Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-01-27
j. S. STEEL DIRECTORS
TORPEDO CONFIDENCE
They DO the Unexpected Thing and
Pass Dividend on Their
Common Stock.
RESULT is pRoBLEMATICAI.
Effect on Market Will Not Re
known Until Stock Exchange
Opens for Business To-Day-Niatc-
rial Check Is Not Anticipated.
ny BRoADAN WALL.

NEW YORK. January Hf.-Not until VOL
otter O'Clock did the United states steel IL
rrcct"rs torpedo confidence ~ passing the
dividend on S;ccl common. How much dam,
hrc has been inflicted cannot be determined
until the market opens 10 morrow. The
lowest estimates for ia" December quarter
shor, 81 srl'SlSj&, '''' '"'''''F '''''"s '"S'
Wnils the passing Of the dividend came as
change circles TO might that any material
check would DO felt In the general market.
half point gain. at q IL.
Inand 10Y Nchison. Northern Pacific and
Union Pacific. Now leaders were found In
Tho sugar stocks that rose n point more.
and III" tobacco issues made gains
McNi'nn retr"lcgn Was active. and strong;
that large contracts for the SAFE OF oil
Gently have been completed other oil stocks
w"r" ea9i"r, California Petroleum preferred
showing hcnviucss
ritts.nrFh coal preferred rose rom $ TO
s. l-:, ana tho common was strong above l..
These issues were among the most n;tractly"
strong Sears Roonick gained points.
Cuban Americnn Sugar 2. and Scahoard Air
selling orders from London were noted in
Union Pacific Missouri Kansas and Texas
Ell" common AMI A;chis"n
hond dealings again showed contrac'ion
ii,GtS on tho H part Of 6Hycr. Among SOM.
az The moro active bulls. opinion has been
recently expressed that the marke;
awaiting The steel statement. and this be
Ing out or the way an advance VIII folio"
morrow. Trading In steel common has been
nu,,iRily small during the past weak. and
no ono can accuse the directors Of having
nntiripated their actions 10y stock market
activity.
NEW YORK. January rrom'nen, stock.
,novcd within extremely narrow limits dur
lrr tc-days !ull and irregular session.
Canadian shares. Erie first preferred, West
railroads were UP from to almost points
Tho rise in shares OF the cotton roads
the more ineNpl!cahlc from thu fact that the
Eallwa. reported un!lNpra
ines IN December, operating revenues falling
of over Si,Sp.r'o. with II net loss of ,sl4."sl.
Union Pacific showed small net gain
United states Steel feature Of In
teres;, because OF the quarterly meeting OF
the directors. the result OF which not
made public until after the market chased
only 81. 'S3 30 for the last months OF ,:.t the
poorest showing in tho history OF III" cor
porntion. and was accompanied by ;hc an
ncuHcemert that Il has beer decided 10
suspend dividends on the common shares
cther news near!n; up the financial silt
untion included "a sharp rise in foreign
Paris. iranCs rising 10 new high quotation.
The advance was attributed to purchases OF
co0'mcrciat bills on these centres 20 meet
heavy eNps mixtures IN this country
Trading was slow in London where Amer
lean securities were again prominent for
their easier tendency The bond market
priced issues adding 20 recent gains.
United states coupons and recistcred 20
advanced =. the coupons " and Panama
registered IS ;. per cent on call.
NEW YORK. January 2f-Mercan,ne pa
days hills sLc75; Tor cable. st@tS; for de
,mRnd. $3.50 BAR silver, So. Mexican dol
road bonds. arm Time loans steady sixty
days -i2n5a: ninety days. 81; s.N months,