The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-06-09
MARKET NOW DUE
FOR SHARP RALLY
Foreign Attention Straight Fixed
Upon This Country for Turn
Towards Optimism.
NJ BROADAN WAI,L.

New York. June S.-The recent Mex
lean loan Is expected to prove a bar
gain Tor tho bankers. The rate was
unusually high and the opinion is
gaining ground that Intervention upon
the part OF the United States is a mere
! matter OF months. Conditions have
grown steadily worse under tho now
administration In the City of Mexico.
ana a,n r II, is no longer boing shipped
VIA Ell Paso from this country. Tho
smelling industry. too. Is suffering
more than ever. and Americans with
interests In this distracted land are al
their Wits end.
Appeals to Washington for aid are
! apparently pigeonholed. pending such
| complications as tariff revision, cur
rency reform and the Japanese question
| that will not down.
! 1t is considered uncomfortable that
any other country should be allowed
| TO intervene in Mexico, and the onin-
when the United States decides 1t is
time to bring order out of chaos the
National Railroad OF Mexico will be
operated by our government to the
| profit of security holders.
THESE are hard days for the nation,
the corporations or the individual seek
inS funds or wishing to renew obIiRa-
tons Lenders dictate terms at ad-
vancing rates
The Chicago, Milwaukee and ST Paul
estanished minimum figure for the
railroads at 1-2 per cent New Yorl,
CITY barely got through with its re.
cent issue at the same rate, and the
snort term notes of the State of New
York raised the price of money to
ABOUT rs per cent. As these are all
prime securities, 1t means that borrow
efs with less than the best of credit
ind rates prohibitive. The theory that
the end OF the Balkan War would re-
tease Hood Of money for investment
Is completely abandoned
London Is overloaded with state ia
sues mat nave failed to prove attrac-
ave Berlin In the last week had 10
race a request from the German gov
eminent for funds. and such request
was a demand that could only be met
by the prompt liquidation of speculative
Issues.
me contraction of credits is steadily
progressing
For some time it was hoped that a
favorable decision on the Minnesota
rate case. that may come tomorrow,
would give strong upturn to prices
even thls is forsaken in the fear that
II decision against Minnesota Will up
set the rulings of the public service
commissions in the various States.
"here before sweeping decision
was expected. compromise Is now
looked for This is, of course, all sur
1850 puN thCic Is undoubtedly a strong
teellng that as bull factor the rem
derins OF a favorable decree will be
round to have lost its edge as domi-
nant impulse.
The copper producers will meet at
noon and issue the monthly statement
showing the surplus stock of metals.
y dccreasefis foreshadowed
The June crop report due tomorrow
afternoon will be the first real news
regarding conditions of spring wheat,
and as private advices indicate a sharp
falling off In conditions. II is expected
10 be unfavorable. The United States
Steel Corporation will issue its month
~ statement of untitled tonnage on
tuesday. Recent reports indicate a
heavy reduction in new business, and
on Thursday there will be a hearing
before the Circuit Court at st. Paul
on the propositions of the Union Pa
ciiic management on the Union South
ern Pacific dissolution.
Probably the strongest feature in the
situation lies in the almost universal
conservation that exists among both
fnanciers and investors. And this feel