The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-07-16
BETTER, BUT
BUSINESS SMALL
Stocks Are Firrner as Result of
Sentimental Improvement
Abroad.
BY BRoADAN WALL.

New York. July I5.-Stocks closed firm to-
Jay Jay on q sentimental Improvement abroad
securities In London. Paris and Berlin. Inn
proyements I'm our market did not result.
however. in any material Increase In bust
ness. which was again on u small scale.
Much attention was paid To AN interesting
rumor that the Mexican situation rap
idly approaching the point where the United
states would be compelled TO cross the Dor
der. Private kilograms from Washington in
Gicatcd that II was considered probable that
the three northern States In Mexico would
ASK to be admitted To the United states. ~
those states Include the districts that have
been Developed American and European
ON tho American SHELTERS and Southern
Pacific rho tenor Of these runors
nation viii be closely scanned. The feeling
is growing tina, solution of the difficulty
cannot long be deferred.
The chief topic OF conversation among in
vestors continues to he the question OF the
value OF the Union Southern Pacific rights.
rights will quickly adjust themselves To IA
purely nominal difference equal to double
figured that the Union pacihc stakeholder.
when he gets his rights and suhScribes TO his
able TO exchange his Certificates OF inter
est FOR released stock through individuals
who do not own any Union Pacific ana will
have no difficulty Ia obtaining release Of
the shares from the trustees. \ study of the
plan suggests that there is nothing TO pre-
vent Union Pacific shareholders from owning
released Southern raci- stock.
II Is i"lt that in short time tho certin-
Gates OF interest and released stock Viii be
selling at practically the same price with
tho ultimate result that tn" Southern Pac-
hc shares now in the treasury Of Union
i'aciuc Will ia tho extent OF Ss3.5Iv shares.
rest I'm the possession of friendly interests,
and this II Is hoped Viii be accomplished
without undue disturbance to the general
market.
III. action OF the Banking and Currency
Committee In striking ont that section OF
the currency bill thut provided for the re-
l!"neni oi circulation. stimulated the stock
market at The close. hUt IL Is not thought
that the market for government bonds can
- 81
strength.
confidence has been impaired and cannot
lie restored By the backing and iiiling OF
Treasury officials.
The Third Avenue report was considered
highly iavorabls with its especially strong
showing from III. standpoint OF the bond
holder. Third Avenue stock advanced nearly
= points In the late trading. and Intcrboro-
Transit rose sympa iheticaliy.
American Can VAS the leader among tho
ow-priced industrials. closing at the high
point of the day. Steel. Shelters ana Anal
The preliminary income accoun; tho
southern Pacific for the fiscal Year ending
June 81 showed n surplus applicable to divi-
dcnd equal 10 ~ per cent on the stock com
chairman OF the Southern Pacific stated.
Al! OF Our properties are in splendid CON
ditiun.' This of course does not Include
The lines I'm Mexico. and tho condition OF this
part Of the property must be left TO the
imagination.
Amy fresh Development in the Mexican sit
uHtion vii! - Welcomed in the financial dis
trict rs an incentive to speculation and a
diversion from (" discussion Of the tarir. the
currency bill tho Chnutauqua circuit and
grape juice.
The uud-rtone Of the market IS strong and
the street feels bullish.