The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-09-13
New York
Stock Market

New York, September 12.-Movemen.s
! OF prices on the Stock Exchange to-
day Indicated that, for the time being
, at least. Wall street was in more
cheerful mood. The market developed
ito customary irregularity, and there
were no signs that any substantial sup
port had been rendered. But trading
began with a higher level of prices,
and during most of the session the list
ranged somewhat above the previous
close AT the end OF the day small
fractional gains were general. with a
few stocks full point higher.
The heaviest selling occurred during
short period there seemed to be a re-
ourrence of the enforced liquidation so
often observed in the markets of the
past weeks. For q time the market
was depressed sharply. although the
only result was to cancel the earlier
gains Only two of the active stocks
were forced to new low levels of the
year. Pennsylvania receded to 1875
and Missouri Pacific to sos. The mar
ket soon reversed its position and
mounted to we'll above the final range
OF yesterday.
The advance resulted largely from
the covering of short contracts on the
part of operators who believed that
the market had been oversold Tho
market became dull on the advance,
the demand being limited largely 10 the
trading element. In spite OF the long
extended downward movement there
has been no apparent increase in the
amount of public participation in the
market.
One of the most important factors in
determining the markets tone was the
demand from abroad. Europe was d
source of strength. the foreign ,iQui-
dation OF recent days being replaced
by purchases of about $4,000 shares.
Only O small part of this amount was
FOR London account. Paris and Berlin
taking the larger part. The prevailing
uncertainty over European political
complications is reflected In the foreign
exchange market, in decline in the
sterling rate at Paris and some firm
ness in the sterling rate at Berlin
Changes in the Paris exchange market
have caused a slight advance here in
sight francs.
Outside the market leaders there
vas much irresularlty. Interna tiona
Harvester declined about two points
on relteration OF the report of APP
preaching proceedings by the Federal
government against the COMPANY Pa
cific Mail was one of the strongest OF
the specialties, with an advance of two
points. Prices were Influenced but
slightly by the failure of Stock Ex-
change firm, assurances being given
that the failure was not connected
with the present tmsettlement of the
market and that 1t involved no other
interests.
American Tobacco issues were excep- |
tionally strong. EDavy buying of these |
issues was supposed to be in connec-
ton with the expected early compile
ton of the plan of reorganization. The
advance in the and per cent bonds,
which later reacted, was the feature of
the bond market.
Bonds generally were firm. Total
sales. par value. s2,435, 900. United
States bonds were unchanged on call
Total sales for the day. $500
shares
New York. September 12-Money on
call steady. "a @21a per cent: ruling
rate 2ms; closing bid. 2%; offered at
2 y. Time loans steady: sixty days,
543h per cent; ninety days, 81 63B:
Six months. 3& "a Prime mercantile
paper. az per cent. Sterling exchange
steady. with actual business In bank
ers' bills at s4SS5O for sixty-day hills
and at s4.s6l5 for demand. CONNER
cial bills, s4.s2A Bar silver 59X
Mexican dollare AZ