The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-27
BROKERS BELIEVE
SETBACK OVERDUE
They Frankly Look for Reaction
After Recent Advance in
Market.
UNDERGONE is STRONG
Large Quantity OF Buying Or
ders Checks Taking
Sales.
UNDERGONE is STRONG
n, BRoADAN WALL.

New York. January 26,-ro days
stock market opened irrggu,larlyY' re,
Perhaps the opinion was little too
general that reaction in prices was
overdue. Brokers were frankly look
houses we're we'll supplied with buy
ing orders, one or two points neloW
ruling quotations. This gave q str?ns
lludeItone ana checked profit-takinG
Room traders took the short Side
selling steel common, on me lneorE
earnings would be unfavorable., These
Shares proved "as hard as nails, ana
when London unexpectedly placed lih-
cral buying orders, the price shot up
from S. rs TO 66 ga The stock was.
i'm good demand at the end of the day
al a slight recession from the top.
throughout the financial district all
day. Ia the main they were optimistic
and London reported an active, and
strong market Tor National Railways
of Mexico stocks. The second pre-
fcrrcd rose a point here and Southern
NeXican Petroleum was favorably at
tccted, gaining points. and American
Smelters responded by rising two
points.
Minor Steel stocks We're firm ana Il
good demand appeared in the EQUIP
a,cu, issues American Locomotive;
Springs advanced easily. Copper stocks
were uuil, with notable strength III
Utah. which sold up TO ~ Sd.
There is one stock that puzzles the
floor trader. the two-dollar broker the
commission houses and the public, ana
mis- stock is Reading. With u turn
over OF 60,0o0 shares, the price was
practically unchanged AT the end OF
tho day. 1t refuses to advance Whch
tho general market is strong, and does
not decline when prices grow easier
BROKERS' familiar with the history. OF
fluctuations in this stock still antici-
Sh., adv
standard issues lacked snap. Union
Pacific appears to run into n lot OF
selling when the price touches ~
York Central gained u point on short
Southern Railway. common and pre-
lur made by December earnings; gross
Increased S265,O00 and net, Sl2uVOQ.
Few railroads arc able to display such
Favorable figures. Gross earnings for
AtchiSon ior the month OF December
were, the smallest reported for the
9nIh sine }Io S;o @ @Se no IN sr"Ss
sos. GOO For the third week OF lam
uary, Canadian Pacific lost SOD 600 Gao
gross Missouri, Kansas and Texas
increased $4,000.
Bond Dealings Decrease.
nond dealings show, pereoptibl,9P
maintained, especially for the better
grades Rock Island collateral rs
NtNtioptu weak ness anu sou QpNli 10
81 ~ Wabash refundin2 - touched
q new high point by crossing 60 At
teution has been recently called to this
issue The bonds are still considered
cheap
Brokers report that bank officials
from interior cities are freely buying
bonds and short term notes. Although
no definite arrangements were made.
ii Is expected That gold shipments by
Wednesdays steamer viii be com
plcted to-day
Tie transfer OF Stock Exchange
Seat at S5j, 00O an increase Of $4,000
from tile previous sale is considered
u good indication that the semipro-
fcssional public is expected to reap
pear III speculative circles Commits
sion houses report increasing inquiries
from out -of-toWn customers.
For the moment, sentiment on the
street IS more opr;:iistic., than prices.
a;.8 this may reSNlt.%n ali outburst of
buying that viii carry. quotations to
!cw high levels.
Ncw York january g Money on cal
steady Is.H9' ruling :ate. Ia. closing.
ls,R. Time loans weaker Sixty days. $40
2 ninety days, 3'.Q3is. Sis months 4 Prime
mercantile paper 4di9. sterling exchange
nrm at s. $50 i"r sixty days and at $500
Tor demand. commercial bills, S4si. Bar
solver. SO, McNicsn dollars, Is Government