The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-09-01
New York
Stock Market

New York. August sl.-Following a
sharp rise at the opening OF the mar
ket and subsequent recession, stocks
We're Kept within narrow range to-
oay. Trading was aImlesS. ana trad
ers were indifferent The chief de-
mand Tor stocks seemed to arise from
the short interest. anu buying from
that size OF the market was largely
responsible for the opening advance,
In which number OF important issues
gained from l TO points. The demand
at higher level was 50 limited that
the market gradually fcn back. Dur
Ing the day there were several small
movements. arising usually from et-
horts OF bear tiauers 10 bring on Il
renewal OF the decline, but they net
TED SO little that the session ended
with only few changes OF import
ance
Pressure was again directed against
LehiSh Valley 10 marked extent.
and at one tilne during the day The
stock fell points from the high mark
OF the session 1T was said in eXpla-
nation OF the heavy selling in this is
sue during the last TWO days that the
holdings OF large interest IN TIE.
property hao been tnrown ON the mar
ket Later in the day, Amalgama Ted
Copper was attacked III much the
same manner, relap s!ng enarly
points. The similarity in the Two
movements gave rise TO the BELIEF
that both were bear raids. Intended 20
tscilitate short coverings Lehigh VAL
ieys bottom price oI the day was the
lowest of the year
BUSINESS ielI TO the smallest pro-
portions of several Gays. Tine decision
OF the governors OF the exchange to
close it on saturday preceding Labor
Gay, resulting IN u triple holiday over
the coming week end was largely re-
sponsible Tor the days Guinness. as
traders Were not inclined to Increase
their commitments. especially N view
OF uncertainty as TO what may de-
velop in regard to the labor situation.
interest
upon the prospects OF strikes upon
the Hartman and other lines.
sharp advance III the cotton mar
ket was ascribed TO expectations of an
unfavorable showing OF the govern
ments forthconilnS cotton report
which was foreshadowed by private
hdNioes from the South. The movement
apparently found no reflection in the
stock market.
Securities OF both the great corpo-
rations against which the supreme
suits were active to- day. Transfer
books OF the Standard OIL Company
closed to-day. and transactions in this
stock in the outside market were con-
made OF $40 for the stock "eX-subsi-
DIARIES" but traders refused to deal
IN the issue on those terms until
better opportunity Is presented OF de-
termininG their value. various plans
We're afoot to-day to prevent violent
fluctuations in quotations tomorrow,
but at the close OF the day IL was UNI
certain what course tho trading would
take. American Tobacco securities
were strong throughout the session.
a favorable inference was drawn from
announcement that the courts had
sanctioned plan whereby the COM
pany would dofray expenses of the re-
organizations committee
Bonds We're irregular. Total sales,
par value. sl.3i000O.
United states bonds were unchanged
on call.
Total sales for the day. 297.4oo
New York, August Si.-Money on
call steady; 21-44212; ruling rate
"a; closing bid, SIS; offered at
2l-2.
Time loans steady; sixty days
S-4@3 per cent: ninety days SGS ia ;
six months, 334G4 per cent. Prime
mercantile paper, / q per cent
Sterling exchange steady with nc-
tual business in bankers bill al sl.SSz5
for siXty-day bills and at si.S605 for
demand. Commercial bills. Si.S3. Bar
silYer. 81 Ii. MnNiCan dollnrs. i6.