen. and its recov-
cry from its recent pronounced weak
ness gave point to the belief that the
demand arose largely from the short
interest
Trading in American Tobacco sccu-
rifles was the conspicuous feature of
the day. Dealings in the p cent.
bonds amounted to $3.50. 600. Within
the first ten minutes of trading bonds
to the par value OF nearly 100000
changed hands at rapidly rising prices.
The four's rose from 90 to 90 3-T+ On
the curb the common stock scared
Is points. A good deal of Importance
was attached to the strength displayed
in the securities and the movmcent
stimulated the general market. Trad
ing in the tobacco Issues was based to
a great extent upon the belief that the
plan for dissolution and reorganiza-
tlon of the company would he filed in
court to-day. When the official an
nouncement was made that the plan
would not he filed this week the tobac-
co issues lost part of their gains
General Electric responded to the
decree OF the Federal courts ordering
the dissolution of the electrical COM
bine with a gain of point. although
II subsequently, fell back. American
Beet Sugar reached a new record in
it's upward movement. The decline
in Allis-Chalmers continued. The s.
per cent bonds fell points to So. the
lowest price at which this Issue has
sold since the organization OF the COM
pany and a decline of IS points; since
May, when the high level of the year
was reached.
Largely on account OF the enormous
dealings in American Tobacco securi-
ties. the days trading in the bond mar
ket was the heaviest for more than
two years. Prices generally were high
the more conservative issues.
Steel makers reported an increasing
volume OF business as consequence
of lower prices. Still further ccnces
sions in the quotations Of some pro-
ducts were noted to-day That the
low prices have been effective in swell
ing the export business at home was
indicated by statistics OF exports for
August of manufactured products
of steel and iron amounting to
.oo.7o4ooO. as compared with sl7,-
$4,000 in the corresponding month
of last year. 1t is expected that the
loss in money will be considera bly,
smaller than last week. Bank ex
changes this week make an indifer-
ent comparison with last year, the total
having fallen off slightly. Total sales
of bonds. par value, sS.3s2,o0o United
States bonds unchanged on call.
New York October l3.-Money on
cali steady. 2l-4M l2 per cent; rul-
ing rate. . SIS, closing bid a; offer
ed at . SIS. Time loans steady: sixty
days. s03l-2; ninety days, 3l-2a 3 81;
six months. 31-2N4. Prime mercan-
tile paper. 1874. Sterling exchange
firm. with actual business in bankers
bills at si.S3l5 for siXty-day bills. and
at s4S625 for demand. Commercial
bills. s4.s2l-2. Bar silver, So IL. Mex
Irur dollars