The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-02-27
STOCKS CARRIED
TONEW LOW LEVELS
Early Prices in Market Are
Heavy, and There Is Much
Foreign Selling.
BONDS ACTIVE AND STEADY
Unusually Large Dealings in
New York Railway
Adjustment SIS.
BY BRoApAN WALL.

New York. February 26.-lmprovonent in
the financial situation at Paris ana sub
stantnl advance in British consois brought
"a cheerful feeling et London Th!. war re
nected by purchases OF the international
stocks here Early prices were heavy and
for tho first half hour foreign selling car
r!ed stocks TO new low levels; , "a
prices hardened with strength in the low
priced Issues Rock Island ehares have ap-
parently reached the bottom FOR the time
bcinE-in fact. tho stocks appear overscit.
and further raliy is expected. The pre-
ro-day's recovery well over A point In
Buchanan may not know tho difference
between a plowshare and threshing ma
chine. but he is conceded a good judge OF
market movements. Taking The Rnmely
The common from IS to IL and the preferred
steel common. after selling at esn. ut tho
opening. in good demand at StSs at the
close, ana is expected TO recover the guar
Union Pacific sells eN-dividend on Monday.
and traders who were short covered, while
= few took the long side In hopes OF better
prices. Canadian Pacific ana southern Pa,
stocks showed the smartest rallies. Den
yer common and penver preferred showed
gains of two and three points. Waeashcs
We're stronger aid Missouri Pacific iirmer
on tho rnhlicaton OF an optimistic inter
and Texas, that sold below lG in London.
was firm here at In
London cables indicate that most OF the
selling in American stocks came from New
York, and thc opinion prevails that efforts
were made To eXnEEerate the low prices for
the purpose of depressing quotations here.
The runors OF trouble IN Paris are also
being overworkcd by stock market bears.
Baldwin Locomotive from 42% TO 45
on the report that the company VIII show
% handsome increase IN net earnings in the
annual report Copper stocks were just
barely steady. and Northern Pacific broke
point rumcrs of fresh financing. For
some time this stock has acted badly.
Bonds were active ana steady with i'm
usually large dealings in New York Railway
Adjustment 6e. and although the price nuc-
t;tated between u and g. The closing was
linorts OF the Third Avenue Railway to
The announcement that Erie had sold SIS
5eeeoo s.. per cent three-yea; notes TO retire
other ban. loans, was without market eff
feet,
January earnings of Union Pacific showed
:; loss OF $4,000 in gross but only $4,000 in
ret Southern Pacihe lost sSio'coo gross and
stocks acted we'll today. Prices recovered
easily, and brokers went home with the Inn
u anything, improved the speculative posi-
ton.
New York February 26-The aggressive
bear party which took eon;rC; Of the stock
the opening today. There MAS heavy sell
ins bur the decline was small and OF short
ihe lower level. and the downward M move.
ment was checked. shorts unable to bring
prices rose frac,iomaily above yesterday's
close. There the movement ended For
cign selling WAS less of an influence than
on the preceding day. although London
continued TO dispose of stocks here Dem
Yer and Rio GranGc and Rock Island shares
made gooG gains, and the declines in Mis-
souri, Pacific and the Wabash ana Mis-
souri, Kansas and TeXas stocks were halted.
Long operators made no attempt to force
zap the market Possibility OF shift In
The Mexican situation made traders reluc-
rant January figures Of the Hartman lines
were in line with reports of other railroads
indicating general falling or In gross
earnings Union Paciilc's gross decreased
t527.ocy. but the net shrinkase was held 10
$500 by means OF contraction in operat-
ing expenses. southern Pacinc's gross
creased $4,000 and its net nearly as much
Bouds steady. United States bonds
were unchanged on CALI
New York FeWuef7 .5.-Call money
steady, ls.p2. ruling rate. rs; closing. IJ.@2
Time loans firm; sixty days, 80; ninety days,
.; six months, 3i2Q3s4 Mercantile paper.
J9tGiia, sterling exchange steady; sixty
days <sSIJ; demand. sis5go. Commercial
bills. .s3. Bar silver. 57is Mexican dollars
*. Government bonds steady Railroad