The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-05-01
Neu York..
Stock Market
STOCK MARKET. NARROW;
MANY MOVE GRAPHICALLY
Sharp Upturn I'm Last Half Hour. Which
q Carries Quotations Above
Previous Close.
RAILROAD TRAFFIC STATEMENTS
Some announcement ON Rntc Case liz
Looked For Within Few Days, and
8 This should Prove StimuInnt.
by nRoADAN VAIL.

New York. April 3o.-To-day's stock
, market WAS narrow and dull.
In the last half-hour there was
sharp upturn which carried quotations
well above the previous close.
speculative interest was centred in
Missouri Pacific. Selling pressure in
the morning drove the price to 10 IL.
n new low level. and brokers drew the
Z conclusion that control had passed from
the Gould family in recent heavy sell
Ing. \ shar? covering movement car
REQ inc price up 10 nineteen, when
rumors were circulated that strong
Underwriting syndicate had not only
agreed To take care Of the Sa.000.00U
notes due June !, but had agreed to
advance io,oUo.o00 in addition. These
rumors could not be confirmed. but
Kuhn. Loeb X Co. were understood to
nave engaged experts to make an eX-
animation OF the Missouri Pacific.
Many stocks moved crratically. Steel
was sold down in the morning by trad
ers. who Il few minutes later bid the
around F.: o'clock carried the price
swiftly TO 81. when another rally
brought the figures up to IS is ut the
Union Pacific rose easily. Pcnnsyl-
Nania, Great Northern preferred and
Northern Pacific advanced on light
sales. This movement indicated Il ncr-
Nous short interest
Canadian Pacific was strong open
Ing with an overnight gain Of a point.
Purchases for foreign account were
1radc on all dips, and the shares ad
vanced to 1913 on comparatively light
New York Central was taken in hand
by well-known bull. and marked up
10 90 IS. with rumors that \ further
drive would be made against the shorts
tomorrow. New Haven was quietly
strong. and the success of the bankers
z in disposlng OF the notes will probably
: start covering movement. Wabash
4 common sold at . IL.
y copRer stocks lived up 10 their re-
cent record for consistent strength
and lee securities moved VIZ i dollar
on renewed stories Of midsummer
dividend. Studebakor was strong.
MeXican Petroleum gained points.
y tive public
Another point advance in the aver
age of prices will probably bring some
ness have weakened the borrowing
power of money. with the result that
operations on the short side have been
encouraged beyond The point Of pru-
dencc.
Dealings for foreign account were
reduced To minimum few caring to
E observed by all the banks in London.
Foreign markets were quietly nrmor.
consols and french government rs nd
y, Nancinr, although the statement Of the
: Bank Of Eng gland was far from salts
factory. with q reserve ratio OF 42.s7
per cent, the lowest point for this
week IN eight years
were mixed. The Baltimore and Ohio
showed net increase of 1851 900 ON
r gross gain of sis4 GOO due to drastic
retrenchmcnt. Rock Island gained
$500 600 net Southern Pacific lost
--S42s.poO net.
y well directed drive agains, the
shorts would probably bring scurry
to cover Foreign liquidation has
ceased and the local market appears
to be extensively ovcrsuld Some an
nouncement on the rate case is looked
" IN ft... r.,
should itself prove Il stimulant
,S New :, York; AnrII :S-2;uo'.,lops moved
after several hours Of uncertainty. GnIi the
finai npiurn. which was accompanied by an
OF the time the level Of prices was above
yesterdays close hut III. market Was dis
weaESr Stocks Thc nce5iea Impulse 1plG came me
~, the last hal: hour In reports ;na; control
powerful hands. This stock. which previous
~ had reached new low point a, H..
was hid up nearly points from the days
with il " ' "''''1 '''''' "s' 'N'""eed
Conditions favored the market at ,he open
Ing. London had established a higher range
or price an4 bought stocks mere General
more hopofa ,drS S Me}s s% SHair s"' "a
ditional railroad reports Tor March In most
influences there was "a general advance i'm
prices The highef i"vcl was utilized fog
seeera recess!ons before the metric; nEnly
Ang upward Another una.;tl.g fInu-
ence was tho weakness oi s0W priced rail-
road stocks and bonus. especially 81 th,
Gould roads. Rock Island co!aterals and
* debenture IS sold at new low n,urcs. the
former dropping 10 COS and the latter ~
Goa Steel also yielded under professional
pressure Recent reports OF poor trade CON
ditions were emphasized by announcement
OF further price reductions
Prospects ~; strong bank statement md
Z thSknsSAVrov!ng outlook FOR peacetnl solution
1R ieN!can problem Influenced the
Market. Orcriugs larger and
o. short periods were scaled
49,, ere Irregular. Ui.iicd States bonds
~ flnnSed on call.
rk, April 2).-A!oncy on call steady
y-ts; ruling rate, 10: closing. li3GlS.
oDPoitns. weaker; sixty days as.Sis. ninety
81 six months 3ia. Sterling exchange.
Fioy al $3.50 for sixty days au. a. HS;5,o
&n' demand commercinl bills. siSi,:. Rar