Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-02-15
WALL STREET MARKET
IN STRONG CONDITION
Railways Strengthened by Certainty
That No Dividends BE Cut Dur
ing Government Operation.
SHIPPING SHARES WANTED
Failure OF Germans TO Start Drive
on West Front Encourages Bank
crs-Uniou Pacific on 10 Per
Cent Basis.
nv RnoADAN WALL.

NEW YORK, February l4.-When
Union Pacific directors announced to-
turc he a regular 10 per cent issue in :
stead of per cent with per cent
extra it revived market that was
ing was heavy. with business light. II
was about midday when the Union Ia
citic announcement, was made. From
strong, and in some spots aggressive
~ so.
and held practically all Of the gain.
New York CENTRAL, Reading, Northern
Pacific. Chesapeake and Ohio and Great
Northern. advanced point and more
fore the close. but much OF the grain
was held. Atlantic Gull and West
the week, and American S;umatra cs-
tahlished a new high record. Baldwin.
ohio cities Gas. Corn Products and
Pittsburgh Coal were other strong fca-
lures.
Most important of the days develop
mcntS was the recovery of the railway
cuperativc power in the market. is
also important to know that profess
sionals. who AS a rule prefer 10 attack
the market, are now trying 20 work
spccialtics 10 high levels. This is par
ticulariy apparent IN Baldwin Corn
Products and Cruciblc. 1t is also a
fact that public speculative interest is
almost nothing. The market is in A
very strong technical condition. ready
TO respond TO any favorable develop
That favorable Developments will not
be missing may be guessed from the
cheering reports giDen ou, ~ by s' rc
Eive. because the only trouble with 1t
is the weather.
Payment of the Union Pacifir regular
dividend is only Il hint of what may
come. In other directions: Practically
all of the railroads could increase pres
ent dividends under the guarantees to
hN he
the government is contracting 10 main
tain tho roads in their present condi :
big comforting fact is that no railroad
will have TO reduce dividends;
Shipping shares continued III GOOD
demand. in sritc OF the punishment
the street has received from time to
time. in them, The, reason for this
as made evident by the recent sale OF
ships for the account Of the Atlantic
Gulf and West Indies. Announcement
pressed professionals Very. strongly. =.
From military point of view. Wall
Street is also more hopeful. The drive
so long that bankers begin TO feel that
Germany is afraid to make a start, aud
that the hes, the Kaiser hopes for is a
Directors Of the pistillcrs Corpora
ton want ii distinctly understood that
the extra payment on their SiocN does
not mean IL is placed on AN per cent
basis. The extra payment declared is
from surplus earnings that must aus
appear as stocks OF liquor are lowered.
In the case of American Malt. II is not
expected that any payment on account
of liquidated properties Viii I've paid
until tina, operation is complete
NEW YORK. February Mercantile
rapcr, ~: asa. sterling: siNty-Ghy bills.
stT:' commercial sixy:day bills on hanks.
Si7ils commercial StNty-9aS hl'lS. san. ,
demand. st,:i j-ib: cabl.s $40 Us; bar sill
Yer. $50 Mexican dollars, IS: government
bonds. irregular; railroad bonds irregular.
Time loans ttrm: SIXTY DAYS ninety days
and six months. 5'.g6: call money. easy;
ruling rate, "a