The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-05-15
.BUOYANT SESSION
0FST0CK MARKET
Opens Quietly, but Improves in
Volume Of Trading to the
is. End.
RUBBER is VERY ACTIVE
Strength Of Market Throughout
Past Week Has Surprised
Nobody.
ia The Tlmes-pispatch.

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Especial to The Times Dispatch1
New York, May 14.--The stock mar
ket had a bouyant session to-day. The
bank statement showed material I'M
provcment in ali items and the United
States Senate made 1t known that the
extreme railroad bill passed by the
House would no. be accepted. Lon.
don was closed and Will do no busi-
ness Monday. After quiet opening
the market sold off a fraction and
then improved In volume of trading
and quotations up to the end of the
session. Reading, Amalgamated Cop
per and Canadian Pacific were the
conspicuous leaders In the early
trading specialties were very active
with United States Rubber feature.
the stock advancing nearly three
points. Rubber held most of this adj
VANS in spite of an official denial
thaRthe syndicate Of directors intends
TO turn over to the treasury of the
company 100000 of profits guaran-
teed in the Revere Rubber purchase.
This official statement on rubber Is OF
no value because 1t is the stock
holders who have planned to have the
syndicate profits turned over to the
company and the directors will yield
gracefully at the proper time. This
100000 is about 8 per cent. on the
common stock of the company and
present earnings are above IL per
cent. Tho fact that the directors were
willing to pay to themselves the equi-
Salent OF a 3 per cent. dividend on
Ri the common stock OF the company
makes 1t a certainty that they Will
be willing to pay this much and more
TO the stockholders. 1t must be re-
hot 10
600 Is to come out OF the earnings of
the next two years and Is not cash in
the treasury yet. It has not been
decided whether the directors shall
turn 1t over before or after II has
been accumulated
Traced to Pool.
Buying of Canadian Pacific has been
traced to a market pool in Wall street.
The stock has been taken in hand
because OF its remarkably good earn
ings and the prospect of dividend
increase.
Rumors OF any intention of Canadian
Pacific to buy into the Wabash are au-
thoritatiyeiy denied. The Canadian
road has traffic agreement with the
Wabash for a long term OF years that
is as good as ownership. The high
Capitalization of the Wabash as com
pared with Canadian Pacific is an OBJ
stacle In the way.
Strength of the market last week
surprised nobody. II had 10 advance
in connection with the sales of bonds
abroad by American railroads. But the
bankers In charge of the manipulation
had an easy task. because the reported
sale OF bonds improved public sent :
1nent to such degree that, wblie
there was no buying of Importance on
the part of the public. no important
attempt was made to liGuidate on the
advance.
leader early in the week In ORDER 70
Influence sentiment in connection with
king Edwards death. The result was
co satisfactory that the stock con-
tinued in leadership. II is safe Sc
curi.y for such purpose because ~
has never yet sold high enough 10 ois-
count its remarkable future.
THE Copper Producers Association
announced that the output of copper
continued TO increase during April, ana
&c now at the highest rate on record,
being 3o15,o21 pounds daily for that
,nonth The production for May VIII
he still larger, but consumption. when
showed a decrease in April, has taken
a sudden move upward since the is'
OF May. There have been heavy sup
,ren+s TO Europe, In addition 10 very
80 purchases for home consumption.
An interesting light on the copper
.;.uation was made by the report OF
40 rtah Copper Company. when
shows that In its Garfield plant II
produced the metal for 10 Genus
,,aund No copper company that fans
- nroduce under 10 cents pound Is
worthy the consideration OF investors
Crop News VIII Dominate.
crop news. of course, VIII ooi'iil.a L -
Nf
,,.r,,ct. Most of the week 1t was
..and hut on Friday a frost scare
caused a sharp advance in wheat. INC
advance of cotton that is now becom'
,nr sensational is due very largely &c
1he April frost, but also to the tac'
i that the shorts are in a serious pre-
dicament. The cotton crop Is not II
as bad shape as the cotton shorts.
While some bankers pretend TO %
disappointed that the Southern Paclns
did not issue a plan for sale OF u:
oil lands last week. 1t can De SAID ~
the highest possible authority that
the matter is still under hesollatlo..
The oil properties of the company
are so vast that the deal is too I'M
portant to be gone into hastily, bu
there are constant conferences In con
nection with it. Foreign markets
we're dull throughout the week. Brit
lsh rails we're strong by the expect
ed extra travel on account OF tn
funeral Of the late King: A very IA
vorable sentiment is being developed
in France towards bonds. The New
York Central has been added to tn
list of those selling in that market.
New York, May 14-Money on cal
nominal. Time loans easier: sixty day
end ninety days, 4 per cent; ST.
camille camille paper, l-2@5 per cent, ster,
ling exchange firm, with actual sana busi
ness in bankers bills at s4.sssoGs4:s
for sixty-day bills. and at s4.S6so fo
demand Commercial bills, s4:s3 ID
s4.sa a-4. Bar silver, 81. Mexican dol
lars, "A. a.. c,,.,,
Business was at standstill on tn
curb market to-day, eXcept In a feN
securities. Neither Ohio Copper no
!. United, the Heinze properties tina