Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1914-12-18
SPECULATION LACKING,
STOCK MARKET sTAGNANT
No Increase In Business Can BE EN-.
pected Until Steam Accommodates
Behind Public Demand.
FLOOR TRADERS HANDICAPPED
Additional Tax Recently Imposed
Makes Them Chary of Leading
Procession or Heading Retreat.
All Activity Under Scrutiny.
ny RRnADAN WALL.

NEW YORK. December 1.-THE STOCK
market Is stagnant. Speculative activity
Is drawn either by the old fashioned loco
motive, public interest the modern mo
tor the electric tractor OF manipulation.
outside buying rarely follows a dull or
declining market. and until steam has ac-
cumulated behind public demand no Increase
in business can be expected. Manipulation
gets ;s power from the third rail OF bank
ms interests and the current has been
turned OF for the time being. In fact.
all activity on the door Of the exchange is
under careful scrutiny. and every effort Is
being made to proceed with due regard
Tor safety first"
Runor had 1t that Stock Exchange OF
;icisls were taking unusual means 10 IN,
sure normal conditions IN speculation until
who ordinarily wo;ild lead n procession "
head a retreat, are handicapped by the ni
d;,ionGi tax recently imposed Il! HE led
i ;hink STEEL win go down. said trade
i i,SS ana ); tor Clearance viii sci! q?
s9or ou, %hGPi SssnGa n ,n "ff ad
trader brings wide variations In prices;
and '''G TOPPED PED poin, ON the turnover ot
90, shares. Trading was exceedingly lin
when no prices were recorded. Central
leather led N point Of ncuv.ty ana ,n 40, a.
Directors viii NEE; next week to act on
the dividend. and ono member o, the board
able 10 nut The stock I per cent basis.
he expected tina, per cent rate would he
the movement. and the activity was decid-
eddy or, OF proportion Cor ;he day.s bust
TO the new high figure Of >lL4 Trade re
norris OF ,his industry are decidedly op,i-
International issues were dull and slightly
heavy. but the volume OF business was too
Louisville and Nashville unchanged a,
~ I've ra =
Wall stree; IS In a curious frame OF mind
no; considered bearirh factors.
Stock Exchange cir"tes were interested
would favor tho abolition OF the State tax,
OF g. per i" stock sales. This Is almost
Bonds we're dull and heavy in spots The
arrival OF European mail was respon-
,ional issues When these bonds we're dis
posed o: the market steadied, the close being
con IS were heavy. dropping TO !Iois. Cop
per bonds were not strong
NEW YORK. December l,.-s,ocks cor
tinued 10 drop to-day \ smaller volume
iy :or the sho-, account and when that de-
mard was satisfied. the list drifted idly
towards lower quotations The sienihcenee
from The ;ac' ina, a relatively inc.enspieu.
lrresulari,y charac,erized the opening
yoked fresh selling of the in,ernati"nal
list. IL took only IA few thousand shares to
reverse the rising movement ana send the
average under yesterdays close. Numerous
additions were made 10 the group OF stocks
selling a; minimum prices. Final quota
tions We're At or near tho low level OF the
day.
Little encouragement was derived from
routine news which Included reductions In
Louisville and Nashville AMI the Atlantic
Coast Line dividends from 10 per cent.
and the southern Pacific statement for No
tembcr. showing a net loss of almost sS", =
The sovernmen; crop repor, also was far
from favorable in its forecast OF winter
wheat which was per cent under the ten
Years average
Exchange on Germany was lover. and
dency Reduction in France was ascr!hcd to
the further extension Of the French mora
tc-iurn
Preparations for the loanlng OF money by
me So. ~" cotton pool we-c finally com
p!e;ed. local nnnuc!a! INSTITUTIONS. CON
tributins che!r quota OF 10000 Call money
was. offered at Pc cent. but dime loans
hardened fraction FOR long dates
Apar, from gain in gold, the weekly
i."naon's markets reflected IN mild degree
The alarm caused ~ the recent lombard
men, ~ British coas, towns.
Bonds again were irregular. with contrary
movements in some 9th" speculative is
United states government, bonds we're IN
changed on call
sew YORK. December Closing Mer
s,aad% aaTt Iii. :ss. ..s S<enanss
..sTsi tor demand. - So. Bar silver. ssiy
Mexican dollars. 3d.. Government bonds
steady; railroad houds lrr"guiu- Tin.
loans dull SiAty ihy. :. ninety dayse "a