The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-09-18
READING CAPERS
ABOUT IN MARKET
Enthusiasm Collidcs With Dis
appointment, and Late Deal
ings Smash Profits.
LONDON CARRIES MARKET UP
Smash Comes Before Close. and
Leaders Fail TO Show Any
Big Advances.

New York, September 1I.-EnthuS-
.asm collided with disappointment in
tc-day's stock market and many pro-
h:s We're smashed in the late dealings.
\ spectacular advance that carried
Reading TO n price equal to 40 SIS in
London was the signal for heavy trad
ing when our market opened. over
$4,000 shares changed hands in the
first few minutes. the price touching
40 is. Such concentration of spccC-
latiVe interest was considered bad
omen. and before tho day ended, tho
traders wcro justified in their opinion
that it would unsettle the general list
Somehow the report prcad that fav-
orable news would develop Ut to-day's
meeting OK the Reading directors.
When tho regular dividend was an
nounced there was n rush to realize,
and the stock closed with n three
point loss from the high figure recorded
al the opening.
Many UnsettlinE Features.
There were a number OF features
that unsettled the market. New Haven
was especially weak, dropping to 81 3-S.
decline OF two points and new low
record.
Rock Island bonds turned soft. The
collateral per cent declining from
80 SIS to 80 10 and the shares made
sorry figure, the common dropping TO
u IL and the preferred to - ID.
Rumors werc current of inside selling
on fears of a reorganization. 1t may
be necessary TO change the company's
New Jersey charter, and in View of tho
damage TO tho crops in the Southwest
this is hardly n favorable time FOR the
reconstruction OF highly ovcrcapi-
taliZed railroad.
Intcr-Mct. Meeting Postponed.
The postponement OF the scheduled
1nterboro- Metropolitan meeting. owing
to tile absence OF quorum, brought
professional realizing in Interboro pre-
fcrrcd.
Union Pacific and AmalGamated were
both rcactionnry abroad. and foreign
houses sold the stocks here during the
day. II Will be we'll to recall, how
ever, that Union Pacific assets are still
intact, and a promise has been made
that the matter of considering an extra
cash distribution Will be determined
shortly, and as far as Copper is con-
cerned, the market for metal is strong
1T - cents. and delivery for the cur
,ent month hard 10 obtain. \ still
higher price is predicted in the trade
Commodity markets were strong,
both in cereals and cotton. thus adding
10 the budget of unfavorabls ini!u
eEces.
Government Fours Weaker.
Government per SCENTS We're weaker,
selling o.. the exchange al 10. dupli
eating tho low price established III
July. WHEN I'll government securities
v-.f= u < decline
BINDS generally Were strong and
relatively zet.ve Lizzie change was
,o..d in ina condition Of the money
,i ....-s
mare. s--t---st- g.. '"e'S s!'""eu .
sl--ev'aat arne7 tendency ana renew
"a Z, . per cent
- Lc.doa oorsols advanced. and
'H%:+ "eS COCO inquiry 70: invest
--sct= Berlin VS. s;rong, but a. Paris
-
Wa.
fofc'Sh i>Nc"an- Neah'
fr'1c's e.: s9i7 iriorts were not
,g..5-,lss. 80 ,5s,.l.. .,,-f.i- f-dirstfo,s
10, - re,--, ..+,a,.tr -.
N@t Ire --4J'r i--..' $50 b"s4H mex
%e-E
yts-e-Ga,s reaction ur6outtedIv
- .t. 80 ..t -,
l'S-'.o''' -
fi-@-lIs cCt = some "czk accounts
t-at wer= caugE, -. s-op-ioss orders
" ~. ne r.-av..l az 1-,.-.-io,e IN
sl-t 81! SUM O. '!i- PiV4vS
t-aual traders
~