The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-08-19
New York
Stock Market

new oIA' august lS.-No small
part Of the recovery recorded By the
stock market to-day was directly
traceable 10 the statement put out
by the Hartman management after
tile close OF business yesterday. Judge
Lovett's uneduivocal dental OF any in
ternal dissension in the Union Pacific.
or probability of q reduction of the
existing dividend. was accepted at its
face value in most quarters. accom-
panied. il seemd to be. by pur-
chases OF Hartman stocks on the part
OF bankers closely Identified with that
system In speculative circles. how
ever. some Skepticism was shown. and
It was averred that the Hartman par
~ had manifested less CELEBRITY and
frankness in the matter of AIR. r'rick's
retirement from the Union Pacific
Company OF the Union Pacific cpl
sode, however. much of the mystery.
Including the origin OF the enormous
selling OF the past three weeks. re-
mains unsolvcd. There were hints to-
DAY that the near future might lnjest
a new and highly important interest
Into that property--an interest witch
IN hycone years had often. opposed
the plans Of the Hartman faction.
But for the fact that the labor situ-
alton in England has become even
more acute. it is quite likely that to-
days movement might have proceeded
further Conditions in London and the
British provinces We're reported 10 be
in a state of complete disorgGnization,
and bullish trade prospects are un-
doubtedly being seriously affected.
Private edvices to international bank
ers were in some instances almost
alarming. and there was a disposition
to blame employers rather than the
employees
Heavy selling of United States Steel
to-day. even though It kept pace with
other speculative leaders, In its firm
understone served to call attention TO
the proposed tariff revision program
at Washington. and denoted some un-
easiness IN the outcome OF the legis-
1ation at the national capital. All 9TH
er standard shares participated in to-
days advance to the extent OF one or
two points, but trading became ex-
ceedingly dull on the decline in mark
ed contrast to the extraordinary ac-
tivity which attended each successive
downward movement OF the last three
weeks There was no evidence of pub
lie interest. and much OF recovery may
be properly assigned to covering OF
short contracts.
Transactions In the first four hours
Of the session aggregated $50. 900
shares, of which 100000 changed hands
in the first hour There was some in
creas" of activity in the final deal
irFs little renewal of the pressure
against Union Pacific, which declined
almost Il point from its high price
The market has suddenly reversed un-
der the lead of that stock. which adj
ranced to HERS other leaders also
tending sharply upward. There were
numerous net gains of . to 3 points, !
and the markets tonN a. the close !
was more sustained than at any pre-
vious time OF the day.
Home incidents included threats Of a !
strike in the Illinois Central Railroad. +.
forecasts of to-morrows bank state
ment pointing to n large cash gain. I
and official figures dealing with the
country's exports of manufactures
ready for consumption. These show
an increase of over 500, 100000 for
J 9i0-'ll, of which machinery supplied
the. greater part, with large gains IN
automobiles and cotton goods.
London bought and sold in this mar
ket. the net result being purchases of
a few thousand shares. Failure of an
other London broker in America was |
reported, making the fourth incident I
Of this kind during the week. Opera
lions on the Paris and Berlin eX-
fiuence here.
Bonds we're steady, aside from
in American Tobacco ! per
cent Total sales, par value, amounted |
20 sl5Ti.0oo. tinted States govern ,
me-t per cent. advanced is on call. |
Total shares for the day. i56,soo |
shares
New york. August !s-Money or
cali STEADY; highest. 2,t per cent; |
lowest, .; ruling rate, 49,; last loan, !
closing hid. none o1e-st a. ..
Time lozas STEADY d-i!i sixty days. |
sG31-4 ninety days, 572i-ii six
months. u
Paine p4' .n,!la. 9sp@-. 4i-sa4l-c:
sterling =iohGrrs steady. wiki actual /
business IN BANKERS bills a. sis3s5 |
FOR six:y-day bills. ana az s4s6 for
demand Commercial bills, sisS IL /
Bar silver. - Mexican dollars. IS
RICHMOND STOCK MARKET.