The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-03-13

The market yesterday was unsxpscledly
dull after the turmoil % Friday. BrUhera
hung around their O6lces waiting fsR SONG
thing to happen. The bulls Were On tho
lockout for Q bear RAID. bat q didn't come
Prices were up fractionaliy.
The PRtsburs and Lake Erie. aooOrdlAs
10 the report for the year. out yesterday.
got its ratio Of On psnses 70 operating revenue
down 90 n ~ per cent Some Of the Hal
roads have reached . rattle In the noi9hbor-
hood Of 50. but mOat Of the New York Cen
trail lines. where tho hauls are e Q more
diversified sort than On the Western roads.
show ratios varyinR from eS to 20. A factor
10 tho Pttts0uFg and Lake Erie's showing
doubt l@ss 10 The favorable chAractsr q IL
irafic agreements With other New York
Central lines. under uhloh track maints-
nance IL about the blssest tom In The Pitts
burg and Lake Erie's szDsnss account.
The recent reversal Of opinion in Wall
street rega riding the outcome % the Gov
eminent suit against the Amorican Tobacco
Company has bssn rsdected In the quota
tons for tho securities Of the corporation.
The commoa stock on the curb has shown
great strsnsth thrOnGhous tho last week
ana ciosed Yesterday ct go. or just under
the high level % IsOs. The trading ysstsr-
day was unusually active. transactions In
the total Of the preceding days Of the week.
On the stock EEchSngs thu preferred
shares and also ths per cent. bonds
have been conspieuOualy strong. On the
other hand. rather cuFieusly. the movenient
c: the Dsg cent. SSss6s has SSsa IA 6iTsss
contrast 20 the course Of the other securities
Of the company. the price oS this issue hav-
ing actually declined during the week.
A few weeks sso. when ssntinsn. re-
Garding tho Tobacco suit vas moro pesst-
mistio than Il n now. the per cent. bonds
enjoyed a sharp rise. caused By purchases
on the theory that In the event Of the COM
pany losing its case and being compelled
20 dissolve. these bonds. which ssli around
time such Q course would 30 sxtremely
Z o the holders Of the Q
per cent. bonds. which rule % about 100.
and the q consequently dropped. Nov
that brokers think th at the proha btllties
favor . dectsiOn asains, the Government
tho - are in demand. while the per cent.
bonds are neglected.
One broker was heard Yesterday advising
. clisnf 20 buy tho IRr cent. bonds Of the
Tobacco company. His idea was that
even should the company win its sult the
- would improve In sympathy with Tia
other securities OF tho company. and should
the benefit TO the a. woald b obvious.
The g. Psu's report for the ssven months
ended January 81 shows q dehoit % soi 60
after the payment OF operating expsnses.
"a res and other hxed charges.
The surplus Of the road st the beginning
OF the year was o. 100 90. and st the end of
November was o.. 100. 600 Ths bod showing
for Decembsr and January b atfri outsd to
largely Increased operating sxpensss. oc-
casionsd by heavy weather. That makes
the ~. Paul's snow bill amount TO shout
two millions snd q quarter.
The best explanation that the copper
producers could give Of the sho wing made
In the report Of tho Copper PrOducsrs AasO.
citation had u that the large stock on hand
Sss attributable to the failure Of she Rot
terdam host to sail on March I, ita ap-
pointed day She Was due 60 take eth her
Zoo OOO pounds Of the metal and lad shs
sailed on time that amount would Ia 70 been
deducted from the stocks on hand.
Present domestic consumption Of copper
averages o.. OOO. Ooo pounds . month for q
population % 100000. The sssoeO. 900
people in Europe haven't besn using IA
mach copper. either for themselves or In
export to Asia and Africa. ~ 10 are using
here.
Announcement Of the suit brought By
the United Metals Selling Company 10 re-
cover upward OF 81. 900 90 from the Amer
IcAn Smelling and Refining Company for
alleged breach Of contract has led some Of
the copper specialists into thin king that
there isn't - much harmony among the
conssitusnta Of the rumOrsd copper Ger
- outsiders have believed.