Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-10-07
SHARP BREAK IN MARKET
IN WAR STOCK ISSUES
House Cleaning Unsettles General
List, Causing Declines as
High as 1879 Points.
INITIAL PRICES ARE IRREGULAR
Standard Rails and Industrials Dis
play Relatively Strong Tone
Throughout Smash Bethlehem
Steel Continues Onward.
ny BRo,DAN WALL.

NEW YORK. October s-Another house
,bnrn Sreok in those issues 10 day. which.
for short time. unsettled the general l,s''
hu, the standard rails and industri"ls dis.
played relatively strong tone throush9n'
the smash ~ ono tim" the eNtrcm" ~.
lines IN the M Tnr Si"SE ran6 6Top Seinr in
ine orders that accumulsted In the com
m,i,>!or houses before the opening onsr, n"
,ompulsory sollirr TO a degree 80 ;N. Nc
snnn,s Of 'rahins SO ,ha a., i aftcen MIN
utcs. strong tone developed and p,lg,S
moved ur. hu; The bulge mt me sunny
ir,o iis:avor 10y the commission houses OWING
to the action Of tho banks IN asking MT od
.harply. with Crucible steel the leader,
in a drop o. nearly 10 points or,c, r.coy-
cry. hut. after some hesitation. the market
had another Weakening spell in IN" ai,er
verse than In tho forenoon. The downward
movement was accelerated ny the e"count-
,Jha could ot hot pm, mp addtuonaI margin
and those who wanted 10 save At Least som"
~ their I,aps; profits Notwithstanding tn"
pronounced Weakness "i lh" war prizes
the rails am r"ppsrs nspiAEs. s' rr
'Hderi"ry S'ygi was aiSr ts'" ,,oir,, ,n,.
vithstndinr the large blocks that cam"
unto the market In the last nall NOR mere
vas rally. which ranged from to
:n,eres, in The eonpers is incr,astins; s ss,
shares were IN demand on al rec-ssions:
Inspiration IS expected to be the leader %
mi; group. The property IS expected TO be
in operation at iull capacity In December.
and tho payment, of dividends Is expected
cordnr 20 people familiar with tho COM
psny's plans. Ray Consolidated is also be- Il
ms picked ur quietly on e,xrectation OF
,ro are advising customers 10 buy tho cop
pcrs are inclined TO favor the convertible
honds Of these companies for people who
want to invest FOR income. as well as profit.
10 h,.r pgl On n
Teak lid a. ,hlahe,n COMMON show more
Nicw high record of ioi was accomplished on
order for more han 1000 shares which
There urgent buying 81 New Haven
III the afternoon tina, advanced Il sharply.
NEW YORK. October 6-scvcral important
factors CONSTITUTED substantially TO the
among these was the policy Of conservatism
adopted by the stock Exchange against
hs c ,rH Ma IN W9f
portions fully as larE" as tho buying which
attended the recent rise. ny their opening
quotations. stocks gave promise OF what
was TO follow. During tho morning at
temH's Nere made To bolster tho list by in
efforts proved abortivc. because If the case
With which spec!alties Welded under per
siStent pressure.
day and in the final hour. according to
h"Hrf room GOSSIP many marEined ao-
paper profits" sold out. 1t is sig
niiictnt az the speculative situation ar Il
whole that much or to-day's luQidatIon
'amc from commission or wire houses
Rallies of &c to Is points were recorded
Just before gthe CLOSE hu; the markets an
deltone Continued fevcrishly weak. Total
sales of 10000 shares. compared with the
most active sessions OF the previous week,
when prices were on an ascending scale.
Among tho extreme losses OF the session
we're Crl.ciD!e steel, lT.: Baldwin Loco
motive, y. General Motors, 10: Wcsting
house. :, American Car. :; Pressed steel
car :: New York Air Brake. Gis: colorado
Fuel. TO 5hi2. and Continental Can ~.
bethlehem steel rose 20 the now high rec
ord OF iol. ard closed al that figure n ne,
gain Of ioA. points. The preferred stock
Bonds followed the course OF stocks. Au;
Copper convertible issues were again strong
Total sales. par value, aggregated S!i.l ~,
United states bonds wci" unchanged on
new YonK. October s-Mcrcan,ile pm
r"r a ~. Sterling. sixty day bills si6taG;
'9r dtn ,sl s.5"s5 for yahles. s.7os5 na~
ment bonds steady; railroad bonds ir.
regular. Tine loans hrmer; sixty and nine.
- days, 2H-A.i SIX months, .a,TS. Clu
INC rev, steady. ruling rate ~.