The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-05-09
STOCK MARKET
is INDIFFERENT
Government Crop Report Is Bril-
liant, but Prices Do Not
Bulge.
BY BRoADAN WALL.

NeW ork May S-The government crop
did not bulge. Nature threatens to spIfi an9
otner cornucopta of plenty into the lap OF
/ Indifferent. ~
Tho statement Of the Copper Producers
OF 1S,5.s.los pounds. decrease for Inc
month OF 2s7ao.ies pounds largely due to "a a
without effect on prices 1t Is felt in the
e" ori% trade that producers anticipating
have made exports OF the metal far in en-
cess OF requirements and tho showing made
Is not therefore as favorable as indcat cd.
There has been no Increase of consumption
81 |, COPPER abroad. and producers have prob
ably made mistake OF judgment in anti
cipatins demand which up 10 this time has
not mnterialized.
Miners OF copper are feeling the increased
Cos' OF production The Anaconda report
Tor instances ,s shows that last year copper
cost 20 pound. compared with 90 the
Hear before. due to the increased cost OF
Morking the lower levels and the Increase
The, me S. . OF untitled tonnage of the
omi,eu states Steel Corporation is due Sat
oil $4,000 10 zoe 900 tons IL is believed tha1
at The present time deliveries are IS per
cent in excess OF new orders and premiums
Tor prompt shipment have disappeared. IL is
also felt on the street that the price OF
were il not for the large short interest that
Keeps the market firm in the face OF unfav-
The changes In days market were un-
important iii1 Trading for foreign account was
closed on Saturday ands Monday for the
Whitsuntide holidays, and arbitragers do not
The Union Southern Pacific controversy is
sun topic OF gossip. II is suggested that
OF the court and sell the Southern Pacific
TO a syndicate, and the Southern Pacific in
turn follow the suggestion of the Attorney
General and dispose OF Central Pacific. TIN
doubtedly Union Pacific is in a better posi-
this lmporian, line r he California Ru'i Raii'
road Commission Insists that the San Fran
cisco terminal or the bonita cut-off he
haf
Is n matter that may be adjusted later.
ing syndicate has been formed. This limo
the price OF southern Pacific is named at 30.
DIVIDENDS that have accrued on the stock.
There is apparently no eagerness TO join this
syndicate although the operation promises
1t Is conhdentialiy learned that Canadian
Pacific has purchased control Of the Erie.
declared that Union Pacific is buying control.
ama from tn.rd source assnrances were
active operator by the name of d; Reid TO
purchase this stock The total trade in Erie
to-day WAS 800 shares. The public is left to
draw is own conclusions.
The banking interest is directing attention
TO Washington with the hope that a currency
of Congress. 1t is felt that the active aglta-
, the basis for renewal of Speculation and q: a
restoration of public confidence
The Bank of France showed decrease in
rate Of the Bank OF England. which remains
There was slightly hrmer tone in the
local rates for time money, but no increase
In business done.
The bond market showed slightly hrmer
tone. and this is an encouraging feature.
| Chcsapeake dropped to 62h on liquidation
| Of Il few thousand shares. and New York
Central closed Mt the low figure OF 991a.
Rumcrs are again current that Union Pacific
Is disposing OF its New York Central hold
ings.
| The stock market is insufferably dull. The
stock brokers are so thoroughly detected
that the conclusion is forced upon many OBJ
servers that the market is in good position
to rally.