The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-07-17
CLOSE IS IRREGULAR,
LOSSES PREDOM|NAT|NC
liquidation Slackens, Pressure From
Bears Lessons and Prices
Are Steadieu.
TRADE CONDITIONS MINE1
Indications Now Point to settlement
of Freight Rate Question by Inter-
state Commerce Commission Be-
tween To-day and Monday.
II, nno>DAN WALL.

ny HRoADAN WALL.
New York. July ld-Liquidntion
siackoned io-day. the pressure from
main stcadied. There was no improve
'ncut in sentiment. however. and the
close was irregular. losses predominant
Nc~ Haven fell to a new low level.
SSllms at ~ 5-S. but efforts 10 cover
Shor; contracts carried the price TO
- with Larry Content buying.
Unless there is All immediate rcsump-
iior OF liquidation. the stock may rally
further rs me short position is over
cNtordod, 1nd the bears lack courage
on patience 10 SIT out a dull market
widely ADVERTISED drive in steel
itW Niop orders We're caught however
the stock rallied easily TO within 4
traction of the previous close Harry
and Walter Content pounded the price
and apparently lost considerable stock
around - ST Many Of the room trad
cIS made debts by attempting 20 fol-
low this attack, for there is popu-
lar orinion that steel common is high
compared with other issues.
Union Pacific directors authorized the
rNH"nt OF the extra dividend on Mon
doyy next July 90. As Il bull argument
tie news proved a frost, and little
speculative interest was shown in the
IN Baltimore and Ohio from interests
who never speculate and made no at
tempt TO sell until the distribution was
Sohl rme". The common dropped to
~ IS. and tho preferred to a. IL.
rev low records for six years. The
denEu of a report that Cauadian-P Pa
circ cont emplated Il new issue OF Sc
curitics gave q firm tone to this stock.
;Dld the declaration of the regular divi-
zen! on Nmal"ainated Copper Stcadied
thif stock after carly weakness. The
Mexican news of ilucrta's retirement
was reflected in the iirmness OF Amcri-
can Smcltc's and substantial rise in
Mexican Petroleum.
London and the Continent kept up Il
steady selling Of the low priced issues
l.
and Teas In. Erie issues and Denver
common am preferred are coming back
Denver preferred selling at 81 and
the common at 81
Many of The stocks now selling be
lov 81" per share would have been
considered rare bargains "a: the figures
twelve months a"o. but public scuii-
nent at least realizes u hopeless posi-
iio;t Of our transportation companies.
which c@u never he improved SO lon:
as wages ard taxes may he endlessly
latsed, and increase in fregh, rates
denied.
Bonds were heavy. New York, West
chester ma ma Boston :, Us fen below
ING ~ dropped to - 4. Rock island
collateral! IS We're heavy. and the de-
henture IS fell nearly points. This
i>suc is probably ovcrvaiuc'l even at
current figures.
ch,isago' Hprlington and .Qnincy
gross ana $2l9,oo0 net
T"ade conditions were mixed. an I'M
,hrov"rent being noted in the iron
hustscss and the sharp falling OF in
the demand for copper metal.
Indications nov point to settle
Incut OF the freight rate question by
the Interstate Commerce Commission
some time bctvcc tomorrow and Mon
IaN Wall street no longer looks
hopefully fer III. announcement, and
th,r' = strouS opinion that what
SH"r 'he decision liquidation will he
renewed. MI factors considered, stocks
are not considered cheap
New York July is Although new add
tiopel low records Ncrc csta6iishcd. to-'iay'.
stork market moved in more orderly fashion
". again was shown ~ Baltimore and
ONO Issues. Sew Haven. Pcnns ylyun!s, ben
rcuusyi vania ana United states Stecl
=" Haven tell mere fraction under yes
day recovered. ana closed with a smart net
gain Baltimore and Ohio's setback may
the Gni/n Pacific Railroad. permitting the
distribution Of its extra divilend,' largely
weakness, in Denver aud Rio ,;randc bore
more "f les directly ON that company's in
R0iIoad Rock Island fell back again. ca
ntHtdu facint recovered more of itS.yeoept
aate Financing is contemplated -
L'salinss mere for foreign account were
winor railroads and buying half that 0uan-
NY OF Cnuo3IHn Pacific and Steel. lieavi-
md related issues was the feature OF the
tinted states bonds were unchanged ON
.4i'- sterling steady s.Nty-day bils.
$ demand. siS;iJ. Commercial bills
-. government bonds, steady: railroad
bonds. heavy. Gail money. firm, .d,N..
rim s%ty DAYS. =. niie;y' da ,y!"e = o" Ii
nrnths. iHf,