The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-05-24
DULL SESSION OF
STOCK EXCHANGE
transactions Fall to Very Small
Figure and Are Without
Significance.
ny BRoADAy WALL

| New York, May 2S-Bontreue was
Walking down Broad Street at the noon
nour, bontreue. you must know. Is the
specialist in Steel common
Where arc you going?" he was
asked. vas
There is nothing doing on the ex-
change and l am going for the walk
and then to lunch'
Ana this great broker deals in what
is the most active stock on the list
II we'll described the dullness that ruled
IN to-daSs market. Transactions fell
below 10000 shares. and were for the
most part without significance.
Union Pacific was firm, and closed
with gain. Southern Pacific was
strong. 1t is understood that the
Southern Pacific officials on the way
East are willing to comply with the
ieQuirements of the California com
MISSION and public announcement is
expected after the conference on Mon
day between all interests Steel and
-NmaiEamated were firm, and B. n r
closed at new top-92. Chino gained
point on dividend rumors and stories
that inc earnings are now running close
10 70 share. California Petroleum
made new low record. then recovered
sharply on the publication of the quar-
terry statement of March 81, which
gives net earnings after deducting ex-
penses. but not allowing for deprecia
ton, of about S per cent on the com
mon.
pennsylvania closed at the low figure
or lo9 3-4. There was extensive trad
ing in the rights" and the stock was
sold down by shareholders who do not
wish to exercise the privilege to sub
scribe TO new stock which expires at
the end of next week.
Humley issues lost two points and
st. Louis and San Francisco shares
were weak, the first preferred selling
at 81 IA, loss of "a The general
- fro -
the refunding As closed at the new low
figure OF CO 81. With the securities
ruilng at bankruptcy prices. il is. of
course. next to Impossible for the com
pany 10 secure fresh advances of capi-
tai large amount OF these securi-
ties were placed abroad. and banking
houses are delugcd with cables re-
questing an explanation of the unsat-
isfactory situation.
London again sold stocks. and foreign
securities, consols, rentes. and both
Japanese and Russian bonds all showed
shading in prices.
There was little financial news to
affect values. The fortnightly report
OF the American Railway Association
shows AN increase of 1895 cars in the
IDLE freight car surplus as Of May H.
some surprise was felt at the state
ment of the Norfolk and Western.
showing the flood damage to he about
3 S"puVup and the loss of revenue an
equal amount. II was not realized that
This company had suffered to any eX-
tent. The Hamilton and Dayton has
already asked the Ohio Public Service
/ commission for permission to sell
S'S'OO0 OF per cent bonds to repair
the damage in Ohio and Indiana
There Is another issue Of equipment
notes This time by the Missouri. Kan
sas and Texas. for sl,9oO.o0O at per
cent public offering will be made on
"-S per cent basis.
Wheat exports for the week were
again heavy, totaling $4,000 bushels,
win the exception of last week. the
largest Of any week since December
~ 1912 Imports of dry goods AT New
York this week fell to S2.229.362 an
amour, below the average for some
/ time past Some attention was given
TO the crop outlook There are stories
Of damage to wheat in Kansas and
Oklahoma. with sensational reports re-
sardlnE the oat crop.
There was an easier tone TO foreign
exchange. with rumors current Of
further shipments of gold to Paris next
week
The preliminary returns Of the cur
rencN movement reflect gain of
$4,000 600 for the week
notwithstanding the dullness in spec
ulation. there is an undcrcurrent of
optimism in the street. with the eX-
pressed hope of n favorable Minnesota
rate case on Monday and announcement
OF the Union Southern Pacific seGreEa-
ton solution next week