Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-07-25
WALL STREET APPROVES
WILSON'S LATEST NOTE
Shows It's Appreciation With Strong
and Higher Stock Market
Early In Day.
OPENING PRICES IRREGULA1,
At End OF Few Minutes OF Tradin.
Advances Are Scored, Brokers, Dis
appointed mt Failure OF Market to
Break, Being Forced TO Cover.
ny nRoADAN wal,

IN HROADAN WALL.
NEW YORK, July 2t-Wan Streets
approval OF the American note 70 Ger
many was reflected to -day in a strong
and higher stock market carly in tho
day. war stocks showed the greatest
strength, new high records being made
by American Can common. Baldwin
Locomotive and Bethlehem steel.
Al the oHcning price changes we're
irregular. but by tho end of tho FIRST
Ten minutes Of trading Il strong tone
developed and advances OF from 10
points were recorded. Most Of this
aa,n was due to covering by traders
VINO were disappointed Al tho failure
n' the market to decline following pub
hcation OF the official text Of the note
10 Germany. together with cables from
europe that the note was we'll received
IN Germany.
INC second hour. and resulted in frac-
tional reccssions from tho best prices
or the day. There was a strong under
tone present at the close
American Can common lcd the war
stocks. and on announcement that the
company has closed contract with
Great Britain for $4,000, 900 Of which
si7.60o.oOo would he profit, advanced
Sc points to the new high price Of
- 10. Profits made by- the Can Com
Ing Off the ga per cent back divi-
dends on the preferred stock 81 pcr
cent having been paid in the spring OF
1913 This would clear the way for
dividends on the common. baldwin was
another strong war issue rising TO the
new top OF 3 IL, while Bethlehem
steel skyrocketcd s l-2 points 10 the
new high OF zoo 1-o.
Large earnings and reports OF tho
receipt OF war order business impaired
N
EnamclinE and Stamping common,
which rose i-o points 10 tho now
high OF % IS. The preferred gained
nearly points.
Investment bankers report tina,
Western banks are buying securities
for cash. having SO much money that
they arc DESTROYS OF Keeping II en-
ployed. Ono banker bought a sub
Htantial block OF steel Corporation
sinking fund bonds for Western in
stitution.
The day was not without its low
record for some railroad issues Mis-
souriPacinc dropping TO the new bot
tom OF Ia. The railroad group was
ouiet. with practically no change in
prices.
Notwithstanding that SPECTATORS in
tho war stocks have for tho most part
made money, the conservative brokers.
who seldom depart from the policy of
advising purchases OF the high-Gradc
latIon in the war issues.
Estimates of the steel Corporations
earnings for the second quarter, ended
June 30. run all the way from $4,000
go 10 100000
SEW YORK. July eL-war stocks were
active again to-day and advanced material
At the close Baldwin Locomotive. American
can, Bethlehem steel and other ts.ues which
AFRO reapinE harvest OF war orders were
near their hest. Bethlehem Stc~i gained
points for tho day and Il 1on'. for ~"
week. American Can sold at new high
figure Of 5st..
nv nigh mark on report. that an Adj
;ioral order in tho n-iGhborhooG Of t3i-
40 had been closed by the company
Tho demand for ali classes al issues
ovorshadowe6 all other trading and ,hr
old tiun rtaudard lenders. Xix" New Yo.k
Central Reading. Union Pacific and SoCih
was again n feature Of strength AMI sold ut
:Os;.. which liz III" highest price at which
nonjiyidend paying stock has sold
the New York stock EHChanEa The
current neglect OF the railroad issues is
due 10 tho uncertainty over tho crnn out
look and II was generally conceded Tint
shares until after the publication .. tho
August crop report. There has hrcn some
Improvement In earnings during the week.
and several railroad presidents have giv"u
4 as their opinion that the turn on the
tide has been reached.
The only feature In the bank stat.m~n;
increase In loans OF sis,l0tEo. Trading in
bonds was in moderate volume vy!thou, an
appreciable change in prices.
United states Is advanced J.. on call for
the week.
new -yon,<, July ct-MArcantil. rar.-.
ansls Sterling cNchsnse s.cady; Cor lie
az, Mexican dollars. 3Sa,