The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-12-13
GENERAL DECLINE
IN LEADING ISSUES
Early Bear Attack Followed by
Liquidation. and Market
Closes Weak.
WILSON'S HEALTH HAS EFFECT
Any Change in Administration
Program Would Be Con
sidcrcd Calamity.
Will SONS HEALTH HAS EFFECT
BY BRoADAN WALL.

By BRoADAN WALL.
New York, December i2.-Stocks closed
weak TO-DAY An early hear attack was FOL
lowed by liquidation stop-oss orders We're
uncovered and general decline Carried lead
ne Issues a@Wn p pqIs,do wusor ,o
had a decidedly disquicting effect in nnan-
c.al circles. Whatever disaGrcemcnts there
may hc In the mind OF bankers regarding ths
Presidents policy. few doubt his sincerity.
mud any abandonment OF plans or change OF
stoned by the serious illness of tho chief
calamity by Wall street
Traders forced down tho price OF steel.
sss M oys wls IRE free 'ssr "noye 90 STOP
focus of interest was New Haven. Investors
would entirely stop dividends. arc now bring
Ing their shares 10 market. but waiting
liquidation Will no doubt continue for some
time and carry the price to new low levels.
mind of the Investor works slowly. As an In
stance a man with 1000 shares OF New
order at the curren; price Of GO As the quo
iations dropped he reduced his limit. finally
he taken the advice OF brokers he would
have sold the entire block at the best bid.
and no doubt secured much higher average
Canadian Pacific. fell ? points further. Con-
siderable disappointment IS felt the
recent Issue Of certificates It IS figured that
he railroad company has transferred direc,
payments pas, sales OF real estate. This
may, perhaps prove a dubious asset II a
Makes Mrctchcd Statement.
New York Central made Il wretched state
mcnt In is report for October 70 tho Inter
state Commerce Commission. With gross
nSr o. oPsraon nninSsns'? ; o
the four months ending with October gross
IN ,Ss7 800 In Nov Of thcs" ,,r,Tns ~.
street Wonders Why tho per cent dividend
action Is gravely questioned. and tho price
%; The shares reflects this sentiment The
Reading. Union Pacldc and copper. recent
y notable Tor strength, succuinhcd TO the
: points Stop-iose orders we're noted In
Union Pacific. and the buying In AmoIga-
mated Copper became poorer as the price
Corn Products sold So. This corpora
ton Is accused OF being Il monopoly In re-
>trs'nt o; trade. although output is only -
r,r cent Of capacity this time. II is expect
Quarterly dividends on the preferred at this
end of tho year
Haven, reflected the weakness in the later
Sloch by cropping 10 lO6I.
Tho, recent declaration of the regular divi-
lend on me old stock has not improved
hiyidends arc not being earned; and 1t is
considered extremely doubtful II The pre-
SIS months shares of tie ROCK Island
company We're sympnthetically weak.
American Tcicsruph and Telephone. am
other Down East favorite touched iI6. Gov
cTnmcnt9i control, or AZ least a keen super
sive profits that this corporation has enjoyed
IN the past 1t Is recalled that English
shares TO the BRITISH government at mo
government valuation, which was not their
Traders VINO were enthusiastic bulls before
the unpleasant Ncw Haven incident quiet
!, slipped OUT q their stocks to-day. The
immediate outlook for any recovery in prices
Is not considered encouraging
%ow York December IA steady down
ward movement of stocks to-dny brought
general and substantial losses Trading was
pniet With nothing 70 correspond Win the
Htoicut slump OF Sew Haven yesterday. but
TN" decline WAS considerably larger. 'fhe
market showed no recup"rntivc power, clos
iu some respects to-day's market was more
",s,utn'nE !. nu.is NAN EeS'frdays tn.et-
i a III s' if S He i:cn Tt1W Of mG
there was no similar source OF weakness to-
day Sew oil the whole was favorable. hit
stocks Werc put out it, Slow. lnethodicaI
way Various nigh grade Investment stocks
NoW Have, reached another low record at
'@',. American Ieiephone. Sow York Cen
uai and Pennsylvania were again heavy.
nom the copper and steel trades was more
'he"r'ul Low prices oi copper metal were
what better inquiry Tor some steel products
Cal money worked easier. ana a gain of
Sct1oNi ash ioi The hauks on the week was
predicted. High .atcs here have attracted
Prices on bonds cased or with weakness.
ln Americsi Telephone ana Rock Island is-
sues rnitei states bonds We're unchaueed
asier ~ @-qh- ruling rate ~ closing
l"ncN d.ys ~. siN months. b. Prime mer-
cf az ;i,i TOR slNty aa,s ana a, Si%s0 for
ten..ud. C"nmercia bills 81 Ni-. Bar sil-
rr ~ Mexican dollars iif.. Government