The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-05-22
HAWLEY WANTS
TEXAS P AC|.F |C.
Evidence That He Has Taken
Long Steps Toward
Getting 1t.
HAS EXTENSIVE PLANS
II They Go 1t Will Mean More
Earnings for Chesapeake
and Ohio.
HAS EXTENSIVE PLANS
special to The Tlmes.pispatch.

Especial to Tho Tmes-D ispatch.l
New York, May 21.--Stocks were
strong throughout tho session to-day
and several standard Issues made new
high records for the movement. Not
able among these were Southern Pa
cific. Union Pacific, Amalgamated
Steel and Reading. international
Harvester was specially to attract
much attention. German buying of
Baltimore and Ohio and Missouri
Kansas and Texas attracted attention
and 1t was reported that the Hawley
system, through the latter road
would get possession of the Texas
Central. The Texas Pacific is also I'M
derstood to be wanted by Hawley
There Is evidence that he has taken
some long steps toward getting It.
All Wall Stree, wonders at the re-
rnarkable confession Of the Amalga.
mated Copper Company that 1t intend
cd TO use 100000 shares of Anaconda
stock for speculative purposes. This
probably explains why Amalgamated
does not sell at exactly twice the
price of Anac onda as 1t should do.
Tho bank statement showed ma
terial improvement in the money Sit
Uation. Financial markets were dis
turbed last week by the holidays In
Europe attending the Kings funeral,
This interruption of business has
been largely responsible for the delay
in announcing the Aotation of bonds
abroad, which in turn created feel
ing that perhaps the negotiations
@ere not proving successful, but at
the close of the week positive assur-
ances were given BY bankers con-
cerned that all these transactions
would end favorably. The hotation of
about 100000 900 Of bonds will prob
ably be announced early in the week.
In preparation for these announce
ments there has been quiet accumu-
lation Of standard stocks by leading
interests. The chief accumulation has
been in Canadian Pacific. Reading,
Steel and Southern Pacific. Short SELL
ing has been INDUCED in to a consid
cradle extent and. as a very large
short interest already existed. the
market Is now In splendid technical
condition
CAN for Higher Market.
All plans in Wall street call for a
higher market, and activity must be
expected at once on rising scale,
otherwise professionals will attack
tho list Everything depends upon
the crops. and the crop outlook Is
splendid There have been abundant
rains and now warm weather is hav-
ing its effect. II is admitted BY the
best experts that the area of winter
wheat that was lost will be replanted
in corn and other crops TO such an
extent that the tonnage for the rail-
roads VIII be increased rather than
reduced as result Of the misfortunes
to winter wheat
Directors OF the Chesa peake and
Ohio put their stock on per cent
basis. The company Is earning above
10 per cent The receivership fight
over the Hooking Valley will make no
difference to the earnings of the Ches-
apeake and Ohio, which arc independ-
ent of the Hooking valley. Should all
of Hawley's plans be put through
the Chesapeake will earn still more,
but nothing contemplated by way of
opposition to him can interfere with
the present rate, which Is based
on business already secured perma-
nently for the system.
The rubber trust directors refused al
the stockholders meeting to give up
the 100000 of profits which they
voted out OF the earnings OF the
Revere Rubber Company to a syndi-
cate composed of themselves. The d.
rectors were expected to turn TINS
money over to the treasury, and IT Is un
derstood they will do SO yet. Ihey
simply want TO avoid the appearance
of being forced. 1t is understood that
{ a reasonable time will be allowed them
N take this action so as to save their
faces"
The United States supreme Court Is
expected to decide on May 81 the In
come tax litigation. The oil and to-
bacco cases have been set for rear
gument on November IA.
On the Curb.
All mining. stocks were strong Q.
the curb market to-day. FL {Rayo was
the feature. with an advance TO the
new high record of 1-2 on very heavy
Is 1-2. Mines Company of America
was also extremely active between 6:
and CT. This company Is said to have
! found some new ore bodies.
In the Street. ),
Number of shares sold: To-Day, 1885,
us: year ago. 344.s66. Par value OF
bonds sold: To-day. s1.oo6,ooo: yea,
ago. $1,741i 600.
The American Railway Association
reports that in the tive weeks en na,.
increased 25,o63 to l27,14s. or the high
est figure since August, 1909. The in
crease was largely in coke and stocl
cars.
Acquisition by Edwin Hawley, Of tn,
Texas Central. is reported semi official
" in Wall Street. Negotiations fol
purchasing this property are unde,
way, and it is said the purchase vii
be made through the Missouri, Kansas
and Texas. officials of which regard
the Texas Central as a valuable feeder
for their line.
New York, May 21-Money on call
nominal. Time loans easy; sixty days
83-4 per cent. and ninety days. 33-4 O.,
per cent; six months. 4D4 Ia per cent
Prime mercantile paper, ga to 51-4
mar cant Sterling exchange firm