The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-10-11
New York
Stock Market

New York, October 10.--ouotations
held steady to-day through an un-
usually prosaic session of the StocK
Exchange. There seemed to be no
business and nothing TO attract bus
mess. Conditions affecting market
values remained unchanged, ana
traders saw no incentive to activity.
with the result that at times the mar
ket came to a standstill. The stand
ard stocks barely moved, and changes
OF any size were restricted for the
most part to less active issues.
The only appearance OF activity was
in the first hour, when prices rose
generally. The rise was only frac
tional in the active shares. except IN
the cases of Union Pacific and Leh.gh
Valley, each of which gained a point.
il is probable that the buying which
prompted the rise was in the nature
OF demonstration against the short
interest, which is believed to have
been increased largely within the last
week. The movement was not ef-
receive and the market soon fell back.
Among the less active issues. Nor
folk and Western was conspicuously
strong, with a 3 point gain. Several
of the Southern railroads continued
yesterdays upward movement. but At
lantic Coast Line and Louisville and
Yell back sharply to-day. Prospects
of record cotton crop, on which buy
ing of the shares of Southern roads
has been based. were effective also
In advancing American Cotton Oil. Allis
Chalmers preferred, after its recent
heavy break. moved slowly to-day, but
the bonds showed further heaviness.
The decrease of $4,000 tons in the
amount OF untitled orders on the books
.r - Ut 80 81,
September 30, as reported to-day, was
In a ineffective sense. Unexpectedly
favorable.
Shipments during September were
considerably heavier than in the pre-
ced!ng month, and a heavier decrease
than that reported was looked for.
The statement. however. was without
influence on the stock. Some gains
are reported in the volume of new
orders for steel products. but the in-
creases are small in view OF the low
prices now prevailing, and earnings
for the current quarter for some of
the steel companies are expected to
show a large falling off. The copper
rarket was heavy to-day. in sympathy
with the lower quotations reported
abroad In view of Yesterdays report
of the copper producers. disclosing a
large increase in stocks of the metal.
lower prices are looked Tor by some
consumers, although sellers to-day
made material concessions. EN-
ports thus far this month have been
light
Demand sterling again advanced.
The possibility of further gold exports
eXcites no apprehension. since the local
money market is still over supplied.
The unrelieved pressure of accumu-
lateL funds is reflected in a decline in
rates OH mercantile paper. some bus
mess now being done as low as 4 IA
per cent.
The bond market was firm. Some
OF the Southern and Southwestern
bonds We're especially strong. The
American Tobbaco issues were heavy
at the outset, but rallied later. Total
sales, par value, s2.254.0OO. United
States bonds were unchanged on call
Tota! sales, $4,000 shares.
New York. October lo.-Money on
call steady, 2l-4d2l-o per cent; rul-
ing rate, . Ia; closing bid. 23-S: Of
fered at 12 Time loans steady;
sixty days, 3@31-4. and ninety days,
3l-2@3 81; six months. 33-4@4.
Prime mercantile paper. 4 "a per cent:
sterling exchange firm, with actual
business in bankers bills at s4s315
TO" siXty-day bills, and at s4.s635 for
demand Commercial bills si.s675. Bar
silver, So l-2. Mexican dollars. 40.