The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-12
OPTIMISM HELPED
BY DEVELOPMENTS
Changes Easily Adjusted Under
Change of Heart Shown
at Washington.
SHOULD RESTORE C CONFIDENCE
Big Business" Making Efforts to
Avoid Friction With De
partment OF Justice.
n, pRoADAN WALL.

New York, January 1.-THE first ten
tors which developed favoring Opt
mism The decision by Union Pacific
directors To distribute part OF the vast
ulaton in securities of other proper
ties was the first notable step towards
meeting government wishes. some ne
lay may be occasioned until 1t is deter,
mined whether or no the preferred
stockholders are to share in the dis
'ribution. As a market influence, IT
IS conceded that Union Pacific. as m \
per cent atock. will become moro popu :
Jar rs trading issue. aud il is not
Improbable that. With. the return OF
better conditions, 4 further distribution
OF assets will occur.
An agreement reached between AT
t.orney.--General MeReyn,olds and PreSi-
Sew Haven without a suit shows how
'apidly differences may be adjusted
under tho change of heart shown by
Among nnanciers the opinion is en-
pressed that confidence will DC rapidly
restored, when the public realize that
business and the money powers" TO
avoid friction with the Department of
Justice.
1t is anticipated that an early an
nouncement will be made regarding the
suit against the American Can Com
pany. ann Wall Street is looking for
ward 20 an adjustment or segregation
of the Eeading coal and railroad prop
critics This Is probably the most pc.
tent speculative IN wall StEtet
to-day, for the Reading anthracite
holdings have largely increased in
value In recent years without any in
crease in the capitalization Of the com
pany.
Within the current month the much
Metropolitan preferred will probably be
settled. Local traction shares have
shown consistent strength, justified by
the steady increase in business AT
pHIIN abandonment the Southern
Railway voting trust will direct fresh
attention TO southern Railway pre-
time favoritcs in the London and Am
Sterdam markets and large blocks oil
the preferred stock are still hello
An Improvement. in foreign, money
markets was attestcd by the decrease
IN tine English bank rate 10 g PEI
lcstea abroad TO re-enter the market
Tor American stocks. London particu-
larry has failed to show faith In the
improved tone OF stock prices. Bonds
are an exception. however, and a brisk
demand is shown for notes and high
grade railroad mortgages.
Pittsburgh reports AN encouraging
demand for finished steel that will
start many of the independent plants In
full operation this week From Gary
comes the news that seventy colleovens
viii he put in operation. owing to the
improved demand that has arisen dur
ing the past few days.
copper markets are still staggering
under the heavy increase of $4,000. 600
pounds OF refined copper. as reported
on hand January !. Trade reports In
ms industry are not encouraging
financial troubles in South America
have curtailed exports. and the local
market is at standstil Curiously
ms unfavorahlc showing had little
"ncct on the price of copper shares
Bond Brokcrs Hnrd mn.
Bond brokers We're hard hit when
ne supreme Court denied New Haven
the right 10 issue S61 100000 convertI- :
hle q per cent bonds. Some $50, 600. 600
of contracts had been dealt in. and in
many cases the brokerage had been
paid IN one instance a broker had To
refund sl.9uo IN commissions. The de-
cisnon undid all transactions.
Inere Is still Il stubborn short In
terest open in the stock market. i'm
steel. Union Pacific Reading and Anal
Sdmatec copper Shorts in New Haven
Were much disappointed when the
stock market failed TO decline Snturdn y
with the concerted cffor, now anna
rent; to promote business harmony
advancing SubStautiallv