The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-04-22
New York
Stock Market

New York, April 21-The tension for
the last few days in Wall street was
relieved to-day with The passing OF
tho so called Missouri Pacific affair
from tho place OF the predominant In
tcrcst which il has occupied much of
the week. Tho street seems TO have
arrived al the conclusion that tho Gould
interests have made definite and fav-
ora bic financial arrangements. and
thai tho Rockefeller influence III the
Gould properties a S n whole has been
materially strengthened. 1t is said
that The recent changes in tho dircc-
tdrate OF Missouri Pacific would make
no Importance difference in the plans
for the Improvement of the property
which were mapped ont several weeks
ago. Numcrs Of railroad and banking
wars. OF rcprisals in tho form OF So
we're competition by the Hartman lines
and Of hostile moves by banking in
forests Which hcretoforc worked in
HARMONY with the Gould interests wero
circulated, hut were secuted in well
Informed quarters. l
The stock market was heavy. IN
spitc Of tho relief which was felt over
The settlement OF Missouri I'acifcs ar
fairs, uneasincss as 10 which WAS
largely Responsible for tho unsettled
conditions " previous days. Missouri
Pacific barely moved through tho day.
and the market as whole WAS dull
and unintcrestinG. with business on
much smaller volume than on three
previous days. Tho heavy tone which
characterized trading seemed 10 nc duo
70 no small extent TO tho continued
unfavora bic tenor OF advices OF in
dustrial conditions Reports as TO ithe
outlook for The steel and Iron trade
were especially depressing. News from
tile southern iron fields stated that
large number OF blast furnaces had
been closed, and that work had been
stopped OH the constructions of huge
wire mill which was hcing erected in
Alabama. W
The belief is gaining ground that a
revision of schedules may he found
necessary IN the near future as stint
Iltnt to business The reports of the
5ron ore interests who have been In
conference here during tho last few
SAYS have completed their work. and
It is believed that prices for tho sea-
son will lac announced soon at a figure
lower than that of last season.
iIiduidalnn in the fertilizer stocks
continued To-day With especial weak
ness in american Cotton OH, concern
Ing which It is now said that n divi-
6cnd suspension or reduction may he
decided upon.
United states steel was under pros
sure and closed ~ about tho low point
ri the day. In spitc OF the ncavy I'M
dcrtonc, net losses IN tho day were
slight. larcoly because short cover
ings prevented any extensive rcces-
sions. The ease of money. which CON
tinues at tits and other large centres
of the country. has Induced banks to /
employ thor Idle funds In the pur- |
chase Of bonds and short term notes Il
situation which is favorable To further
financing which ii is understood tho |
railroads have in prospect The New
York Central note issue OF $4,000 600 |
recently projected was formally an |
nounced to-day tho amount being in
creased to sSo.ooo.poo. The bankers in !
charge of The operation announced ,ha,
the entire issue was We'll taken
The first Of the March railroad re-
ports. that of Lehish Valley, given out |
to-day, fulfilled expectations Of changes
which were looked fpr in tic first fun |
month after tho han,iine down Of tho |
Commerce Commissions de- |
cision refusing 10 grant increases in
freight rates While the operating OK
penseS OF tho line named last month
Increased $4,000 tho Increase Is far
below that Of former months The
average gain In expenses for Tho prev
ious eight months beine moro than
SII5.ooo. if1
The bond market Was steady. Total
sales, par value. si.5oi,OOo United
s;tatcs bonds we're unchanged on call. |
Total sales OF stocks for the day were
16l,loo shares.
New York. Anril ol.- Money on call
STEADY. 2iiT@ as rcr cent. ruling
rate, -; closing bid 1-4; offered
Al 9'3-S Per cent, Time loans very
dull. sixty days. ? lo per cent: ninety
DAYS. . cT23-4; six months, . 3-4G
5 per cent. Prime mercantile paper.
- liz tn rcr cent. Sterling exchange
eteady, With actual business in bank
ors' bills, sis4Ao for siX,y-day bills.
and at si.S6;5 for demand CONNER
cal hills sass rs. Bar silver SO
SIS. McXican dollars, i5