The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-09-08
MARKET TRADING
IS PROFESSIONAL
Public Generally Takes Very
Little Interest in Move
Is mcnt Of Stocks.
TH'Ct RANGE NARROW
Wall Street Is Paying Little
Attention TO Political
Developments.
IsPeeial TO Tho Tlmes-Dlspatch.l

t"P1N'f' 10 ne INES DlSpatcn.l
New York. September Tie was a.
typicslly idle half-hoiiday stock mar
kct to-day Trading was against al
most entirely professional Prices
moved in narrow range and net
changes at the end were Of little CON
sequence. The copper shares we're rath-
stronger than any other group. and the
market as whole was nim through
out the SESSION. Traders paid very lit
Tie attention to the action Of tho Bull
MOOSE after the Vermont election. and
IN" market failed TO respond 10 poll
tlcal development. Whatever interest
was displayed was centred on tho bank
statement This again provided "a sur
PRISE ia that cash holdings decreased
more than Sio.OOo.000 more than tho
amount had expended. It is obvious
that money has been going 10 the in
terior TO- crOp-movins purposes more
fapidiy than is customary SO carly in
tho season, but FOR that matter crops
arc moving to market much more,
rapidly than IS customary AS pr-
tai Offset TO the heavy loss In cnsh
the bank statement showed a contrac-
ton Of s2S,ooo.ooo IN the loan account.
rejecting, no doubt. the transfer o.,
loans from clearing house institutions
TO interior Institutions and others in
this city, nslcs OF securities ana the
tranHfer % loans to London and Paris.
The surplus reserve decreased $500
600 and now stands at s275i 600. as
compared With s23 26s 900 al the end Of
the week last year. IN the coming
week the reserve prohably xiii 0c
strengthened by the return ~ Septctn-
beF interest and dividend dishursc-
ments though tho continuance o, incl
heary demand from the Interior as
tnres continuance n arm money
The foreign exchange market failed
to rally from tho weeks decline OF nf,ri
points, The most abrupt Of tho year.
nd bankers were conndcn, that II
business continues good ana the cotton
crop comes NJ TO .xpectauons all the
money needed from Euroqe can %, sc-
cured IN the course 81 the week n
nance bills 10 large amount, worel
placed In London and Paris against
nesvy exports o. grain made lately
and expected heavy exports OF grain
and cotton in the near future
Foreign statistics SHOW grain cror.
below 'ha average in Eurorc and
since IL De- expected thai tho govern
mont grain report 70 bo isrucd Monds i,
"iii show crop FAR above the aver
asc IN this country much should be
realized from grain exports a, good
prlces
Aaaiuonal emphatis OF the rapial,y
% me movement ~ the crops was
supplied hy tho fortnishty bulletin
81 tho American halfway Association
Tfis showed reduction Of a4ll in
inr number OF Idle cars on tho ran-
roads ~ this country and London.
leaving the net surplus az tho lo-v
ng--e * $3.50. rs compared Nth So
3il ~ the same time last year Tho
lacrosse IN the use Of cars was re-
ported from The Northwest and Wos,
whence the grain crops are moving
70 market with extraordinary rapid
Quite unusual business progress vas
also Implied b. the customary week
- compilation OF bank cloarinrs Ac-
cording TO H. clea-ings the country
over Increased lss per cent over cor.
responding week last year In New
YORK though stock market business
was much quieter. ciearlnss increased
- per cent, and there were increases
Of IS ~ per cent in Boston. II Der
cent in Chicago and per cen, In 81.
Louis Seldom In the past has such
favorable comparison been sun
piled.
New York. sep,emher Money an
call nominal No loans. Time loans
frm; sixty days. 3-ia5 PEI cent.
and ninety days. per cent. six
months. ; per cent. Prime nerean.
tile paper. ~ per cent sterling
exchange steady. at Sis3i0 FOR sixty
day bills and at 81 $40 for demand