The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-11-09

highest price touched since the SEN
sational collapse following announce
ment OF the Supreme Courts decision
dissolution of the American Tobacco
company as now officially ordered
leaves control of the tobacco industry
exactly where it was before the
original suit was brought and the or;y
thing accomplished by the government
Is tne placing on the court rscorda of
INoof that nothing can he d .na "a
oes'roy private ownership of prop
eIy wnere that property IL CLOSELY
hefo' insiders OF the tobacco COMPANY
.onsFoi much larger percentages of
the company than they did six months
$50 TOT they bought the stock ell III.
way down In the big col1apse ana ali
the way back again.
crop Report Aids Market
Another influence fayorahia to the
mniket but for that very reason csu.-
ing pront-taking sales. was tho crop
report issued by the government on
cotton, corn and potatoes. The cotton
report shows the greatest thinning in
'ne history OF cotton. The corn report
SHOWS material improvement, with
promise Of almost 100000. 900
bushels The potato crop, which was
so'ooo'ooe bushels short In the first
report OF the government. il now less
than 100000 bushels short Of last
year II is known unonlcialIy that
mere mas been remarkable lsta
growth of hay.
Encouraged by the noye.nent NJ ths
crop situation and by the cd lanim,ty
or the stockholdIng public. the ra,i.
roads have begun TO buy rail. ana
o,rer supplies. This encourage, the
steel companies to believe tina. the
long deferred buying OF the railroads
- ABOUT to begin In earnest II lies
IN the power of j. p. Moran per.
sonally to order the railroads to begin
this buying and he Ia Just about angry
enough at the politicians who hav.
sued the Steel Trust for stump SPECIE,
purposes to give such an order.
SuEge@ts Close Watch.
seems unreasonable to expect a
big upward movement in the stocx
iaorket to begin from this level in the
face Of President Taft,s tecIa -ati,,n
that he intends to prosecute every ctr
poratfon that is as bad as the Steel
Trust But it is fact that most big
Movements. boti upHsiG an,t Down
ward. actually 90 begin u'td,.. un.
reasonable circumstances. 1t may De
that the big people know things thar
they are not disclosing to tins public
and therefore the market should he
watched very carefully to see whether
the decline of to-day IL a rsa III :, in
a huii market or the end Of d re-
action sr bear market. Mob. siv
Knows for sure. but ]. P. Mc'g.n ami
he won't ten.
Sharp advances were Recorded IN
s"'nn sps ,''.y'f>. most notao,e nf WIT n
was National Biscuit. whica uerans ed
n,ore u.an = roiuts in exp.ceat,., ~
Increased dividend. American >,n
-: eterref acid st the highest a,ic. in
its blstor yon repetition NJ the ancient
story OF something to be paid on the
account of the accumulated dividends.
National Lead preferred and Federal
Smelling moved up sharply.
The Copper Producers Association
announced 4 decrease In stocks Of
metal on hand and metal merchants
are really taking heart again.
New York Money Market
NEW YORK. Nov. s.-Money on
cali at the Stock Exchange to-day
opened at Q IL per cent, highest.
.21-c: lowest. Ia: clostnG. 31-4
per cent. Most Of the days loans were
made at Ia per cent. Time money
was easier and quotations were re-
duced IA per cent. The supply was
ample to ill the demand. Rates.
l-4G3f-3 per cent. for sixty days.
l-c@33-4 per cont for ninety days
to six months
Mercantile paper was still scarce.
and the demand was fair.
Par value Of bonds sold to-day, ST.
ese. 900: q year Axo, $3.137.000.