The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-01-26
York
Stock Market

New York. January e5.--W'ith no APP
Parent reason for II change in the
course OF the stock market to-day the
zone hccamc distinctly stronger. II,
tue early part OF The day traoinS Was
active ana prices rose brlskly. until
many stocks were established on /,
Level "a point or more above ycstrr-
session was DUN rho market kindly
awaited word as to the acton OF the
81, Paul directors In regard TO the
niNidcnd rate which came just after
VIC Close. The Improvement in prices
was wen maintained. In the last few
minutes there WAS sudden outburSt
- asufiiy, chiefly III ST. Paul and
rupty.
Grading was heaviest in the leading
iailroad stocks, although there was {,
letter inquiry for some OF the indus
Trials. Union Pacific showed more
strength than Tor several days, aud
&c action Of that stock as well us
several other prominent issues, sug-
Scstcd tina, the short covering WAS
largely responsible for the upward
course Of prices.
The action OF 81. Paul, which rose
{" pom, early in ibe day. excrtcd a
strynsthcning influence upon the rail-
road list. Although the street was
Wcit satisfied that tho -. Paul dircc-
tors wGnih induce tho dividend ratio
iL"m I" per cent. there remained
an element o! uncertainty until " ord
"as received from the board room
'ha; the expected reduotion had been
ordered
Western lines have been comparative
- poor during recent weeks were
ppiIr out hy IN" December statement
OF .NtcnlSou, the first at tue large
western roads to report FOR last
iuonti., Gross earnings fell OH SIuV,
900, although a reduction in operating
expenses limited the decline in net 10
half that amount. The outlook FOR
u tx
Gals said that weather conditions in
'he irSt three weeks OF this month
were more unfavorablc than was gen
orally realized II.
Foreign exchange rates rose sharp
ly to-day. Demand sterling tuched
St.SI u: the highest point since May
OF 1910, when gold was being shipped
TO London in consequence OF the dis
turhance over the death of King Ed
ward. No cause was assigned for the
!ss other than the influences which
Arner!ean, Tobacco Common was taken
over to-day from the curb TO tho
stock Exchange. Opening NJ ESQ. un-
chansed from the last sale in the out
sj'.c market, il rose to 261l-o The
Fertilizers We're string, with buying
BASED unou Increased business. ana |
the decline in the price ut cotton seed /
There was no dmiuution OF The de-
lnahd Tor bonds. which has been tic /
lni2"r,ant feature Of the investment Z
situation rer"ntiN. Prices of bonds !
We firm. with higher quotations for |
most of the. popular issues. Total !
stat : - coupon declined -e, and /
tnc ;S ~ on call
fo'al sales. 2iu.soo shares. including |
gar 2o" Tobacco. 100; y. C. j.. |
100: =. y O.. 1900: y. Il w. sos:
:eaHls, i;,2o"; Southern Rallway. /
l,3""; I. r. $1,000. United states !
Steel, io,ioc V. G. G. iano |
New York .Iru,,nry ~ No,.,
"all steady "lSn IL per cent; ruiz |
NJ rate. " is, closing bid "1-S. oncr- I
"a ~ ~ rtmr loans steady; SIXTY |
nays 80 ~ p"r cent, and ninety /
GAYS, g3-i. - months, &l-su3l-; /
Prime mercantile paper. Gl.2 to per
cent sterling exchange firm, with ac- (
tGhl hnsines- In bankers bills "a.
Slhl:. Tor siNty-day bills. and at
$l.S7i5 for demand Commcreial hIIis
$''A" - hnr silver - ST. Mexican !
dollars. L.