The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-05-23
..New York;.
Stock Market
DULLEST DAY OF YEAR IN
NEW YORK STOCK MARKET
Total Turnover Amounts To $4,000
shares. with 1uo-Thlrds Trans
acted Before Noon.
CIIEERFULNEss is RARE VIRTUE
Prices Advance Frnctionally on Cheer
Ing News That AclIen Finishes Tcs-
tiuony in New Haven Inquiry.
by BnoADAN WALL.

BY BHOADAN WALL.
New York, May 22-Stocks were firm
today In spite OF tho extreme dullness.
for to-day was the dullest day OF tho
year. The total turnover amounted to
$4,000 shares, with two-thirdS of tho
business done before IL o'clock. Cheer
fulncss is rare virtue on an empty
stomach. and stockholders may be
pardoncd fo; II possimistic Wow re-
Rarding crops. industry. transporta-
lion or politics. Prices advanced frac-
uonally in the last half-hour under the
cheering news that Mcllen had finished
his testimony at the New Haven in
1uiry. His disclosures have left n
bad impression on the Street, ana II
is more difficult than ever to arouse
public interest In any form of security.
disappointment was felt that Mis-
souri, Pacific noteholders had not re-
sponded moro promptly TO the request
for an acQuiesccncc 10 an extension.
Every effor; should he made by all
classes of Missouri-Paciiic security
holders to get together and avert II
receivership. AS pointed out by n
wellknown authority. II the matte,
is allowed to get into the courts. tho
proceedings will be both expensive and
tedious with s!nnll benefits to any ono
except the attorneys. Monday Is tho
last day for the deposit OF the notes.
Wabash preferred dropped to Ia,
n now low points-a shining illunina-
ton where little OF tho get-togethei
spirit would have made largo saving
months ago.
Missouri. Kansas and Texas preferred
sold OF l-2 TO 49, while Chesapeake
and Ohio roso above 52. this thanks to
the shorts who felt confident that n
dividend reduction would occur nj
Wednesdays meeting.
Perhaps when the next dividend
meeting comes around tho expected cut
will be made. Although Steel common
was the most active stock. less than
10000 shares changed hands. Encour-
aging reports Of trade conditions were
quoted, but the dealings were entirely
limited to the floor traders Copper
stocks were firm. with gain Of Ga
In Utah. Next Friday action on the
dividend will probably be taken by
the directors of this company.
London was still worried over the
situation at Paris. Arbitragc was i'm
possible, as both markets were at a
PARITY Immediately after our opening.
Trading In bonds showed n further re-
duction volume. Prices were fairly
steady. with unimportant changes.
Sterling exchange again closed
strong. Gold TO the amount OF ST.
100000 was engaged or this $500. 900
was made up of coin and the balance
100000 bars. all for Paris. More gold
WAS nnucr ttnI1tlNe engagement lOr
shipment next week
Preliminary figures for to-tiays bank
statement indicate currency gain OF
about 2S.o00.o0o. This will be offset.
In all probability. by a further cxpan-
sion in loans.
Lehigh valley for the month OF April
showed decrease in gross earnings OF
$4,000. The loss In net WAS only
$4,000. New Haven MADE n net gain
in earnings for the Same month OF
$4,000.
Warm weather. midsummer dullncsa
and an Indifferent public have driven "A
majority OF the stockbrUkcrs out OF
town for the week end
New York. May c2-Rusiness on inc Stock
LXehonFs today was the smallest of any
so 6arc conpaTinr w !h 95 e .n ryT,.r IN
March when the nIizzlrd INTERRUPTED com
was due to lack "f confidence OF indliter-
cucc ou the pt:t Oi specula tors and investors
in virtually an tie securities markets OF the
openins prices were a miS,nr. OF un,m-
ihere va. Attic change as thc session pro
fft"cl. Reports from the West ana North
VEST wgrc "Fs!n favorable to crop prospects.
.nd uGdrrsses by he executive heads az the
ate! states steel Corporation hold oui
I.onlon's market was weak. with ,one
further selling here for that HccouMai - c0i,,
t.,TAtiTr e,i in4;s place. nc s.se'i!'f
less than %'to0H shares Another gold en-
EHScmcht OF S.,po.rHt fo" Paris wus reported.
Local monetary conditions slow no change
chiefly because thc demand hus fallen below
normal proportions. Clearing house bank
'fo expected 10 show cash gain Tor the
Mcch. ana bank clcur!nrs of Tho country foi
The same period show 4 marked gain over
tho preceding week.
There was less pressure against the vari.
Gus speculative bonds. ana that lls; was
ialrly steady United states bonds un-
changed Oh call
Ncw Norl.. May "-.-.M0ucy OH call steady
- i"se@: ru.!ug rate, ~. closing. l&.Ic: time
loans. steHiy. sixty aNi ninety ddys. ~: SIS
months, .. Prime mercantile paper. ilriu
sterling exchange steady at EisdI0 tor siNt5
days and at - $50 :or demand Counc-cfa
bills. Sl.Si. Bar silver 55la Mexican dollars
i''Y Govcr1ment bonds steady; railroad
bonds steady.