The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-04-17
COPPER STOCKS
LEADING MARX I
Sharp Advance Is Witnessed in
Several Of the
Metals.
HAWLEY STOCKS STR ouG
-----
Scmi-Official Announcement Of
Increased Dividend in
c. & o.
HAWLEY STOCKS STRONG
rspeetal to III. Times. pispateh.J


New York, April is.--Copper stocks
were leaders In Wall street to-day.
Anaconda. Amalgamated and Utah
making sharp advances. The reason
given was the shrinkage OF metal
stocks in London. A better reason
would perhaps be the existence OF
a large short interest in Annalgamated.
II has become fashionable for profess
sionals 10 go short of Amalgamated
when in doubt about the market. A
sharp recovery was seen In Federal
smelting preferred lianawha and
Michigan was another speciality TO
move UP al rapid rate. gaining more
than Z points. Iinwley stocks were
strong as result of the semi-offi-
cial announcement of an increased
dividend for Chesapeake and Ohio.
The standard stocks all closed strong
and active Strength at the close OF
tho market was due largely 10 the
excellent bank statement, the actual
figures showed gain in surplus re-
serves of above ss,o00.ooo. and coun-
teractcd the influence OF reports that
large exports OF gold would be made
in the near future.
Traders Surprised.
Even professional traders were sur
prised at the vitality displayed BY
the stock market last week. After
q long period OF dullness, II became
violently active on Monday. when the
Eupreme Court announced reargumen;s
In the tobacco and oil cases. The en-
tire list advanced an average OF noar-
much to the surprise OF the traders.
not only maintained that advance. but
Improved the quotations in many d.
rections before the end OF the week.
Perhaps the most notable feature
OF The week was the return of in
withdrawn from the market in ea
pectation OF a long period of dullness.
or perhaps OF decentralization. 1t now
appears that the governments pro-
gram does not Indicate any disaster
to the Investment world. ii can be
said on the highest authority that
the government does not object to
holding compdnies--as such. In other
words, the ownership of several COM
paniss b. one concern does not con-
stitute conspiracy. provided the pub
lie is not forced to purchase OF those
companies
Investigation makes it reasonably
certain that the government has no
evidence against any OF the big trusts
sufficient TO Justify the beginning OF
litigation such as has been carried
on in the tobacco and oil cases. The
prosecution of the sugar trust will
continue. OF course. but that fs a plain
case of stealing and does not touch
the great trust problem. The gov
prosecutions without waiting for tire
Supreme Court decision. provided IL
gets evidence.
Postponement OF the tobacco and oil
q NFVF1 49,.
lowed by announcements of soaking
rains throughout the agricultural re-
gions. This caused decline In wheat
and grain. The crop outlook Is un-
usually good
Week Of Good Views.
1t was a week of good news for
lahoring men. The New York Central
and Its employees agreed 10 accent ar
Line made an agreement with It's dis
satisfied men, and the steel trust made
formal announcement OF general in.
crease Is1s qI wages, 49,. ~,
about 8 per cent. and will mean So
100000 added to the pay roll. which
is about 3D.: per cent, in the COM
mon stock Of the, company and ii is
TO share in the distribution by hav-
Ing the dividend advanced per cent.
This Increase in the dividend is not
official, but It is believed 10 be COM
announced 4 profit-shafing plan.
Exports of gold We're expected on
a very heavy scale up TO the time OF
the Supreme Court announcement of
cases The sudden activity Of invest.
ment business in America checked the
exports. The March balance of trade,
however. Is very heavily against the
United States, the imports being the
greatest on record for any one month
by s2c.o00,00o. Copper is the one weak
spot of the situation. but even that has
improved In the last three days. Calu-
met and Hecla announced a reduction
OF a cent a pound in Lake earlier In
the week and then advanced 1t a. frac-
ton Copper wire was cut l-2 cen,
pound
On the Curb.
La Rose Consolidated Mines Com
pany stock sold at the lowest price
in its history to-day when on large
offerings It declined TO 315-l6. The
only explanation offered in connection
represented liquidation by persons
who had become tired of holding the
Issue which has been inactive and
Slowly declining ever since the divi-
dend was reduced
feature of the market; Greene Cananea
and GfrouH making fractional ad-
vances.
Wall Street Gossip.
Number of shares sold to-day e3Sg910
shares; year ago. 45S,332. Bonds,
100000; year ago, $2,26l 900.
The United states Steel Corporation
plant al Gary is 600 tons behind on
orders for steel rails. Joliet mills are
also behind six to seven months on
this class of business
Western railroads continue to report
q heavy tonnage of freight. with the
exception of coal. which is light as a
result OF he closing of he lines. All
iraa rail- oftleials in the Nest are, en-
mers in the corn belt are seeding an
unusually larre acreage. and this work
has been helped by an early spring.
New York. April 1s.-Money on call