The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-07-21
MARKET CLOSEST IN
STABLE CONDITION
Trading in Stocks Is Largely
Perfunctory on Satur-
day.
EVENING UP OF ACCOUNTS
Indifference Displayed to Pre-
dictions OF Amendments 10
Sherman Law.

New York, July 2o-Trading in
stocks to-day was perfInctory as Is
customary on q midsummer Saturday.
The turnover was bit less than So
OVO snarcs. and except tor advances
ia few spcclalties. most OF the trans
actions REPRESENTED the evening or
Tac trend Of the market having been
uYWarl In the other days OF the week
* was natural tnat realizing sales pre-
dominate ana 70 them may be ascrlDed
the fractional declines In most oi the
active stocks The market absorbed
readily whatever offerings were made
ana seemed 10 be In Il sound condition.
indifference was displayed 10 the
predictions That the Stanley commits
sion would recOmemnd amendments
10 the sherman law.
From London the cables brought re-
pO.is OF q cessation oi decline In high
grade securities there. which has been
tae most disconcert!ng development OF
t"e Week Here ine most important
DEVELOPMENT was "a bank statement
"A!cn should alay an apprcher-
s.ons al any monetary d.iicultics
calculated 10 disturb Ia. security mar
kcts o. inccmmode business men.
The statement " banks a. taa close
OF ous!ness on Friday showed q con
traction OF more than si5.O00.OOO 81
tna loan account OF increase O: approX-
iInately S3.5OU.OO0 IN cash holdings
an Increase OF about tho same amount
in deposits and an increase OF ss,5oD.-
ogD IL surplus reserve. The surplus
iB now about slt,O00,0U0 wn!ch IL 4
Sufficient amount TO insure cont!n-
lance o: easy money rates for some
In the course OF tho week. stocks
Itcofc3ea The losses sustained In the
previous week professional specula-
lD!a q tHe majority Of them. professed
hear.sh sentiments. c!lat!ng upor uolf-
tics. the continuing Abundance Of Ia J.
i-a! proposals regarding corporations
NE decline ~ consols az LONDON TO the
!p"est price II seveaty-siX years and
inc depression ~ most 81 the foreign
natheis But - "as noticeable that
enough bearish operators. w.ich after
d-ced 70 oly ;n stocks sold for DE-
t.Ire ana that market which SCENE!
- BE- theirs the previous week had
turned against them i may have
been thar most of the advances O.
tie week were due TO tho covering 81
aHort contracts the fact remained that
eEee.-eni reasons FOR the re;iremen, o;
snort contrasts and purchases FOR long
account We're supplied by The action
ot the commonly markets and the
< ewing reports from pslctcany all ol
Tie rrice OF tne new crop whea,
opiipns broke approximately cents
hAhhel ~ ine course 81 tie week and
steady declines in corn indicated plain
- enough D general belle. In a great
Improvement ln crop conditions Rail-
road managers. foreseeiug an eNcep-
,ler.l as'.anA ior cars ;o- the move
men ~ the cropf and many tardy
SION for NE more remote future by
i4ec.at r-taer substantial orders 70,
N'lncet to-day provisions tor the pur-
sA"s. * S5o9po9 new equipment Tor
me Boston and Albany Many other
,,t.'''-Gs a4Ne nlea 'n4a'r'es tor cars
rae steel trade has prof.ted from
iEe op prospects ia th.s and other
ways. and the iuil 50 trade Improve
men, has been succeeded by q Now
forward impulse Orders are more nu-
necous and business IS being done at
AlSher prices. an advance III wire
prices hy the American Steel and Wl-r
company ae!tg oro of the trade move
AntAis pelF!.s direct relation - Tn.
crops The copper market. unsettled
IN ihe previous week became st.asier
.est weeN tnc decline ia i, being
STAYED Inc market .vas little arfectct
nN the decline w consols and Other
h.sa grade securities Ia London. IL
nofec .oca! political developments and
closed the wees IA an apparentiy
stable position.