The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-12-30
TONE CALLED GOOD
BY STOCKHOLDERS
Underlying Firmness Suggests
That Next Movement Will
Be Upward.
BUT LITTLE SPECULATION
Traders Are Waiting to See
What First of Year
Will Bring.
BUT LITTLE SPECULATION
BY BRoADAN WALL.

sidcred. to-days stock market maintained n
fairly steady tone, IN spite OF heavy selling
almost total absence OF outside interest
Orders to sell stock for foreign account
were unexpectedly heavy at the opening
Amsterdam and Berlin disposed OF Canadian
Pacific and Steel common on direct orders
and London sold these issues. rs we'll as
Amalgamated Copper. through the usual ar
bitrase channels. In all some 5000 shares
were sold. Az the selling slackcnvd, point
advance in Amalrnmatcd Copper gave tenn
porary strength TO the list. but this only
induced fresh liquidation in Canadian Pa
cihc that carried the price 10 the new low
level of 90.. 1t was noticed that Ms coon as
Withdrawn. and there succeeded periods OF
extreme dullncss that worked back into u
New Haven, which had risen to ISL on
covering, dropped back to 75. although the
crowd at a premium, showing that con-
siderable bear interest sim remains to be
stock appearing on any, sign of hrmncss
The bulk of the days business was done
Reading led in point of activity, moving
with the varying currents of the day: Floor
in the general market. Other coal stoeks
Valley fell to las
y further Improvement in tha market for
copper metal was reflected in better mar
ket for the copper shares. OF these issues,
Utah was the strongest, crossing 81
Texas Company stock rose Ave points in
sympathy with recent strength in Standard
PaCinc Telephone ana Telegraph preferred
recovered six points, to s.; Tobacco stocks
showed irresuari;y; American Tobacco de
cltned hre points ana Lorillard preferred
advanced two.
Bonds were active and in many cases
strong. New York Railway adjustment ~.
on heavy trading. rose from ass. to 90.
Wabash refunding AZ advanced from 4S3. TO
81. New York City bonds displayed good
tone. Investment issues generally Indicate
AN Improvement.
one Colorado Midland first mortgage As
sold ut L. whereas the last previous trans
action iii this bond occurred at p.
Trading in the New York state ~ per cent
bonds when issued" around 1851. indicates
that the s5Lo9oOc0 to be offered January
VII be largely oversubsGrlbed i is believed
loi for the entire issue.
Caii money rose to per cent for a mo,
ment out renewals were made at $40, and
money was offered nj this figure when tho
market closed Out-of-town institutions are
freely sd: Offering 1t,r time funds;
Southern railway loaf siel. ooc gross and
100000 net, preliminary siatements indi-
cate further loss in December earnings.
The arke of f aFk
which suggests that the next movement OF
There is little disr.sitlom to encourage spec.
ulation until the turn of the year the
beginning OF next week.
New York. December IA reactionary
tendency developed in the stock market to-
10 the short side. and at times the popular
stocks We're under heavy fire from the bears.
and trading dragged much of the time Only
few prominent shares were forced down
as much rs point.
The downward tendency was Influenced by
realizing sales in stocks which have made
large gains recently, and by the especial
weakness of individual stocks. Canadian Pa
'ihc dropped 10 20+, the lowest price In two
years. New Haven Wan offered freely and
at one time solo 81. below It's best figure
ri the day.
European selling was factor. about II. 900
shares having been Invested of foreign ac-
count. Canpiian Pacfc's weakness WAS due
largely to pressure from abroad.
Sales Of copper metal IL cents were
reported here, and the metal markets abroad
improved. The copper shares felt the .ti,nu-
latlng effect OF this change for a time but
ultimately Joined in the general movement
The uncertain outlook for money during
Tie closing Diff OF tbe year played "A part
ia restricting speculation. Cali loans were
renewed at 3i2 per cent hut later the rate
g.
Bonds were irregular. Wabash As jumped
3l2. ana some high grade bonds were frac-
tionally better. United States IS, registered
g registered and Panama ~ registered adj
Nanced =, ana Panama - registered !. on
and Panama Is. coupon. ~
New York December 2s.--Call money easier;
siHty and ninety days Ak; six months 4LsS6
so. Mercantile paper, 5E.q6 sterling en-
change steady; sixty days. SSl25; demnnd
- s52a. Commercial hills Si.s9i.. Bar silver
'iSs. Mexican dollars, lax. Government
bends Irregular. Railroad bopls irre.,,iu,