The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-09-25
STOCK DEALINGS
EXTREMELY DULL
Little Business Is Done Through
out Days Short
Session.
WEEKS D.EvELo I'M EN- S
Most Important Of All Was spe-
cial Masters Report on
Railroad Rates.
WEEKS D EvEL o P M EN- T s
Most Important Of All Was spe
snocial to The Times-pispatch. i

New sSpeY York. September H.-stocks
were extremely dull throughout the
short session to-day. Net changes were
borough Metropolitan continued to be
the strongest features.
Although the bank statement showed
decrease In surplus reserves OF $i...
63S,500 in the average statement and
OF s3,358.4T5 in the statement OF bust
ness at the close of Thursday, the
street was pleased, for the loss OF
cash was smaller than had been ex-
pected.
Stocks q! showed tendency to ADVANCE = ! ,an,
tally, OF the large short interest In
the standard issues. 1t needed but
few favorable announcements to drive
the shorts to cover. These came about
the middle OF the week. and the ad-
vance was sharp. but 1t quickly fiat
tened out
Most important OF the weeks devel-
opments was announced by the special
master OF the United states Court at
four years ago regulating freight
rates were cCx.fscatory. The master.
who is former Judge, also announced
physical valuation of the Great
Northern and Northern Pacific far in
excess OF the capitalization of those
roads. The fact that Northern Pacific
and Great Northern advanced points
on this proves how important IT was
considered In a market that has been
fuctuating fractionally.
Chiils Enthusiasm.
On the advance caused by the Min
nesota announcement stocks came 70
market In such volume as to GRILL all
bullish enthusiasm Two other de-
yelopments at the end Of the week
contributed to the growth of pessimism
again. The first was the conference
held at the Waldorf Astoria by repre-
sentatives of the steel trust and In
dependent companies. This meeting
was looked upon as an attempt to con-
troll the steel business on the part of
the trust
The officIar announcement that the
conference was sought by the inde-
that 1t wss an unwise meeting. since II
gives an excuse to political enemies
OF the trust TO say that there Is
an understanding among the steel
ence was the statement By Interstate
Commerce Commissioner Lane that ne
is opposed to q freight advance.
Metal stocks did not snare IN the
weakening In the price of copper
metal, quotations being reduced under
10 cents pound late in the week.
The Chino and Kay Consolidated Com
Smelling Company would handle their
production. Utah Copper stated Il had
reduced its production in accordance
with the agreement made in Europe
OF mining news OF interest was the
announce ment of the Nipissing Com
pany that 1t had added s95O.00o to irs
cash surplus between june 20 and Sep
TENDER IT.
Cheering Influence.
Weakness OF grain was held as a
cheering influence. Corn broke to so ga
cents. the lowest price for two years.
In ~ n Ia
Of danger of frost, and a yield OF bout
5000. 00O,0 600 bushels as accepted s as
sured.
a banker identified with the Amer,-
can Beet Sugar Company went on rec
ord as saying that "in all human prob
ability" beet sugar common stock
would pay dividend before the end
of the current fiscal year. The last
fiscal year showed earnings of more
than Z per cent. on Tie common stock.
according to the official report. and
current earnings are even larger. The
dividend on American Malt preferred
was reduced.
Jersey Central's report for the year
showed that before setting aside any
thing for improvements 1t earned more
than 33 per cent. on the stock. This
ing. which controls Jersey Central II
was also said that directors of Read.
ing were planning a distribution of as
sets. This report was not generally
believed because the United States Cir
cult Court at Philadelphia will hand
down q decision soon defining rights
OF the coal roads In the ownership
OF other railroads and mining proper
ties.
On the Curb.
Chino Copper touched new high
record OF 10 on the New York Curb
market to-day because of aggressive
ia points above the closing price
on Friday. AT the high price, profit
taking developed and caused frac-
tional recession from the high figure
Other coppers were steady in sympathy.
No other changes OF Importance were
recorded in the list, trading being
very dull throughout the short session
In the Street.
Number OF shares OF stocks sold to-
day. 11l.59l shares: year ago-holi-
Par value Of bonds sold to-day. ST.
$4,000; a year ago-holiday.
The number Of idle freight cars de-
September IA. according to tho report
Of the American Railway Association.
There were $500 IDLE cars on side.
tracks on that GATE At the same
decrease Of 1870 Therefore. the net
surplus of idle cars was 4T076.
big Four declared the usual quar-
terly dividend OF Ia per cent. on Its
preferred stock. payable October 80 to
i
annual meeting Of the shareholders will
.sbe held October 26.
Total Imports of dry goods and mer-
chandise last week amounted to ,$15,-
s36,So3. compared with s13.75s,4l0 the
previous week. and s17,527,1S2 for the
corresponding week of last year.
8S w. x. Wingham, of London; has been
elected a director OF the Seaboard Air
Line Railway. to succeed G. Sidney
B Shepard. Mr.. Stewards place on the
i executive committee has been filed by
N. S. Medium.
At the request OF It's directors, the
Standard Cordage Company, a New
York corporation, with capital Of $6,-
664,958 In stock and bonds. has been
put In the hands Of receiver. The
company has been operating at a loss.
Clarence II. kelsey has been appointed
to liquidate the company.
New York. September 24.-Money on
call, nominal. time loans. steady: sixty
days. ga. and ninety days, 4@41-4;
!. Thomas Branch & Co