The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-07-28
MARKET STANDS UP WELL,
DESPITE WAR OUTLOOK
Stocks Show Considerable Strength
on Wall Street. and Losses
Are Only Slight
FOREIGN EXCHANGE COLLAPSE
Never Before Has Similar Situation
teen Presented, and Arbitrnge
Dealings Virtually Are Stopped.
Foreign Discount Rates Are High.
BY BROADAN WALL.

Ncw York July 27-Considerine the de-
markets, ''o onhs :' 20 the seriousness Of the
Nustro- Serrian situation and talk OF n gen
asiy Vel on the New YORK sSock Exchanss
TO-DAY. nnsl prices showing only sligh,
losses a compared With saturdays nnal
London zen, over prices for American
Canadian Pacific. Experience has proved
Ninerjc3n tock ,.% 5m"c,I.pie ao a,5 - Nrokaps
tried again to-day TO execute orders for
American shares shares abroad a, the London
haif poiu, Of The quotations
perressing influcn"e.
exchanges together with the Paris Coulisse
po o Ss hn nri orsa n ms b also re-
dered closed. but this WAS not taken Sc
lousy A. The session progressed The for
IN our market moved upward In the last
hour ,hers was rally that, carried quota
Considerable talk was heard that tho
fTcish, rate decision would be more favor
4 feature of the day wa. the collapse Of
ihe foreign exchange market. ,or the first
time In history, according to international
rankerS TINS brought about a virtual stop
PI bsm al fF sterSs d9 nd as.
hlEh records. tho former touching sis2 and
TIE later Ns4 forcing bankers and brokers
20 pay through the nose as one banker
phrased 1t Despite these high prices. bank
cIs ana hrGkers were unable TO purchase
,.il the bills ~
Foreign discount rates also were higher.
International bankers said all these facts
europe.
>Unned M to noon to-day. when the supply
81 securities abated. Bankers estimate that
sold oy Europe recently A. II result, OF this
selling, bankers bills drawn agains; the
financial interests are not dIspayins any
eaaeTness TO make additional purchuscs rho
LIS al n }.
on their way over to this country also rs IL
expected TO Increase the demand here for
Call Nancy Higher.
,, ca, none was slishiiy higher to-day,
20 The European situation. the steady t'ow Of
gold from this country to Europe and tho
additional gold TO the amount of $1,000. 900
Ma taken for sNnor; to-doy. and; according
within The neXt Two days. WA 'e ''"e"
= impGMTIan; hmanGiers eNpress the belle: to,
cause further iiqudaiion OF American Sc
wurll''ss nut theY iei' that this would I've
this country would get from the foreign
nations ma, m. ENGAGED in war. They also pointed
MHniI be nnid In ono way or another by the
according to representative bankers are
,m.i Therefore. NO concern ~ Entertained
mere over the Shrinkagc in market value of
yoro'En stocks.
-NrN ioths July THE subject a.
discussion IN financial circles to-day was the
impend!nr crisis in Europe. pcmoraliaati
~ the London market which was also hear
ing The weight OF latest developments in
Ireland. Wa strongly reelected here.
principal American stocks were OF "a
poinis III London. Canadian Pacific being
weakest ~ The opening hero declines were
le'S extensive. hut further recessonS occurred
rs IN" morning progressed Canadian Pacific
.2>ins q TOTAL OF a. and other securities OF
me nrst-riaSS yielding "a 3 per cont
Dealings ia The FIRST hour ap,roxim.,.J
-'|,! 'harc> AT noon the total 35oo)o.
AeeiuG9nni large gold cnEASem-nts for Eu-
rope including s3.c'9coO to London aided
'2 nc genera umse;tlcm"n,. Foreign c>.
no market recovered substantially in III,
afternoon on rumors that Aua,ria and Ser.
Nlt might agree 20 arhitration
BondI wer" weak. with 4 break Of III,
points IN Chicago AMI Indian coal Railroad
and p. In New York city it,s % I,ii
nlicd states bonds were unchanged ON call
Sew York July 2i-Cali money s,eady
-'-i. 'ulius rhir. ~. closing. ~, d.i. Time
loans stronger. s.Nty days. 3oSi. ninety ds%".
@'.13'- iN months. it.r4's Mcrcantiie
p.a,PSr i'.H5. sterling. exchange democrat.
lkti. siAty-day bills S.S5; demand Si9,5i
~. Commercial h!ll.. SIS. Bar silver
'-'s Mexican dollars. to-. Government
ruNlS steady Railroad bonds U,.k