The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-05-23
New York
Stock Market

New York. May 22.-The forward
movement in the stock market, which
was interrupted late last week. was
Fesuined to-day. During the greater
part Of the session prices ruled q
ABOVE the final figures of last week.
ana the market exhibited considerable
strength. although late in the day
GAINS were cut down materiauy. An
unusually large volume OF buyinr or
oerS accumulated over the weekend.
anu me demand was sufficient 10 cause
material advances at the opening. TIE
small losses of saturday were oiickiv
recovered, and the continued demand
forced prices Upward gradually.
FealizinS sales We're resumed, com
mission houses supplying stocks stead
lily. but the markets buying power was
great enough 10 upset the calculations
OF bear traders who expected that the
reaction of saturday would be extend
ed to-day. Then when the advance
had reached a point or more for a
majority OF the better known stocks
The demand slackened somewhat. and
at the same time more stocks were
offered at the higher prices. The ad-
vance was halted, and III the last part
Of the day the market fell back
slowly. f
heautHS was the leader IN the early
part OF the day. when the market was
strongest and rose to within a small
fraction OF its highest price or The
year, reached several weeks ago.
The grain-carrying roads, especially
the Hill group. We're helped py the
continued good reports OF crop pros
poets. and were in unusually strong
demand. Western Union continued its
recent rise. and the car equipment
stocks. including American Car and
Foundry. American Locomotive and
Pressed Steel Car, were marked up on
recount OF increased business which
these companies are expected to enjoy
in the near future. Missouri Pacific
was under pressure. and fell back
sharply.
United States steel anc less
rapidly than other active stocks. Steel
and iron manufacturers report a bet
ter inquiry, especially from the rail-
roads and a substantial increase in
bookings is looked for. The san ne
optimistic view prevails among West
ern railroad officials, which state that
traffic Is being well maintained.
April railroad reports began to come
in to-day, Lehigh valley being the first
important system to submit Its state
ment. The report showed a decrease Of
Slls,o0o in gross revenues, and of
apout the same mount In net, Operat-
ms expenses showing little change.
sale of a block Of Hudson and Man,
haitian Railroad bonds in London, and
reports from Paris of the continued
purchase OF American railroad bonds
investment account Indicated that the
foreign demand for American securities
was Still keen. the bulk of the So
10000 South African gold in the open
market was taken by the Bank or Eng
land at the minimum price. The bond
market was firm. Total sales. par
S4,126,00e.
United states bonds unchanged on
call,
Total sales for the day. 554.7oo
shares.
New York. May 22.-Money on cali
steady. 2@2l-2 per cent; ruling rate.
2 ia; closing bid. . as: offered at
2 1-2 per cent. Time loans strong. De-
mand good at rates slightly under the
market; sixty days. . 1-2@o S-4 per
cent; ninety days. 2 AGA per cent:
six months, 3 Ia per cent Prime mer-
camille paper, 3l-2@4 per cent. Ste,-
ling exchange steady. with actual bust
ness in bankers bills at s4.S435 for
GiXty-day bills. and at s4.S635G s4.S6io
for demand Commercial bills. S4.SS rs.