The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-09-08
New York
Stock Mark ct

New York. Septembe, AFTER ST.
most a week OF steady advances IN
which stocks went back part OF
the previous losses of the Angus: de-
cline. the market suddenly reversed
it, position to-day Prices went
tumbnng downward untn large pro
portion OF the recent gains had been
eliminated. some stocks including
Hultinore ana OHIO ana Missouri Pa
CHIC. fen TO the lowest points OF the
wear such prominent issues a
Atchison Canadian Pacific, Lehlsh al
ley, Northern Pacihc. keaGing ana
itnlon Pacific Tell back Two or more
points United states Steel loSt
! So. its heaviest decline OF some
time. ,
ed lnysufyinS TO traders. the mar
ket opened Irregular with a pEePohna
derance Of small losses During the
morning. trading was unusual! itss
less and changes were some" .'a'
came more active, culm!natinS IN
vigorous attack on the list uNrlnS the
last nour. There was sharp comm,
OF opinion as 10 whether the IeNt- so
was due to q daring move on the par
OF the bear party or TO a renewal o.
liorfdation The demand was unUsuaI-
ly light owing largely 10 the i@e' that
the more urgent covering mao gegH
completed so that renewed operations
fo- the decline were made easier, ana
II is probable that the slump was que
chiefly 20 short selling Snt tntre
were strong indications o. fresh
linuidaticn. narticuierly in Baltimore
and Ohio Selling % this stock mas
been proceeding for some time on ac-
count OF uncertainty as 10 me aoliiN
OF the road to maintain the per
10 FOREIGN Selling contributed to the
weakness Of the market The selling.
although coming from London. orig
mated in a large part IN berAn, as a..
point The balance of sales for
foreign account, however was not
Stocks OF the Hawley roads moved
against the market Iowa Central COM
mon and preferred. making especial
" good gains. The movement was
due 10 announcement of the expected
leasing OF the road TO Minneapolis and
ST. Louis, as part 81 plan for a
new route from Canada 70 the Gulf OF
Mexico. This announcement was the
only development OF the DAY with d.
rect effect or stocks. although the
street was filled with d!squ!etinG rum
ors, such as usually accompany q sharp
break OF the kind The marked weak
ness OF the Gould stocks was thus ex-
planned as being due TO toreknowledge
Of the character OF Missouri Pacific's
Forthcoming annual report
Several Western railroads announced
the size OF their July operations, and
In some cases abrupt decreases in
earnings We're disclosed. The combined
net returns Of forty-five railroads in
July showed an increase amounting 10
Slightly over per cent.
Local banks reported that they were
receiving inquiries for shipments OF
currency to the interior within the
next few weeks with some requests FOR
immediate transfers.
This applies particularly to the
South. whore money is now beginning
to be needed for moving the cotton
crop.
Bonds were heavy. Total sales, par
value, S202SO United states bonds
We're unchanged on call. Total sales
for the day We're $4,000 shares
New York. September Mooney on
call steady, . 1-4a2 l-2 per cent;
ruling rate. ? Ia; closing bid. SIS;
offered at . 1-2 per cent Time loans
steady; sixty days. > S-46S per cent
ninety days, 3aS Ia; six months, 3
- @S rs. Prime mercantile paper,
l-214 34 per cent. Sterling ex-
,-t.a