The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-30
MARKET is HEAVY
AND WEAK IN SPOTS
Downward Movement Being
Overdonc by Short Sales OF
Professional Operators.
BIG IMPROVEMENT ABROAD
Failure to Respond Is Matter of
Considerable Astonishmcnt
TO Bankers.
by BROADAN WALL.

New York. January ae-Prices have de-
cned for week. and tho downward move
ment lie now being overdone by the short
sales of professional operators.
ro-day's market heavs. and in spots
weak. stop loss orders IN the standard ie-
With reduction of per cent In the Eng
INC French foreign nGrke; showed buoy
oncy, rcnec;ed by an advance in consols to
lu.ly prices In London were nearly point
above our close. and foreign houses We're
heavy buyers OF stocks taking some $4,000
fhe fac, that our rnarlse, failed to respond
20 the Improvement abroad was a matter OF
considerable astonsliment to bankers.
Rumors were current n the close tha:.
prices have been deliberately attacked b.,
Clique OF operators who were without stocks.
and took this means OF accommodating fresn
line OF securities.
aroash; run X on. q the stronesst OF tno
no; the sfishte., fear in banking circles
'hat al demands OF depositors would BIO
press prices
As torecasted days ago. Pressed steel Car
per cent basic In view OF the large earn
inss the heavy accumulation Of caeh and
;hs action was considered conservative. the
common sheres rose 20 ;st2 with net gain
broadening Inquiry.
Inere Is broadening inqnirg FOR ne IN
now paying per cent. Win an sccumuiat
az back dividends after about - per cent Is
considered attractive. II is understood that
q plan Is foot to retire the preferred
Stock and settle the back dividend by the
issue OF per cent bond. This would un-
doubtcGly make the common promising.
Rumcly issues slumpcd bndly, the prefer
red losing 6As. the common 81. There is lit
tie announcements for tho stockholders In
th!s company.
Union Pacific was strong around l6l. South
crn Pacific slumpeu badly, dropping from
9Si. 10 96is. London brokers b!d the price up
10 % Mt the close The stock again looks
cheap.
copper. stocks failed 10 decline with the
rest Of the list Anaconda and Utah gained
frsctionaly thanks to European purchas-
lcum losing : points ana Mexican Petroleum
10. New York Central slid off easily. and
81. Paul dropped moro than point. Wabash
preferred fell off points on the announce
mcnt that reorganization plans would soon
le made public. This, OF course. includes
heavy assessment both stocks.
Although the market ignored the para
mount news OF the day, tn" reduction In the
french Bank rate and the lowering of the
English rate. Il will undoubtedly s;imuIat / @
Elected by Il renewal OF the advance In our
market
Locally the situation has been strengthened
by the stopping out of small bulls and tho
opening OF vulnerable short account that
l. good feature in a healthy market.
New York. January cs.-Money on call
steady nt lteH2; ruling rate l'S: closing, liz q!
rs. Time loans, easier. sixty days. -. .
ninety days. $ISi.. six months. 3s.pi Prime
sasy at s'.s355 for sixty day bills ana at
l4s5eo Tor demand Commercial bills SisS2.
iior silver, 5Ii.; Mexican dollars IS Gov
'rnmeni bonds firm: railroad bonds irrcgu-