The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-02-26
REAL BARGAINS
IN STOCK MARKET
Opportunity for Small Investor
Now at Hand-Rally Is
Long Overdue.
by BROADAN WALL.
pecial to Tho Times Dispatch.

Especial to Tho Times Dispatch.1
New York, February 25.--Real bar
gains may now he obtained in Tho
StocS Market The opportunity for the
small investor presented about once in
seven years is now at hand. st. Paul
preferred at LOG 1-2. with It's long
record of dividends and wide margin
In earning over and above the require
ments Tor the preferred stock, was one
OF the attractive offerings Of yester-
days market. Atchison preferred at
iVV; General Electric, 1875: Great North
ern preferred. 1876. and Northwest ut
ioz-aitogether make 4 showing that
mas not been equaled for long time,
Intermittent liquidation continued
throughout to-days market Loans
win mixed collateral were thrown up
on inc market and sharp declines &C
CURED In standard issues, where some
sort OF market could be obtained.
while inactive shares like Sloss-Shcf-
held are practically unstable.
II Is remarkable that the decline pro
ceeds In such an orderly fashion, as
the losses which have been recorded are
exceedingly heavy The Inference is
drawn That stocks have been widely
scattered and therefore do not come
upon the market in large blocks.
me equipment stocks took their turn
In making new low records. and the
steel issues and the tobacco shares
were all weak Very heavy selling of
steel common carried the price to So -
ana further liquidation is looked for
IN thls stock. American Can touched
81 10 Mexican Petroleum, Runely and
Wooiworth were weak and sadly
missed the old ia shioncd wash salcs''
mat sometimes gnve the impression
OF strength TO stocks. Stock Exchange
officials have issued IL sharp warning
against manipulation, and those stocks
.hitl were married up some months ago
by methods that are now out of fa shion
practically lack support. The houses
that hoatcd these shares are apparent
~ unwilling TO take them back from
the public even at the present dis
count
II the market Is TO seek a natural
level, some of these shares still have "A
stronS distance to go. The public
would do well to avoid common stocks.
especially of Il newer Industrial.
Union Pacific acts badly and had tho
appearance of preparing for another
break. This stock was particularlv
weak in the London market, ruling at
one time / per cent below our low
price here.
When Eric common was selling at AZ
thcrc was - wonderful story ;,iloat
about Canadian interests purchasing,
cohtrol In this market and many :,
small operator bought stock on n mar
ein' with the hope Of unloading it upon
me canuck AT good advance. \ lot
of this stock is now coming back into
the market. and as there IN no r. II
Hartman or j. l.. Morgan to shelter
TINS forsakcn trunk line, the outlook
is indeed discouraging The STEADY
selling in Reading continues at de
ci'hllis prices. In fact. all the Goa,
sharcs were weak. Jersey Central and
l-ack;twanna each lost i've points on
transactions of single hundreds
Inc real bright spot in the day was
the strength displayed by Southern Pa
clhc most interesting condition OK
Dial
shares of stock were sold against
rights which were purchased in the
market, and fully another 100000 were
disposed of against allotmcnts that
bankers anticipated, II the plan
should be so modified that the ratio
Tor distribution be changed or sun
pose that the Andrews syndicate sue
ceeds III taking over the stock en- bloc
IN either case there will be some trou-
BILE In covering short contracts. The
stock was distinctly firm and prom
iscs TO go better in price. The state
Railroad Commission of California
does not seem disposed to favor Attor-
ncy-General WickerslIam's plan. and
the Western Pacific is making a night
of it's own To obtain the privilege Of
using Central Pacific.
Further than this, reports from
abroad indicate that holders of south
ern Paciiic propose TO ask for better
terms from the Circuit Court than have
pSe" ElaHteu thei1. IN any event
Southern Pacific interests are being
well looked after, and the stock an
pears cheap at 100.
The contango on American stocks In
London at per cent shows that there
liz no relaxation OF money rates in that
centre. Private cables from London
indicate that there is greater uneas-
mess abroad thar would appear from
the general news. No effort has been
made to buy our shares. even at the
new low prices recorded in the past
two days
y rally is due in the stock market;
in fact. IL is long overdue. 1t may
come unexpectedly. or a further sharp
dip may first be scored. There is little
hope. however. for any permanent i'm
provemcnt in market conditions just
vet