Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1914-12-16
STOCK MARKET OPENED
TO TRADE IN ALL STOCKS
Exchange Starts Business With Wild
fiurrah, and Prices Are Carried
Upward.
Liberal SELLING FoLLows
Figures Slide or Rapidly, hut Re-
action Is Beneficial to General
Tone of Markct-No Fear Felt for
Dumping of Foreign Holdings.
ny BKoApAS WALL.

NEW YORK. December iS-Stocks started
with n wild hurrah TODAY For the first
time since July 30 all stocks were omen for
trading tho noor, The transfer of such
leaders rs S,s"! common, Union Pacific,
southern Pacific and Canadian Pacific from
tho clearing house increased pubic inter
vances in the tirst few minutes. shorts out
bid each other, and tn" high prices thnt
In los;cal sequence liberal selling from
local institutions that had been forced ("
had p'ckea np cheap stocks snd selling in
u'ii'e a large amount for EnShsh ana Ger
Prices sid or rapidly. bu; the market was
not ovcrfed ard the reaction was more helr
scored within the previous tweniy-four hours
could hardly be considered as justified by
ne , neT Ty rs ~ :" nnSiT olc At
Heavy blocks changed hands privately dur
ing th' summer m, Us LOW Hs So ann Geen r.
-Four thousand shares were sold between
- and 49,. whom The gong struck This
going down to il', In tho late trading. Aroun
- Steel common has time and again proved
the minimum price. forty -oiEh; brokers are
pointing out to their clients The pronahil.
the railroads viii place large orders fo,
steel rails within the next thirty DAYS and
foreign orders looked for the rebuild
ing Of bridges
STnnnaian.. racins fSll fTcm he OPENING
"rn Pacific were strong at tho opening, with
later declines. tho former rcactinc from N9'a
TO SdS, snd Union from l22 TO !,7i.. Profit
taking carried AmulEamGtcd Copper down
JIG points from the opcntng, and Anaconda
Baltimore and Ohio dropped from - 10
tai.. ana Northern Pacific sold from 1885,. TO
1924. Both the stocks are relatively high
whom compared with PENNSYLVANIA. Great
NG SH,no Gc4 Or Union r ,ss, ,,,.
in fluctuations, and their absence from the
trading resulted in wide movement In sales.
There was little disposi;ion ia 80 short
~ stocks. Foreign selling is expected to
continue: hut it WAS not believed the mar
kot would be forced To take stock in sudden
or large amounts on the other hand. The
bankers are not willing 10 encourage great
speculative activity una! after tho turn of
the year, as there are too many lame ducks
TO he nurscd back 20 health befor. the
Speculative situation can II" considered thor
ouEhly strong.
;ow,rTssa stocks ,ha, can be had for
ont,
NEW YORK. December l5-rhc outcome Of
;o.iay.s stock trading viewed with especial
interest because /, stsnalcl resumption OF
brokers' 10 have been source OF disa ppoin,-
y, 70 me long account Initial quotations
national list gave promise OF 81 con, ,uarcc
oi the strong tone shown in the two PEE
with The first signs OF a demand. however
heavy selling orders, appeared; .and advances
the passing hours In the tinal hour these IS"
, ranged from TO over > points in more ar
dose United states s;eci and IinltI,n ore
and Ohio We're especially susceptible to de-
cline.
European interests wore reported active dis
posing of fully $500 shares
More than half the days business was
transacted In the first hour. the balance OF
ihe session being dull and without not
worthy feature.
on the whole the course OF the marie, re.
nectcd conservatism hy Investors no less
han caution by tho hears.
Less was heard to-day OF the reported at
titude OF the Interstate Commerce Commits
SION respecting the Eastern freight rat. in
crease, and the fact that the large steel in
terests were soon to arrange their wage
schedules for the coming year with pros-
poets OF general reduction. made for further
pause IN that quarter
Reichma-l;s were weaker Bills on Lon
don were steady. and markets there reflected
strong tone.
Long time loans in tho local market hard
ened trinc with short dates unchanged
E"nds Weakened In sympathy with stock
sew YORK. December I5-Clos:ng: Mer.
camille paper. f4Mh@: -terlnE exchange
i!Tm sixty day bills. si,Si5o: for cab es $, S:
'or demand. S>S5; bar -i;yer 49,.
Mexican dollars. ash, Government bonds
steady; railroad bonds. easy Time loans
hrmeI: sixty AMI ninety days. i1iL,: six