The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-04-24
Z ~
WALL STREET HAS
QUE I Sc sSI0N
considerable Strength Shown,
j With Gains as High as
~ One Point.
FEW NEWS FEATURES
Report Of Overtures for Settle
ment of Short Cotton Con-
tracts Only Incident.

New York. April "a quiet ses-
eion in Wall Street to-day closed
without material change of prices.
There was strength throughout most
OF the session, and at one time gains
ran as high as poinl just peiore
the close, however. selling move
ment set in. AT no time was there
any anxiety to buy or to sell. Inc
only new feature of interest was the
cjrcumstantial report that ovcrtures
for q settlement OF short contracts In
cotton had been made TO one OF the
important bull interests and that the
matter was being favorably consid
cred.
The bank statement was of NO i'm
portance, as indicating money move
1nents. for no item was materially
..nIral statenients K considerable de-
crease in loans had been expected,
but while the average statement dio
show an increase of s9.163,3nO the ac-
itual statement Of business on Thurs
day night showed an increase OF si'-
t1s7.ao0 If the bank statencnt means
ianything this loan item indicates
INTERESTS
Chief Influence.
Everything done in the stock mar
Tset last week was Influenced by the
notion OF Attorney General wicker
sham in beginning prosecution OF cot
ton operators charged with con-
kpiracy to advance prices.
This action led to rumors that the
Federal government was planning
crusade on established methods OF DO
ing business. and. without reference
ITO the justice OF the present action
the government was generally con
hemned by Wall Street men. The re-
suit was Immediately seen In the
gtock market, where prices began -
sag. Prices of seats on the New on \ or. ,S
Cotton Exchange fell from $4,000 to
$4,000, and those on the stock f.s
change from $4,000 to $4,000. me
faiture OF an important spot house IN
the cotton trade was announced. ana
the reorganization of another house.
In view of the fresh growth OF a
suspicious feeling in Wall Street, the
increase of the Steel dividend mat haa
months has become a matter OF doubt.
Earnings of the trust for the hrst
quarter of this year are understood 10
be above s40.O00.000, and an increase
payment The conservative element III
the board favors q regular per cent.
dividend rate, with occasional extra
payments Several directors are un-
dcrstood TO favor regular per
cent. rate. The matter viii be ON
rislly decided on TUESDAY next
Pis-Iron Week.
IT developed last week that the pig
iron situation is weak because OF the
excessive production. Pig-iron Is ne
ing Imported into America from ASIA,
where the low cost Of lahor makes IA !. -
possible TO import AT a profit IN spite
OF the tariff as the Stee! Trust buys
pig-iron, the low price OF the mate
rial is not considered pear arc
plent on trust shares.
Most of the trading in steel stocks
last week was professional nut
brokers who keep close check on
operations assert that there mas oesh
some very good hquioa'ioh ~
That the farmers arc prospecting to
an astonishing degree is proved oy
the report of the lnte ld sr n1n,
an Increase of s6.oo7.05s in surplus.
while the surplus for the. year was
s10,692,740. The heavy sales or the
company in the present year can E.cau
nofhinp but crops OF record size, pro-
siding the weather remains as sooo
as il has been 10 date The aEricul-
tural outlook is unnsuslly sood ~
About the only enthusiasm IN me
business world. however, Is IN tHe
agricultural department Steel men re
port big business. but no. not az, sr ear
volume OF new orders. The mills arr
already hlled with orders enough 10
rarry them through the year with re,
cord earnings. but there ~ seneIai
expectation OF sharp decline IN e ...,aa.
ings next year. These dismal e%pec'
1afions are due to the unsettled po-
litical outlook. The political siiua-
ton is a vital element in liking prices,
for securities Just now. lhe uSh. ..
wal, street Is becoming recorclted 10
such action in that line. ana chahse
in the complexion oil congress 10 60
pected.
one of the few deals announced
vas traffic arrangement pstW,.en r., 49,. :.
Denver and Rio Grande and inc su :
lincton. giving the latter an outlet u
San Francisco over the Western "a.
cihc. Lehigh Valley announced INA
lis capital stock would be doubled
and that ne-halt me en- new 1 nar II de.
Seloned that the St. Paul has yer!
large land, company, worth severa
dollars share on the capltal sr s.
,rhe Interborough Eapli lrahsil
f,ompany made report. OF earnings
for the first nine months OF the hsca
wear, showing an increase OF r zee noG
from operation OF more inah so,o ~ !.
me surplus for the nine months
Sl.4oo.006 greater than for the same
period last year. ,.a,
The long standing litigation bstweei
the Federal Smelling g, a anu ei rsnnanie,
has been adjusted through q coinpro
mise that will give the Federal o1 ON
pany 2I.0oO shares Of '3unhsr IN ~
stock. besides the right to operate m y,
Wardner property. ownership Of whisi
,-oes to the Bunker HILL This mean
above $2,000,o00 to the Federal eh'e't
ing treasury.
With the exception of Goldtield Con
solidated, which remained strons, VI
c,,rh market was inclined to weakness
TO-DAY. Business, however. was 9
such a light scale that the ! PR, prtc
changes were not important Nevaa'
Utah, made new low record at o
and Consolidated Arizona also decline,
La Rose was inclined to heaviness. seil
ing down to 3 Sd and Ray uen ~
broke to Q IT'S on announcement OF
bond issue of 100000. This bond Is
sue has been talked of for months. q
a great bull card on the stock, but
annnrently overstayed it's market.
wall street Gossip.
Number of shares sold to-day. IA
2sO, a. year ago, s9l,413; bonds, pa
value, $4,000. year ago, SS'af2,ouo.
er-Continental Rubber. common
s- -----
Thomas Branch & Co