The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-09-15
MONEY SITUATION
AFFECTS MARKET
Rates Move During Week to
Highest Figures Touched
This Season.
TRADE ACTIVITY LVELIER
Each Day Brings Story OF In
creasing Orders in
Every Line

only a nominal amount OF business
transacted IN the Stock Exchange to-
day. and prices Of securities remained
sImost entirely unchanged throughout,
the day. ana from those OF Friday
The only prominent exception WAS "A
rise Of a little over a point in General
Electric stock.
Quotations COR wheat and corn de-
cilned. as did also that O; cotton
while there were reports OF q Gulf
storm that might spread TO the in
terlor Of the cotton belt. The end-of-
week bank statement bore out anti
clpations as TO It's favorable character
There was II decrease IN the average
surplus reserve of y24Io.0eu. but in.
the actual return. which Is. of course
the more Illuminating document, very
heavy decrease ia loans resulted Ia
small increase Ia the bank surplus.
There were many important ansn-
cial and business annqnncements last
week. but they affected the stock mar
kei very little and the small interest
IN this market centred in tho money
situation. Both the call and time
money rates moved In the week TO
highest figures touched this season,
and stocks declined under the selling.
both accounts prompted By fears o.
money stF!ngency. i stronger feeling
prevailed the week neared It's
close. because OF the highly encourag-
ing DEVELOPMENTS IN the sterling ex-
change market Sterling. which had
been steadily weak. previously col
lapsed on Thursday. which would ui-
doubtedly have resulted .n gold i'm
ports II the low point reached hadi
been maintained. II is also settled that
tho national treasury Will make large
deposits OF public money IN the banks
II rates FOR money should get AT all
Internationally close
There arc those VINO tank that the
crops viii move % the markets more
quickly tfl- year than they over have
before. ana some basis for THIS /. al
forded by The figures 81 the move
ment OK the wheat to the primary
markets q the mrs, TWO weeks OF sep
tember Genera statistics snow that
the countrys grain traffic Us now PSI
per cent above the nve-year average /
Probably iho wonderful favorable I
crop report made by the Government
las' Mouday dia net take Wall street.
hy SURPRISE but the auures shown
were nevertheless stupendous The
'olniry's Harvesis this year will FAT.
u-tfll consideration in tho agrre-
pat" an previous records Tho only
'4llins on shown 90 any staple was IN
winter wheat and TINS was because
the uniavorsolo character OF the
weather a; ine winter wheat planting
time last timo carried over into the
present season.
Msanwhue trade activity IS becom
iug iveilsl in every direction. ana tho
'po.is ln III the ffereur trade cham
u-ls hesiu 20 ~ sprnklca with i'm
proving report Each day brings a
story ~ increasing orders In every
which is now IN fun PROGRESS started
several months ago. IL was properly
diagnosed as being more renlcuish-
ment ~ stocks hy consumers SUPPLIES
ot goods had run down 10 low limits
ard ncces sarily had 10 be augmented.
hai H." Question was SIN uuansw cred
whsther wncn this replcnishmeni was
supplied the buying movement would
or would not cease The answer has
heen clearly enough given that buy
ing 'oF The future after the old-time
fashion is sun gong on
The inters sting event ~ tho week
vas the Copper Producers Association
showing considerable d-creas. IL,
stocks % copper despite large I'M
crease in tho volume ~ production
and the United States steel Coiporn
iior's statement % an Increase OF 9O6
coo tons In the untitled orders at the
end Of August
II has reen complaines ria, ~.
market failcd to respond To- good news /
II has been favored bv f.vorsf,. an.
nouncemen,s and developments fror,
the CROP sections and business circl4a
for more than a month. hut has acted
as II surfeited and too torpid 10 take
notice OF anything in ,he way of good
news. II is Wall street adaec thar
a market which does no, respond ia
sood news is market to beware OF.
After the extraordinary GOOD govern
mcnt crop report ON Monday. for i'm
stance New street cynlcaNS remarked
that u would probably produce "a ten
point break but since tn, declaration
of ne southern Halfway preferred
HiNiaena carlshnoss produced hy this
theory mas been mitieatcd The stock