The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-07-26
i.9AIARKET IS DOMINATED
BY FOREIGN AFFAIRS
Developments in This Country Lost
Sight OF in Agitation Over
Austria and Servia.
WHOLE LIST SHOWS WEAKNESS
Continent Sells Heavily in London,
Losses Ranging From I to 3
Points-Berlin and Paris Flat
With Heavy Falls.
Lspecial to The Times Dispatch. J

New York, July 25.-Foreign politi-
cal developments were again to-day
almost entirely in control OF the
movements in tho stock market. De-
velopmcnts here at home were lost
SIGHT Of in consideration OF the grave
situation in Eastern Europe, resulting
from Austrias ultimatum TO Servia,
which carries with il the possibility
OF general European war. All Eu-
ropean markets were heavy. London
and the Continental bourses declined
sharply. The weakness abroad ma
turally influenced the movements OF
securities here at the outset. but IL
was a matter of favorable comment
that the declines here were much less
than those sustained on the other side,
and that after the first hurry prices
displayed tendency TO rally and re-
cover the early losses
The Continent sold heavily in Lon
don, losses running from TO points.
British consols alone lost more than
a pound and a half sterling, carrying
the price within . points of the low
level OF the year. All international
shares were under heavy pressure.
Americans lost from ] l-2 to points.
United States steel was down about
a point. and Amalgamated Copper was
of points.
Both Berlin and Paris were nat with
heavy falls in prices of international
and government issues
Initial losses ranged from point
each In the Hartman Pacific TO 2'l-2
points In Canadian-Pacifc. United
states Steel opened $500 shares at
IS S-i 70 80. off rs TO SIS. Reading
was unusually firm, and was practical
" unchanged. as was true of New
York Central and New Haven. Balu-
more and Ohio reacted slightly North
ern Pacific was the only share TO open
below the London level. going as low
as 100. The list rallied almost i'm
med!aiely. and the initial losses were
partially recovered.
Prices were firm in the late fore
noon trading. and the tone of the
whole market was distinctly better.
Reading stood out as strong feature,
while United states Steel recovered en-
tirely its early loss. Much of the buy
ing was attributed 10 the short COW
ering OH runors that Serria had ac-
cepted Austrias terms.
New YORK July c5-War Clouds overshad-
owed the leading markets Of the world to-
day The seryan crisis precipiiated panieky
Absolute Decentralization prevailed at tho
French capital. with similar 4 not worse
G hondSn. depfe:sed ieve, a, il. close va.
responsible for the extreme heayiness OF
Northern Pacific while many Of The other
decline was accompanied by a greater de-
gree o! activity than on any previous day
-dWay in the session vigorous support
was extended, aud the market rallied all
around, some of the important shares clos
ing With substantial. net gains on more en-
couraginE cables.
Mercantile trade reports presented the
usual MIXED aspects. with increased opt!-
gn.sm respecting the fan outlook.
Bonds were heavy IN keepins With the
IS gained II: per cent, and Panama coupon
SIS !: per cent on call, while Panama regis
tered Is declined u.
New York. July .5.-Cail money nominal;
no transactions. Time loans strong; sixty
days .;.G2, ninety days. 81 QSic: six months.
idi., Mercantile paper, 4,ih5 sterling ex-
change hrm; s!Nty-day bills. $3.50 for de-
nsnG. StSs!5. Commercial bills si.S@. Bar
silver, ;3i,. Mexican dollars. @9. Govern
rttn. honGs Strong. railroad bonds heavy.