The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-02-18
PRICES SLUMP IN
LAST HALF HOUR
Trading Excessively Dull for
Greater Part of Session and
Undcrtone Firm.
ACTIVE MARKET PREDICTED
Present Conditions Likcned Il
Those That Ruled i'll Novcm-
Der and December.
by BRoADAN WALL.

New York. February i7.-PriCes slumpci
generally ia tho las; half hour to-day The
announcement that Great Northern directors
ha6 decided to suggest to stockholders tho
issuance OF 1900 additional shares NJ 100.
Tho marke, WAS quite unprepared for the
ncw-. Great Northern fNli from 1919 to 1896.
IN the past. stockholders Of this company
have aNuiled themselves OF the privileges of
assure success in tho present case. The
rights VIII he equivalent 10 y ~ per cent
extra dividend
Trading was excessively dull for the great,
par; Of tho session. and the undcrtono quiet
ly firm. Buck Buchanan, shrewd floor
lions to those tina, ruled in November ard
December when the majority OF tho profess
sional operators were looking for develop
ments that would upset prices From his
loint OF View, We are entering a period OF
active stock market.
Eas ,lhS,n. in iina4cc Ghangge The Jun
y. Morgan is to-day being carried out by
tho house OF Kuhn, Loeb & Co. There bank
ers wait In line to obtain a participation
for fresh avenues 70 pronte. The successful
scEregation OF Union Pacincs southern Paci-
of tho value OF the New York State bonds.
rhcsc were turned over with a quick profit.
I" undcrwri;. the SIS o0tl OF new Southern
Pacific 81 an immediate success SubscrIp-
Tons arc now pouring In for tho $4,000 ooo
Western Union stock. AMI a heavy nver-s,lb-
sCllp'ou rs anticipated.
Tfe Morgan arr treasures have Just been
placed on public exhibition. New Haven
was weak. selling down to GSis New Yorl.
duction IN tho dividend rate. and internn- .
ioua Mercantile Marine r9s are kicking
about at (5r on the dollar.
Che,apeake and Ohio turned hanasprings
WITH hat-poiut fluctuations. dropping from
~, to t2s,. rising a fun point in tie las, few
minutes. when the balance OF the list was
Neak Copper shares werc firm Amalra-
,,s. SOLD up 20 7eA.i and Utah touched o.
VI Ttg hgl tNCl No; &
mon displayed a quiet undertonc Of strength
Fennsy yanie lost IL points, and Atchison
PIiei pressure. This stock does not act well
Texas on Company WAS strong. ana McMi-
story current that tho Los Angeles crowd
WI" bought these shares some p points low
holdings on the New York bulls who ala MOI
fGt N untii the price crossed %.
man 1000 shares chang!ng hands. with sales
rredominating. Activity in bonds increased
yonsiderab!y wabash rounding A. advanced
from 59. TO o. These bonds are held in
ligh favor by some of our leading bankers
~, I,,Has company convertible 6s were strong.
ms issue Is considered safe. and the price
>, . AnothSr block. of sio,coo.ooo Interborough
Rapid Transit first refundng 5s has been
sold 10 q syndicate nj 20. An additional H.
i Sue 81 iike amount Will probably nc taken
rant. "''
New York February l7-AIthouyh London
80
men offered stocks here, the market Pre-,
serted fairly firm front. II rallied how
eyer, 10 make up any, ground lost in yester-
uaS decline. scarcely deviatinc from the
preceding closing. Trading was light The
Aia! Isct turned heavy toward the close.
inc days Significant development was Tho
series OF announcement OF forthcoming capt
~ Issue New, York Central applied Tor
pernission TO Issue s,ocO0,0S0 bonds. Great
NoTlhern made known Its proposed sales of
Si9,V"',"'s stock, and lnterboroueh Rapld
transit sold sio.0cJ.0jj bonds Win the Pc
Gently announced issue OF So, 0C0 goo Southern
"AciLc convcrtiblcs, the amount or new Sc
eurItes arranged Tor In the las; few DAYS
runs up well over sl5o.0c0 COO II has hcen ~
uecteu Tor some time that improved condi-
tt lof. IN the investment market would result
n large amount OF new financing Great
Northern preferred dropped over ; points
Hreai northern rights" sold In the outside
Bonds were irresainr with an easier ten
on call.
New York February l7.-Money on cali
steady az i&@2: ruling rate, tx, closing "a "a,
>. lllne loans. easy; sixty days .i5G,9S.
ninety days. - as; six months. =. a3i.. Prime
mercantile paper 3A,n+ia Sterling eXchnng,
nm 1T SiS$," for sixty days Commercisi
t9lla, <is3 Bar silver 57N; Mexican dollars'
-. Government bonds steady; railroad Gofds