The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-06-21
New York
Stock Market

New York, Juno 2o.-Stocks gave
way slowly to-day to comparatiyely
small amount OF selling The market
was unusually dull A few Stocks
such as Great Northern preferred
Canadian Pacific, Denver and Rio
Grande. the Eries. international Har-
eestcr, and the Electric and Telephone
shares lost point or more, while Nor
folk and Western and some less active
issues exhibited considerable strength.
Otherwise changes were confined to a
narrow range through the day. and
trading was featureless. The character
OF the market illustrated the ultra :
conservative attitude OF traders.
The present uncertainty as to crop
prospects is largely responsible for
this position. 1t is recognized that
crops are passing through a critical
period and until more definite infor-
nation is received traders generally do
not venture to commit themselves
heavily 10 either side OF the market
This hesitation is increased by rep
resentetive of extensive damage
which are being received with persist
ence which have given rise to consid-
cradle upcasiness. To-day's weekly
statement of the Weather Bureau did
not allay fears on this score. Although
It reported continuance of favorable
conditions in spring wheat growing
States. 1t confirmed private advices'
telling of still more unfavora Bile con-
ditions in some sections OF the South
and Southwest.
The Hill stocks were among the
weakest of standard railroad issues.
Selling Of these stocks originated
largely in the West. Esd appa rentlv
was based on reports OF damage to
the spring wheat crops. contradictinE
the more favorable report from WASH
inSton in this particular DESPITE the
weakness in a number of places, how
ever, the list exhibited Considerable
underlying strength, as was Indicated
BY its steadiness in the face of de-
cline OF nearly four points late in the
DAY by American Telephone. News
that the directors of the telephone
company had recommended an Increase
Of s5o,ooo.0oo in capital stock was
signal for the most vigorous move
OF The day By bear traders. who sue
ceeded in driving 1t down rapidly, de-
spite the favorable influence exerted
by the earlier announcement that the
stock was traded In on the Paris
Bourse to-day for the first time. At
There was further active trading on
the curb to-day in the new Panama
bonds, more than 100000 of which
SOLD when issued" from lo2 Ito
~" = g. t'iS pIiSe teHQlnE toward the
lower figure following publications Of
the figures. at which awards were
made The results OF the offerings. as
finally shown. were quite in line With
the expectations OF bankers. who were
prepared TO see a large proportion Of
the loan awarded to individuals. trus-
tees OF estimates and various institu-
tons other than banks. Before the
government can make the remaining
S240.ooo,00o Panama bonds authorised
bankers believe the price may come
within the range of what they are
willing to pay. H.
The bond market was Irregular.
:. aa, TelePhone convertible IS
weakened with the stock. Total sales
par value sS,256ooO United states
bonds were unchanged on call.
Total sales for the day. 2+1.soo
shares. I $500
New york, June oo.-Afoney On 81,
STEADY. l-ia2l2 per cent: ruling
rate, S-s: closing bid SIS. offerei
at i-2- Time loans dull: sixty DAYS
IL per cent: six months ala
IL per cent. Prime mercantile paper
: 70 l-2 per cent Sterling exchanra
STEADY, with actual business in hanIs-
ers' bills at Si.s+ for sixty-day bii,e
ana at s+s5s5 for demand. Commerce.,
piils, Si.S3 l-2. Bar silver. "a Afaxican