The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-07-04
SPECULATION ON
STREET DORMANT
Sales for Day Smaller Than for
Any Session Since De-
cember, 1911.
by BROADAN WALL.

New York. July 3.-6peculation was dor.
mant on tho Now York Stock Exchange to.
Day owing to tho grand exodus of brokers
INTO inc country. Total dealings for the day
segregated about 100000 shares tho smallest
total for any hve-hour session since Docem.
Der. 1911.
o The inllness resulted in very narrow price
, nIiGttunti9 2 In tho standard shares and
TNn'ng fractional changes for the day.
Union Pacific. Steel. Reading and Amalga-
mated were the favorites OF what little
with slight fractional losses Spcciaitics on
IN, ,ne oaher hand while inactive. were from
i9i poih;s higher the maximum gnin being
shares ''o'' Va W.
mony given BY David Lamar at Washington.
ana the charges lodged with the Interstate
Commerce Commission that road Is bank
rupt, director of the Union Pacific stated
to-day that the matter was being taken I'M
aer auvisement. and II statement was
that no would feel Inundated II ne answered
tho charges this time.
Initial prices for stocks showed fractional
losses. due TO rover range OF quotations sent
over by London. where there was small H.
quidation of Americans. based on the latest
outbreak In the Balkans. London also sent
orders over to this side for tho sale OF
securities. hut they, were small.
Following the early hoaviness the market
steaaied Itself but prices against eased on
In the Inst hour on declaration OF war be-
tho expectation OF u strike OF gold miners
In Africa. Those influences also encouraged
tne bnOrtS To stand by their nts
over the holidays. with the result that tho
expected evening up of contracts by this ele-
ment did not matcrize.
Some brokers stated that the influences
back OF the recent raid the market was
suli actively at work. and attempt at
demonstration is expected early next week.
"A rumor was also current in the financial
district that the government would with
draw It's suit against the United States Steel
Corporation. This grew out OF the statement
BY Lamar that he had formed tho resolution
instituting the investigation of tho steel cor
poTat'on by the Stanley committee.
Speclalties were strong. especially tho
Chemical stocks. though inactive American
Agricultural Chemical rose IN, Virginia Car
DINA point. and American cotton OIL n
fraction.
Strength OF Pennsylvania Northern Paci-
nc and New York Central, according to
somc brokers. was due to the reinvestment
OF dividend and interest money distributed
the hrst OF this month by railroads and cor
porat ions.
While there many people to be found
who believe stocks cheap at present
quotations. few OF them arc making any
purchaser for their own account. These peo-
pie were classed to-day as members OF
Mutual Admiration Society," which BY d.
rcSt:nS attention to each upward movement
In III" standard stocks hope to work up spec
uiattrs enthusiasm. The ardor in this direc-
tor. however was dampened considerably
to-day when London sold American stocks
on balanC" Most OF the bulls I'm the Street
Ike to talk about the likelihood OF an up
ward movement. hut frown when asked why
they don't pick UP stocks