The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-05-11
New York
Stock Market

New York. ~ y, May 10.--The state
OF poise which has been maintained in
the stock market in the last few days
was preserved to-day, the opposing
forces OF speculation remaining vlrtu-
ally at a deadlock. Trading received
ne fresh impetus. aud price changes
were nominal. although there WAS Il
more decided drift downward, the lead
ing isues with few exceptions reced
ing by small amounts. Demand Tor
stocks WAS limited, and traders showed
an increasing inclination to recr to-
ward the short side, although the
amount OF business was too small TO
nave u decided erect upon the market.
shortly after the opening and again
late in the day selling movements We're
attempted, but they failed TO bring out
long stocks. ana were not permitted
10 gain Roadway.
The heavy undertone was described
as being due to the cumulative effect
OF the decline in general business, ana
he unsatisfactory political outlook.
Reduction OF railroad dividends was
another unfavorable factor. yesterdays
cut by the Boston and Maine being
followed to-day by similar action OH
the part of the Nandalia Il subsidiary
OF the PENNSYLVANIA system. Following (,
announcement OF the reduction by the
Nandalia, Pennsylvania sold below H.
tor the iirst time since 1905, although
The revenue derived from the Van
dalia does not constitute an important
item i'll the earnings OF the rennsyi-
Nania 81 stem. Ncw York. New Haven F!
ana Hartford fell nearly three points
to-day. rIes .uiaply on account ui the
change III payment on Boston ana
Maine stcch. al which IT Is :, large i
holoer The sentimental effect upon
the marks; IS 2 whole MAS regarded (
as OF sreater signihrance than The ar-
ilSn a Ihe5siocks directly concerned
Al sablica:,o:s Of the monthly state
HeH' 9. tAs INHALED orders OF The
l1:.sd States Steel Cooperation cid not
so2se ,as market From ks inertia the 4
7r:te o. C1:;aG SiztsS Steciiise!t scarce. |
i laT!zs when me announcement Vas
Sass -sz; mailed tonnage At the end 4
q A?!l wss .ssQQo tons less thsa at
i2A elos@ ct.7e c-ecsdirs month Ina
- S;-r=--sIt Vas 1ci su-p..s.as
1o--2y 1ElEss 1.s TIE smallest. o.
az SEQ :: Tie ysa- with tie ex-
c<F:.-- - 1865 -. January, ana
Eecs:r s&-Tai . co..oSo.ate tatc--,a.
It's T-.cS Az6 H+ea ottA.cet from
sy=9 G..Trs-. Rol-t!1E % cea.rac-
i3e- .: e2s1-sss atts- ;E5 brief ex- 4
stas!31 sn:ays6 s=-iy II the yez..
y szc-a s~-sSzl Interest ws.e Ills
r
cen; ~ IA+ United States steel CORPS
sat!oa atltte retenI stss! ard iron
mems 6:r1sr as Eow maze pub3,c
Their frankly STATED telte: thai, II is
.hs activities OF Congress which must
az considered largely responsible for ,
business depression furnished an un. |
eNpeotedly clear Indication OF the at.
u'nde OF some interests high in the |
business world toward the present !
political sitnat on. Whatever c.snses |
may take place in the aspect OF the |
business as whole. the belief is ac
copied by many interests in the fnnn |
cial community that the situation
there Will not no clarified until some
definite indication shall be obtained as
10 what may be expected In the way OF
legisiat ZION affecting the tariff and cor
porations generally.
Trading in bonds was soncN-h,t
more active 10 day than yesterday. hut
the volume OF business was still much
below that reached L short time ago
ana AZ seemed probable thar reces
sion from the recsnt high level was
TO be expected. r>N was regarded -
oeine due 10 partial satisfac tion or
the heavy Investment demand rather
than TO any change In mar,Sct condt-
tons. Railroad bonds we're easy 10
,al sales. par value, s3.44o.000. united
states government bonds unchanged.
Total sales for the day. lGs 500 shares.
New York. May lo-aroney of cal,
steady, Lao 2 as ruling rate. al.4
closing hid, ass offered at ZIP. Time
loans easy. s lty-day bills. .l-e per
cent. ninety days. : a. sin months.
.. Prime mercantile paper, 3l-2 TO 4
per cent. Sterling exchange steady,
With actual business in bankers bllis
At sis45o for sixty day bills Ana -,
si's645 for demand Commercial hills |
s4;SS rs. Bar silver. 5Sl-s Maxican