The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-09-13
BULL MOVEMENT
NOT RECOGNIZED
"Ali Cats Are Gray in the Dark"
Describes Situation to
Professionals.
UNION PACIFIC AGGRESSIVE
Chesapeake and Ohio Jumps 2
Points, and Other Standards
Move Upward.
ny nROADAN WALL.

Ivy BROADAN WALL.
New York, September l2.-"An cats
are gray in the dark" The financial
atmosphere has been clouded so long
that the professional traders were un-
able 10 distinguish the bull movement
when II appeared
Transactions to-day gave an exhibit
zion Of breadth and armness no, wit
MESSED For long time: trading was
almost Wild at intervals. and buyers
had 10 jump the big fractions to obtain
stocks The exclusive announcement
IN This column regarding a cash dis
tyihution on Union Pacific marked the
turning point In the market With a
turnover OF more than half n million
shares. stocks We're strong from start
10 finish, nor was activity confined 10
leaders railroads or industrials.
Union Pacific in Demand.
The buying in Union Pacific was ag-
rressive progressive and nsistent,
such selling as appeared for London
amounting to some twenty thousand
shares. was readily absorbed, the low
price OF 1874 is was scored al the open
ing. and the stock was in broad de-
naud a l59 as ut tho close.
Closely behind came Steel common.
touching o.. a rise OF more than a
point Reading was active with 4 gain
OF per cent. and Southern Pacific in
good demand above 81.
Ainalgamated Copper crossed 20 on
a squirt that promises skill higher
prices. II is predicted that the metal
VIII pass 20 cents on the present move
ment.
c. e q. Rallies TWO Points.
y sharp upward movement carried
Canadian Pacific three points over the
previous close. There was a rally ~
two points in Chesapeake and Ohio
and numerous advances in the less
active shares OF from two to five points
Traction stocks Joined, Third Avenue
crossing 40. lnte"boro preferred SO and
Brooklyn Rapid Transit SO More OF
these stocks anon, the movement has
just begun.
IL Is considered fortunate that the
advance today was due 10 n demand
tcr stocks rather than any particular
developments in the news. 1t Is just
probable that the public has begun 10
realize that the restraining influences
have one by one been removed until
nothing lies between the previous dull
ness and an active and advancing
market
What Shall We nuy.
What shalt We buy" clammer the
customers. The concerns Of opinion
answers. United states steel. FOR this
class OF Industrial, Amalgnmajed Cop
per the leader of 4 group; Great
Northern preferred the premier Hill
stock, Union Pacific for It's dividend
possibilities. and southern Pac!nc, an
attractive d.vorcee."
BLu enthusiasm should not include
the whole speculative family. New
York Central $ far from being cheap,
and the ROCK Island issues will be
but momen;ar.ly benefited by strength
II the general list
!; IS useless, however, 10 back n
short horse in a long race, and opti-
m!sm mas the rail
For months conditions have slowly
prccpitated the elements that consu
tIte strength IN the financial situa-
ton. One by 6Se UNCERTAIN and dis
trcss.ug factors Were removed until
the present foundation for strength
has been securely laid. Speculation has
long been al q minimum 40 sub
stauual reaction need be anticipated
urtn transactions approach a million
shares day.
Every other man one meets hopes
Tor reaction.
Sew York September l4-rnion Pacific
outstripped It's recent movements to-day hy
Within shade al Ia showing a gain Of
l0-- points siuCe ruuOrs OF cash Gistribu-
tinn TO stockholders gained currency and
the uDtUrn began. The days advance was
rendered MHte Impressive 10y the fact that
there MAS up hGlllsh news on WhlCh 10
base it, Heart who sold recent develop
luenis HaI hGiit up considerable short
Interest Win the market thus in a strong
tecnEica! position Il required nothing more
thaH the impulse Supplied 10y IN. nuoyaut
'!se !n Union Hac!hc 70 start the whole !ls;
The coppers. whose recen, advance in
sysupatiy with the strength Of the metal
uaihet mas teen Interrupted IN the las,
;eW aays resumed their upward movement.
Cana dian Pacific. benefited 10y glowing re-
ports ui the Dom!uioiis crops was strong
Forecasts 81 to-nOrTow's bank statement
Were conflicting They indicated that the
important ia net results. ana that either +.
slua!! gain cr small loss would hc shown
BONDS showed az improving tendency.
Total sales par value. 81 :%5 900 United
states bonds We're unchanged on call!
Total sales were $500 shares
Sew York SEPTEMBER l2-Money on call
MtIn, =. fAnug fate. ~. closing. Zs.H3
Time loans eHrier slNty days. sGtl. ninety
days. ~. SIX months Prime mercantile
paper @Npf Ste'.iug exchange firm. ~
sis2iy for siNty-day bills and 81 $50 FOR de-
Inhhd C3mmefcial Dds. Hs.'2 Bar silver
sieady RaiIroat poHts arm.
RICHMOND sToCi. MARKET
By caskle G nurch "a Co.
Stock and Bond BROKERS lol5 = Main stree,
Richmond. Va September T. 1913
SALES AT BOARD