The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-05-04
New York
Stock Market

Nav York, May 3.-Substantial sup
i port was given to tho stock market to-
n dey, and tho reactionary movement
( which unsettled prices yesterday was
y halted Tho change was not brought
about; however. until the market had
I, passed through several hours of I'M
& certainty, in which declines were cx-
tended. During tho fore part of the
session there was heavy selling. espc,
Trading was no less professional than
for months past. but bullist operations
9 seemed TO be accompanied by more
than the usual degree OF assurance, and
eventually shaped the character of the
market. Buying orders increase until
They orerhalanced the supply of long
rose steudily in the late part Of the
day, Previous losses were moro than
recovered and number of good gains
were recorded.
In the sense that the greatest gains
were scored by the less active issues.
sto-days market may. properly be called
resier was the most prominent OF this
group, gaining fiHe points on unusually
Heavy dealings. No definite news ac'
companied the advance in tho stock, but.
~ issued BY the company makes plaus-
iole reports Of possible increase in
wider and more confident in The later
uealings. embracing virtually all the
better known issues. The telephone
stocks were especially strong, presum-
the statement that arrangements for
closer connections between cable com
nanies and the American Telephone and
telegraph Company and allied inter.
ests had been advanced far toward
completion.
Tie conspicuous Developments Of the
day were not of a favorable character.
alihoUsh the market was strong
enough TO ignore their influence. The
only apparent response 10 news of the
Increased gravity of the situation In
Mexico was break In national Rail-
WAYS of Mexico second preferred Some
attention was given TO reports of the
various proposals for congressional in
designations OF corporations, including
the American Sugar Refinn- Company.
ne American Woolen Company and tue
,n nitea Siat sa steel Cooperation The
fairs OF the Steel Corporation was ad-
tanced o-day to q point from which
me investigation may be ordered by
The House of Representatives with lit
ne further delay. and promises to give
10 the financial community the first
concrete indica ton of the temper OF
when such an Issue is presented.
Some OF the. lower priced railroad
stocks including Denver and Rio
among the strongest to-day. St. Paul
Yielded fractionaly after the publi-
cation Of its March report, showing Il
Increase in operating income of $780,
oVo; Union Paeiiic was one OF the most
active in the list, advancing more tina II
point I'
The iron trade in April more than
retraced the forward steps il took in
march, according to the statement, OF
trade authority and still further con
irhction In business is expected Pitts
burg reported a slightly batter inoui-
ior basis iron. although the mar
New business in hnished lines IS
falling off steadily. Another unfayor
hnie indication of the state of trade
WAs revealed in figures for bank clear
ICES TOT April The total over the
country. as has been the case in other
recent months. makes an Indifferent
comparison with last year. the loss
ioT AnrH being more than ii per cent.
bonds were active and strong With
continued heavy buying Of New York
NJ, TX Issues; Total sales. par value. So.
1880, United States government
bends We're unchanged on call
. Total sales of stocks for tho day
We're 4s5s00 shares III