Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-05-05
STOCK MARKET ADVANCE
0UTRUNS BUYING POWER
Trading Grows Dull in Rallies, and
Business Is in Diminished
Volume.
NO PARTICULAR PRESS URE
Days Opening Prices Show Frac-
tional Declines, SpccialtieS Drop
OF Easily, and Interest Drags.
Motor Stocks Strong.
BY BRoADAN WALL

new YORK, May Price movements on
the Stock Exchange to-day gave further
i,ndica'i9ns tia, Tor inc time being, At
power. on n diminished volume of trading
the market grew dul on rallies and when
the announcement was made that S;ude
dividend basis there was an attempt at
realizing. which broke tho stock some :
points ana started liamidation in many
Opening prices showed fractional declines.
Thee was no particular pressure, however.
common quickly turned thor position a, a
loss and worked for a rally. On local re
ports a. renewed nrmn"ss in copper metal.
IN" 'oprcr stocks were moved mp or
, points. Westinghouse made good re
coNerN Canadian and Union Pacific made
gain Of ah9u, 2 points lntcres, DRAGGED
Cruyihio steel Rock islGnd and Missouri
Pacinc were unsuccessful: Tho case with
which sreciaues declined shows that the
buying power is very Thin in spots. a CON
ditinn whIch suggests wider margins
tis'n in trading, whtGh, ii observed ee viii
strengi hor the technical position Of the
The GpW" 'p ' moyomeMt The rlose Wa" q"
nervous ana unsettled. Foreign selling was
not "A factor Al any time during the ses-
Chinr vas feature o: the copper stocks
"n more nan IRONS %m an the fs
three months 81 the. current iea.. The
ps showns he d2dends were
more than twice over with the average
Price o: the metal at sba 3S s ESTnps5 70.
improvemcnt. Directors will 1nec, towards
the eni of the month. An increase in the
Motor stocks were all strong In the early
dealings, Maxwell Issues being prominent.
half tn. advance. Speculative interest. how
ever, was largely, focused on studeeakeer.
rectors met. There was a scramble to get
out with the announcement or a dividend OF
7s iP'F cent and this depressed the price to
Cruciele steel sold up 70 2s on a renewal
favorable contracts from the Westinghouse
for part OF It's war orders
tho war stocks, dropping 10 points from
TUESDAYS price to 80 There was an un-
motive and American Locomotive, moving
close together. dropped about , points each.
dealings in this department were over.
Swallowed hy the announcement that the
cral III per cent bonds TO Kuhn, Loeb & Co.
NEW YORK. May 4.-ReaG,icnary Ten;
noteworthy were lacking IN to-day's stoc!:
market. but the under;onc was uncertain
subsurtace Indications Of renewed i' selling
on a reduced scale Trading was com
severe declines were registered by some
Of the spociaiiies at the outset notably In
poin,s h,,t soon MD" subs,anii HAL rcr Gov.
cry. Westinghouse Electric held better
than any others OF that sronn later rising
throughout
United states Stcc; hesitoted on the early
dealings. but rose Il point later despite m
cessant selling.
The financial event of the day was the
sale TO l bankers syndicate OF $1,000 oHo
PENNSYLVANIA Railroad i'2 general mortgage
bonds to ho Hs"l TN large part for refund
ing ana issue OF 81 per cent convertibles.
Bond market. irregular.
NEW YORK. May i.-Mercantilc paper,
Sisd2'.; Sterling exchange steady; SIXTY
dave. si!Cyo; toi cHhcs At9i5; for demand,
s4.72c5. Bar silver. 1'- McNican dollars.
SSs.. Government bonds steady: railroad
bonds. irregular. Time loans. easy; sixty
and ninety Jays, 2i.0?a. six months, AKA
So. Cali money, steady; ruling rate, ..