Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-28
NEW SUBMARINE POLICY
MAKES MARKET STRONGER
Greatly Eliminates Apprehension En-
tertained Regarding German
American Situation.
BULL MOVEMENT CONTINUES
Initial Gains ut beginning of Trading
Range From Fraction to Full Point.
Confidence In Stability OF Steel
Common Is Growing.
ny nRnAn\N WALL.

NEW YORK. August 2'.-NotwithSi aniinS
burss. tho market displayed y strong tone
to-day. closing with gains nrcrnEins u
poln, in tho STANDARD issues and 70
points In trc special'iss, Copper sh'roS
were strong 'hroushont the session; A"n 4,
was due 10 reports from Washington that
8 Germany would make ample raymcn' for
tho sinking OF tho i.nsitania and the Arahi'.
e, so far as Americans were interested nnI
+. that German submarine c"mm"nders h"d
hccr notified 10 warn neutral passen" erS
hetorc sinking rnsscnsSr SennshNs c,,,n
mated the apprehension entertained re
gardiur ,hc German American situation: and
paved the way Tor continuation OF the
huu movement
Initial gains Al tho beginning Of trading
point, Rumely and Tennessee copper we've
executions slowing losses FOR spes,n' 'e"
general market rercded during the re-
,mair'cr Of the forenoon. hui resumes it,
T WINS ~ TmT !. Of ron, Of is previous
ton for trts movement. strong under:one
prevailed at the close.
. Confidence in the STABILITY Of steel co.r-
mon Is growing. and many srccu'a,"rs who
brides" Sro imruinc their attention to this
issro. Brokers Saiu Yesterday th"r" Yer"
MAJ, large crdsrs. under tho market for
usually strong position. owing t" the s,"1I,
Persons usmaily familiar with tho trusts
business declare TIM, earnings rr@r nc
current quarter would 10 nearer S'G,o9'.oc"
This action of Tennessee Copper VAS a
distinct disappointment to many ncoDle.
initial sales hoinE at from ISis to -. tho
i.it;"r figure representing drop Of ~ points
overnight President Wedges stTtement
Cooperating the speculation in tho stock
was attributed to hc responsible in "a largo
measure 20 The drop. but the street heard
that the sharp rs" Of 10 points In prices
lat" Thursday afternoon represented tho
covering of certain man who WAS al
Inn" prominent in the comparT's affair.
have made private settlement. but these
wero not confirmed
l'!ttshurch coal shares continued to touch
levels for this movement. AMI plans
said ~ he ripouiur for tho payment Of
i've back dividends on tho preferred shares.
Sin'ilnr plans also said to u" under
ConSidCra ton by thS Corn Products people.
strength of Philadelphia Company sh ares
j. IN" in1!Tn"ty to the niomous WAY
der tia: have resulted in increased activity
pf the steel industry. This comranv Is
Ne-r closely allied with tho steel business
I'm that les natural rns department supplies
Gas for fuel I" the mills IN ana surrounding
the IitteNurEh district. In June "as net
osrlinrs increased ST 90 and in July. ST..
oh0 With tie steady growtr oi business
p '"r the steel companies continued expansion
in earnings IL expected.
MEN YORK: August .I.-Mercamtile n.-
for Demand. sif:2;: for cables, s,.'s>j. Asar
silver i7is. Mexican dollars. p Cox rrnuient
bonds. steady railroad bonds. irreSulnr.
Tine loans, steady; siNty days. 2,s. ninety
DAYS. 2sT5; sis months 81. Cali money.
steady: ruling rate. Ia.