The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-04-13
New York
Stock Market
New York, April i..--'rhr stuck fx-
change decided to-dn, to clnhe on next
Friday md saturday, thus giving n
holiday from Thursday uutl Monday.

New York, April las Speculation in
stocks was all but stagnant to-da \,
ana pltces barely changed, Almost the
only business done consisted Of the
evening up Of accounts in preparation
% ne Caster holidays in advance OF
whirh traders old not desire TO embark
upon f:esh venture.
There was some further selling by
tircd holdcrs and the drift OF tile
harriet Continued downward, although
The snort selling OF yesterday was no.
resumed Within the last half hour OF
trading prices were advanced to the
best of the day on somewhat more ur-
sent inquiry from the short Interest
and the close showed small net gains
FOR most OF the active issues Much
0f tl.e time the market was at stand
still During the noon hour sales
amounted 10 less than 5000 shares. tile
loves, for an hours business III many
Wears Total sales for the day were
10000 shares. the low record in about
,Wc years.
PENNSYLVANIA was one of the few
stocks which displayed any activity
II broke nearly a point when the news
came that the directors had arranged
dchniteiy for 10 per cent allotment
Ia Shareholders Tie outcome OF this
tltSItUE W III ~ " SANsit''i W LII uu'isctistl
interest in view oC tho fact that it Will
be Inc irst IN several years TO be
made direct 10 the stockholders. in"
stead III To underwriting syndicates.
'l'le last previous offering direct 10
shareholders met with Indifferent sue
eess, and traders in view Of this fac.
Interpreted to-days Offering as bear
ish factor and sold the stock.
Missouri Pacific. which broke with
10.
and ended the day with a Slight gain
More than 100000 shares OF this stock
have been sold in the last fortnight,
and the source of the liquidation re-
mains puzzle. The February report
Of the road shows that while gross
earnings fell off $4,000. the shrinkage
in net was kept down to $4,000. by
reason Of reduction OF operating ex-
penseS.
! The weekly review OF the iron trade
Indicated that In point of new bus
iness the markets for finished ma
terials and for pigiron have been
uuieter in the last week than in any
other week since January. While mill
operations are being maintained on
about the same basis, new orders are
not being received in volume sufficient
to keep up the present rate OF pro-
duction for any considerable length Of
time Reports Of price shading on sew
eral lines we're confirmed by Pit,sburg
advices.
The bond market was again rela-
lively more active than the stock mar
ket The abundance OF cheap money is
the main factor in maintaining n
moderate demand for bonds, which is
expressed In private sales OF fair
amounts each day, as we'll as in the
sustained volume Of trading on the
exchange at a time when dealing in
stocks is at low ebb. Short time money
was somewhat easier to-day. The
banks continued to gain on the direct
interior movement. but sustained a fur
Their loss in their operations with no
suhtreasury.
Bonds We're irregular. Total sales.
par value, s2,276,ooo. United States
bonds were unchanged on call
New York, April 12.-Prims mercan-
TIE paper, 81 to per cent Sterling
exchange firm, with actual business in
bankers bills at s4.s415; for sixty-day
bills at s4.s6S5 for demand. CONNER.
cial dis, s4s475 Bar silver, 531-4
Mexican dollars, As.
Money on call steady, 2l-4@9l-o mr.
cent; ruling rate. 23-S; closfnp hid
a-s; offered at 21-2 per cent. Time
ioans easy sixty days. 21-20os-. ner
sent; ninety days, 9 ga six months 2
per cent. .