The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-05-23
BETTER BUSINESS
IN STOCK MARKET
Union Pacific Is Leader, and Has
Been Giving Tone to
Speculation.
Ry RROaDAS WALL

New York May 22.-There was consider
able increase i'm business OF the Stock Ex-
change to-day with strength and activity
| In Union Pacific. This stock Is an excellent
market leader and In fact has given tone
meetings have been held to perfect n segrc-
CATION plan OF the Union Southern Pacific
and Central Pacific. Officials on
their way from San Francisco to attend a
conference on Monday. and the details. 1t is
expected. will be made public at the begin
ming OF the week
Although news from abroad was conflict
Ing regarding the success OF the Chinese loan
nature and those from Berlin indicating a
lack of public interest In the issue-there
is feeling OF relief here that the Notation
may be dismissed as n market factor along
with own city lonn. which found good
crease In the Jersey Central dividend brought
| n sharp rally OF points in Reading. and
Lchish Valleys favorable showing Of earn-
ings for April indicating some 50, ooo. 900 in
crease for tho ten months OF the fiscal year.
helped sentiment materially. There Is a
strong feeling tho street. especially in
houses with Washington connections. that a
probably he handed down Monday. and
reports seem TO agree that the result will
course. there can he little real foundation for
ruinors OF probable action by the Supreme
cour, Of the United States the stories
brought buying In st. Paul. Great Northern
preferred. Northern Pacific and Louisville
and Nashville. These orders had more OF an
Investment character than has been noted
for some time.
Pennsylvania was still under pressure and
closed with fractional loss. The ST. Louis
md San Francisco issues were weak with
renewed selling In the general IS. while the
Rock Island issues were firm with n de-
cidcdly better market for the Chicago, Rock
Island and Pacific Is NJ advancing figures
Consolidated Gas. old investment fav-
orite. rose sharply on rather large trading
for this issue. There is strong bull.h
feeling and much higher prices predicted
California Petroleum shares were again
under liquidation. closing at the low point
OF the day. with loss Of 4 points in the
preferred. Steel moved easily with tho rest
of the list. neither taking tho lead nor drag
ing behind. There is probably a more natural
market In these shares than In any other
stock on the list. AmaiSamatcd Copper cas-
liz recovered the loss OF the day before.
actively traded in Mt rcccssions rumors
ment notes
London houses sold abou: 10000 shares In
our market, and private advices Indicated n
pessmtstic feeling In foreign markets. The
Bank of England showed gain OF over
SG.oC00oo gold for the week. but its gold
holdings arc still the lowest for any year
NJ this time since 1908. The Bank o. France
IN It's weekly statements shows an ncrea
OF about $1,000 600 in gold. and nov holds the
largest stock of gold ever reported at this
time except In 1910.
While there is little Improvement in com
mission business. stock brokers are looking
for n higher market. and inclined TO en-
courage the purchase of such stocks ms
Union Pacific. Reading Amalgamated Cop
per and steel.