The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-09-27
New York
Stock Market

New York. n. z. September 26.-
Trading in stocks was less turbulent
to-day. and changes were less violent
than during yesterdays upheaval. Tho
tone OF the market was distinctly
stronger. A sharp break occurred in
the early trading, and for timo IT
appeared as though another breath
But the market soon reacted. and dur
Ing the remainder Of the day ruled
we'll above the low point
1t was apparent at all times that
the demand was considerably en-
larged. The change was pronounced
during the last hour. when the mar
ket rose rapidly under the influence
of spirited bidding United States
Steel rose l2 points above yester-
days close, and ended the day with a
net gain of a point. The preferred
gained "a on the day. Reading. Lee
high Valley, Canadian Pacific and
American Smelling closed point or
more higher and the Hartman issues
nearly as much.
Despite the showing OF strength In
to-day's market. the nervousness OF
recent days did not disappear. At
torney-General Wickershan,'s stats-
ment of the governments attitude e
Earding enforcement OF the Sherman
law did little to clear the situation.
Wall Street had hoped for definite In
formation as to what was IN store
for the United States Steel Corpora
ton. and expressed some disappoint-
ment because the Altorney-G General
was unable to disclose his intentions.
The deduction was drawn in some
quarters that the tenor OF the state
l.. mt indicated that n dissolution suit
was to be filed. and the early break
was ascribed largely to selling based
on this theory.
The buying appeared to be largely
the result OF an extensive demand
from the short. There were indica-
tons that the market was oversold in
some quarters. Brokers acting in the
loan crowd" said that the borrowing
Of stocks yesterday and this morn
tnE was the heaviest in many years.
In addition to the demand from this
source there appeared to be extern
sive supporting orders on any appear
ance OF weakness. Speculative senti-
ment was undoubtedly helped by tho
general belief that a satisfactory plan
had been agreed upon for dissolu-
ton OF the American Tobacco Com
pany. 1t was argued that II II had
been found possible to dissolve this
huge corporation. on terms upon
BILE to agree with the officials of the
government. similar results might be
expected in the cases OF other cor
porations should their dissolution be
required.
Atchison's August statement. show
Ing decrease in net earnings of
s6I1,oo0 was a much poorer showing
than had been expected The stock
sold down point on publication IF
the report, but subsequently recover
ed
Dealings In bonds we're enormous.
The total which exec ed s7,5oO.oou,
was by far the largest OF the year.
Transactions in the American Tobacco
bonds made up a large part OF this
total, reaching 1851 600 The 6 per
cent. bonds rose 3-s. the As ass, and
the preferred stock / Ia The gem
eral bond market was firm The total
snles. par value. s1,5110oo United
States bonds unchanged on call. Total
sales for the day, l.o75.60O shares
New York, September 26.-Morey
on call steady, e@21-+; ruling rate.
2; closing bid, .; offered at ala peg
cent Time loans firmer; sixty days,
S1-4@3 l2, and ninety days. 3-464:
six months. S7-SG4 per cent Close:
Prime mercantile paper, s. -4 per
actual business In bankers bills. at
sis325 for sixty-day bills. and at
s+s655@ s4.s66o for demand. CONNER
cial bills. s+S2l.2 Bar silver. 521-2.
Mexican dollars. 45.