The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-02-05
SHORT INTEREST
LONG IN STREET
Market Absorbs Everything
Offered and Gains Strength,
Closing High.
BOND MARKET IS STRONG
Expectation OF Good Bank State
mcnt Helps i'll General
Advance.
BOND MARKET is STRONG
LSnecial in rhe rimes- pisnatch

Especial to The Times Dispatch.l
New York. February $50 long was
the short interest in Wall Street to-
day that in spite OF the recent liquida-
dating sales the stock market absorbed
everything, gathered strength as the
session progressed, and closed near the
high prices for the year. Trading was
less active than early In the week EN-
pcctation of good bank statement
had much TO do with the advance In
the market
Brooklyn Rapid Transit. American
Beet Sugar and the Copper stocks In
general were prominent in the trading.
he bond market was also strong.
Rumors were aiioat of the acquisition
of control Of the Gould system by
syndicate OF bankers friendly TO the
1larriman system. There is no sugges-
ton that any merger is thought Of.
but the completion OF the Western
Pacific from salt Lake CITY TO the
coast has made 4 friendly alliance de-
sirable Missouri Pacific stock is be-
ing accumulated by bankers Of the
first rank.
Distinct revival was noted in the
steel trade, perhaps 8 a result OF these
railroad announcements. Business is
something above the low record which
was made In December, and every day
sees additional orders booked in cx-
cess Of the December rate. Bookings
are now at the rate Of about 10000
tons day, the capacity Of the trust
being something like $4,000 tons. Or
GERS on hand untitled at the end of
est volume on record. Net earnings for
The month Of December were s25,9g0.-
e18. comparing with s37365.1S7 for the
previous quarter
From a stock market point Of view
the Stanley resolution. introduced i'll
Congress for the investigation or the
IS firmly believed by leading bankers
that the resolution is nothing more
IMAM part OF an attempt 10 break steel
III the stock market. This Congress
mas only four weeks longer to live,
and even II an investigation were adj
Nisabie nothing could be done in that
mcrcc ana Labor has investigated the
trust thoroughly and has found IL OBJ
serving al Of the laws as now in
Of the government
Tiiing Up Cnsh
Most Important OF the banking de-
covery that the National City Bank
had decided 10 lend no more money
even on call at a rate lower than . =
per cent. AS result OF this policy the
bank is piling UP cash at a rapid rate
having now 81 per cent Of reserves as
against only IS per cent required by
cash has led TO a belief in tile minds
OF the public tina the Standard Oil
party, which IS supposed TO control tho
u National City Bank. Is looking for
some severe trouble In the security
markets and is piling up cash in an
ticipation Any idea Of that kind is
.oSpbteh sftHIluHIu t)ii neE TtefS.
The denial. however, does not quiet
Il the public entirely. and because or this
eecumulatiOn Of cash many persons
/ are beginning to slip out Of the stock
: market. especially where they can do
+ so at II profit
The situation in the copper world
is becoming technically stronger The
uncertainty. regarding prices has Kept
consumers from buying largely in cX-
cess Of their needs There is, there
fore no great stock OF the metal on
+ where - = N,
lntion. Interests behind the tinted
Metals Selling Company will organize
perhaps viii be called the Copper
Buying ana Selling Company II viii
take most OF the business now done
by the United Metals Selling Company.
turned over TO the Anaconda or tho
Ama!ganlated, or perhaps iquldated
Along with the Improving condition
Of ne corner situation the smaller
situation Is growing better at least
IN regard 10 the stock market. The
Guggcnheim Exploration Company Will
derive Important dement's from the
financing just completed, and its stock
mas peen very strong the past week
strength nave been Disullcrs, United
States Rubher and Inter Continental
Rubber, all the low cost producing cop
per. company stocks, Beet Sugar Cen
+ 1rai Leather, International Harvester
and National Biscuit. Activity OF these
sPeclal,les suggests caution In the
general list.
On the Curb
GirouN Copper assumed leadership OF
the curb market to-day, and advanced
TO new high price for this move
nent
american Tobacco reacted 50 a share,
and Standard Oil sold off to so5
In the Street.
Number Of shares sold to-day, 3s5,-
AUG; year ago. 442.4Si
Par value Of bonds sold to- day. ST.
21%.0oo; year ago, S2,057 900.
Henry NJ, Tilford. IL member of the
Standard Oil executive committees and
an active member Of tina orga nization,
mas announced his retirement from ac-
live business in order 10 devote moro
time 70 his personal affairs.
f. W. Winter denies cmphatically.
through his secretary, that he will be
president Of the Missouri Pacific.
New York, February 4.--Money on
call nominal Time loans f1rmer; sixty
DAYS. 81 8 IA per cent; ninety days
l-4G3 1-2: six months. 3 "a Prime