Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-12-12
PROFESSIONAL ELEMENT
ACTIVE IN STOCK MARKET
operators Have Been Attacking tho
List without Bringing Out
Long Stocks.
COMMISSION HOUSES INACTIVE
opcning Is Steady, Followed by Offer
ing or Shares Mt Reduced Figures,
nut Rally Takes Place Before End
Of First Hour.
ny nnOAnAN WALL.

III WALL.
NEW YORK. December 1l.-Pr!co
fluctuations in the stock market to-day
again reflected the operations OF the
professional element which has been
attacking the list without succeeding
IN bringing out long stock. Commits
sion houses continued inactive.
Following u steady opening, the pro-
icssiona!s offered shares down. prices
pcinS depressed an average of Il point.
betorc the end Of the first hour, how
ever, floor traders began taking back
Inc shares they sold earlier in the ses-
sion. Prices rallied, recovering all the
LOSE and n little more so that the close
was slightly above Yesterdays final.
New York Central was prominent in
the recovery. advancing nearly points
on aggressive buying. Talk OF prob
able increase In dividend for this is
sue persists. but is not credited I'm
conservative quarters. AS group the
rails were strong and slightly higher.
There Is much discussion as to the
reasons for the offerings II Anglo
French bonds Some syndicate under
writer's attribute them TO tho German
propaganda carried on ever since the
notation or the loan. They scout the
idea that munition dealers have been
disposing Of the bonds, declaring that
tho manufacturers. II desirous Of OBJ
tanning money, could readily take the
bonds TO banks and obtain loans at
per cent. whereas. the bonds Yield
about 5l2 per cent Others declare
the sales are coming from people who
purchased out OF a desire 10 aid in
the successful notation OF tho bonds.
but who did not want the securities.
The bonds were fairly active today,
around yesterdays finals
American Tobacco attracted atten-
ton, declining more than points on
rumors thar the dividend PROBABLY will
DC increased director was quoted
as having stated that the company
should never have started dividends
at the 20 per cent rate and that the con-
t!uuance Of that rate hanpcrcd its
business campaign. He was credited
with having said 1t would be better
10 pay IL per cent dividends and work
payments up from this basis. He Is
said TO have added that lie had no
reason TO believe that this represented
an expression OF the opinion OF a ma
5ority Of the board.
bethlehem Steeis rumor factory.
which has been inactive since the stock
began to rcccde :-;m the high Of coo. I
resumed operations to-day. y rumor
was circulated that the company con-
templated declaring a dividend of 100
per cent on the common stock II. Anglo |
French bonds, which had been taken !
In payment for sales TO the allies. In
qu!ry at the headquarters Of tho com
pany resulted In statement that this I
was ridiculous. Traders recalled that
predictions OF 500 made for the stock I
when II was selling around par were
also said TO he ridiculous
Failure OF Steel common 10 respond
to the big increase in untitled tonnage
tor November was attributed by some
brokers to sales Of the stock for Euro /
pcan account. These sales are said to
he coming chiefly from England and
Holland
Republic Iron and Steel was steady
and in good demand. Brokers advis
ing the purchase of this issue declare
that after allowin. for the preferred I
dividend and depreciation. earrings arc
running at the rate Of 20 10 % per
cent on the common stock. they also
declare that the company has spent
close TO s26oo0,0o0 for new construc-
tion. or within 100000 Of the par
value OF the common shares outstand- |
ing.
New YORK. December li.-Ho: the leas.
vas the fact that 81 marked tn. first amt
versary o. The resumption o! dealings Tho |
stock EAchaf GO. after tho enforced cloSur. {
~ virtually four ana half months. due TO |
Tho outbreak az way. TAcrc vas this added !
1inercnee however that when business was
very restricted ard limited has's. To-day !
open 10 full and free operation. Moreover
many issues altogether unknown last ye.-
nave since leaped into extraordinary prom
.ncncc
prices were extremely Irregular at the
opening. United States steel fell :. TO SIS. /
aud Canadian Pacific declined y. To l7s /
While shares were fractionally lower /
demand for railway shares. with New York |
Central leading the movement. soon re-
stored losses and substituted general gains |
New York Central 20 10 1851 In CON
1cct!on with rumors that the dividend WAS |
soor To lie increased.
other features Of strength IN that group
included Norfolk and Western. Sew Haven, |
E'nion Pacific and tho trunk lines. Spc. |
,ialti"s. particularly automobile stocks, TEXAS |
Company. Mercantile Marine preferred and
some Of the more conspicuous issues. re- |
sp"roci 20 the genera! forward movement |
with some shading from top prices at the |
Hose.
Anglo French wir bonds were slightly
Hrmer. and representatives. OF tho banking |
syndicate expressed hc!r diSa Dproval OF |,
the recent selling Tor future d"livery. THE !
usual Weekend budget OF trade news was !
presented. all OF favorable character |
trea!den; Wilson'S views business as cx- |
81 the henrteiiing features Of the day.
London was moderate seller in this |
market. but offerings from that quarter |
we're freely absorbed Exchange on Lon |
don was slightly lower nominal selling |
~ bills Continental exchange again re- |
:enters of finance.
The bond market was irregular. with no !
especial feature. Total sales. par value, aE- |
srcgated selJ0GOo
United States coupon As declined 3. per !,
sent on call during the week
NEW YORK December 1l-Mercanule pa
demand. t7lEo: cables. si7?25. Bar silver, |
&c. Mexican dollars. 42T. Government bonds |
steady. Railroad bonds. irregular.
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