The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-06-29
New York
Stock Market

New York, June 2s.-Transactions in
stocks were marked to-day with the
same degree of irSeg ularity which has
prevailed most OF the time for the last
fortnight Public participation in the
market has fallen to a low point.
leaving the bulk OF trading to the
professional operators, Large specu
lators are not disposed to engage in
enterprises of magnitude. pending the
receipt of definite Information as to
the crops. and confine themselves to
day-to-day operations. the varying
character of which has given the mar
ket It's irregular appearance. There
was noticeable the continued effort
10 depress prices. particularly United
States Steel. London prices for Amer
leans were for the most part higher
before the opening here, but the gains
We're not traI sferred TO this mar
Ret where n vigorous selling move
E1ent was instituted at the opening.
After series OF fluctuations the mar
ket became decidedly weaker, and
closed With losses of a point o. more
for many of the active stocks.
Wabash stocks and bonds gave way
sharply following announcement that
the interest payment on one issue of
the bonds had been reduced This
action and the report that interest
payments on the bonds of a Western
road might be suspended were instru-
mental in depressing prices. The dis
appointing repo.,s for May OF the
Hartman roads checked the recent
advance in those stocks which were
unusually heavy. United States steel,
which made a smart advance in Lon
don and opened here strong, speedily
declined nheavy offerings emanatins
from a prominent commission house
The selling of this stock was checked
during the morning. but It shared
fully in the weakness which overlook
the market later, ia spite OF the re-
ports of continued improvement in
the steel business, which were con-
tanned in the weekly trade reviews.
Erie declined a point after 1T was
announced that the company had sold
S6,000.o00 equipment trust certificates.
Traders were perpleXed by the course
OF the local traction issues. in view
of the rejection of the citys subway
orer by marlborough Metropolitan
and its acceptance BY Brooklyn Rapid
Transit PETERBOROUGH Metropolitan,
which was weak yesterday before an
nouncement of the decision, became
decidedly strong to-day. and the re-
verse was true OF the STOCK OF the
Brooklyn Company.
Foreign exchange showed pro
nounced hrmness to-day, advancing in
more decided manner than for several
weeks The movement was ascribed
10 the purchase OF remittances in con-
nection with semi-annual payments
abroad, and. ii is expected. will be
only temporary.
July disbursements of interest and
dividends on railroad, industrial and
corporation securities. banks and trust
companies, the national government
and New York City are estimated at
seas, 900. an increase OF s20,S67, 900
over last July. In addition to these
payments. 1t is estimated that about
Sl2,o00.00e still is due the Federal
government in corporation taxes for
the fiscal year ending June 80. In
spite of these unusually heavy de-
mands upon the money market, how
ever, it is regarded unlikely that
there will be an appreciable harden,
Ing in rates, on account of the extra
ordinary case OF money which has
prevailed for months.
Bonds We're irregular. Total sales,
par value, s4,0+0.O00. United States
bonds We're unchanged on call Totals
sales for the day, $4,000 shares.
New York. June 2S.-Money on call
steady. 2l-4a21-2 per cent: ruling
rate, as; closing bid. 23-S: offered
at ala Time loans firmer, sixty
days, 2l-2 per cent; ninety days, 2l-2
az 81; six months. 3l-4d3l-2 Prime
10 A q