The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-09
TRADERS WAITING
FOR CROP REPORT
Pending It's Appearance Monday,
Business Is Very
Light.
WEEKLY BANK STATEMENT
Standard Oil Shares Expected to
Go Higher With Reor-
ganization.
WEEKLY BANK STATEMENT
Especial to The Times-plspatch.l

Especial TO The Times spatchl
New York July 3.-Because the
financial world is waiting for the crop
report to be Issued by the govern
ment Monday. trading in the stock
market to-day was very light. Net
changes were not important Western
Maryland and American Ice made new
high records. but the standard Issues
were not active. There has been
change OF sentiment on the part of
the bankers identified with the Stand
ard DOLL interests. and these are more
favora BILE to the market.
There is reason for expecting that
action VIII be begun by the United
States Court at ST. Louis Monday TO
rcorganize the Standard oil Company
In compliance with the decision of the
Supreme Court. The important thing
ries and the tank line will be left un-
der practically the present manage
ment.
The bank statement to-day was q
remarkable document. owing to the
impossibiiity of harmonizing the ma
tional and State bank methods Of
holding reserves. Trust companies,
which are now members OF the clear
Ing house. carry much of their reserve.
as deposits in national banks Thus
there is duplication of reserve
and for the present the clearing house
simply gives the figures of actual cash
without attempting TO figure the per-
centages.
With good crops assured the news
from Europe OF the organization Of
an international steel trust had con-
siderable influence on the stock mar
ket. Steel was the leader in the rally
rate In the week, and maintained its
strength. 1t is even rumored now
that an advance in steel prices Will
be made in the near future. II will
be remembered that when the recent
reduction OF prices was made II was
announced that the reduction applied
only to material delivered before Oc-
tober. The steel companies had a
large increase OF earnings for June.
and viii! make a still larger increase
for July.
The Standard OIL Company is un-
derstood to have perfected plan for
this plan is expected in the near fu-
ture. and persons in close touch with
the situation say that the present
Standard Oil stock will be found
worth $1,000 a share before many
weeks. The plan IS TO distribute
TO the shareholders OF the Standard
oil Company, of New Jersey. pro rata
the shares Of subsidiary companies.
In the Street.
Number OF shares sold o-day. 6o,75o;
n year ago. 335.455. Par value or bonds
sold to-day. 1888. 900: year ago.
100000.
On the Curb.
Strength and activity OF Branden
Copper was the feature OF the trading
on the curb market to-day. the issue
selling up 10 9. Kerr Lake was fairly
we'll traded in around 5l-2. while
Wettiaufer silver Mines receded
small fraction. American Tobacco
was steady In the early part OF the
session. but later declined 81 a share.
Now York. July s-Money on call
nominal Time loans easy; sixty days.
21-252 "a; ninety days, 3-iM3: six
months. 1928 ga. Prime mercantile
paper. to 4l2. Sterling exchange
steady. with actual business in bank
ers' bills al s4.s450 for siXty-day bills.
and at S+,s630 for demand. CONNER
Cials s.S33- Bar silver 5o--s