The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-10-10
New York
Stock Market

New York, October 9.-Ileaviness of
tho coalers and strength OF the South
ern roads gave to-day's stock market
Its only movement OF Importance. Fol
lowing Il period OF moderate activity
In the first hour, the market became
dull. TradIng WAS "i,nout InitiAt.'e
or purpose. The unwiiiingness OF OPP
orators on either side to take AN ag-
gressive position indicated that the
market had been allowed to fall into
a rut, pending developments which
viii give a more decided cast TO spec
ulative sentiment. Although the eX-
cited selling which kept the market in
@ hysterical state most of last month
has now definitely subsidized. security
owners have shown no inclination TO
increase their holdings or take back
stocks sold on the decline. 1t is re-
garded by some market observers as
questionable whether such a demand
is TO be looked for until some Of the
present political uncertainties are dts
PEELED.
The market opened to-day on a
somewhat higher level, but the i'm
provcmcnt was of short duration. The
~coalers were forced down to we'll be-
low Saturdays close, and the remain
der OF the list sagged with them. Be
fore noon the market had recovered
80 .sC Will hiR VI N"N
coal stocks, and during the remainder
of the session changes were only NOM
inal. except in a few isolated cases.
Reading was the heaviest of the coal
ers. at one time showing a loss of more
than two points. The selling of these
stocks was associated with the con-
vcning to-day of the Supreme Court.
which Is soon TO pass upon the govern
ment's case against Reading in the
crfhrnrftn Quit THta &C. tEn fret 1n
CT this precise nature to como before
the supreme Court since It's promulga-
ton of the rule of reason interpreta-
ton OF the Sherman law.
Nothing more definite than a report
of q coming extra dividend for Louise
VILE and Nashville was at hand to ex-
plain the b~uoyancy of Southern rail-
roads. Both Atlantic Coast Line and
Louisville and Nashville advance more
than four points. and other Southern
roads scored smaller gains. The de-
cline In Allis-Chulmers securities,
which began last week. was continued
to-day. The viewpoint bonds sold down
to SIS. a loss OF nearly two points. and
the preferred stock declined two and
a quarter points, although both Issues
subsequently made q partial recovery.
Reports that the company was not
earning Its fixed charges were followed
by the official admission hat the cor.
poration's business had fallen off large
~.
A larger increase in copper stocks
Tnan had been expected was shown in
the September statement of the copper
The increase was due
chiefly to the heavy shrinkage in for
eign consumption on account Of the
disturbed financial and political condi-
lions abroad and the interruption of
transatlantic transportation through
strikes. The monthly crop report was
without influence on stocks. as It was
in the main in line with expectations.
although the corn estimate was re-
Sarded as somewhat disappointing.
further reductions in the price of
various steel products were reported.
United States Steel was sold on these
changes and on a report. subsequently,
denied officially. that the Department of
Justice was to bring n suit for the dis
solution of the corporation Mt once.
me stock Welded for a time. but later
fully.
Bonds were irregular. Leading is
sues showed carly heaviness. but the
general tone improved later. Total
sales. par value. 2.57O, 600. United
states threes advanced o~ne-eighth on
call.
New York. October 9.-Money on cal;
steady. az a per cent: ruling rate
"a: closing bid. 2A offered M gag
'itne loans steady: sixty days. az. and
ninety days 3hd3&: six months. go
as. Prime mercantile paper. AZ pe,,
cent. Sterling exchange Arm. Win 90.
tual business In bankers bills Mt s4S310
Tor ~sixty-day bills and at s4.s6c5m
s4.S64o for demand. Commercial hills
s4.s2N.. BAR silver. 52%. Mexican dol