The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-09-23
FUNERAL GLOOM
OVER EXCHANGE
Market Does Not Show ANNA
ton Until Fully an Hour
After Opening.
PEOPLES GAS TAKES JUMP
Probable Melon Cutting Monop-
olizes Gossip Among the
Spectators.
PEOPLES GAS TAKES JUMP
II, HRoApAN WALL.

BY BROADAN WALL.
New York September 22.-When the
stock Exchange opened at noon to-
day the crowds that had come to wit
ness the funeral OF Mayor Gaynor still
throneed the streets. An atmosphere
of gloom hung over the financial dis
trict and extended to the. floor of the
before the market showed any degree
OF animation. nor had the effect quite
Disappeared al the close of the day
parity with Saturdays closing The
London market for American shares
was extremely quite and arbitraGc
noon wore ON Grmness developed i'll
Peoples Gas. and the rise was carried
has now risen some twenty-five points
in the last three months. and equaled
its "'0pnoteh record Of l3s c "a G, IN
dcnd continues.
Probable Melon Cutting.
speculative gossip. Reading touched
10 SIS; Union. $50 l2, and Interboro-
Metropolitan preferred rose to 6l rs,
all on stories OF extra bonuses soon to
be distributed TO stockholders.
Floor traders called the action OF
Reading good. They draw the conclu-
that n substantial advance is under
way. Union Pacific rallies easily. which
suggests that Il high range of prices
week is out
Intcrboro Metropolitan preferred div
ing scheduled for this week. 1t has
been intimated. however that no quo
rum Will appear, and the declaration Of
the per cent deferred until later
Rock Island Starts slump.
Just as trading began 10 broaden and when
prices were At their hest. first slump occur
red In the Rock Island Issues. Tho col
lateral per cent dropped points to 500:
while Rock Island preferred made new
low record FOR the movement by selling AT
.lis the common touching 1875.
Prices now down to the level that
ruled in the last panic. The present depres-
sion in values Will no doubt be explained
when tho overdue annual report becomes
public.
Little sympathy Is spent on the stockhold
ors ior the shares have never had any in
trinsc values. The depreciation in tho
bonds, however. is more serious matter.
aud touches the investing public who were
landed with these issues at much higher
Saturdays favorable bank statement was
fixed date funds vas no, materially changed.
somewhat easier Tendency In rates was
noticed.
Important Issues Pending.
No new corporation borrowings were an
nounced, although Il is understood that two
or three important issues are pending. prob
ably 10 be announced within the next ten
days
Speculative interest is centred in Union
Pacific and Reading These stocks. above
81! others, promise developments that viii
encourage public interest
The copper shares are neglected. while the
consumer OF the metal becomes accustomed
the l7-cent level Reports from The steel
Industry are not particularly encouraging.
nut Steel common appears 10 "e more IN
ciired IN anticipate Improvement rather
than 20 discount unfavorable rumors
I.ehiGh Valley. paying 10 per cent, With
possibilities, has OF Hate been recommended
20 investors 10y commission houses familiar
with the intrinsic value Of the property.
New York September GA few stocks
:nade gains to-day but in many cases
changes were only nominal. Speculation was
lAnguld. The market was closed until noon
on account Of the funeral OF Mayor ';aynor.
and during the afternoon little interest was
shown IN the dealings Among the stocks
which, broke away from the narrow move
Inent % 'he General !isi. People eas va,
the most consricuou> i rose more than
points To l-9's the highest price for nearly
Rumurs of AN extra. d,yldend for Reading
were revived toby i;G :he stock rose
strunglt. ccnpslug its RECENTLY established
high recuri Tor the yenr. Union Pacific
canadian Pacific New Haven, Consolidated
Gas and Third Avenue, also were strong
Rock Is!uud stocks ana bonds reached new
low pr.re~ Although American stocks In
iouCou r're h!m. London did virtually
nnthius there The strong character OF The
bank statement received more attention In
speculative circles than any other feature OF
hand- we're Irregular With eontinuanc.
oi rres-ur" against Rock Island issue. Rock
lslanc's collateral A. and refundng As drop
pea about points each.
Total sales, par value sl07j.ooo United
States bonds unchanged on call. Total sales
We're l12.21o shares.
New York September Money OIL cali
flru al ei:q3 per cent, ruling rate. g. closing
.i9G3. Time loans. easier; sixty days. ~
ninety days P.Gih. six months, 505l,.
Prime mercantile paper. t'.H6 per cent.
Sterling exchange steady q, tSS225 !or sixty
day billie and at ST $50 for demand CONNER
ciai bills, si.AlA Bar silver. 6->. Mexican
dollars 49,. Government bonds steady; rail-
road bonds irregular.