The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-05-15
..New York..
Stock Market
BUOYANCY IN PRICES
Is FEATURE OF MARKET
Cnmscd by Signs of Returning Life
That Promise Further
Advance,
MEXICAN NEWS is NEW IMPULSE
Pcssiniism Is ONrriionc. mud short In
tcrcst Is Stjll Omen That shows
signs of Fright.
nN nKOADNN VAIL.

New York, May li.-Stocks emerged
to-day from the chrysals of idlencss
that enshroudcd them for weeks Signs
OF returning lie in speculative circles
brought a buoyancy in prices that
promise a further advance.
Steel common took tho lead At the
opening and maintained its supremacy
at the close with a gain of two points
Stop-loSs orders of the shorts were un-
covered as the rise proceeded, and
the sold-out conditioU of the market
was rudcly forced to their attention.
RUmors We're current that President
Farrell succeeded in Erecting new
trade arrangements during his trip
abroad that Will insure sharp rise in
the price OF steel products when the
Sottlvment of the rate question releases
orders for rails. New tonnage has not
been booked at the low prices and
contracts are not being made Al present
Quotations
IN obstinate short interest that
freely prophcsiod reduced dividends
" Ill face AN unpleasant situation with
" return TO normal conditions. Other
steel stocks were taVorably effected.
Erthlehem steel rose -
Equipment issues We're strong, Amer
Jean Locomotive advancing to - IL
ANA Car Foundry gained ;ive-eighths.
Market conditions were ready Tor II
now impulse, and this WAS found in
the news from McNico. As an evidence
at faith III the Cons t!tuticnalists. Next
can Petroleum made an extreme ad-
vance of six points and Smcltors gained
two.
copper stocks were strong under the
Lead OF Utah that rose to 5S is. The
:, further rise. Chino was strong, and
Tennessee Copper rose to 80 LIZ. Gug
=onhcim Exploration gained more than
= point, and Central Leather rose to
o6> In anything like an active market.
this stock Viii probably cross A..
StudchJllrr WAS moved up Ia ~. ana
Should respond aS the market broadcnS.
Union Pacific led tlc activity in the
railroads. crossing l51. quarterly
dividend Of = per cent has been recon- =
lar dividend on Southern Pacific
Trough q SCurrN Of short covering with
III tdVauc. to - Is.
Much disappointin.ut was felt over
the failure of Missouri Pacific to sue
cumb 10 bankruptcy. MI trading ia
tine shares, upon the part of the pub
liz appears 80 have been on the short
side, ana the rally 20 IS IS WAS not
due 10 chccriulncss "r a higher csti
mat" Of the value % the stock
Chesapeake" and Ohio was strong on
tho announcement that tno directors
lad decided to sell TO Lake Shore in .
tyrostS their i\auuwha and Michigan
holdings ~ par.
Chccrfulncss was entirely OF local
origin to-day I.Ondon took no part
IN the days trading. and Paris was
again 4 moderate seller Eouds wcrc
firm, with nu exception, kock island
collateral! -, that dropped FROM 81 Ia
Conditions are ripe tor a further and
substantial advance Ia prices. Pes
:imism j. CNcrdoue. and short inter
est Is sim open that shows silus OF
irivhi
Noury is ahnornally cheap. crop CON
diuons excellent and an iucrcas" in
freight rates almost assured. although
not discounted in tn" present prices Of
standard securities.