The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-08-09
M ADOO IS READY
W|THS15O,0OO,0OO
Says He Will Give Banks That
Amount, if Neces-
Sary.
MARKET is UMCANMY
Leaders in Market Break, but
General Stocks Do Not
Follow.
NJ ARKET is UNCANNY
BY BROAnAN WALL.

New York August S..Stocks cioxe, st,on1
nt,er vide irregularity In prices. Tho mar
crop report ana serious concern over tho
MeSican situation. stock brokers here suE-
ses,ea selling stocks in anticipation of n re-
turned Il profit.
me strength of the market is described
as uncanny. New Haven broke to new
low price. Reading shnres were gold In an
open manner suggesting liquidation. Atchi.
son was marked down sharply yet each
incident was ignored In the late tradInp
when prices rose sharply
me hiIi stocks were strong and st. Paul
encouraging to tho bulls. as 1t shows a
broader interest In the market
Copper displayed great strength upon pub
LEGATION OF the Copper Producers report
There was a slight display OF dIsappoint-
shown on hand as OF August L. The local
marke. was active and firm for the metal.
per market abroad Foreign houses ,"aL
some 10000 shares OF Amagamated and
FOR the greater part OF the day Steel
common common showed hesitation. but the price
only limited offerings at the close
Much interest WAS felt In tho crop report.
the traders contrasting. however. that ms a
market factor the report had hcon dis
Corn condition returned at 7s.s Der
"ent against $50 per cent on July /. Spring
7S.s. WV 'u'S' Win
Bonds Dull.
me genera oohd market has grown dull.
a large business was done in United States
BONDS, the largest in fact. since the decline
IN the per cents began. The majority of
inc business was handled in the outside
market the inquiry coming from South
western banks. who hope to participate in n
distribution OF public deposits but havc nov.
,sSS IMAM me required 40 per cent circulation
Most OF the trading around $751;, and
some larse transactions took place.
Secretary McAdoo Informed Tho haprars
In convention At Washington that The Trens
dtE was prepared 10 deposit 500. 100000 In adj
u q, ION 10 me ''o.eooooo originally suggested
II me situation seemed To warran, IT, and
THIS statement was made after bankers vim
rrepresemt The Middle West and the south.
from Florida to Texas. had expressed Tho
general opinion that there was no real
neeessity Tor the proposed deposits OF gov
course. will be glad TO &c, the funds he.
cause the possession OF them will relieve
az occasion For possible anxiety.
II Is argued that such an handed
po,icy regarding public funds Will undoubt-
cdly stimulate speculation in stocks Bank
ment OF mercantile credits are now heinr
laughed at for their conservatism. why
Freight Cars Idle.
The decrease OF 1888 unemployed freight
ears reporte! to-day WAS the larscs, shown
THIS year with II single exception
Easier tendencies were noted I'm thu ,I,o
money market. although little business was
recorded Call funds renewed a, 81 nor 80,
and continued In itbundan, supply ON Sth
treasury operations the bank lost 10 tn.
government some $3.50 600 for the week. This
was more than offset by gains from the in
terror ana forecasts of to-days bank state.
ment Indicated cash Increase OF s. 500 C,)o
Quay market gave demonstration or
underlying strength. Prices were nrin I'm
spite OF considerable realizing. and the ZEN
eThl attitude OF the brokers who sucrerted
WAITING Tor reaction. The Street il OK
pectihS some Important announcement re-
Eardins Union Pacific the beginning of
the week. " W
Lhe strength OF the copper marke, prob
a ABLY, ior .s,, higher prices for the
stocks. The Mexican situation is probably
me most prominent deterrent, to SPECULATION
at this time. '