The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-05-16
New York
Stock Market

III New York. May l5.-Tradlng in
stocks was reduced TO a minimum to-
day. and prices barely moved through
the session. Wall Street pissed the
DAY in awaiting word from Washington
In regard to decisions by the Supreme
Court In the Standard Oil and Amcri.
can Tobacco cases. AS this was one Of
me TWO days ON which the decisions
might be announced. prior 10 the adj.
jonrnmcnt OF the cour, for the summed
recess, IL was believed generals that
there was "A strong possibility that
sinai action might be taken to-day In
these cases. The tension Was not re-
licved during The day, no definite word
having been received from Washington
At the close. Business WAS restricted
to the smallest total for some time.
but the market betrayed no nervous
ness. and the undertonc was distinctly
iirin.
Thorough preparations had been made
In the way OF reduction OF speculative
commitments for the rendition; OF de-
cisions, and the market appeared to be
braced to resist attack shuulo one be
made y feature of the trading was
the scant supply OF stocks. even in the
issues in which there is always an uc-
tive speculative interest This was
especially noticeable in the late after
noon when prices rose fractionaliy.
Canadian Pacific moved UP more than
a point. Union Pacific made the best
showing of the Western roads. advance
inS substantially in response 10 q
steady inquiry. which was reported &c
come in part ut least from Paris. Buy
ing of the Erie issue. which has bc9n il
progress for several days, was resumed
o-day. and Pennsylvania continued It's
downward movement. The latter stock
touched it's lowest price since 1907
Warrants for the allotment OF new
stock have been forwarded to share.
holders. and II is supposed that mucll
of the supply of stock which has de.
pressed the price lately has resulted
from sales against the stockholders
rights" Hf4if i5H
Statistics OF imports for April re-
vealed the expected falling OF In val.
ues, which Is escribed largely 10 the
possibility OF changes In the tariff
The decrease amounted to $4,000, 600.
and although exports fell off heavily.
there was an excess OF exports OF ST.
$4,000 against an excess of Imports
in April of last year OF ssoJ.oo0. The
April statement testifies again to the
great change for the better In the for
eign trade position of this country re-
sulting In the accumulation of huge
credit balances abroad during the past
few months.
Traffic officials of Western roads were
reported as being more optimistic on
account of the manner In which bust
ness Is holding up. Most of the East
ern roads have been running ahead OF
last year of late. Further economics.
are being practiced by many of the
transportation companies. and better
showing is hoped for in the April re
turns. Reports from the steel trade
were conflicting Some improvements
In Inquiry and for steel rails was noted
ut Pittsburg. but 1t was said also that
tile price OF steel bars might be re.
duced this week, and that quotations
for Iron ore were being shaded, In spite
of the reduction recently made.
London bid UP American stocks be.
fore the opening, causing slight rise
In the early trading on the local cX-
change. International transactions
were OF small volume. London selling a
small amount.
Bonds were irregular Total sales.
par value s2.ols,ooo. United States
twos and fours, registered. declined
one-eighth on call.
Total sales of the day. 1ae,soO shares.
New York. May l5.-Moncy on call
steady. 2A@2!a per cent: ruling rate,
rs; closing bid 2sa; offered at 2E.
Time loans steady; sixty days. 2Is per
cent? ninety days. c1aG2% per cent.
six months, s0Sh per cent. Prime
mercantile paper Sla TO per cent.
Sterling exchange steady. with actual
business IN bankers bills AT s4.s44U for
sixty days and $i.S6S5 10, demand.
Commercial bills, s4.sS7s. B4r silver.
6Shs. Mexican dollars. 10.
RICHMOND STOCK MARKET. M