The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-02-26
REAL INVESTORS
SUFFER NOTHING
They Are Not Harmed by
Decision Against the
Railroads.
BUT BUSINESS is RETARDED
improvements Will Be Made and
Supplies Purchased Most
Cautiously.
BUT BUSINESS is RETARDED
Especial 70 Tic Times Dispatch. ]

Especial 10 The Times Dispatch.l
Ncw York. February 25.-Fertilizcr
stocks and Canadian Pacific made the
most show of strength in Wall Street
to-day. They went to now high rec
crds FOR tho year and held most of
The advance. Canadian Pacific is ad-
Nuncing partly because of the cXpecta-
lions OF reciprocity with the United
States. put chiefly because the COM
pany win soon issue some new stock
on which there Will be rights to tho
old shareholdcrs. American Agricul-
tural. Chemical and Virginia Carolina
agreement that has been reached with
Germany III the potash dispute. ODl-
sial announcement In this connection is
expected shortly at Washington.
The bank statement showed another
increase In surplus reserves and in
ci,ah- Trading IN ali departments Of
K The market MAS on a light scale.
Decision OF the Interstate Commerce
Commission that the railroads must
not Increase their freight rates was n
Severe blow 70 the stock market. II
selling short for several months "a
* cnYer TO great advantage. Losses on
american stocks in London mark I
Mere more severe than IN New York
sufficient 10 justify the advance given
recently by all conservative brokerage
l:9nses aeninst margin trading
Real investors have suffered nothing
because the railroads are fioundantly
able 10 take care OF themselves and
sun pay reasonable dividends. The
boom In business, however, that had
been. expected 10 grow out OF the heavy
purchases of material by the rail-
ioads will hardly materialize. for the
railroads will be compelled TO buy
have been prevented for no increases
OF wages can be considered. a period
of further economy has been made
Nextin importance to the Interstate
Commerce Commission was the an
rpuncc!ncnt hat George Gould has Of
tered TO sell his entire holdings OF Mis-
souri, Pacific with The holdings Of the
Gould estate at I; fixed price. a synd-
cate OF bankers is trying To arrange
Understandings TO take up this stock
which VIII remove MIR. Gould from the
Missouri Pacific as an officer, director
and stakeholder. II Is understood also
4 that Gould holdings in other railroads
VIII be disposed OF as rapidly as pos.
siblc. The prospect OF Goulds retire
mcnt caused a distinct buying move.
inent in the so-called Gould securities
that was particularly noticeable in the
bonds.
Minority stockholders OF the Central
Leather Company got an Injunction in
Inc court OF chancery in Jersey city
postponing the annual meeting until
Thursday OF next week. 1t is expected
the election will be held under the
auspices OF the Court OF Chnncery and
hat n ruling Will be made on the
wight Of the majority interests TO vote
stock tfnt has been borrowed. Al any
rate the minority has proved 1t Is
strong enough TO insure the publica-
ion OF quarterly reports of earnings
THE New York stock Exchange VIII In
HE near future refuse TO permit trad
ing on its floor in stocks OF corpora
tons that refuse TO make quarterly re-
ports
Announcement was made that tho
s Gugsenheim Exploitation Company
will Increase It's capital stock $4,000.
inn a f1f1yl ia f,f 4 a IN,
stock TO present shareholders. The
new stock Will gcta s per c-nt. divi-
dtnd, and VIII he listed on the New
York stock Exchange This move is
another step 10: publicity OF Guggen-
helm affairs.
AS 4 result OF the weeks transac-
lions the market has lost It's technical
strength The weak long interest has
been wiped out, but the short interest
thai was Il sustaining influence in the
market has also been enabled to cover
with such large profits that fresh at
iacks can he made with resumed con-
iincncG. Warnings against specuIa-
ilYe or margin transa ctions in the mar
iet are still being issued by conscrva-
tive bankers Tor the decision OF the
4 Interstate Commerce Commission was
only one Of six influences having di-
rect bearing on prices OF stocks Those
remaining are the possibility OF an
extra session OF Congress the Supreme
Court decisions in the oil and toba eco
cases, and the q cisions In Hartman
.
case. The power OF these coming de-
ciSions TO influence the market Will
bc Increased by the Interstate Com
merce Comniss' on's decision for the
line of drastic decisions.
On the Curb.
nr IadnT Was very ghr on the
steady, while american Tobacco rose
s. q share. Dealings in the copper
shares were on a light scale. and no
material changes We're recorded in
those issues.
In tic street
Number OF shares 5 SOLD to-day. $50
OF bonds sold to-day. Sl6o4 600: a year
rso, sL2S6.000. Negotiations for the
sale OF $aO.ooooo0 of Central Pacific
i,ivc-ycar bonds to syndicate Of
Fl French Banks have been concluded by
X Kuhn, Loeb & Co.
The number o. surplus idle freigh,
than on February |. according 10 the
statement of the American Railway
Association Committee on Relations
between railroads Just Issued. Tho
number Of icle cars on February Ia
last totalled 1882.
New York, February o5.--Time los ms
dull; sixty days. 2S-l@3 per cent, and
ninety days, 3; six months. 3 q. Close:
Prime mercantile paper, { to- ll-2 per
cent. Sterling exchange steady with
actual business in bankers hills al
Sl.s375orSl.Si for siSty-day bills, and
al s4.SG55 for ninety days Par SO
Mexican dollars, IS; Government bonds
steady. Railroad bonds irregular.
RICHMOND STOCK MARKET.
BY Richard w. Maury
Stock and Bond Broker. 1915 f. Main st,
Richmond, Va, February o. 1911.
SALES AT BOARD
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