The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-21
GREAT COMPLIMENT
PAID TO PRESIDENT
Stock Exchange Members Sus-
pend Trading to Carefully
Read His Message.
DOCUMENT OF A STATESMAN
Assurances That Railroads Will
Be Granted Right to
Increase Rates.
BY BRoADAN WALL.

New York January co.-Stock Exchange
member. paid tho President and unusual
compliment to-day by practically suspcnding
all trading while they carefully read his ad-
dress TO Congress on the trust question. and
read 4, they did. from start to finish.
Ii is an unusual document that can hold
The attention OF a stock broker FOR five
secutivc minutes between 10 ana o'clock
n business day.
sound conservative. business like and the
document OF statesman was the synopsis
81 MALL street opinion.
I'o-day's stock market closed strong with
shorts cndeavoring to cover stocks put out
tho theory that prices had discounted n
massage And. anyhow traders want
lions, although recent efforts Ia bring about
scthucks In prices should convince that the
banking interests behind the market do not
propose to permit wide fluctuations.
There Is strength and consistency TO
prices that Is not appreciated by brokers
whose memory does not run back beyond the
1917 panic. Bankers to-day have money
market which is broad enough to enable
and this happy condition Is not TO be upset
What looked like a revival OF foreign in
forest in our stocks was stopped by rumors
uf the Illness of Emperor William. These
stories checked buying and curtailed interest
in dealings.
steel common was 'pcgEed" at 81. Union
l'acnc closed at the top, l5a, and southern
Pacific gained point by rising 10 81. The
market for this stock had been cleaned up.
and further advance is probable. ST. Paul
WAS strong. running from 1923. 10 loi. Cana
tian Pacific lost point, but this was due
10 foreign selling.
Show Renewed Activity.
OH stocks showed renewed activity and
sirensth: Mexican Petroleum gained ~:
California issues over points each. Several
Specirliies were active. Federal Mining and
smelling -. TO 80.
Something is brewing in tho copper situa-
ton and the shares We're again in good de-
1nInd. AmalEamatcd selling UP 10 1872 and
Utah Ia ~ There were rumors that large
order for the metal has recently been placed
with producers. Western Union rose smartly
from % TO g.
Washington reports Indicate that the In
that future railroad equipment bc Of the all
steel variety. THIS should insure the pros
pnrity NJ car builders for the next two years
~ least. Pressed Steel Car rose TO 80 ana
the preferred gain over points. closing at
Bonds continue in good demane. Dealings
IN the New York state ii.s when issued"
were active. selling ny Ia ioGis. Tho success
OF this Issue, which will to offered to tho
public to- morrow, Is expected TO have a
iavora bic influence on all hiEh-Grade invest
mfnts
Gold TO the amount of $1,000 COS wa. en-
easod for shipment % Paris. With call
money renewing at per cent and in abund-
ani supply and time funds showing relaxing
tendencies. exports or the yellow metal are
Without elect on security prices.
Assurances have been received in the flnan-
Clal district that the railroads will 10 grant
ed tho right 20 increase freight rates. When
this j. an established fact tho foundations
WI pc hrinIy iald Ior a spring rise in Sc
records Tor activity and strength.
Sew York. January 2o-Money on cali
sleadE at i7.n-, ruling rate, ., closing, la.lta
Time loans. soft; sixty days. .. ninety days
aan54,. SIS months. iffii.. Prime mercantile
llaper. AHT5. sterling exchange steady at
- e1'5H S''' FOR sixty day bills ANA at $+.S6.5
for deuand Commercial bills. N.S@i. Bar
silver. big Mexican dollars 80. Govcrnmcn;
u'uus arm, railroad bonds firm.