The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-07-15
!. c. c. NEW HAVEN REPORT
ALREADY DISCOUNTED
From Professional Point OF View,
Arrangement Is Merely Mat
ter OF History.
STOCK is LIKE RUBBER BALI.
Foreign Selling Appears in Volume
ut Opening and Lasts Intermit-
tcntly all Day-Banks Asking
Higher Rates ON Time Funds.
ny BROADAN WALL.


BY BROADAN WALL.
Now York, July l4.-To-day's :toclS
market hung on the expectation OF
decision or The Union Pacific scSreSa-
tion. and Wall street went home disap.
pointed. The news on this important
subject not appearing until after the
close. Union Pacinc won.
New Haven bounced around like a
rubber ball. rising to % SIS. droppinS
10 81 IL. a new low nSure. and re.
bounding TO -. From the professional
point, Of view; the J. G, C. report irr,o is
discounted Perhaps too many traders
werc short Nothing ever happers 20
railroad directors. and there Is httic
expectation that precedent VIII he al
tered in this case Security holders
pay all the losses. and no mistakes are
Foreign si selling appeared In volume
a. the OPENING and Lasted intcrmit-
tently all day. transactions totaling
some 10000 shares with the oulk oi
the dealings in Canadian Pacific: Steel
common and Amaigamated Copper.
At London there was selling pressure
from the Continent and from New
York.
short covering provided most OF the
buying, and support OF this nature is
not usually OF a permanent character
Union Pacific. the low point Of 1873 S.
nj the opening. rose TO l55 IL ut the
close.
Baltimore and Ohio was affected ad-
NclSsIN, GlopDllE W SO -, uut ieNcN
crlng a point later. Canadian Pacinc
showed better resistance. with fairly
good demand around lS6.
The tail sometimes appears TO wag
the dog Central Leather was the first
stock 40 advance, rising from 30 l-2
to - on aggressive buying by shear
son. llammtll " Go. THIS stock is n
speculative faVoritc.
why traders should 80 short of q
stock selling around 10. will always be
n mystery to many. Missouri Pacific
O.1rlN with tho
noo T i tr r" RS SLIDING against each
other. California Petroleum rose near
gusher had been opened: Analagamatc'i
copper recovered. although foreign
houses were sellers on every is ad =
Coal stocks rose easily. Lehieh VAL
10y gaining points and Reading |.
Steel moved up a point. absorbing all
offended to the bond market. New
York. Westchcster and Eoston 4 IS
gained points. Missouri Pacific is
sues from TO > points and Western
ing - were heavy.
Rains i'm the Ohio Valley bcneftinG
growing corn was the favorable fea-
ture of the government weather re-
port Reports from the other sections
were favorable. with the exception OF
cotton fields I'm Texas and Oklah iona
period. banks We're asking higher
rates for time funds Local banks
have lost some s+o,o00.o00 10 the gov
orumcnt since Friday.
Wiihou, co-operation from banker:
and in the absence OF market leaders
profe sstonal traders were takin. iheii
until this movement ceases. nothing
moro than 4 traders rally is expected
The. iavorahl" decision from tn.
Union racihc's extra distribution
should have q steady influence. Tn,
undertonc, however. Of the market i!
far from cheerful.
New York July 1.-THE movement, q
stock. was Irregular to-day. but the under
zone i0 the season issues was nrm Severa
IN the case OF New Haven. which fell to
~ ,os. The denGn:,a,ion Of rs the for me
\Sw HaNeu mauarcmen, 10y the Interstat,
,he minds Of the nnGnci@l comm Pli i''ys ant
a.ttA a dettrrent in Investment circles
l1 addition 20 New Haven. lower price
Nere er.siel,d 10y Canadian pschc, II
wai,h tho previous days liquidation wa
-lau-ut- AGAINST Ncv York Central. Rilti
more and Ohio and other issues OF the sam,
,.'s,' nlt sHpport was i"Iar!"b!y fohowe'
cause "t he preceding weeks uusett!cmcnt
Wc-e relatively strong.
some % INC ,uauipuiauvc srccial issues
- CaAiorni" Petroleum common and pre-
erred aud Central Leather made subsian
was Negligible. Reduced dividends result
he de.dr s0 OF he rac TfFs ts -. CON n
pany con- The second preferred-ant" the com
mon stocks.
London sold a considerable amoun, o
the "tuYe issues here, but part Of N
.".i"t Wa believed 70 have IT, origin Il
'tis centre. Adv.rcs from several importan
trade centres reporting curtlilucnt OF opcr
.tlons We're ncu.rnllzcd by word a, n
White House predicting ara early husiues
huou iu tho Middle Nest.
h.n1s dealigFf covered 4" wide range VII;
bonds We're unchanged on call
%ev York July 4-Mercau,ilc papc- s.,d
-. sterling easy: sixty days <iS3l. dc
lue"d. $.Stoj. CoiuWercial bills HSis, asa y
Ba- silver. 1l. Mexican dollars. ~ COY
.rnmeui bonds steady. railroad bond
irrtru.ar. CAL money steady. .ae5, ruliu
iate- "a. closing. :02a, Time loans stronger
siNiE days .,-rineiy days 3. SiN months.