The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-10-23
ST O.CKSS ACT
AND VERY STRONG { !. | R
Shorts Cover Freely and Public
Participation Is
Heavy.
MARKET IS ADtvA Nc 9:
Wall Street No Longer Inter-
ested in Political
Situation.
1fspecial "a The Tines. pigpatch.l

Especial to The Times-D ispatch.l
New York, October 22.--After an ir-
regular opening stocks became active
and very strong to-day. Shorts coy
cred freely and there wasggreater pub
lie participate sion than for several days.
The investors who have been waiting
for reaction are becoming impatient
Brokers expect them to buy at the
market next week.
The bank statement was even bet.
ter than expected. Bank clearances
for the week show material gain
over the previous week and are upi
practically to the level Of a year ago.
interesting movement, notable one
being in Shelters This stock is help
cd by the better tone OF the copper
market. and particularly by the adj.
vance in the price OF silver. Bonds
were steady.
Material AtlGance.
Stocks had material advance this
week without the publication OF any
positive news from official quarters.
The only influence in the market was
the announcement OF the new policy
OF the government at Washington.
which In sub stance is that no corpora
.tion will be prosecuted without first
having an opportunity to bring itself
under the law. This robs the political
sltua ton OF all danger, and Wall
Street Is no longer Interested In the
success OF either OF the political par
ties.
steel led the list. with Reading and
the Hartman shares following close
after. Tie copper stocks were strong,
and the spec!alties showed great ac-
prof taking sales made their appear.
ance. due partly to the advance OF
tile Bank OF England rate to 5 per
cent. and partly 70 the TACT that the
advance had been too rapid. Business
ny In steel.
The foreign investors seem to take
greater interest in that stock follow
ing the inspection OF the trusts plants
There is evidence that the steelmakers
OF the whole world have an UNDER.
standing about prices. The American
companies are in position e n ass
should the English attempt to sell
here. Steel trust officials say they
expect reduction, but no change con-
tempiated can jeopardize the per
cent. dividend on the common stock.
Large sales Of copper were reported,
and the market for that metal isEreally
better Activity OF stock OF the cleo
tricai companies is one sign OF this.
International Harvester attracted
much attention with material rise
TO the highest price on record since
the stock dividend OF 80 per cent. was
declared. This rise Is chiefly due to
the large earnings of the company,
but II has been inspired Just now by
report tina, the Acknowledgement OF
Missouri VIII refuse TO prosecute the
company on complaint that It is a
nun opoly
Railroad Rumors.
Dealings involving New York Gem
trail were IN circulation and denied.
according to this story New York Cen
tral Is to take over Western Mary
land and the Vtrg.nian Railway II
the Western Maryland. but could not
buy that road without violating the
sherman law II the government is
Paee Of the the Pa
ctic- The best lawyers believe the
government will lose Its suit against
the Union Pacific, and In that event the
Western MARYLAND would not be con-
Baltimore with the New York Cen
trail The case is exactly parallel with
that OF the Hartman system.
Decision Of the Circuit Court Of Ap.
IL
case was withheld. Reading stock was
strong throughout the week. and II
Z Is difficult to see how any possible de-
cision In that case can AFFECT the price
OF the stock in this market. a ruling
In favor OF the railroads is not ex-
pected. but an adverse decision would
10 nothing more than compel the
Reading to distribute Its assets. and
a scaling down Of the treasury assets
OF Reading should put the stock very
much higher. English bankers with
drew their ultimatum regarding cot
ton bills. and instead OF declining tc
accept them without bank guaran tee
\ after October i. they will extend the
time to the end OF this year, 1t may
be stated confidently that they will
: keep on accepting these bills into
the new year and forever afterward
y guarantee bills OF lading, a $ demanded
by the English bankers
Trading on the curb market was
confined to few stocks to-day and
these We're reacttonary Nevada Utah
Arizona and Chino. were moderately
q traded in; silver shares. under the
leadership OF Nipiss!ng, We're strong
Nothing OF interest was done with the
he number OF. shares sold to-d
was 397100: a fyeGrs ago.N 669.91S. Pal
value of bonds traded In sold to-daS
were s1,s47. 900 !; a year ago. s2.s2o.ooO
trio and Manufacturing BY traders ha!
been going on #conseryatiYely for some
( time.
". l. Johnson has purchased thu
Cotton Exchange membership OF TIL.
late J. G. Latham for a man who's.
Identity he refuses to reveal. The sun
he paid was $1,000 or $1,000 more thar
what was paid for the last seat sold
Shareholders Of the Pullman Com
4 pany received very extraordinar,
statement of earnings for tile YEA
ended July 81. Gross 4increa Sc, So. 900.
n $50, and after allowing. for OPERATING
expenses and all other chang res, 5includ
Ing depreciation. there was a balanc,
4, avail BILE for dividend of STA .93S,4 0 q o
l.61 per cent on the sl20 100000 o
outstanding stock.
New York October 92s--Prime mer
camille paper. 58l-2lG1 per cent Ster
ling exchange steady, with actual bus
\ mess In bankers bills "a IT, s4.S25OM
s4.s2755 for sixty--day bills. ara al
n f4,S670 for demand. Commercial bills
y 4.S2-1.SD$4.S2.5.S Bnrs silver &c q e