The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-10-18
OPEN IRREGULAR
AND END BADLY
Stocks Suffer Slump and Carry
Prices Down to New
Low Levels.
BUYING ORDERS ARE THIN
Inactive Stocks Decline From
One to Two Points, and No De
mand for Investments.
BUYING ORDERS ARE THIN
10y RKONDNN WALL


to-day After an irregular opening slump
In The market carried prices to new levels.
largely professional
The best prices of the day were made
lent liquidation broke out in Rock Island
IS which carried the bonds down points.
This was followed by slump In shares.
Tho preferred sold at 17ia, new low record,
tho common ended mt 49,. For some time
tho action of these securities has foreshad-
owed q reimbursement OF the conpany's
i;duization. kumors were current that some
announcement might be expected within tho
Buying Orders Arc Thin.
srokers reports that buying orders are
have occurred. ~ matter of fact many
OF the leading stocks We're unchanged at
ncs Central. I.ehigh Valley Third Avenue
and Union Pacific ended without the gain
steel rallied fractionally on expectation
the leading railroads during the current
month
with slight Enin. The process of swapping
such stocks as Atchison and Baltimore and
ohio FOR Southern Pacific continues. The
latter offers speculative opportunities never
enjoyed 10y Atchison.
Intcr-NIct. Rises.
marlborough Metropolitan preferred
points With the 80 per cent back divi-
bends on this stock and tho promise OF
professional traders have gone long OF the
stock as hedge against their short posi-
rSer recaed ,h, Issues ms No' me
ticans have been paid for political intiu-
encc by market advances for these shares
around election time.
Numerous declines OF from to points
Were recorded Ia the inactive stocks. with
poor demand for Investment issues. Chca-
go. ST Paul. Minneapolis and omaha pre-
the Offering OF 700 shares. This is in n
prime per cent investment issue. with
II TO he classcd a cllt-cdHc security.
Foreign houses sold 1900 shares with the
bulk OF the dealings IN steel common and
Copper Is Distinctly Strong.
Copper was distinctly strong. The strike
al workmen in the mines influenced foreign
metal.
Discount rates were higher at Paris and
Vienna. The situation in Berlin was inn
proved 10y the favorable showing made by
tho Bank OF Germany with It's increase
Ia gold holdings OF So 100000 for tho week. "A
reduction In discounts al s46,7Oo.Oco. and
CONTRACTION In note circulation OF s6o0o,000
money market. The drain from tho banks
20 the Treasury continues However. the
show a gain in cash OF about 100000.
Intermittent liquidation niay he expected
TO continue. Few brokers willing to be
quoted as advising the purchase OF stocks,
and II the attendance in brokers offices is
any criterion or pubic interest In stocks,
bargain hunters have not as yet appeared.
New York. October l,.--SlOwly and labor
iousy tho stock market to-day made up
some of the ground lost the slump of
the last Two weeks. The rise was fairly
cnirpreh cusvc. and the tone considerably
improved As has been the case for some
time however II proved more difficult to
move the market upward than downward
ana in the last hour the list yielded part of
the days gains
New low records for nearly n dozen prom
inent stocks Were made shortly after the
opening on the closing out OF impaired mar
Gin accounts. Offerings of this nature were
absorbed easily, and prices quickly advanc-
ed. The rcccssious in the iinal trading were
Influenced by break in Rock Island on Il
renewal of selling. Rock Island preferred
and common and collateral IS fell points
each Ia new low prices for tho year
The Improvement t%-day represented no
change IN general ,.onttnions and apparent
ly rejected merely readtustmcnt In teChni-
cal positions There was evidence of AN
ovcrsoid condition. "a some stocks.
In the bond market there WAS some ir-
regularity hut The tendency downward
with noticeable heavinesS in several prom-
nent issues Total sales par value. 81, SO0.Oo1
United States IS registered advanced y, and
the > coupon IS and Panama - !. ON call.
Toia! stock sales 5000 shares.
New York, October IL Money on call cas-
Ter at 1885,: ruling rate. 80; closing. 81.
~. Time loans steady; sixty days -: "a:
ninety days. 5N%i4 six months 4@,T5. Prime
mercantile paper. 5i2I6 per cent. sterling
ana Si.SJi5 ior demand Commercial bills
HSo%. Bar silver. 6i}s, Mexican dollars A.
government bonds strong; railroad bonds