The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-10-09
FURTHER WEAKNESS
IN STOCK MARKET
rxfoN rAcrric SHARES iNFLu-
ExCE 1T ny GENERAL
DECLINE
LOSES FOUR POINTS
COLLAPSE STIMULATES GENERAL
1IaUTDATroS--LossE OF FROM
ONE TO TWO POINTS
ELSEWHERE
LOSES FOUR POINTS

NEW YORK. Oct s-J'n!on IA
eiffc shares were influence for further
weakness in the whole stock mark ct
TO-DAY. Substantial general declines
which carried the average Of prices
down TO point about halt way be
tween the June low level and the
September maximum Of recovery,
were scored on what looked like or
derry. but real liquidation rather than
continuation of hearfsh pressure
Traders, indeed, were inclined to
stand from under or retire short com
Mtfments, but there was not much
professional disposition TO make pur-
chases for every moderate rally.
Wall Streets detection was notice
ably augmented and sentiment after
the close was so hacking in anything
of courage as To suggest that gossiA ls
the decline was being overdone.
Few Favorable Developments,
The general reasons which have
helped 10 explain the fall Of the mar.
ket in the last few weeks were none
OF them qualified by any develop
Tnents, although there was special
news Of Il favorable character 1T
was, however. the collapse in Union
Pacific which stimulated liquidation
for this stock en- steady offering lost
four points during the day. closing
at the bottom. Elsewhere losses Of
one to two points were common and
the increase Of weakness was accom-
panied by a corresponding increase of
business.
The state IF the market was such
that the second worlds championship
baseball game proved no distraction
Of attention as was the case on Tues
day. All the circumstances Of the
raceveries and the present fan of
Union Pacific are not exactly. pleasant
TO consider. 1t LIS certain that "a month
ago Wall street thought It had been
permitted To infer that there WAS ev-
cry likelihood of early distribution on
the shares. Officially such differences
were not explicitly eountenanced. but
Il is nevertheless a fact that the stock
market community felt sure that the
directors were engaged not Tn cansid-
ering whether distribution should
be made. but how 1t should he made,
and how much ii should be and when
ii should he made, 1t may turn out
that nothing more than a postpone
ment Of an extra dividend is involved
and ii was common rumor today that
statement couched in terms OF
postpouement might soon be issued
from official sources.
Foreign Dealings.
Foreign dealings in stocks here
EEEfTG1 r. Te as inUcT7 on The buying
aa on the selling side. bat there was
some weakness in the security mar
kets abroad. Foreign exchange ruled
easy here around S4-50 IL for demand
Sterling and the local money market
remained in It's somewhat harder con
dltiun which il reached last week.
Government per cent bonds solo
over the counter at ~ "a. a new low
record price
The Copper Producers report as
Of October showed a decrease "a
more than $500. 0o0 pounds in do
nles;ic stocks of The metal last month
to total az less Than 3o,ooo,0 of
pounds Of visible supplies the small
est since the Producers figures begaf
ii he compiled
1T was currently reported that e
most satisfactory subscription was
being received fer the offering o.
$40. Coo, 600 OF the Interborough Raple
Transit per cent bonds, but this
also seemed 90 be little regarded
although II was a sign OF persistent
investment strength which had hardly
been expected