The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-06-11
SHORTSINN MARKET R
BECOME WORRIED
There Is Cautious Covering
Throughout Session Of
Exchange.
THEIR WISDOM APPARENT
announcements INC ''n, Of Steel Trust
Taken to Show That Tide
Has Turned.

New York. June 1o.-shorts In the
STOCK market became Worried to-day.
ana there was cautious covering
throughout the session. Wisdom OF
this move was made apparent whom
: the steel trust announced Just at the
close OF the market that untitled or
drrs on its books were only io5,OoU
tons less on the LIST of June than on
the Isl OF May. This is not half the
bhrinkage expected. and is taken TO
mean that the tide has turned In the
Of the day. =.
Erie was leader toward the close.
touching a new high record and justi-
iylnB In It's market action the reports
that have been made concerning the
condition OF the property. Among
ether railroads. Onion Pacific was
POINTS most of which was held,
Atchison was firm. and the attempt
Of a news Bureau 10 get an official
be expended In Notwithstanding. wac
failure The money viii be spent.
4 and Aichison stockholders must re
member that money expended In
than almost any other Investment.
N The Westinghouse annual report Is
expected Monday. and Will show above
per cent. earned on the common
tors will also be named in few
days. They probably Will be Joseph
Walker. one member Of the firm Of
the National City Bank.
American Beet Sugar is being pur-
chased for Keeps this time by the In
slders. and a dividend must be ex-
pected before many months Rock
Island preferred is being accumulated
by strong interests, who are planning
an important movement in II.
New high records In the stock mar
kct carly this week were the re-
crop reports IN the Northwcat The
oiiiciai report OF the government is-
sued on Thursday was not quite as
optimistic as The preliminary csti-
ma ties. but 1t still promised harycs,s
greater than those 6f last year. The
only cloud on the agricultural
horizon IL the lack of rain in the
Western cotton bel; and in the winter.
wheat and corn belts It's showering
In these regions. hut soaking rains
gre needed The Increased acreage
year that considerable deterioration
4 can he suffered without bringing the
total Of crops down 10 last ycGr's
high level.
i, is idle thus early in the season
10 pretend TO give the exact number
OF bushels OF bales Of anything to be
produced. but the outlook is such as
To Justify expectations OF railroad
tonnage arising from the crops equal
at least TO that OF last year. and the
railroads are not prepared TO handle
hucHsn tonnage without buying heavily
Of new equipment and rails.
The leading banks have decided
within the last week that the crop
situation is good enough 10 justify
then, in taking q buiish position on
the security markets. ~ banking In
terests is meant the really important
leaders of finance and not bankers
and brokers, or spectators
f These big people feel that there
must be readjustment OF the respec
tive levels. II would require at. least
a 10 per cent. advance IN the stock
market TO ADJUST stocks AMI money
properly. even taking into considers
tion the fact that such in advance.
together with the expected increase OF
business. would put money rates UP
somewhat. et#