The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-09-05
MARKET WAITING
FOR CROP REPORT
Security Prices Hold Well in
Face of Prediction of Fall
ing Conditions.
nv TpOkn.S WALL
ny BROADAN WALL.

New York. September i.-Thc stock
market awaits the government crop re-
port. duo Monday next. When 1t Is
considered that u general falling off in
conditions had been predicted security
prices may be consideyed to have held
we'll. Trading was largely profession
al. and while declines predominatcd.
losses were fractional
Action Of the commodity market is
watched by the bankers as = mariner
studies a barometer. Some rain fell in
the cotton section and the price Of
cotton reacted sharply in the fore
noon. Moisture is still lacking in the
corn fields. and corn rose l2 TO "a Of
cent. wheat and oats were nrrn.
The strength OF tho bond market is
undoubtedly the most hopeful feature.
The new 81. Paul il-?s touched i02 Is,
and New York City ALPS sold at l20.
Government bonds moved irrcgularly.
the So changing hands at an advance Of
rs over the previous sale. while gov
crnmcnt per cents declined 1-2 points
from the last transaction Bond brok-
crs report an Increasing demand tor
bonds OF n reimbursement character
with rising prices.
Foreign Markets Dull.
Foreign markets were again as dull
as our own: the Bank OF England
made a strong showing, increasing the
ratio OF reserve to liability; the Bank
OF France reported q small loss in gold
holdings.
\ rumor was current among the
bankers that both the Bank OF England
and the Bank Of France would prob
ably reduce their rates of discount,
and II is expected it will have a fav-
orable effect on the money market here.
AS an indication OF the better con
ditions abroad. an over-subscription in
London is reported for the $4,000, 900
Buenos Ayres loan offered at sc.
To-days stock market opened
shade under Wednesdays prices, with
dealings confined to Amaigamated Cop
per, Reading, Union Pacific and Steel;
/ drop OF a point in Reading and Union
Pacific induced the floor trader TO work
for lower prices. The market. however
grew extremely dull. Steel common
found support around g.; Southern
Pacific, on reduced volume of trading
swung about 50 -. Pullman. purely an
investment stock, lost 2l-2 points on
The rumor that all wooden cars are to
be replaced. this TO be accomplished by
leg islation.
American Agricultural Chemical
dropped 1-2 on reports Of unfavorable
trade conditions.
Demand for Copper.
In bright contrast came the rumors
from London that grave apprehension
was felt concerning the supplies OF
copper metal. with plans under dis
cussicn TO prevent any undue limitations
in prices.
1t is reported that 4 strong demand
for the metal continues from the
! Balkan countries for requirements and
repairs. Our own market for the
metal was strong. large producers ask
ing l6 Ii cents. and sales were re-
ported at 1871.
AS some of our large manufacturers
are short OF supplies. an increase buy
ing demand is expected by the Ameri-
can manufacturers
Utah Copper closed unchanged. while
Anaconda and Amalgamated declined
fractionally. Miami and Tennessee
Copper was steady.
Money Market.
Rates for call money rose to 4l-2
per cent on the broadening demand
caused by the withdrawal OF cash by
interior banks.
Time money was offered little less
freely. and sixty-day loans were made
at per cent.
Reports from Kansas City state that
over Sl,500,000 change hands daily at
the stock yards. These funds will
naturally find their way back to the
banks in short order.
There is an increased demand for
stocks in the loan crowd This indi-
Gates the attitude OF the professional
trader.
y canvass of the commission house
proves that there are no open specu
lative accounts on the bull side to
cause any uncasiness
with an unfavorabie crop report out
Of the way Monday. more hopeful
sentiment is expected to prevail. Tho
London market will be closed Satur-
day.