Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1914-12-15
SMALL BUYING PANIC
SEEN IN WALL STREET
Activity on Floor OF Exchange
Carries Prices Upwards by
Leaps and Bounds.
clearinghouse Is Swamped, and Ii
Is Decided to Transfer Trading in
All Stocks to- Floor-Amnlgamatc ed
Copper Leads Advance.
nN KKn:nAN wAII

NEW YORK. December l'.-Thcrc was a
in Wall street to-day, Three armies made
q tunoiur'--ihosc with money and without
the expectation OF rehuying 'hen' at lower
prices; and the bears who We're caueh, short
their commitments The combined buying
quotations that carried prices mp 10y leaps
and bounds.
Ing house absolutely swanred tho facii-
tiles. and caused u hasty meeting OF the
fer trading in all stocks TO the floor OF the
exchange to-noTrow. AS suggested in this
mated copper. Less than two months ago
unsuccessful efforts were made to sell u
ana. although the dividend rate has been e.;
reduced from per cent to per cent
at b. rise .. aSso 'ii y points s"i from The
low OF October, ana a gain OF points for
!, is estimated there is an open short
interest ~ steel common Of some 2l)V"
cover shorts and the price was advanced ny
The clearins house from j?ia - 50 bid amid
urday. closed to-day 10 81 bid. ana IL
asked. Delaware and HUDSON closed a. bid.
Tnrh M No. T rSr 80; CahaHIn GA.
Trading on the floor was active, and a,i-
Nances ran in many cases from TO ) points.
low priced issues Missouri Kansas ana
TeNas, common. gained points. and In
peciat,oms o: an early dissolution OF the
voting trust Corn Products common was
promising.
Bonds We're active. convertible issues show
OF an increase in i!etGht rates. Seaboard
AIR Ling adjustments y sold "a, ,@i. 1t is
le paid ON February l. Missouri Pacific col
ISstieral trus; 5 made a further gain to iii..
Give US maximum prices at which we can
u "a ls cor, rtlf h1c h.,a,
SHOWN those who We're short OF stocks when
lne SNshanss closed In iu!E They were
curb and in some cases where purchases
MsrS made through Outside ohnnne.s a.
the stock Exchange authorities would no,
aMow ihe shares TO lie returned to the brokers
locke very large when stocks were low in
,he outside market have in many cases
sahGes ana this short position stiI re-
mains open
NEW YORK: pecemhcr. 1.-THE unaual lifted
open stock dealings caused Stock Exchange
authorities to decide TO restore nii shares
T., u, The lis, to-morr9w. The issues thus placed
u"n"iS AS Great NORTHERN: southern Pacific.
Baltimore ana Ohio. as we'll AS other is.
sues ot speculative Importance.
fear OF foreign liquidation Was at an end
IL removed virtually all restrictions in force
since July y. except those which apply to
prices These VIII bc continued as necessary
safeguards against concerted or professional
selling
From start TO finish o-day's movement
was upward. Especial GCtivity In coppcrs
was nscrtbed To Il variety OF causes. lnciud-
ing better trade prospects their relatively
low prices ana their speculative position
Long before IL became known that the
Ian Was 10 be lifted from the international
list those shares moved up from . TO 1
POINTS over saturday. So far as Il was pos
s!hie - judge from surface conditions. Eu.
rope WAS III ~" sense a factor In the days
Routine rows was in Keeping with tho
movement OF stocks, The financial commune
ny again was encouraged by unofficial ad
freight rates
German exchange again was heavy. mark.
lh'iinS to 1914. as against ?3 the middle
OF last week. Bills on london were "A frac
|ton lower. ~
MN YORK, December H-Closiny: Mer
camille paper. AZ. Sterling exchange steady.
slNtE,uAy biiis SA.o; for cables. siS35S:
'or uemand SiN!" Bar silver. iaTS. Mexi.
can collars. 3si4. Government bonds steady
railroad bonds. steady. Time loans stendy