The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-23
SENSATIONAL GAINS
SCORED BY PRICES
Increase in Trading and Diversity
of Interest Not Wit
messed III Years.
REACTION NOT UNEXPECTED
Il Slight, Probably Would Tend
10 Stimulate Further
Public Interest.
BY BRoADAN WALL.

New York. january c.-With heavy In
crease In the trading and a diversity Of in
tercst not witnessed in years. prices in tho
stock market to-day scored many scnsa-
lional gains.
speculative interest ana shcr; covering car
lird quotations up by leaps and hounds
weakened by tho heavy retirement OF short
contracts. and = reaction would not he unex-
pected. 1t should. however be brief.
Tho entire issue Of New York state IA
was rcsoid by the bankers within three
hours and the syndicate behind lnterborc
Metropolitan rzs announced that all their
bonds had been disposed Of such ncwr,
coupled with the reduction NJ tho English
Bank rate 10 per cent and tho lowering 10
poriHi Bank OF Germany. stimulated actiN-
exchange. and dealings over The counter"
unusually heavy.
Investors placed much importance on the
statement attributed to President Wilson
hat he did not propose to recommend regu-
alton OF stock exchanges,
Heavy proit-taking failed TO check the
hulliSh sentiment. Blocks of Steel common.
from 1900 TO 10000 shares each. were quickly
absorbed b. anxious buyers, and the price
: points and Southern Pacific made the new
nigh is1re s1,2. Ateh!sen. -; Paul; Louis
preferred were In good demand.
Copper Stocks Higher.
Corner stocks werc actively higher. ANAL
H,matcd closing at '7h. The stock sells cN-
dividend to-day. Utah to 54i2, and the
minor copper issues gained fractionally.
American Car Foundry. Pressed steel car
and Railway Steel Springs we're In demand
at rising prices Pittsburgh Coal issues de-
ve, aed activity and strength. the preferred
gaining more than points
Corn Products Refining that had been
slowly creeping mp for several days. made "a
further gain on the rumor that pending iiti-
CATION would be amicably settled.
Rumors were thick for that matter lIar-
rester gaining points on similar reports.
q nc lee
pora lion. 1t must not he overlooked that
advances in prices during tho mast week
have In many cases been sharp. Steel has
gained 6I7 points. Southern Pacific g. and
Union Pacific almost much. Undoubtedly
and until these shares become thoroughly
absorbed the market probably will lac weak
cned 10y siop-loss orders.
London houses purchased some $4,000 shares
including Ontario. Erie. Southern Pacific
and the low,prtced issues This buying wns
dian Pacific one OF the few weak features.
declining more than point.
can money is drug In the market. and
Time funds were offered to stock brokers
nj J per cent. Money shat held for in
restmeni Is now coming freely to market,
demand by Offering several large issues dur
ing the next ten days.
Public buying Of stocks has taken the
market away from the room traders who
We're swept of their feet ny the extent of
recent advances. \ slight reaction would
tend I" stimulate further public interest.
New York, January 22,-ViEorous buying Of
stocks and bonds continued to-day. Prices
rose In all directions. II more like IA
genuine bull market than any which the
street had seen In many months.- Sen,i-
inent WAS decidedly optimistic. for there
appeared 10 he definite Improvement in
fundamental conditions
The high grade Investment stocks led the
advance. Among the speculative favorites
tere We're signs of proiit-tnkinG at times
ana their rise less rapid than yestcr-
DAY. In the bona market transactions were
The largest of any day in almost TWO years.
~ some cases the advance in bonds amount
ctl 10 ] 10 points
Tho syndicate which yesterday purchased
Sew York States SOL 100000 Issue Of ~ pcr
been sold within less than two hours. II was
understood that the price Was 1917. DurIul.
the day the borf-ls werc4uuo,cd in the open
market az hiph az l9st. This indicated i'm
W"vemeni in the investment market.
deduction OF the English and Gsrn,uu
bank rates gave evidence that the change
Tor the better In monetary conditions was
World-Widc. London bought Steel. Ainnlru-
mated and Southern Pacific here. Whi!c
selling some Reading ANA Union Pacific
ana II was said some business was heinz
d"ne at lias cents. Boston was buyer oi
coppers here.
Cn'ed states bonds were unchanged or
New York. January 20 Money op CA
steady AT Fac ruling rate =; closing Tia
lesH. TiWe loans. easy. sixty DAYS -,
Nlhei! days u. sf~ months s Prime NOR
'tnule PAPER n+Hi3, Sterling cxchans.
steady AT 'i.S361 FOR sixty days ana q, SiS6a
Tor demand. Commercial bills. Y4s29. IA,
silver dI"e 7MeNican dollars s. Govcrnne,,
bonds steady. railroad bonds strong
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