The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-01-16
SHORT INTERESTS
MAY FACE TROUBLE
Likely to Have Difficulty in
Covering Their Contracts
This Week.
SHARP RALLY IN MARKET
Strength Of Gas Stocks Proves
Feature Of Mornings
Trading.
T,mcs.Dispatch.1

Especial to The Times Dispatch.l
New York January lo.--stochs !
rallied sharply in the last rev min
ntcs OF trading to-day, the advance
averaging about two points IN the
active issues This was due to tho
exhaustion of selling power and to
strong support from insiders The
fhct that the bank statement showed
cash gain in actual figures OF VIZ
415,S00: a reduction In lonns OF $i2,-
p3o.500; gain in deposits of $35,a33,-
500, and an increase Of surplus re-
serves of s13,33s, 900. led to belief
that the short Interest would have
some trouble covering next week.
Penns ylvania WIS the strong feature
throughout the entire day. 1t yielded
but little. and led the advance to the
close. Opening figures were much
tower following decline III London
on the Aneriuan department, Londons
home stocks were strong in spite OF
siO.000O00 loan for Ireland, but the
British brokers threw Americans over
board In way that raised the sus-
picion that the selling came from New
York.
Feeble Rally.
feeble rally was seen In the first
the market On this second decline
the general list reached level not
touched for nearly year. All the
gains seen during tho Taft adniris-
tration were wiped out.
Strength OF the local Gas stocks
was feature Of the morning Bank /.
ers Immediately began TO argue mat
companies not affected by the Federal
Incorporation law would be the safest
Investments. Brooklyn Union Gas did
not break throughout the session. and
Consolidated Gas recovered qu!ckiy
Ats early loss and showed strength
in the late trading. Steel was taken
in great blocns on the advance by
bankers identified with the trust
Copper stocks made up freely. and
even on the curb. where the low-priced
coppers had been weak, there was a
material Improvement
Southern Pacific. Union Pacific and
the Hill stocks were all prominent In
the last hour. The closing was strong
and at the best figures OF the day. A
short interest of huge proportions 4!
outstanding.
Tho bear traders are attempting t.
work on the fears of the general pub
lie by misrepresenting the Sherman
antitrust law They are saying tina
the new legislation proposed by Presi
dent Taft VIII still leave corporation
subject to prosecution by States at
torneys. AS a matter OF fact, tn
Sherman antitrust Law explicitly de
clares that no official either State o
national, can institute proceedings IN
der the law except the 4attorney-Gen
eral of the United States or Unite
States district attorneys under hi
specific direction.
In the street.
Number OF shares sold to-day, s5e
400: par value of bonds sold to-da,
se,Iss. 900: year ago. s2.79s.0Oo; nun
Der OF shares q year ago. 55i,sso.
The American Railway Associatio
reports less demand for cars. This
due to the heavy snowstorms. Their
Is a general slackening of business Q
tidewater coal roads
Sears. Roebuck & Co. increased II
dividend on the common stock to-da
from 6 TO a per cent. basis. IN
directors announce that this years nj
earnings should be 20 per cent Q
the common stock, OF which there
S30oo0.000 outstanding.
The Pearson syndicate bought muc
Of its Rock Island stock through c.
madam brokers'. This is the expiani
ton OF the report current three weei
ago that Canadian Pacific was buy!n
Rock Island.
Curb Market.
Copper shares were heavy on u
curb market during most of the tra'
ing to-day. but in the last hour ths
recovered, along with the inside ma
iet Most active of these shares we
chino consolidated Arizona, ella, NJ
ami. Nevada Consolidated and RI
CONSOLIDATED. Ray Central inspiratit
and Greene Cananea were active.
the silver group Kerr Lake and !
Rose were both strong. La Rose
being held down BY insiders, VIII
thew accumulate in preparation Tor
restoration OF the dividend.
New York, January 15.--Money
c.i, nominal Time loans easier: SIN
days. Az per cent, and ninety DAY
AZ dD4M; six months IA o. CLOS san
Prime mercantile paper, 's 81 P
cent. Sterling exchange STEADY, WI
actual business In bankers pills
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