The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-04-20
New York
Stock Market

New York. April la-Wan street
Was confused to-day by the SITUATION
arising from yesterdays crisis in tho
sffalrs of Missouri Pacific, which con
stituted the chief Influence in the
stock market. Uncertainty as 10 tn.
outcome OF the DISRUPTION OF the roads
directorate ana withdrawal OF tho
liuhn-Locb rcpresenta tives. and vague
fears OF further complications. gave
rise to some uneaSineSs. but strong
support which was offered defeated lt-
tempts 10 depress prices. Missouri
tactic was the strongest stock in tbs.
list, although 4 numhe OF other Issues
made good gains.
Although the advance OF Missouri
Pacific from - "a i'll January to 6S
In February was based on the news
that new interests commanding TIL.
conn'iencc OF the financial world wol.'.i
assume control. definite severance u
these relations brought no corrcsponl-
ing disturbance. Doubt as TO The out
come was reflected chiefly in the slow
ing Town OF business. traders being
disincliBed 10 commit Themselves unit
some clear idea Was had as to wha,
might be expected. The belief was
general, however, that the discontin-
uancc OF relations between he GouluS
and the l.uhn-Loeb interests would not
interfere with plans for meeting The
iiiancial requirements of the system.
y report which was spread late in the
day that substantial banking interests
had agreed TO take up the respon-
sibili,y Of financing the road met with
general acceptance. the more readily
llccausc the BANKERS mentioned in that
st connection arc l.,iown. to be Identified
closely With the Rockefeller interests.
1t MAS" assumed that the new interests
were induce. 10 enter Missouri Pacific
on account of the large Rockefeller
holdings, and that hereafter the ROAD
might be known as much as n Rookie
fcller as a Gould property.
Indications were not wanting to-da..t
that the market WAS oversold as Il
result OF the bcarish activities of the
previous Two days. Short selling at the
opening induced no liquidation, and
the supply OF stocks was noticeably
smaller, as that attempt TO cover
forced IN prices. This condition doubt
less was responsible in part for the
stability of prices during the most of
the day. The opening was nervous.
but the market grew steady when it
was apparent that strong support was
being offered, and trading became dull
There were few variations in prices
Until the last hour. when the bears
made a tinal drive. The market
wavered and broke. but was supported
as promptly and etnciently as in the
morning. Stocks rose quickly to the
best leval of the day, Missouri Pacific
making a net gain of Q 1-2 and other
issues showing substantial advances.
Advices relative to the outlook In
Mexico were more cheerful. and helped
TO relieve u situation which yesterday
threatened TO become distinctly de-
pressing.
Reports from the steel trade were
less cheerful. Pittsburg sent word tina
several furnaces had been closed dur
ing the last few days. The weekly
review of the iron trade forecast lower
prices for iron.
London again bought stock freely
in this market. 1t was estimated that
to-day's purchases from that quarter
aggregated 10000 shares. Mexicans
We're higher in London on more cheer
ful advices as to the outlook.
The bond market was Irregular. Tho
Gould issues weakened early in the
day, but rallied with the stock. Total
sales, par value, s2.o52.ooo.
United states bonds were unchanged
on call.
Total sales to-day. $4,000 shares.
New York. April 1a.-Nloney on call
steady, 2 l-+@2 l-2; ruling rate, . Ia;
closing BID, oI-4: nered at as
Time loans easier; sixtY days. . l-o
per cent; ninety days. 9 3-+: six
months. 3 per cent. Prime mercantile
paper 3 az 20 Ia per cent. Sterling
exchange steady. with actual business
an h;Iis - s. S.oE for ciSty