The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-08-05
WEIGHT PLACED
ON WEATHER MAP
Condition of Corn Crop Is
Widely Discussed as Market
Factor.

New lorK. August i.-Stocks dull
In the first hour to-day. the London market
being closed for the usual August holiday
and as little conmssion ioT bspes
over Sunday dealings fell OFF and only 90 900
sG puIins snansed hands up to IL o'clock
Iessional tradcr was inclined to test prices
for further decline.
In the absence of important news much
Snd ,h was placed upon the weather map
Chicago proved TO be n flash In tho pan
later news news indicating moisture to put tho
Sensational reports. Of damage being un-
usual at this time OF tho year, conservative
estimates placed the reduction In the condi-
tion OF corn at n loss OF 10 points. and UNI
certainty on this point will last until the
government report is Issued Friday.
Dealings on the floor were almost Wholly
prof;s,s,sional. and the public is apparently
OF the corn crop detrimental to values
~ IN me afternoon the announcement from
Washington that President Wilson would
shortly announce his policy on the Mexi-
can situation was construed as a favorable
The, The statement that Secretary McAdoo was
deeply gratihed with the reception of his
western banks led to the rumor that this
sum probably will be extended to 500. 900 900.
Where this money is to come from Is not at
this writing apparent. ms tho free Treasury
balance Is hardly more than Sos coo 600 with
banks '''''' "'e"'' Oh deposit with tho
Perhaps the best new, of the day was
Balkan situation. This should Indicate n
continuation OF tho buying for foreign ac-
count that was noticed last week In fact
several OF the arbitrage houses bought
stocks shortly before the close in antIcipa-
tion OF higher market to-day
subscribers TO the New Haven bonds had
received their allotmcnts. II Is announced
that tho bonds were moro than lto per cent
oversubscribed and one-third OF tho issue
went TO New England investors.
The Improvement In the general bond
market liz most encouraging, and brokers
report Increasing difficulty in rlinE orders
at offered prices.
AS indicated in this column tho Copper
stocks took the lead In point of strength
AinhiSamated and Utah closing at the best
prices OF tho day and showing material
gain. steel common was both active and
strong. md In particularly good demand hy
the odd lot houses. Tho bethlehem Steel
issues showed sharp gains on light transac-
lions.
;, Union Pacific rose a point and Southern
Pacihc gained iractioually the announce
ment that Union Pacific would rot sell ex.
rights on Thursday when the comnany,s
hooks closed Tor the purpose OF recording
the st"c kholdcrs who are entitled to sub
scribe Tor the Southern Pacific stock that
No reasonable explanation has We, bccn
offered why tho subscription price 20 tho
southern Pacific shares should be vithhcIt
from tho public subject to the convenience
OF tho bankers
No change occurred In tho money market
favorable bank statement OF, Saturday pass
ed without comment.
There is no reason to change tho opinion
recently expressed that the undertone OF
the market IS exceptionally strong The
industrial shares promised to Lead I'm ,ha
stocks close favorites FOR first Mace In fo;,S,
OF public interest