The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-03-05
STOCKS, BONDS
AND BANKING
Railway Securities Away Down
and lndustrials Were Rather
Weak.
LIQUIDATION ORDER OF DAY
Encouraging Bank Reports f#nm
All Over the South--Busincss =
With Panama.

Contrary to the expectation OF the
epeculators and dealers In stocks, the
market yesterday morning opened very
dull from the point of view Of thu,
Richmond traders.
JUST why the local contingent who
Ore In the habit Of putting money In
stocks and bonds looked for an I'D
vance along all lines with the opening
of the week II IS hard to tell. but
sornefow they did expect 1t. and some
bow they were disappointed. Very few.
II any. OF them, however, had spccu-
lated on their belief. Thcy we're sim
Fly hoping for better things. and
watching the ticker to, see II they
were good prophets.
Among the earliest bulletins from
New York WAS the fol owing cncour-
aging, not to say british. review O.
the tituniion.
''rhe outlook is for a considerably better
market this week, with Important gains,
especially among those good stocks that
suffered severely last week The bclated
iquihation In Northern Pacific and some
other Issues has cleared the atmosphere,
ana with Congress out of the way the mar
ket should soon be more stable basis.
Whether the new Secretary OF the Treasury
WIN prove as satisfactory TO the street aa
we win secure all the gold We need from
abroad to finance Western requirements.
The nearer approach Of dividend action on
United States Steel common. Anaconda and
Anialganaied Copper aringg renewed ex-
pcftations OF increased distributions by the
balls. and thcse stocks should improve TO
discount the probability Of such develop
Ynents Though there seems 10 be come
disagreement among the powers In the
financial world as 10 the proper course
stocks should pursue. we hold to the belief
that the good Issues are plenty low enough
and purchases, IL sufficiently well backed
TO withstand temporary bear Siege in case
tho rcactionists should succeed In pressing
their advantage further. should before u
greg. while return handsome profits
DESPITE other considerations the outside IN
yestmeni demand for Louisville. Coas; Line,
Pennsylvania, Baltimore ard Ohio. New
York Central Northw este I'm, 500 ana an.
Electric and the praferred issues of the
best !udustrinis should keep them from
going much 4 any. below the points already
reached. while. whenever the market rights
itself these securities will certainly re-
spond to the Improved conditions.
In spite of this optimistic view, all
railway stocks went off below the
Saturday selling point. Industriais
held up fairly we'll and were not af-
fected as much by, the slump in railway
securities as might have been expected
but they too were dull.
The bears who had control of the
New York market seemed to have
evrything pretty much their own way
from start to finish. and succeeded II
bringing about new foundations al
Gay long Will iO"GE PslStS hSi'
recorded on Saturday
The Hill stocks were EXCEPTIONAL,
weak. Great Northern sinking In ta
early hours about four points and re
m;ining. Southern Railway preferred
in which number of Richmond zeal
ers were Interested, went off poin
and Atlantic Coas, Line and Louis
willie and Nashville suffered losses o
two points.
A good New York authority quote
the closing conditions IN the followin,
suggestive language:
,.rhey say 1t looks AS if litigation
has TO go further. and ] think they ar
generally digusted at the action Of to
days market"
Activity in banking circles in TN
Southern States is shown by In
records in hte otfica' of r. q. Dun an
Cnmpany's branch IN this city.
The Gadsden National Bank, o
Gadsden. Ala, has just Deen chartered
capital s125.00o. f, T. Hollongswortl
president; J. w. Hammond, vice-presi
dent: w. G., Brockway cashier G. L
Coleman, assistant cashier
The First National Bank, of Rock
mart, Ga; capital .50,Ouo Application
filed by w. S. Witham. p. Q. Box 40
Atlanta
The Thurman Bank & Trust Con-