The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-10-01
SELLING BRINGS
SHARP DECLINES
Steel Common and Union Pacific
Are the Principal Objects
of Attack.
BOSTON INTERESTS SELLERS
Reading Comes Under Suspicion,
and Melon Stories Are Dis
counted Adversely.
BOSTON INTERESTS SELLERS
~ nROADAN WALL.

New YORK September 3o.-Heuvy selling.
directed against steel common ana : mon ,n
all thc leading issues. Steel common. that
had shown fairly steady tone around 60
Tor the greater part OF the day, broke to
$50 and closed below 81. Brokers supposed
to represent Boston interests were the
LARGEST sellers Rumors were current regard
inr the falling of In general business, and
reports from the steel trade were generally
Q. "a pessimlstic tone
Much disappoiniinent was expressed that
Union Pacific directors have been unable TO
come 70 any agreement regarding the extra
bonus that val! street anticipated The
absence Of dominant influence in the COM
rany's affairs is unsettlus confidence in the
entire management. The Street feels that
some definite statement might at least he
forthcoming from those who arc clothed
with outward authority. The last straw to
break the hack OF speculative interest was
the rumor that the directors would continue
tie present rate OF dividend without making
Reading Under Suspicion.
Reading lost point and has come under
discounted adversely between and , O'Clock
Readings earnings for August showed
net decrease of over 100000 for all the COM
psnies. 1t may be recalled that August
1872 was abnormal. with an accumulation
OF tonnage. due TO the strikes jus; settled
and unusual high prices for all grades OF
Amasama,cd Copper was alternately
strong and weak. While trading was light
there appeared TO be good demand for the
stock until the general list broke. when the
shares lost point
however. was but fractional. The news
copper metal was mixed. Sales for mmedi-
deliveries are reported to be offered at con-
cessions OF half cent T. pound from ruling
prices.
The stock market Is undoubtedly highly
professional. the concentration of the sell
Ing movement denotiug attack prices
rather than q liquidation OF investment hold
ings. There was the usual contradiction in
prices Of a traders market. Both Lehigh
an eel "a rcd y ia
Republic Steel issues lost from TO points
United States Expvess made further gain:
Nigh Valley all showed declines Rurnely
preferred los; points on SINAI! sales OF
tas TRACTION stocks !ntereofoush Metro
po!!:sn pIA:"rred held firm t. spite OF gen
e.al ~eaKness
:vss s s:alsF DE- Esihs s. .:os won
Quisi and -raasact!ous IL the international
Ruiirosd Earnings shrink
F-G.i-oac .a-rturr Tor august showed
ttf7nhase u - cgt1dias Fssiac iost ;-;e
TL-!- iegl1Etlo: = aeattur completion
Ti.rou, t-y q; TIE ett:-ipeiec mercantile
l-aF. BE-. arrange - tae money IuG:let
80. .i "a. ttti.s+S. 49,, y rat-F
- express disgust Baking interests are
Ntrylrr -nceh ioF sup-enacy IL n. i.ad-
c+E.-trcet - ~ :n.+tirgt - - Girsstors
.: ne co-a2Eaiet ~ which ;.ey aye inter
est.d. unui sora. -o't u yesae a. I,aes.6
Upon Et.c-.etlv. activity v.!i oe restricted
lsy.s arc the d-rra-.3 :9r Issues -, ytror.r
Prom -" .tFesiD:s steccpo!ct ths outicok
IS = o-iaElag
sew YorE S.pts:..t-- 3t-seu.irn.n, vas
more po.enl a.al 10; T. ,i.e stoct 1'a-k..
to-day IEsfe 10 chs.pe j.. .ae sry-cu
lsiys s!tteueA 20 ~ = ;eeis Welt Sent
iheat "ts 1eei-ec!y Asarisa arc s;ocEs wen,
down aOfuyttt