The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-08-21

week IN street
IS REMARKABLE {: ! ! Y ( !. ! ]
Entire Absence Of Any News De-
yelopnet,ts Of Inn
portancc.
1900 1900 = - 3.
RUNNING ON THE Y
Manipulation Of Past Few Days
Has Been Strong and
Artistic.
uN.NlNo ON THEORY y
llfsneoial to ,rhe ,rirn,, et.a.pianatch.1

New York, August 2o.-HeaYy In
crease OF deposits In the banks re-.
suited In a decrease OF surplus reserves
f To-day. The actual decrease was
shove $b,o00.0o0. and tho average un-
der half q million. This was not con-
sidered important in the market, how
ever. because the banking situation is
now so strong as to be but small
factor.
Stocks were heavy early In the day.
but the net result OF the days busi-
were trintng. and business was tho
1IghteHt for many weeks.
The past week has been remarkable
in Wan Street, because OF the absence
nnce. The Htirring events OF the last
few days OF July seem to have drained
all the facts. both good and bad, out
OF tho situation. The market has run
nipulation has been strong and artis-
tic. It has fooled the professional
traders into covering their shorts at
losses, led them to put out short con :.
tracts again and cover these again at
losses. There was no reaction worthy
the name until late In the week. and
that was open to a suspicion by the
professionals because they have been
caught so many times since the break
OF July 20.
Crops continue to improve, and cot
ton now promises 100000 bale
Yield. Corn has deteriorated only mod !.
arately. and, except for tho danger Of
frost, to which one-third OF the en-
Gtiro corn crop will be subjected owing
to the late season, the agricultural sit
uation Is entirely satisfactory.
those persons who bought securities IN
the troublous times OF July. for then
the crop outlook was distinctly bad.
The government report proved the crop
experts were perfectly honest in4their
tOay.tO.Oay r6pOrtS OF disaster
To Incrcnse Dividends.
II can be said on the authority OF an
officer Of the Consolidated Gas Com
crease it's dividends at tho next decla-
ration three months hence. The rate
of increase Is not given, but 1t is un-
all the stockholders. Brooklyn Union
Gas Is also expected to make an in
crease at that time. Laclcde Gas In
creased Its dividend TO 7 per cent.
week by the Lackawanna Steel Com
ways a. SIS a ton. attracted much
attention. as 1t seems TO disprove the
reports OF price cutting III rails J. c.
Maben. whose name has been used by
Wall street news bureaus as the man
who bought rails at $3.50 refused to
confirm or deny tho report. Steel men
insist that the volume OF untitled or
ders on books Is not important, be-
cause. owing to the enormous facili-
ties OF the steel companies, compared
with few years ago, very large orders
can be turned out on short notice. and
1t Is therefore unnecessary to put them
on the books 80 long In advance Pub
ltcAtion of the untitled orders by the
steel trust Is. therefore, a matter Of no
Importance, and the public is. therefore,
demanding that the trust publish It's
monthly earnings in addition to It's un-
filled orders. CO.
All Copper stocks were strong
l. t,rN tSOs1Sr f10 NIL Ya nj
tho definite agreement to curtail pro-
duction. This agreement to cur.ail
does not bar the new porphyry COM
panies from becoming producers. but 1t
victory OF the Republican insurgents
in California was accepted by Wall
Street rs a defeat Of the Southern Pa
c!fic in that State. and Hartman stocks
were sold rather freely as result.
The raid on Shelters that was be-
gun the previous week failed TO ac-
complish anything OF Importance. The
Joined the general advance. The COM
year ended April 80. amounting to
$204.063, less than for the previous
year. but yet sufficient to show per
cent. on the common stock. The earn
lings since that time have been slightly
smaller by the parent company, but
the American Smelters Securities Com
pany is earning liberal surplus for
the American Smelling stock.
In the Street.
Number of shares sold to-day, 49,
s25; year ago. 5sl.525.
S634.000; a year ago. $1,779,000.
Eight hundred thousand dollars
worth OF gold arrived to-day on the
steamship Campania from Europe.
"A slight slackening in the locomo-
tive business has caused the American
Locomotive Company to cut down its
working force at its Richmond branch.
This gave rise to rumor that the
entire plant would be closed down. but
officials OF the company said to-day
this was incorrect and that the works
will not be closed at all
On the Curb.
Trading on the curb market was
quiet to-day. with Chino. Inspiration,
AGiroux and Nipissing most active. In
several OF the leading issues no trans
actions at all were reported.
New York. August 2o.-Money on
d call nominal. Time loans dull; sixty
days, q ga @3 per cent. and ninety
days s 41-2 @3 ga per cent: six months.
4 $500 "a. Prime mercantile paper.
Is 1-2@6 per cent Sterling exchange
Hrrn, with actual business In bankers
BILLS at $4.84@$4.8410 for SIKH ayl
bills and at $4.8855 for demand. Com-
4 mercial bills. 4.83@$4.S3 Ia. BarFsii-
yer. SO 7-8. Mexican dollars. "A.
RICHMOND srooR MARKET.
BY Richard w. Maury s3is5