The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-12-05
New Y ork
Stock Market

New York. December i.---with a new
session OF Congress To-day and pres
idential message for tomorrow to in
hucncc trading, stocks did little to-
day. Not many Issues moved as much
as point either way. When trading
WAS begun the market looked heavy
on account of small declines among
some of the speculative traders Prices
soon rose to about Saturdays close
but during the afternoon drifting
downward again slowly. Before the
close the demand increase probably
on account OF the shor, covering ant
the declines. were largely made up.
The hesitation shows by the mar
kct at the time OF the converting of
Congress was due to recognition OF tho
fact that at this, session legislation OF
great concern 10 the business interests
Of the country is 10 be considered.
The question OF governmental control
OF corporations, the revision of the
tariff. the sale of securities by rail-
roads as taken up hy the lIadley COM
mission and proposals for currency
legislation. all Will probably come up
for discussion. and II is generally be-
iicved that the dominant inter, SITS In
the stock market will be slow to take
decided position until 1t is possible
10 gain some idea OF the probable
trend OF events at WashinSton Re.
cent discussion of the trust problem
and hearings by committees from Con.
grcss have served to heighten the in
tcrest which is felt in the activities OF
the ma tional legislatures this winter.
retiring Of the oiu Standard Oil
ma ma cement had only an indirect hear
ini, upon the securities market. and
found no reflection In the movement
of prices. Standard OIL stock remain
cd unchanged at $50 bid. after an
nouncement of the change.
II was generally understood that the
change was largely nominal one and
that the men who within the last few
years had been gradually taking over
the work of the older officers would
continue IN active control.
Tho unexpectedly poor showing OF
the bank statement on Saturday was
reflected in the time money market
to-day. Rates for sixty and ninety
days were higher. and there was bet
ter inquiry. Call money, however. was
easier. some loans being made at as
low a figure S 4 per cent. as com.
pared with the maximum of . per
cent. In the latter part OF last week.
There was further heavy trading to-
day in the Gould securities. especially
Wabash stocks and bonds. which dis
ferred and the per cent. bonds at
one time showed gains of . points or
more.
Some OF the Southern stocks were
strong, with Louisville and Nashville
and Atlantic Coast Line making the
best gains. Among tho inactive stocks
Underwood Typewriter and Texas
Company showed pronounced strength.
Bonds were Irregular. Total sales. par
value, s5,o66,ooo. United States bonds |
we're unchanged on call Total sales !
OF stocks for the day were $4,000 |
shares.
New York. December money on !
call. i45 per cent: ruling rate. 5; !
losing bid, Ii; offered at il-2 per
emit Time loans firm sixty days. 40 /
.!-i ner cent: ninety days. 4: SIX ,
months. 33-iai. Prime mercantile |
paper, iGil-2 per cent. Sterling OK
change stcldy a. decline, with actual !
business in bankers bins at 14,s3 for /
siNty-day bills, and at 3i.s5l-i for |
demand. Commercial bills. S+.s2 Ia. !
Bar silver, 553s Mexican dollars,
. L..