Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-01-07
ADVANCING TENDENCY
OF PRICES IS CHECKED
Tie-Cp in Subway and Rumors of
Disaster Lead to Break In
Market.
FIRST HOUR SEES DECLINE
Missouri Pacific Drops to New Low
Reconsideration Steel Loses
Out Steel Common-Other Steel
Issues Strong-Coppcr Neglected.
BY BROhDAN WALL.

NEW YORK. January 6.-The advancing
tendency of prices received he"ithy check
at the ope..ins o: to-day's stock market
from purely local causes a tic-up in
the subway held back the downtown ush
for two hours, and ru!nors OF great dts
aSter ana tho Absence OF the brokers Iro-
duced condition that displayed the ncrv-
1, easy for traders to depress prices mo-
mon,arIly.
lnternorouEh- Metropolitan preferred lost
points and fell to the minimum price
of 80. while the common dropped to l0S,
loss OF / u points Othcr stocks reacted
In sympathy. although there was no
nect,on except scntimen,ally. and the mar
rowness OF tho trading merely cmpha-
sized the loca! limitation of dealings.
figure of ots on wei! authenticated re-
ports that tho road would be placed in
point or moro were general IN the first
Eour.
At noon, Charley schwab. driving his
pet nlly. Bethlehem. steel. noscd out Judge
Gary, plotting steel common. At the I'm
fish Bethlehem steel was 81. ana Steel
Other steel issues were strong. Repub-
lican Iron and steel gninod Ia. selling at
20. United States Steel preferred
GAINED s. 20 IS. new high American
Can issues were stronger and several OF
the minor industrIals made gains.
Copper stocks were neglected and prices
ara shares showed little or no change.
and Union Pacific recovered easily.
New York Central los. a point, and New
tho afternoon, although prices were in n.
ci!ned to harden the extreme ease In
the money market, The good. demand for
bonds and the new high prices recorded
for New York City issues.
In the bond department Bethlehcm
Consolidated Gas con. cs rose to llOla In
terboroush 80 were active. with decline
n from -. to 49,. Denver and RIO
Central Pacific bonds were offered for for
e!gn account. These issues largely held
by German bankers and further liQuida-
uon may be expected.
NEW YORK. January 6.--Thc local stock
market again proved its Independence to-
progress towards bettcrmcnt, regardless OF
The London market where the american
Pacific, Southern Pacific. and ST. Paul were
the most backward TEXTURES OF the future
market. but Pennsylvania and New York
Central also manifested selling pressure.
lnitin! doniings SURPASSED all OF their
In the first hour, carly reports OF the sub
way accident causing an all around break
In Peterborough issues. Gould stocks later
cihc Denver and Rio Grande preferred and
81. Louis Southwestern falling to low rec
oiina Chemical preferred declined &c points
10 Its minimum price OF so. with 3-point
gain FOR the common stock.
bethlehem Steel led the Industrial d.
vision the stock for the first tino In many
years passing the current quotation for
United States Steel The price was 5lL
Steel again offered for European In
terests. according TO report. but held steady
throughout a majority OF the days gains
were In securities Of secondary Importance
the list closing with moderate hrmness,
inter n further decline
Light was thrown the recent trans
fer OF s2,o0e,0O0 gold from the assay Of
nc" by the announcements that tho metal
had been deposited at OF the Lend
Ing national banks tho credit OF the
bank Of France. The transaction which
WIS said TO hc without precedent probably
Implies tho building up nj this centre or
moderate gold reserve by the French
government. Other newa bearing upon the
foreign situation, included reduced dis
counts by the national banks of Denmark
and Sweden. London markets we're
steady, with some broadening OF opera-
tons
Bonds wore irregular. with wide declines
in some vulnerable Issues.
United states government bonds werc un-
changed call
NEW YORK. January s.---rercnntiie pa.
rer. 4T4hs Sterling exchange barely
steady; .:vty.day bills sis2: for cables
sis6; for demand, s4.S150. BAR eiivcr
$50. Mexican dollars. 81 Government
bonds steady; railroad bonds Irregular
limo loans, dull; sixty and ninety doya
~. @S x six months. 3A@i. Gail money
steady, %,