The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-11-27
STOCK MARKET is
STUBBORNLY FIRM
------------------
Troubles in Mexico and Brazil
Fail to Shake Its
Strength.
--------------.
NO IMPORTANT CHANGE
Railroad Men Much Cheercd by
Speech of Chairman
Knapp.
IMPORTANT CHANGE
Especial to rho Times Dispatch. ]


New York, November 2s.-Underly.
Ing strength with no important
changes In the leaders, but with some
specialties advanced, left the stocb
market at the close Of to-day's ses'
sion about where Ii began Dealings
were on a very light scale.
The bank statement showed very
small gain in reserves on an average.
but the actual statement showed
material loss In surplus reserve. The
loans showed an increase of above
$4,000. 900 in the actual statement OF
business at the close OF the week as
compared with a sl2,0O0,G00- increase
shown In the average statement. THIS
Increase of loans Is due chiefly to tho
transfer of such accounts from the
trust companies to the banks because
of the low price of money. Proof of
this is furnished in Il decrease of Sl3,-
100000 in the loan item of the banks
and trust companies not members OIL
the clearing house.
London was steady and professional
Wall Street looked forward to con-
tnuation of strength in the local mar
ket.
In spite of an uprising in Mexico
and mutiny in the Brazilian navy
the stock market held stubbornly firm
this week When those troubles were
announced the bear party began sell.
ing rather freely but failed to bring
out any stock OF Importance They
proved that the market is sold out
and that the technical position de-
nands an advance.
selling of Mexican bonds, and for
few days there was weakness in tho
stocks of the National Railway OF
Mexico. II is possible that the dis
iturbance also caused hesitation in
skuthern Pacific. for that company
has more than 1000 miles of track in
Mexico American Smelling stock was
sold because of the Mexican trouble
they started to get back their stock
when they discovered that the plants
of the company would not be inter
fered with. even IL the trouble be-
came serious.
Railroad men were much cheered by
the speech of Chairman Knapp. of the
Interstate Commerce Commission. in
which he made clear his belief that
an increase of rates had been permit
ted. This has been understood among
insiders for some time, but Chair
man Knapp's address was the first
public admission that the advance
probably would be allowed.
Dry goods experts have been teach
ing the public this week how to
save 100000 a day In the manage
ment OF the railroads. and leading
railroad men, who have no experience
except what they have acquired from
roads. have expressed a willingness to
take lessons from the dry goods eN-
merits. and thus save s365.000.0 900
year for stockholders This Is a bull
argument on stocks, whether the rates
are advanced or not
Several speciaIties were made &C
tive during the week. notable among
them being American Can preferred
and General Electric. In these there
has been accumulation by insiders.
and It Is only question of time when
other distributions are made TO share
holders No promises are made of an
early distribution. but the value Is
there, Westinghouse is also regarded
as having an improved market po-
sltion.
coffee and cotton both made new
high records for the year. and both
seemed destined to go still higher be-
cause OF the peculiar trade position
On the Curb.
Aside from the transactions in Chino
and Insp!ration in the copper shares.
the trading was quiet on the curb.
In the silver group Mckinley OAR
rsgh continued at the front with an
advance OF cents a share to SLAB,
but reacted 2 cents at the close.
In the Street.
Number of shares of stocks sold to-
1ay, 1881; year ago, 615.o2l.
Par value of bonds. sold to-day.
$4,000; a year ago. s2,55i,ooo.
New York. November 25--Money on
call nominal Time loans very dull
and easy; sixty days and ninety DAYS.
iMi Ia per cent: six months. Ia
IA par cent. Prime mercantile pa
per. f-2G5 S. per cent Sterling
,,F-t,