The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-04-26
New York
Stock Market

New York. April 25.-Some
was made in the direction of higher
prices on tho Stock Exchange to-day.
despite the fact that the pressure
which has been directed against stocks
In the last few days was not relaxed.
The market displayed strong powers OF
resistance. and, after a period of weak
lied and held firm. Fluctuations were
signiicant only of the temper of pro-
tcsSional operators, however, that elc-
mrnt making up almost the entire mar
ket. Operations on the long side were
60 rried on more boldly. on account of
tile belief that liquidation had ceased
for the time. and heavy buying at the
lower prices established in the first
hour brought about the upturn speed
ily.
4 large part Of the days business
again centred round United states
Steel. Trading in the shures eonsti-
tutcd nearly o~ns-third of the ota
many OF fair-sized blocks changing
hands.
day was ascribed to a report of Chair
IMAM Gary'S resignation. The report,
however. was quickly denied by the
chairman. and the stock recovered. The
Quarterly statement Of The Steel Cor
poration, issued after the close OF the
market, was disappointing. estimates OF
the earnings having been in the neigh
$3.50 ' - ~ a ~ AiS oIpIN.
The Unexpectedly small figures for the
quarter were explained largely by the
January earnings. which were less than
Conjectures as to the prospects for
reductions in steel prices are being
stimulated by the belief that this sub
jcct viii como UP Tor discussion at to-
inorrow's luncheon of stcel-makers,
md again at THE dinner which is Ia
be held on May 4.
ACTIVITY and strength OF the copper
shares during the last two days. and
reports OF huge sales of the metal
was followed to-day by the state
mont that one of The largest agencies
had reduced Its selling price of copper
from u i-2 cents to 12l-4. 1t is TN
derstood that large sales were made
at the lower rate. Consumers who for
several months have been buying only
Tor Immediate requirements are believ-
reach a low point, II 4 better inquiry
IS expected. Exports of copper this
month are reported AS having been
larger SO far than was expected. and
%ducers, to be issued early in MAY
may be more favorable. Accumulation
OF the copper stocks and ~vancin
prices continued to-day. Amalgam ted
smelling a half.
The Hartman shares we're Affected
aaserseiE at the opening by the ruling
hgaihsd Sontnern PACING in the Oregon
$3.50 Al i ] WHICH
lost "A point, quickly recovered, and
Union Pacific was one of the
stocks at the close.
1igh-Grade bonds continued in good
ueinand The successful Notation OF
me $4,000, 000 Seaboard Air Line bond
issue by the underwriters was an
nounced, as was the sale OF 100000
!. Per cent. bonds of one Of the sth.
sloiary companies Of Louisville and
The bond market vas arm. total
s.!es' par value, sS.lss.o00. Urited
states bonds unchanged on call.
Total sales for the day a70.5oo shares
New York April 25.-Money on call
,,etaN, z l-iQ2H3-S; ruling rate. 2 ~.
losing bid, . III; ofered at . All
me loans dull and easy: sixty days,
80 per cent; ninety days, 23-4; Sin
ohths. 9 Prime mercantile m ne,
l-2gt per cent: sterling exchange
NIT, with actual business in bankers
'iis at S4.S4i0 for sixty-day hills ANA
siss55Is4.s66o for demand. COM
heEcisi bills. s+.S3 80. Bar silypr