Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-04-06
DAY OF HEAVY TRADING,
WITH SHA RIP ADVANCE
Few Now Found Willing to Deny
That Spring Rise Has
Begun.
DoUBTERs FALL INTO LINE
Market Enthusiasm Still Largely
Outside OF New York, and Wall
Street Has Not Developed Leader.
Many Out-of-Town Orders.
ny nRoApAN wALl..

NEW YORK. April Sit was n day
or heavy trading with occasional SEN
sat!onal advances. increasing public in
tercst, a strong undertonc throuGh out
and a firm closing.
There was an accumulation OF out
of-town buying orders lat the market"
ut the opening. which resulted in a
large volume OF business and sharp adj
vance in the first few minutes. Tho
irrcSularity OF tho trading induced
some heavy selling which, however.
was readily ABSORBED The character
of the dealings brought a more con-
sentative tone, several OF the market
leaders stepping aside until ii could be
determined how far the public would
go for stocks.
Steel common is coming back TO it's
There is an obstinate short interest
still open which fights every advance.
The price moved swiftly from - s to
Boz SIS, where hoaV% selling was en-
countcrcd. Traders called to-day's
move the beginning of the substantial
advance.
new high. stockholders will meet to-
morrow and elect five directors No
dividend action is looked for.
bo rne and Iron touched &c.
lation has been going on quietly for
some time.
inspiration lea the copper issues,
touching 20 as. gain OF more than 2
points. This company has spent mil
lions In development work, and is ex-
pected shortly to become a producer.
IT is estimated that the ore can be got
out at q cost OF cents n pound. Miami
was quiet. Directors resumed dividends
to-day by the declaration OF a quarterly
payment of 90 cents a share.
General Electric. high grade s per
cent industrial Investment rose 4
points on buying. induced by reports OF
said TO be at the rate of rs per cent.
While domestic business is about 70 per
cent Of normal. the company is doing
heavy share of the export business
turers. This new business is being
handled on a highly profitable basis
Automobile issues advanced spcctnc-
ularly. Studebaker gained 3l2. Max
we'll motor issues went TO new high
levels, and General Motors. which sold
at So on January .. touched 129 "a
common To Sc IA. hut II dropped 3
points later Considering that . ;
company did not earn the prefer d
dividend last year. and the prospects
encouraging, the price looks high.
Union Pacific. which rose nearly .
points. is becoming n strong favorite
with tho older commission houses. who
are looking forward to movement
which Is expected TO carry the price
above 100
Rock Island preferred sold at IA.
Attempts were made to-day to get a
line of these stocks, as 1t Is expected
any plans for raising new funds for
the railway company Will include
rights to the stockholders of the hold
ing company
Bonds were overshadowed by stocks
Many doubtcrs have been whipped
into line, and few are now willing to
deny that the spring advance has be
gun. The enthusiasm has been largely
outside Of New York. and the Wall
Street district has not apparently de-
Vclopcd leader strong enough to
check tho market when trading be-
comes too crratic or to hold Il should
weakness develop.
II the text OF our state Depart
ment's reply To England's blockade or
der is favorably received. fresh en-
couragcment may be expected from
the bankers