The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-09-16
New York
Stock Market

New York, September 15.-Fluctua-
tions In stocks were narrower to-day
than during the erratic movement or
recent days. The nervous tension OF
yesterday was relaXed, n there was
u defni Improvement in sentiment
The change arose largely from tbs
cessation of pressure from abroad
Europe bought back some OF the Sc
c~urities 1t recently has thrown on this
market, London's balance of purchases
probably reaching $4,000 shares. Ad-
vices from European capitals were more
cheerful, and there was no trace of =
REVIVAL of liquidation. Despite the
Improvement in the tone of the mar
ket, IL was apparent that the dominant
factors In the financial world had not
taken aggressive bullish positions.
The rise in prices in the latter part
OF yesterdays trading was so swift
and the demand so insistent that IT was
felt that a buying movement OF large
dimensions might have been initiated.
But no effort was made to-day to bring
about another sustained advance. After
al hitA
come heavy. Declines amounted to a
point or more for Union Pacific. Cana
dian Pacific, Northern Pacific. Reading
and q few other STANDARD shares, but
the majority of stocks lost only frac-
tons. There followed q recovery
which placed most of the list above
yesterdays close. Gains We're as small
as the earlier losses, and during the
remainder of the day the market moved
within narrow limits. Trading fell 'far
below the previous day, and net changea
were slight
Uncertainty as to developments
abroad was pointed out as the chief
restraining feature. Many traders took
the view that the long decline has en-
aggerated the possible effect OF any
unfavorable conditions in this country,
but that doubt as to what might grow
cut of the srained relations of Euro
pean powers prevented an extended
upward movement at this time. Until
O definite settlement of he Moroccan
question Is reached securities undoubt-
eddy will be handled with the greatest
care. a sharp attack at the market
late in the day showed also that the
Dear party is still to be reckoned with.
New Haven recovered four and a half
points of its decline to-day. Western
Union developed strength, following tho
favorable quarterly report of the COM
pany. National Biscuit was eHcep-
tionally weak, breaking five points. and
Minneapolis and St. Louis, which re-
Gently advanced OIL the announcement
that it was to lease the Ohio Central
and form Part of a new route from
Canada to the Gulf of Mexico. r~elapsed
eight points.
The weekly statement of the coun-
frN.'c rIparinpS u-aS IiStinrt1y ancntr-N
aging. Exchanges increased more
than 10 per cent. over the correspond
ing week of last year the gain being
especially marked in the East ana
Reported movements of cur
rency during the week indicate a small
cash gain. Gains made from the inte-
rior were partly balanced by losses to
the sub-treasury. and a net gain Of
about s2,0O0,o00 is indicated.
The money market reflects the plaa.
ing of loans in Germany. Notwith-
standing heavy liquidations OF securi-
ties both for domestic and foreign ac-
count, the time money market is work
ing definitely harder. The rates quoted
for four, five and six months were at
the maximum of the year.
Bonds were irregular. Total sales,
par value. s1,6S5.0O United States
bonds were unchanged on call.
Total sales for the day. 5lS.400 shares.
New York, September 15.-Money on
call steady, "a 10 2ss per cent; ruling
rate, 2& closing bid. TX offered at 2.
Time loans STEADY; sixty days. 3A per
cent; ninety days. 3ia to 3&; six
months. 4. Prime mercantile paper,
"a per cent. Sterling exchange firm,
with actual business in bankers bills
at s4.s3so for siNty-day bills and at
s4.s615 to s4.s62o for demand. Com
mercial bills. $4.s2ls. Bar silver, 52R.
Mexican dollars, 40.
RICHMOND STOCK MAprEr |