The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-07-02
QUOTATIONS. SAC AFTER
PROMISE OF STRENGTH
Stock Market is Disappointment
Finally Ieaping Into En-
treme Dizziness.
CHEERFUL FEELING ABROAD
Report That I. c. {. VIII Announce
Decision in Rate Case on Next
Wednesday Acts as Restraint on
Trading.
ny pRoADAN WALL,

New York, July 1.-To-daX's Stock
an early promise OF strength. the mar
let leaped into extreme dullncss and
quotations sagged.
London prices were lower and for
eiRn houses sold moderately. 4 cheer
full feeling was noted abroad. and mar
kets there We're firm, but this sentl-
ment did not include our securities.
Reports from Washington that the
Interstate Commerce CommiSS ion plan
ned TO announce decision on We'd
nesday neMi' acted as a restraint on
at tn. weekend. little disposition was
shown 10 open fresh commitments. The
public IS doing nothing.
Reports from the grain regions con
tinue TO be highly favorable. and the
government cotton estimate was CON
sideIed "eassuring, although the gen
eral condition is still the lowest in
years. The new fiscal year has opened
without any untoward developments
in the money market. Time rates were
TO the government OF more than $4,000
900 on the day, foreshndowed an un-
fayor9hie bank statement on Eriday.,
w lille brokers were watching the
tape for an announcement that Gin
cina,i, Hamilton and Dayton had
court. Ex-Governor Harmon announced
that he was the receiver and still
legally IN office. although the. road had
since 1909. a receiver for n receiver.
would be a novelty for Wall Street.
Regulation upon regulation appears
10 be the motto of the |. G. c. An
order has just been issued ordering
every steam railroad in the United
states to make an Inventory of ma
Der Conducting transportation is
now but minor function of railroad
Southern Pacific sold up to % Ia.
but declined u full point in the late
dealings. Steel moved sluggishly. fall
ing 10 20 St. The market in Union
Pacific WAS extremely narrow, and the
price swung with the general list. New
Haven was weak, falling from 90 =
Brooklyn Rapid Transit was strong.
The conversion privilege on the bonds
Expired last night, and the price OF
the stock is expected To improve ma
tcrianY.
Bonds were senerally quiet and firm
at &C -, a new low. Rock Island is
sues Were. active and easier
Railroad earnings made a poor show
s7lioCc in net Tor May: New York cen
trail earnings fell si.lo0.000 gross and
S2,3cO 600 net
Price movements arc still too narrow
TO offer encouragement 10 the trader
y well known floor operator took n
$4,000 loss on the short side OF Steel
10 judge his own market. Now, if he
had bought first instead of selling
but that would he another story.
New York July Special Influences
again KEEP; the stock market within mar
rcw and Irregular groove to-day Among
these were encouraging adviccs concerning
corn ana the government cotton report.
New York Central reported u net decrease
of $..%jtoVl In May earnings tho Pennsy-
Nania limos lost more than 100000. and
Rock Islands operating income fell of
SIfJ.rJo. New York Central the weakest
q: the stocks in its class aud New Haven
declined IL within fraction OF it's low
record.
The Ulster sitpation contributed to the
heavy uudr'toue here London disposed OF
several thousand shares here mainly steel.
Ainaigamated Copper ana Union Pacific.
Further large cash transfers To the Pacific
Coast were made. Local money rates were
und!sturbed.
Railroad bonds we're Irregular. Frisco re-
funding Is and Chicago and Eastern Illinois
retundinS l.. upon which interest was de-
iauIted, advanced one .tud four and one half
points. respectively Mexican government
Is declined "a. United states government
bonds We're unchanged cnil
New York. July Call money firm and
hjShe"; ruling -ate. :: closing. .I2t.. Time
loans nrmer; siNtv days. d!. ninety days
- six months. 3i2pl. Mercantile paper
S-4nf Sterling exchange steady. SIXTY days
s+.Si.5; dcmand. SI.>15. Commercial bills
siSji.. Bar silver, liS,. Mexican dollars. a.
Government bonds steady. Railroad bonds
Irregular