The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-13
MARKET ACTIVE
AND CHEERFUL
Something Like old-Timc Con-
ditions Are Noted in
Wall Street
RALLY NOT MAINTAINED
Force Spent Before Noon, and
Leaders Become Dull and
Prices Drop.
RALLY NOT MAlNTAlNE
NY BRoAnAN WALL.

*,
time activity and chccrfuiness were noted
at tho opening of to-day's stock market;
erng and little outside buying.
Early actiyit, spent its force befors noon.
and the leaders became dull and fractionally
lower in the late trading.
Pronounced Improvement in The steel trade
., Pittsburgh brought United states Steel
common into prominence. London took some
Zoo shares. paying UP to COS. 1,,,
subsidiaries iinds reflection in the oil stocka
listed on tho exchange. Texas Company
eloscd OF AS after fluctuations that ranged
rom li3 to ~? Mexican Petroleum on sales
OF less than 4,o,N shares advanced from oil
10 80, and California Petroleum was actively
dealt in between 23ia and IS. Rumors were
assigned the sudden activity, but the
opinion is held that the shares were entitled
the rise IN view of the advances that
have occurred in tho outside issues,
Minor ste, steel stocks were active di nt es.ter
gained points. and Bethlehem Stees were
Jersey Central Jumped up p points, blu,
tending. the parent company, failed to show
any Improvement. Other coal stocks
strong Lehigh Valley selling UP to 1925.
Many OF the minor industrials scored ad-
vanccs. and traction stocks were firm.
Bonds continue consistently strong. Trading
directed TO scaboard Air Line adjustment,
Us selling about 7Gi@, and earning several
times tho interest requirements.
rhcre was II fair rally in Rock lslaud col
lateral that aent the price Ia 30. Convertible
ami it difficult; TO an their orders FOR the
better grades. Inquiries have not yet ca
tended to the semispeculativo issues.
Conditions Ia London show little better
luout. Consos were easier. The S5.oNo, 90 dia
per cent Saskatchewan loan only part
ili success - per cont remaining on the
hands OF tho underwriters. An official state
mrnt from the British Foreign Office that
protection to British Interests in Moxico is
taken u indicutc the preliminary steps OF
American Intervention. The news had
Sow that Tho clearing house institutions
Lave the largest surplus held al amy tiro
within ten months, II Ia expected that bank
crS nero may bring out some OF the long
ucayed financing.
speculative in,ercsiS: arc restrained by. tho
holding ny of tho Union Pacific melon"
tho withdrawal OF the New Haven bond issue
ard mew attack oh the Saw York Central
afsten. There Is a growing sentiment fav-
urins higher price,. but considerable uncer-
tlinty as TO which stocks viii Se chosen
leaders
i;ailroad stocks viii DO uncertain until :,
decision is rendered on the Eastern freight
rates. The metal shares arc influenced by
Traction stocks arc strong. bu, they make
poor market leaders. OF the coal stocks,
Heading promises setirity ana strength.
New York. January Representation was
animated during tho carly stock market
Activity decreased later. but stocks were
sustained on substantially higher level uu-
~! Tho closing hour when tho narkc, sold
OF. Many OF the minor stocks. which usually
are not prominent in speculation. came to
the trout and scored large gains Shares
al Tic independent steel companies and the
OF. ic:tili@cr and equipment issues We're
strong, some OF the leading issues lost all
their gains 80 the reaction OF the last hour
hut the fpecialtes held up we'll.
sentiment Was more cheerful The lower
rates Tor many and Saturday, uncXpcct edly
strong bank statement Indicated Improve
luent IN the monetary position. steel trade
reports were better. The foreign demand
Nas centred in steel. Texas Company CON
'lnueo the spectacular advance which
drought IL into prominence last week add
lnS points to the nigh price OF Saturday
'cw Haven WAS bid up points In response
80 Tia" announcement from Washington of an
"etcemcnt between the Attorney General
ana the company for partial dissolution Of
IN" system. Mexican Petroleum jumped
nearly points.
New York Central continued to sag. fan
!ns under the low p9ipt touched in tho 1907
"i nearly twenty ys-frs Pressure ON this
stock was associated WITH Washington nd
Wees concerning a proposed congressional
inquiry into the New York Central system
Bonds were strong with some issues risin o
point United states - advanced n Oh
,ali "
New York, January le-AIoney on cali
steady at :G-t. ruling rate .ia closing ~ n
"a Tim" loans steady. sixty and ninety
Gays i14'. SIX months. $685. Prime lu.r-
,"hiHc paper. iig05 Sterling exchange cas-
Ter ~ SiSii5 for sixty days Wills and at 81 s6s5
for demand. Commercial bills. si.S2.. Bar
silver o".' Mexican dollars. A.. Govern