The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-06-20
New York
Stock Market

New York. June ia substantially
higher range OF prices prevailed
through the Sreater part Of the day
in the stock market. and the weakness
which was exhibited in the latter part
OF last week disappeared The i'm
proTemcnt was attributed to favora bl q
developments over the week end and
TO some increase in the outside demand
for stocks. Commission house orders
we're said to have reached a larger
total than on any other Monday in sew.
eral weeks, and although trading fell
on somewhat at the higher prices the
Inquiry was sufficiently keen to pre-.
vent setback and 10 discourage at.
tempts TO depress the market 1T was
not until near the close of the day
when profits were taken. that stocks
lost portion of their gains.
Successful Notation OF the Panama
bond issue was OF decided Influence in
encouraging and returning spirit OF
optimism in the financial world, and
doubtless was responsible to some ex.
tent for the course OF the market to-
day. The bonds sold when issued, in
large amounts on the curb to-day at
LOB lis to iO3 3-1t. the rise in price
from l02 81, at which they sold on
Saturday before the bids were opened.
indica ting that the offers ranged some
what higher than was expected a
comparison OF the amounts which the
successful bidders will pay with the
quotations of the securities of foreign
countries demonstrates the unrivaled
credit which the United States govern
ment enjoys among the nations of the
world. That huge amounts OF money
are awaiting investment is indicated BY
the manner in which the issue wa
over subscribed, fact which has
aroused expectations of a large de-
mand for railroad and other corpora
ton bonds from bidders who were not
successful in obtaining portion Of the
Panama loan.
a further favorable inhusnce was
found In the government report on iron
and steel exports. From time 10 time
during the last few months indefinite
statements have been received of the
Improvement in this branch of the iron
trade The governments estimate OF
the aggregate value of these exports
during the fiscal year placed 1t at more
than $4,000, 900 above the highest
previous record. a showing which ex-
ceedcd eXpecta tions.
Crop reports, which are being watch
co with increasing interest in the stock
market. We're confused to DAY and un-
favorable adrices from the Northwest
were associa ted with the comparative
heaviness of the Hill stocks The rail-
road stocks as whole. however. were
the strongest in the list. There was a
good demand for the copper stocks, and
AmalEamcted Copper sold at the high
point of the year. The trading in this
group was influenced by the continued
Improvement in the metal trade The
electric stocks also displayed unusual
strength general electric rising three
points The annual report OF Interna
tional Mercantile Marine showing II
decided Improvement in earnings,
caused brisk buying of both common
and preferred issues, which improved
price. '
The bond market was nrm. Total
sales, par value. s2.6o9,oo United
States government bonds were un-
changed on call Total sales for the
day, 279,1o0 shares
New York June ls.-NIoney on call
steady,2 3-s@e l-2 per cent. ruling
rate. 2 as: closing bid . ia: offered al
as. Time loans steady: sixty days,
2l-2 per cent: ninety days. 3-4 six
months, 1903 1-2. Prime mercan-
tile paper. to IL per cent Sterling
exchange easy with actual business in
bankers bills at s4.S4 for siAty-day
bills, and at st.S575 for demand. Com
mercial bills, S4.s3 l-2. Bar silver, SO.
Mexican dollars An