The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-06-13
New York
Stock Market

y
New York. June l2LFor a time fol-
X lowing the opening of tbs stock mar
ket to-day trading was active. ana
prices advanced vigorously The do
inand included virtually the entire lis
OF active stocks. and the market APP
peared to be we'll established. on a
level which showea substantial gains.
This advantage was held fairly we'll
during the first hour, With no appear
snce of the pressure which had been
eSerted so steadily during recent days,
as to give rise to various reports Of
the operations Of Il powerful bear.
clique. Before noon. however. selling
was resumed on heavy scale, and
the tone of the market changed sud
denly United states Steel and the
Gould stocks exhibited marked weak
ness and nearly all OF the important
railroad and industrial issues shared
In reaction, which Cancelled gains
and in some cases resulted In net
losses During the remainder Of the
day the market was dull. and trading
was largely professional n chara cter
Toward the close trading Secame more
active and prices were bid ID sharply.
Stocks of the Gould and Southern
lines were weakest in the list Gould
shares rehected the uncertainty as to
the action of the directors Tomorrow
in regard TO the dividend on Denver
and Rio Grande preferred. Reports
OF continued hot, dry weather in the
cotton belt despite predictions Of rain.
depressed the shares OF Southern roads.
Almost the only stocks eN,i.blttng sils-
talned strength were those of the cop
Ter group. AnalEama;ed Copper. An
acpnda. Uiah Copper lenneS see Con
per and American Smelling all re-
sponded 10 the Improvement in the
COPPER metal market, and reports of
large domestic and foreign demand.
The conflicting movements, in the
market to-day represented a eontinii-
ance OF the hesitation and alternate
periods of strength and weakness
which were prevalent throughout las It
week Uncertainty as to the outcome
OF Investigations of corporations and
as to the maintenance Of dividend
rates. reports of the effect OF drought
n the south and Southwest. and dis
quieting accounts of the determin alton
OF powerful operators to break" the
market particularly United States
steel, advanced in explanation OF the
sensitive condition of the market All
these factors doubtless have their
part in the formation. OF speculative
opinion Underlying them. however.
Is the belief that the outlook for gen
eral industrial situa ton Is still cloud
ed. The expected Improvement appa-
TcntiS having been discounted 10 some
extent by the recent rise in stocks. the
market, in the opinion of some OH |
servers. is awaiting more definite signs
Of better business conditions. and IN
Inc meantime is rejecting the same
symptoms of hesitation which are |
manifested in the various l,nes ~ !
commerce and Industry
General business in the West so ~.
es traffic returns of the roads in thai
section indicate. is holding steady In
most directions, with no move toward |
extensive expansion. Grain receipts |
at Chicago last week fell OFF heavily.
Inc annual report of Westinghouse
Eiectric. showing a new high record |
ior both gross and net earnings. had
utue erect on tho stock. which de-
stock shared in the recen, imnrovc.
ment OF electrical shares. and the an
nouheement that no dividend wou,d
ne paid at present prevented further
gain. -
Bonds were Irregular Total sales.
par value $4,000 United States
oonns were unchanged on call
iotai sales for the day, 4o9 500
New York, June l2.-NToney on call
steady. l-iG l-2 per cent. rul,ny
rate, as; closing bid. ) SIS, offered
at z. Time loans easier sjx,vd.ys
l-aa2 IA per cent. ninety DAYS
S-4a,s per cent: six months. 3 1-I9p
por cent. Prime mercantile
PAPER f@'i IL per cent Sterling en-
nahse hrnl. with actual business in
Sa ,kers bills a, s4,s4 for sixty
bills, and at s4.S5e5 for demand. Com.
meFoial bills, s4.S3 1-2 Bar silver
Fa3 is. Mexican dollars AZ NJ