The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-11
New York
Stock Market

New York. July i0,-Disappointment
at the government crop report. when
Mas issued shortly before ine close 81
the market. caused stocks TO rccede
quickly after display of almost UNI
form strength from the opening. The
losses thus sustained virtually can
throughout the list OF active stocks
The character OF the crop report VAS
Offset TO some vNtent by the months
statements OF the, copper producerS
and OF the United states Steel Cor
roration untitled orders. which %Sle
unexpectedly favorable United States
Steel and the copper shares. however
yielded with the remainder OF the list
at the close.
The ngures for spring wheat and
corn were the most discouraeirE fea
lures of the governments statement.
Previous estimates of the condition ri
spring wheat Were usually about 40
hgure OF 1873. The condition If com
was two points under many estimates
i was pointed out, however, that since
July the drought which was largely
responsible for the damage, has Deen
renewed in many sections, and that
present conditions are substantially
when the official figures We're collect
Cd. The decline III stCcNs as due in
pArt 10 the expectations IT operators
who had bought heavily in anticipu-
tlon OF d more bulliSh statement he
PORTS OF rain over the wceh-cnd en-
couragcd buying this morning. not
only here but in Lon ION. where Amer
lean stocks advanced materially be-
fore the New York opetins. he gains
We're reelected in the local market.
The increase of 2i1,300 ms in The
Steel Corporation between June l and
July indicated an unexpectedly ldrg.
amount OF new business rhc June
figures suggest the iIrScSt gam which
the corporation has experienced since
the revival after The "open market
O. 1909, the !ncreas- ~ business which
followed the reduction il prices being
estimated al 80 per cent az more. on
tGe basis of to-day's report and the
known increase IN shipments during
June. The decrease e more thnn s.
oVp.uOo pounds in coppcr stocks was
larger than was looked for. bringing
down the total to the lowest point in
several months. While domestic de-
livr::es We're somewhat disappointing,
the exports movement was the largest
since last October, and the statement
as whole was regarded as distinctly
and the steel trade apparently had
been discounted, for the market bare
y moved on their publication. Al
most the only exceptions To the
strength exhibited through the great
eE part OF the day were Virginia Iron.
GINA Carolina Chemical. which, al
though it remained stationary when
the ,unfavora BILE annual report wa.
published last week, declined point
The bond market was firm Tot,,
sales. par value, S2.il5.OOO United
States bonds We're unchanged on cali
Iotal sales for the day were SIS. 900
Shares.
New York, July l0.-Money on call
steaay' "a? IL per cent; ruling rate.
2 3-S: closing bid. none: offered at :;
Per cent. Time loans very quiet. Win
limited offerings sixty days. IL per
cent, and ninety days, 3-i@S Der
Sen S., SIN months. l-263 81 per cent.
tIlne mercantile paper. 4Gi l-2 per
cent sterling exchange steady with
eeGtual business in bankers bills at
stt'Si9o Tor sixty day bills and at
Si.S6S0 for demand. Commercial nilie
Si.sS "a. Bar silver, 5S. Mexican ioi