The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-03-12
DAY IN Street IS
DULLEST OF YEAR
Trading for the Entire Session
Reaches Only $4,000
Shares.
COUNTRY is CHEERFUL
Good Business Reports From
Everywhere Except Stock
Exchange.
Especial to The Times. pispatch.l

s'pccldl to 'Ihe Times. DiSpatcH.l III
New York, MARCH, il.--Strength OF
Canadian Pacific. weakness of Central
leather aud II loss Of surplus reserves
by the banks were the only things to
attract attention to-daE in the dullest
market Of the year Trading for the
5000 shares. The governments
monthly report showed that exports arc
;itili largely in excess Of imports. and
arc gaining over last year. There was
The usual Saturday expectation OF Su-
IRENE Court decisions for Monday. With
no more than the usual excuse. Lead
ing inuncicrs would not be disappoint-
cd II these decisions did not come until
bout the lst Of May.
Stocks had practically no market at
III throughout the week, ana II there
MAS any tendency at all in prices IT
WAS upward. Securities are corncred
liy the big men who iinve been com
PEELED 20 take such vast loads that
LEES have now taken defensive posi-
ton that makes it undesirable for any
PERSON 70 sell, professional selling is
disturbed by putting the stock market
discouraged by the liquidation, but the
market holds firm. Thus an eauili
nrinm Is established that Is without
precedent in the history OF wall Street.
The market In the past week has
withstood blows that would have
caused wild havoc under almost any
OF Congress caused no selling at All
because IT undcrstood now that the
Democrats VIII avoid any radical pro-
Sress of tariff reform.
The Copper Producers Association
showed an increase in daily output in
the metal for February. and material
incrcase in the stock OF the metal on
hand. -
TIE United states steel Corporation
reported an increase Of untitled orders
on hand March |. amounting to 2S9.62i
tons. as compared with the previous
month. This was something o. n dis
appointments 10 the street, but 1t really
Is favorable because the plants Of the
company nave been operated more ex-
IcHSively
Concentration OF the American army
on the Mexican border created coNSid-
cradle excitement politically, but 1t WAS
rcasurlns o tile financial world. Amer
leans have about :l000.G00,o 900 invested
In Mexico, Of which about one third is In
railroads and nearly one half in min-
Ing. Presence OF the American army in
Texas insures the safety Of this vast
investment and the British investments
#"s fully sIoo,0 900 In the republic
orc also insured. Tie civilized ma.
lions have fully $2.000.o00. 900 invested
in Mexico and even should the Amer.
lean army cross the border they would
feel safe. Tho incident is not a bear
tsh argument on stocks.
The Now York Central reduced It's
dividend rate from 6 to per cent and
the stock proved that IL has discounted
tie change Dividend reductions are
expected elsewhere IN the list hi, thty
VIII not be bearish arguments
The Bank OF England reduced its
discount rate from IL TO 3 per cent.
World wide ease OF money Is one OF the
most important features OF the situa-
iion, and II accounts for a great deal or
the strength In tho market
everywhere except in Wall street.
conditions, and chief among these Is
the report that the farmers have car
TIED over the largest volume of grain
on record and are preparing to plant
~ 49, =
crops The fact points 10 a year Of in
crossing prosperity with continually
improving prices FOR stocks and bonds
On the Curb.
The outside securities market TO-DAY
was fairly active sid generally firmer.
More animation ~: ) shown In quite a
tew issues. especially the lower priced
shares. Greene Cananca advanced
fractionally. and American Tobacco
advanced nearly 10 points over the
previous close. Other specialties were
auIet and steady.
In the Street.
Number of shares sold day. s.. 600
z year ago. o2S,30t. Par value OF bonds
sold to-day. s2,2l60oo; a year ago, ST..
Missouri Pacific advanced fract,on.
2 ~ on the definite announcement that
George Gould would keen faith withI
t,nmn, LOEB q Co. and act in harmony
IN t.'ts tIIic Oh With the plans OF
nat interest for Missouri Paciffc's re-
thabflitation ~. IL ? II
The average loss in all stocks dealt
~ TO-DAY was 5 cents. reducing the
sam from December 81 1910. to .4sS
New FORK. March II. Money on call
nnl!i'nai time loans steady: sixty DAYS
-3-' per cent: ninety days. a3-4G3.
months. ; IA per cent prime Nor.
n sninIe PAPER, to 41-2. Sterling ex-
htnkers bills at s4.S4 for siytv iavr
I'd si;sso5ds 4ss1o for demand Coz,
'erclal bills. $3.50 s4s3I-4. Bar III
Yer, q 90. Mexican dolIara Ak - -