The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-10
LITTLE COMFORT
FOR BULL OR BEAR
Confidence in Stock Market,
However, Not Injured
by Prices.
DECLINES ARE UNIMPoRTANT
Public Seems Indifferent to Pres
cnt Fluctuations or Pros
pective Values.
DECLINES ARE UNIMPORTANT
ny DRoADAN WALL.

X,
comfort for bull or bear. and no profit Tor
the trader IN to-days stock market
Th. Cling Of suit by preferred stock
holders ~ Union Pacific after the close on
Wednesday, was poison needle story that
suspended speculative animation CONT
dcnce however. has not bern injured, tudg-
Leading issucrs gained fractionaIy. and
declines we're unimportant. Unfavorahe news
is apparently without effect. Reports from
the copper trade indicate almost complete
stasuAti Ion buyers showing no anxiety to
enter bids at prices that in some cases nre
quoted nearly half cent below recent hE-
ures for the metal.
Amalgamated copper sold up to ~. Bniti-
more and ohio rose point on short cover
ing Fears were expressed that litigation
may defer distribution OF Union Pacifc's
holdings for many months. The quarterly
Ohio Will he deducted at the END OF the cur
ront month. Union Pacific gained slightly;
the undertone IN TINS stock Is disuhctIE hrin.
Heading exceeded any other issue In point
OF activity. and while the shares were never
weak quotations shaded at the close.
Petroleum shares have stopped spouting;
Mexican Petroleum lost III and California
Petroleum fell back fractionally. Missouri
Pacific notes advanced sharply and synpa-
2sss Wabash stocks were fract!onaly high
or on strength in Wabash reiunding 4s.
veloped decided weakness. selling at SEA.
Tho outlook OF this stock IS unpromising.
tho common selling at AK and the preferred
~. OF all sections in tho country. the
Southeast liz the most prosperous to-day
from tho standpoint OF transportation.
No Interest Shown.
Foreign markets failed TO show tho slight
est interest in American rails. and arbitrage
dealers had the smallest days business in
many weeks. Less than 400 shares changed
hands between the International banks.
Pronounced ease In the money market
has broadenod tho demand for bonds. Deal
incs to-day exceeded s3.0oO,000 with wider
bids. United states Steel rs sold up to 1Ol.
Atlantic Coast Line. Louisville and Nash
Vile IS rose from 70 TO 81; American Tele-
graph and Telephone convertibles gained
fractiouaily. Bond brokers report difficulty
in finding offerings OF tho high g~lde invest
ment Issues. although bids have lSen raised
steadily sincc the turn OF the gear
surplus funds are rapidly accommodating
at this centre. Call lonns renewed at 2,a
per cent. Interior banks were large buyers
OF commercial paper, Canada sent another
shipment OF 10000 gold here, and prelimt-
cash by the banks. that should make a
highly favorable showing in io-day's weekly
statement
Stock Exchange prices during the first ten
days OF January have shown Il stubborn re-
sstancc to influences which might ordinari-
ny be expected TO lower values Professional
traders have become active. though weak
lneed bulls. The public is npparcStly
serenely Indifferent 10 present fluctuations
or prospective values
New York. January achievements OF tho
leading stocks to-day were held within n
narrow limit AZ the outset prices cased
OF moderately, but bear traders encountered
buying orders when they attempted TO de-
press further. and the market improved.
For time the range was slightly above ycs-
terdays close, but late selling movement
scaled down quotations. Changes on INC
day we're small and irregular.
few stocks broke away from the re-
innindcr Of the list aud moved moro widely
shares OF the southern and Southwestern
railroads anG OF tho fertilizer companies
we're influenced fnvorably by the cotton Gin
ming report. American Agricultural Cheni-
cal, Cotton OF. Texas Paclnc Southern
Railway and Missouri Pacific moved upward
In tho early market. Missouri Pacifcs al E.
vance was associated with the showing Of
pronounced strength made by the company 9
short-tcrrn notes Tobacco stocks made
large gains. New York Central was heavy
all through tho day, although pressure
against this stock apparently was due 10
short selling rather than 10 liquidation The
since 1897. 90
An outline Of rtti,rust..hirs TO be placed
before Congres--a TIeGred shortly hefore IN .
close and was made the basis OF some nro-
fsssional selling Estimates of ,o-morroc' I.
hank statement, based on known rnoverer, 9
report. sO0u
Bonds showed an improving tendency o,-
thouSh there was pressure In spots United
states 4 registered advanced u on cali
New York, January ?-Monev on c,,,
s'tad% ~ ...aS ruling rate u. closing "a 4,
~ llFnc loans. weaker; sixty DAYS sM n 4.
hhcty days six months. "a. Prime NOR
camille paper. jTbi!. Sterling axchany, a.,
IT sl.s359 FOR sixty days and NJ 81 "a, MN I'm
demand Commercial bills. sA.s36i s2i5 IA,
siiFer' 6Ii2 Mexican dollars a. Governrcr,
bonds firm; railroad bonds firm