The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-04-25
New York
Stock Market

& nervous uncertainty which has been
apparent In the stock market OF late
was more pronounced to-day. and the
list was fcvcrish most of the day.
Prices rose and fell IN confusion. nuc-
tuating between figures which showed
substantial gain from last weeks
close and n level which was the low
est OF the year
Fl Discouragement over the outlook for
Industrial conditions seemed to be the
chief reason for the increase in bear
ish sentiment the situation at present
being so confused that stocks which
have been held for months now seem
TO be coming on the market in fairly
large volume.
In spite OF the severe buTetinG
which the market received to-day. as
we'll as on the last two days OF the
previous week. in the way of short SELL
ing and liquidation. IL maintained a
strong undertone, rallying easily ar
ter ench setback, of which there was
quite q number. Before the close
stocks rallied vigorously. and the ses-
sion ended will good gains
The poor outlook for the steel and
iron trade was perhaps the chief cause
of disturbed condolences. The quarterly
report of the United States Steel Cor
poration which is due tomorrow Is
expected to show earnings far below
those of the corresponding period of
1910. Latest estimates of the report
suggest earnings in the neghborhood
of S2S.00oo00 The figures for the
quarter OF last year were S3T.6l6.00O.
while CT rninSs for tho last quarter OF
1916 fell 10 s25,?9o.00O. Reports OF
price cutting in steel. reduction In the
price OF iron ore. the falling OFF in
new orders since the first OF this
month. and uncertainty as to the eff
of 10 Ut
the steel trade. combined to affect
steel shares unfavorably United States
( Steel was sold heavily, trading in this
Issue amounting to about one-third OF
the entire volume OF business or the
exchange. Although it sold off to a
new low level for the year. good de-
mand appeared for It, as for the other
active issues. ut the lower prices. Il
Less attention was paid to-day than
on former decision days" of the Su-
preme Court TO the possibility OF rem
dition of findings In the antitrust
cases. The vigorous rally Of the last
hour apparently was due to over-ex-
tension or the selling movement. which
made possible an effective dcmonstra-
ton against the shorts. rather than TO
any change in feeling for the better.
The copper stocks we're moro promi-
nent to-day than they have been for
some time, and late in the day Anal
Eamated copper showed n gain OF two
points Buyers or these stocks OK
pressed confidence that a change for
tue better had taken place nj last in
the copper trade. l
The continued now of cash to this
centre, rs shown by the last bank
statement, caused further shading
OF rates for time money to-day. Some
loans extending over the first of next
year were placed at 3 "a per cent.
SAFE OF *l6.O00.0o0 Chesapeake and
ono three-ycar- old notes to n banking
sShaleate was followed by the an
houhcement that the notes had all
neeh disposed of by the underwriters
there being a keen demand for sec,ri'
YES OIL this kind on account of tho
difficulty Of placing funds at remun-
erative rates M
The bond market was irregular Sou,
York City issues were higher, notah,v
the new 4 LIS which touched lou
record price. -
Total sales, par value. 50 o5o ono
United States bonds were steady II
total sales for the day, 44s son
New York. April 24.-A1onev IN ~,
STEADY; 1902 as per cent. rp,inc
rate. IA; closing bid, . III. oesaraS
a. 3-s. Time loans easy: sixty dav.
II per cent; ninety days, oI-9Go
SIN months. 3. Prime mnrc.n,iis
PAPER 3 1908 per cent. SterInr
shange easy with actual bushes. H.,
BANKERS s,t bills mt s4.S4+o for sixtv-aa,,
nlis, ana at s4.s655 a s4S6so for de-,
ina ho' Commercial bills, si.S3 NJ. Rar
81 Is, Mexican dollars. Is.