The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-08-07
MARKET IS STRONG
IN EARLY HOURS
Then Grows Dull and Irregular,
With Reaction at
Close.
BY BRoAnAN WALL.

New York. August s.-Aftcr an carly dia-
play OF strength. to-day's stool; market grew
nui' then Irregular. and finally closed with
a rcactionary tendency. The market was
pS no means weak and declines were frac-
tonal. period of hesitation or uncer-
tainty until tho publication Of the govern
ment crop report Friday may reasonably
Some falling of is noted in the foreign
markets: and London houses sold stocks
here here The grain markets we're arm and
stress WAS laid on the Curtailment In tho
production of pig iron. The fresh attack on
Inc coal companies by the Department OF
Justicc accounted for tho weakness I'm Read
ing.
somewhat unfayorable statement of June
earnings Tor l.chigh Valley brought a frac-
iional decline in this stock. The annual re-
port just published shows earnings at tho
tho year and this after heavy innrease
In maintenance OF way and maintenance OF
which had previously been considered suni-
GENTLY high. The report Is highly satistac-
tory showing an increase in general freight
business as well as In the number OF passen-
gers carried.
button VIII he made TO Union Pacific stock
holders before the end OF the year. and
unwilling to deny II. The shares rose sharp
~ to i'aa.. but failed to retain all tho adj
active during the next sixty or ninety days
and this should mean advancing prices
Copper metal sold l5iac. a pound
Houses with Boston connections we're scli-
eis OF The copper shares. and checked The
tendency IN Atnalgafnatcd and
ttah Anaconda scored gain.
Efforts 10 encourage speculation in st Paul
by broker named Noycs failed. as did cf.
forts to KIT tho price OF Erie to 30 1t
is surprising to hnd the number OF people
who arc willing to believe that Erie so re-
Gently on the verge OF bankruptcy. Will con
tinue To- light an advance In wages and AT
tho same time resume dividends on tho pre-
ferrcd shares. The of the recent
buying is one Of tho unsolv~d rnySteries
Of the street and source or speculation
in itself.
There vas some disappointment tina, tn.
directors az the lntcrboro took no action
on the preferred dividend at to-day's meet
ms This should not have caused surprisc
49, tho matter II dividends was not cxpected
20 be taken MP until next month.
Interior banks arc increasing their order.
IN this market for government bonds that
they may enlarge their circulation TO a point
where they VIII be able to receive new pub-
lie deposits Despite tho better sentiment
created hy Secretary Meadows declaration
regarding public funds. monetary conditions
showed nth" Improvement. and local insti-
tutions RETAINED from offering long termed
money. Call money continues in abundant
supply ard renewed at -. per cont
No material setback I'm prices are Looked
Tor at this time. Dullness rather than weak
ness may hc expected TO prevail when tho
market ceases 10 advance. Speculative at
tenuon Is for tho moment directed to tho
Forthcoming crop report, and the announce
ment OF the subscription price to the south
ern Pacific stock that is to-day the property
of the Union Pacific stockholder.