Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-06-02
ONCE MORE UNEXPECTED
COMES TO STOCK MARKET
Prices Fail to Break Badly as Result
Of Germany's Unyielding
Attitude.
BEST STOCKS ARE ABSORBED
Buying Is Better Than Selling, and
Rally Is Most Marked in Closing
Hour-Spcculators Throw Hold.
ingS Overheard.
ny nRoADAN wALL.

NEW YORK, June 1.-The unexpect-
ed again happened to-day, when stocks
yielding attitude taken by Germany in
her reply 10 the American note Open
Ing prices, which showed losses OF
from 1 TO l-2 points from Snturdav's
closing. proved 10 be the lowest of the
day. During the balance of the ses-
SION $40 h there was continued absorption of
ter than the selling.
In the last hour the rally was most
marked closing prices being about the
highest OF the session,
Failure of spectators and investors
to rush In and throw their holdings
overheard was the chief subject OF
comment during the forenoon. The
ed as proof that the market has been
hquidatcd TO a standstill. Traders sold
Steel short at the opening and went
Steel short were bidding actively for
II at the close. and those who pur-
chased Union Pacific cashcd in their
profits before the gong concluded the
session
While banking interests believe that
there will he 4 protracted exchange of
their recent utteranccs that they do
not look for war. The worst they say
that can he expected would he sew
erance of diplomatic relations between
Germany and the United States
The war stocks, which broke the
m most violently following the sinking
break wide open again TO -day. but they
did the unexpected by recording sub
stantial gains. Bethlehem Steel open
ed down points. but by the end OF
trading had recovered all the loss
with net gain of points. Crucible
Steel, which has given many specula-
but recovered all the loss and closed
with net gain Of 12 points. West
lnEhouse also showed strength. as did
American Locomotive. There was u
a he Ia
ter. even AT higher prices, but no stock
could be secured.
Interboro metropolitan shares were
strong. owing to the formal approval
by shareholders OF the plan for the re-
adjustment OF the company's cnpitali-
cation.
New York Central exhibited strength
owing 10 the very satisfactory show
ing of earnings for April. gross being
$A1i,1S7 larger and net S4.562,l99
Wabash common and preferred sold
at the same prices to-day, although
persons paying the assessment on the
new preferred ~" stock than the own
crs OF the old common. To-day was
the last day on which stockholders
and hondholdcrS could deposit their
shares to participate in the reorgani-
zntion. y member of the reorEaniza-
ton committee said the deposits had
been very satisfactory.
Mexico by the United States served to
lmpart strength to Mexican Petroleum.
which recovered its carly loss of .
points.
Missouri Pacific was weak. notwith-
standing that $2l,225, 600 of the s24,-
$4,000 notes had up to tho close Of
business been deposited for extension
The plan is expected to he declared
operative by directors tomorrow. The
certainty OF facing an assessment of
ABOUT $50 a share is detcrrinE persons
from purchasing Missouri Pacifc.
GGgsenheim Exploration displayed
dcnd ordered by directors.
%EW YORK; June Stock. were dull
ana heavy today, following the publication
"f tiermany's reply to WashnEton's note
Of inquiry Affairs In Mexico which point
10 dccisir" action by this government also
entered Into speculative calculations Omen
ing prices were lower by to 3 points war
spechltics aud other manipulated isa,ica
losing most ground
Later some Of these stocks made general
T","N"ries Foreign exchange continued TO
reflect tn" sensitive state OF the E,Irorean
money markets. Local time loans we're
easier. domestic Developments We're mainly
favorable from the :e.oooO"o reported
from tho New York Central Western
freight shipments OF various classincntI ions
are up To last years average
honds easier with little investment in
Quiry. United States government bonds un-
SEW YORK. June Mercantile pnrcr
*i.lt Sterling exchange sixty-iav hiis
S'5''; demand, s. $50: cables 4T9 Rar
siINeT.i. hSh l. Mexican dollars. IS Time
money .s,eady: sixty days. 2lads.; nine,y
Gays; ~ SIX months SAL. Cali money,
steady; ruling rate 2.