The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-07-29
LIVELY BUYING
IS ENCOURAGING
Public Taking New Interest in
Market, and Prices Are
Going Up.
By BKOAnAN WALL.

New York July 2S.-rhe awakened public
interest in stocks brought AN encouraging
amount OF outside buying at tho opening
to-day. One OF the largest of the commits
sion houses did the best business for twelve
months past and this was by no means an
exceptional case. The extreme advances re-
corded In the forenoon were not maintained
In ali cases, and the professional operators
worked FOR u reaction. The market. how
ever. did not get beyond the stage OF hest
tution. ami Was at no time weak
The change in the public temper IS known
in the placing OF supporters By those who.
having TAILED 20 take advantage OF the low
prices that prevailed recently, have lett
these orders 80 that on a further rise they
viii get stocks.
This should not be confused with tho stop
loss orders that are used by the bears when
operating for decline. In Steel common
FOR instance. 1t is reported that 5000
shares are stopped at ~, and some OF the
room traders worked hard to-day To prevent
the stock touching this figure on the theory
that it will be possible to make the shorts
cover AT higher figure tomorrow.
London bought stocks moderately. taking
steel. Copper and Il little Union. The fort
nightly settlement now under way is pro-
crossing smoothly, and further buying VIII
probably develop with the opening of tho
new account on Wednesday.
The copper market shows steady improve
ment The nrmneSs in the metal continues
to encourage purchases by consumers and
copper stocks responded sharply AmaIga-
mated led in strength ana activity. with
C'ah copper a close second, and Tennessee
Copper active at fractional advance The
OIL stocks displayed unexpected strength
Mexican rising ~ and California Petroleum
!. Chesapeake and Ohio on ii burst OF ,,.-
tVity rallied points In spite OF the mar
row margin between earnings and dividend
requirements.
While there was great diversity I'm the
traIlng' Union Pacific. Heading ANA Steel
held tho lead in point of activity and firm
ness. The strength IN these stocks IL very
encouraging To those who believe in higher
prices me Erie stocks were strong in anti
cipation Of favorable report for the usc4l
IL sr.sI
VIII SHOW an Increase Of 10000 900 over the
previous twelve months. The iIiil stocks
We're quietly firm. and Kansas city southern
an the advance. Notwithstanding aenials
II j. the opinion OF many that the control .,f
TINS property Will shortly be found to rest
IN hands friendly I" the 81. Paul system
United states government - sol! M ..:ix
ana We're later quoted al a5 bid Panama S.
sold at par The market WAS not ifnuroved
by the report from Washington that Tho
government was not concerned in the marker
conditions may arise that would sugges, :.
ne" government loan. and under these. cir
cunStances II Is probable that preyauirr
prices would not prove attractive 10 invcs-
tors.
The movement Of grain to market has al
Factcd attention by the magnitude of mo
operations. Last week deliveries az Drttuar,
interior receiving points reached the large
,"."t Oh -V'"uo'u'p bushels tar exceeding any
previously recorded weekly total FOR mis-
period Of the year. This movement iudicntes
th"t INC west counts on abundant nov
crop lhat exporters are the buyers denotes
nrm foreign demand and this huyinr ,,.,,I
a'd materially In financing Of the new cron
St"cks continue 10 advance in spito Of an
position cf professional traders and vithon,
. ne open ehcouTaEement Of the banking in
49,: - CnUsI such conditions purchases
usual IMAM