Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-03
WAR STOCK SPECULATION
BECOMES LESS ERRAT|C
Transactions Featured With Several
New High Prices, Despite Cur
tailment OF Dealings.
INITIAL PRICES IRREGULAR
In Late Forenoon Copper Shares
Jump Into Prominencc-Railro
Also Become Favorites, With Union
Pacific and Reading in Demand.
Especial 10 The Times Dispatch.

lSDcClal 70 Inc llmeS- DISPATCH
NEW YORK. August with less
erratic speculation in The war stocks
and a better tone in the railroads as
we'll s the copper shares. the stock
market had another session of i'm
provement to-day. Transactions were
featured with several new high prices
in the war stocks, Notwithstanding the
Curta!lmcnt OF dealings in that group.
Initial prices showed irrcEularity, but
with most OF the war stocks excepting
Cructble Steel, which opened with
loss OF ! ii points, showing gains.
The falling off in the speculative ardor
for the war stocks was apparent in
tho nrst fifteen minutes of dealings.
III the late forenoon the copper shares
jumped into prominence under leader
snip OF Anaconda. SHELTERS and In
SEPARATION.
In tho carly afternoon the railroad
shares became :avorites. with Union
Pacific and Reading in active demand.
The market displayed strong tone
throughout the afternoon. and closing
prices were only slight under the best,
due to proft-takinr.
Eastern railroads continue TO make
ing tina, the corner has been turned
and that they are rcaping the benefit
o: the increased rates granted by the
Interstate Commerce Commission. The
Eastern and Western Pennsylvania
lines to-day reported an increase in
gross for June of s6$l.S4o. and a gain
current again that the commissions
decision IN the Western rate case would
he favorable
Oh of IS per cent in Oklahoma resulted
in strength for the oil shares Cali
forn!a Petroleum and Mexican Pc
t.oleum being in demand throughout
the session The common stock OF the
former rose points. but reacted 1
point in the late afternoon, and the
preferred rose points. closing at the
top figures. Mexican Petroleum rose
about points.
Recent hcaviness OF Southern Rail-
way was explained when the statement
Of earnings for the twelve months was
made public to-day showing a CON
traction in gross Of $S.55i.4S7 and a
oeTrease in net of S2,a65,549.
:, Eau nGHin n, c snIm stocks were
Steel Springs advancing nearly
points
eccentric .perfor,natc.s o: tho market last
week, week with its furious speculation in fcw
stability NJ ;hN high prices TO which they
We're elevated traders worc in doubt a, the
buying Of war stocks fen OF. and The amount
vi =! orders re, aeGrumulatins over tho week end
itia! tcndenc" was TO take profits when OBJ
noriunity offHrct. and the rather quiet open
Ing was marked by small changes
Tn" list grew stronger as il became IN
Parent that The war shares holding
any quarter. Trading was no longer cor
"cn'rated In group OF favorites but aX.
panHe" TO ali classes OF stocks \ co,npre-
nenS!ye rise followed, continuing through
..e cay WITH no severe setback. Tho war
stocEs made good gains, rs did corpers.
'erti!i!crs' OIL shares and other industrials
IN the railroad division there was n hroaG
ana substantial upturn. which was regarded
~ traders committed 20 the long side rs
or" OF the most encouraging dcvelopmcnte
az the day. Further trade report, Of a m
Ho;:!n!t nature contributed to the markers
"L.cHc'A. railroad stocks benefited from in
crossing business. VOL as from, the GOOD
showing OF June returns 90"
ne copper shares were eNccp,ionally stranr
af,u active Although no Tuntablc change
occurred in tho rates 70, copper metal ihnIo
"c!s reports that further shading OF
1uCcrS. " - P!o-
speculative bonds moved irregularIv There
was a further substantial advnrc" in Tho
corners and Westinghouse Electric CON, or.
w" Issues. The market showed some sen
A"Neness TO liquidation from abroad
NEW YORK, August 2-Mrrcan,il. r,ns-
80 sterling s!Niy.day bills Al. dcmnnd'
L,h;V r'in!@s i.'ns5, bar silver, ~: domnni
collars; od1S: government bonds stcndy: rail
1850 bonds, Irregular. Time Loans firm.
S.S!E GAYS =. ninety DAYS "Las: six
!n,n'"s' "''f''s Call money steady. ruling