Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-01-26

but subsequently rNCeeGCu us previous
best prjC" made during tho forenoon
In the late dealings. it rcceded ! point
from the top un prohibiting
DEALINGS ~ STEEL
ONE-Tou OF TOTAL
The amount OF speculation on What
the Steel dividend would re could not
have been better illustrated than by the
total transactions III steel common:
the entire dealings in all shares The
late afternoon run-up in the price rep
resented covering by shorts, who did
not have sufficient courage To stay on
the short side pending the action OF
the directors Their covering was. per
haps. also inspired by rumors hat the
dividend would probah bly, he resumed AZ
the rate of per cent a wear. Interest
In the dividend was so Keen that in
several places small bets were made on
the result. one broker about the close
OF tho market wagered $500. at even
money that there would not be amy
dividend paid. 4 few small warcrs
were also made that 1t would he 81 Of
] per cent Different odds were offered
against resumption At III" rate OF :.
per cent. y run-in OF the shorts is eX-
pected in IN" early session Tomorrow.
Following announcement of the dircc-
tors action steel common was quoted
In New street at 81 ! . bid, and N6 IL
asked. The closing price on the en-
change was 81 l-c
At least one person who attended the
bridge whist party given by Mrs. T.. II.
Gary has converted his prize of one
share Of Steel preferred into money. as
indicated Ivy the appearance to-day in
Wall street Of one share OF the pre-
fcrrcd IN the name Of Mrs Gary
MEXICAN PETROLEUM
DECLINES POINT
Rumors that the Mexican Petroleum
that the Associated Oil had refused to
accept securities instead of cash re
suited in 2 decline Ct ! roiut in Next
can Petroleum and nearly tina; much
IN Associated oil. California Petroleum
was slightly higher The writer learned
to-day that there is no truth in tho
runlors OF abandonment OF tho deal.
nnd that conferences are hc!ng held
right along. the latest being held to-
day. one Of the men taking y promi-
rcrt part in the NEGOTIATIONS told tho
writer to-day that tn" ruInors relativ,.
10 the Associated oil heinz offered
stock and having turned /, down were
without foundation. PROGRESS is no,
rtct"d 1T the outset, but the slight
"clay has been due ~ legal obstacles
which however. Ar" no; considered in
Clayton act, which prohibits holding
c"mraul"S. Pans Az. therefore. being
CARRIED along III" limo Of taking over
tho rhy steal properties.
Tn" street accepted tn" resumption OF
Ft"cl common dividends al tn" rate nj
Dcr cent year rs tacit expression
by tn" directors. VINO Include nanv al
Inc creates, business men In this couu-
try. Of th"ir cor.dcnc" in TN" soundn.sS
of the good business being done hv tho
nit"d State,. RrokcrS believe that
the announcement of the largest earn
!nSs for amy quarter hH tho steel Cor
porat'cn SHOULD imprcss more vividly
than rising stock prices tn. proSpcriiy
OF our large corporations.
n" rails We" unpriturhcd 10y tho
strength ofiS'cci. Notwithstanding that
our Hrtc.. rs .Af- commerce must ucceS-
saril' reject TIC prosperity 90 in.
generations win increased halIs
WITH but TWO or three executions The
STANDARD rails closed with no, frar-
t"nal losses. Cricn Pacihc acted in
contrast with Tn" general downward
tendency al the railroads and advanced
fractoNally Tho basis for its hc,icr-
men' was found IN m" publication q.
peccmhcr earnings Showin!: n gross in
cr'ase % SlSiS,%7- aud lie, gain
Northern Pacac also rose fraction
owing 70 gross increas" OF g. O2S 600
for December
A,chison closed under MONDAYS nn,l
deSpi;c q gain in gross Of >ITNla5o
an6 an expansion IN not Of SlIli:,,"
'ritca states Industrial hicohnl d..
chQ"d more than points I'll" dir.c-
tors met bat failed TO make any an
nornc"msN' relative to tho co,n,,a,,y,s
business or tho prospect Of diyidcuds
SEW YORK Jopoe-, q Tho ON. M
'"r"ns f"n'urc 90 to-day.s huil ana 70