The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-06-05
..Ne1u York.
Stock Market
CHEERFULNESS ON VISIT
TO THE STOCK EXCHANGE
First Cousin to Optimism Appears, and
Prices Are Firm. with
strong Close
Steel shows Tendency to Advance.
which, II Continued, Should Garry
Along Rest of the List.
BY BROADEN WALL.

New York, June 4.-Cheerfulness,
first cousin TO optimism. made visit
to the Stock Exchange to-day. Prices
were firm and the close strong.
Stock Exchange seats sold at s42,-
o0o. drop OF $4,000 from the last
transfer. john Muir's son, Edwin H..
was properly initiated into member
ship, his collar removed In bits. none
too gently, his tie reduced to shreds
his coat to ribbons. Escorted to tnc
arhitraGe rail. his face was smcared
with carbon paper, a token that mem
bcrs should hide their feelings. Char
lie knobloch then sprinlilcd him with
q watering pot, Il warming that broli-
crs should always keep cool--l2dwin
il. is now fullflcdged member of this
club.
Coal stocks wcro heavy. Lchigh VAL
ley falling to 1874. n new low Level
beading Was under pressure and
dropped 10 l6i Ia. but these incidents
had little effect on the general ten
dcncy OF prices, and Steel. after sell
Ing n 60 5S. rose Il full point. Union
Pacific displayed strength, and South
crn Pacific was firm. Montana Power
continued it's advance, crossing az
Bethlehem Steel was strong, rising
] 5-S. and Can, on n burst of activity
rose from 27 Ia To % "a; the pre-
fcrred gained . points. Roch Island
preferred sold at 3 "a, while on the
other hand. Wheeling and Lake Eric
issues were firm with a point or moro
advance.
Western Maryland common was I'M
der pressure all dny, selling down to
is SIS. ST Paul was steady. while the
preferred was weak. with n 1-2 per
cent decline.
Bonds were active, with mixed re-
suits. Wabash Pittsburgh first As Ger
tificates. which sold ut on Wednes-
day. rose To 10: Western Maryland IS
were weak: Southern Pacific CONVEX
tible SIS heavy, ana Rock Island Col
lateral i'S soft.
London houses bought 5000 shares
OF stock in the carly trading, and then
all activity With London ceased.
Foreign exchange went fraction
higher, but no further gold engage
ments were announced. Conditions
abroad show no Improvement. Brit
ish consols declined further on the
poor return by tho Bank OF England,
which disclosed the lowest reserve
ratio at this season in many years.
The Bank OF France, however. add
ed more than s10.o0o.0oO gold to its
reserve this week. which brings that
banks bullion holdings Sl4,oOO.oOO
above the previous high record. The
German Bank in Wednesdays state
lnent showed ST. 100000 more gold on
hand than u year ago.
Burlington earnings for April de-
creased $iSi,0o0 In gross and S30S. 900
in net. Western Maryland Increased
gross $4,000. but decreased net $780,
coo. Wabash rit;sburEh Terminal de-
creased gross SlS.ooo, and net $500.
Weather conditions in the wheat belt
continue favorable In the Texas cot
ton belt weather conditions were bet
tor
As n market barometer, steel com
mon is still the best guide TO spccula-
,iv" temper This stock shows a ten
dcncy TO advance. which. II continued,
should carry along the rest OF the
list
Trade reports from tho steel centre
Pittsburgh. were decidedly more en-
couraginC to-day.