The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-10-25
VANDERBILT PLAN
IS WELL RECEIVED
Ills Proposal for Big Central
Bank Brings Forth Favor
able Comment.
CHEERFUL TONE IN MARKET
International Trades for Month
OF September Make Excel
lent Showing.
ny nRnNpAN WALL.

New NorE october 2i.-Stocks closed
Strong to-day on rumors OF Improvement in
,ho MeAcau si,uation. and rumors that
banking Interests were willing to tend their
support 20 an advance
f,s; before the close there was a sale Of
ihitty-threo share. o: Chicago. Rock Island
aud pacin, Railway Company stock at u.
Tine previous transaction occurred in Octo-
Osr 700 when a trade was effected nj 80
This f. the stock against which the Chica-
10 Rock Island and Pacific - were issued.
These honds were strong to-day. advancing
Tne shares Of til, holding compony-,ho
ROCK LELAND Company were strong. The
from %, 10 -Sl. = story was current that
the Re!l-Moore interests had been elini-
mated.
Pennsylvania t,u &C 1919. on tho statement
ri President Rem confirming the report that
the company is considering tho creating OF
uow Foneral mortgage as the basis OF tho
,onpanYs financing for many years TO
New Haven dropped 10 q new low record
sis. Weakness IN this issue is regu-
Jar incident oi the day and calls forth little
AGsse.siys 6gEioF n III. genera list lis, start,
an! Reading moved up easily. An advance
a corner metal 10 Il cents a pound was re-
fected by advance IN Amaieanatcd Cop
per, and all copper stocks closed strong.
President Vandcrlip,s proposal 10 the Sem
rpent ot central bank brought forth favor
rrs fed assured OF the senators support.
eli in financial circles
Judge Gary az the United states steel
Corporation. expressed views ON the general
Industrial situation that were construed
iarorahiy. Previously TO the publication 1t
had been animated his remarks would he
Excellent showing.
International trades for The month OF Sep
tcmbcr inHdc AN excellent showing. Import.
increased about S25c90.So) over the CORE
SHOW ean Of about oSc'5e DOE SPGI:a
trade FOR nine months Of the calendar year
toy ,he period of about si9""1o,oo1
Government bonds continued strong. tho
= advancing 70 @1is, with several inquiries
that suggest "a higher price.
Foreign exchange broke To si.S5i4, level
at which sold imports have on previous
easions been arranged. None is looked for,
however. as there Is no incentive for such II
movement at this time.
ON SuotreRsury operations the banks lost
sLjJg0tO TO the government N King the to-
spite this however. the forecast OF to-mor-
rows bank statement indicates cash gain
OF about S4,oCo.000.
!, is rumorsd thu, new speculative forces
hnve made their appearance, and have tho
best banking support.
Any pronounced Improvement In Mexican
situation would help the foreign markets
Tor American securities Immediately.
New York October Authorizations of
stocks to-day We're irregular Opening at an
advance the market fell below yesterdays
e'ose. and uurins mos; Of the days session
'AAHe iNie Iroiress in either direction. The
CLOSE came fth an upward swing In pro-
sress and the leaders ended the day With
matcrid gains.
irotc -.oGal traders shifted frequently and
t'ufDty were peipleNei at tho Immediate
course o. the market. The only definite
movement OF the day was that or the last
Hour when the market showed signs OF IN
dependent strength.
There was little connection between tho
Various developments Of the day ana move
m"uis az stocks. Traders accounted for the
early advance 10y referring to the plan tor
:. central government bank. presented by
lr~uk Vanderbilt which Was reported TO
ho'r iuunu favor Win some members of tho
senate committee. President wilson's I'M
compromising OPPOSITION 20 TINS pan multi
iea Tie "fte,t %; tins factor.
NrN HtNon reached now low record
~ N's. 1853 tid the CinVertibIc a. at iQi1. Con
irW"llou of The reports that the Pcnns ylvtt-
me- W"s contemplating huge bond issue
Wa followed Bog rcNcWcd depression of tho
sloct ~ Sl'.rl. Later Il rallied strongly
Roc" lsianis stocks ana bones were -,mov.
"nt rising li,P2. points Bonds we're irres-
.isr WIN support -. s!!n. Recently weak
issue i"tai sales. par value, 81. so OOl.
SAi'e% States = advanced =, Panama IS =.
stock sales 10000 shares.
Now YORK. October . Money on cali
tleatt ~ -~T&' ruiins rate 3; closing -.
line loans steady sixty days 4I.Ui5.
NHtlE aays 3, siN mouths IL. Prime iner-
'tiN.to paper Di.Ht-l pct cont. Sterling eN-
tIihnSe WceE at Si>,' Tor sixty days and at
- N-I ipf demand. Commercial bills, StSli.
ga silver Ga, MeNicau dollars. 4o,: Gov
tih'ocf, bonds strong, railroad bonds irreE-
u,If.