The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-11-14
MANY TRADERS
DESERT MARKET
ONLY SPECULATIVE LEADER DE-
cIDEs TO GO DUCK HUNT
ING.
FAVOKtfES SHOW LOSS
cIRC L MSTANTIAL REPORTS Or En-
IRA DIVIDENDS ARE NUM-
EROUx--sTANDA OIL
h, THOMAS c. sHoTWELL.

NEW YORK, NOV. l3.-Circum-
stantial REPORTS OF extra dividends
were so numerous to-day that some
OF the big traders deserted the mar
ket. with the result that ii grew heavy
toward the close and ended with some
material net losses in the specula-
tive favorites. Among these reports
was one that Lehigh Valley will pay
IL per cent. extra on Thursday, the
money to be used 70 pay for stock
in new coal company that will be
organized to take over the coal prop
critics owned by the railroad COM
pany. Another had to do with Brook
-iyn Union Gas. which has an uncom-
Portable surplus of cash
Consolidated Gas was also reported
preparing a script dividend on account
of the vast profits made by the Ed
son Electric Company, The old. old
story about Reading was repeated.
American Beet sugar directors were
said to be planning a. extra divi-
dend of . "a per cent to make up Il
fun per cent. for this fiscal year.
Standard Oil Busy.
In addition to these reports there
was circumstantial evidence that the
Standard Oh people have been dis
tributing thousands of shares Of
made out recently in the names of
clerks for that purpose. This SELL
ing has cooled the fighting blood Of
j. p Morgan and brokers supposed
to be working for him were less bell
hKerent to-day.
Wall Street has no speculative
leader just now. but the trader who
most nearly occupies that position
Is f. Nj. Baruch. The fact that he
was preparing to-day to spend sew
eral weeks duck shooting leads the
Street to believe he has deserted the
market.
Desertion of such traders Is un-
doubtedly due to the fact that the
market has developed into on, OF ru-
mors and deals. Deals can always
be changed over night. and they are
uncertain foundations for campaigns,
unless one happens TO be on the in
side.
The }.ehigh and Gas deals look
genuine. but it may be that the stock
has discounted the extra dividends.
The short interest has been greatly
reduced, and il J. r. Morgan We're to
desert the market some very irregn-
lar sessions might be witnessed. How
ever, since the market cannot be con-
sidered in anything but purely spec
ulatiye light. such thing might not
be a calamity. for 1t would furnish
splendid trading possibilities
In Favor Of Railroads.
The supreme Court held that the
Southern Pacific Railroad Company
must nav taxes In Kentucky on
steamships sailing CT OF New York.
The Supreme Courts ruling in regard
to the payment by railroads for eie-
waiting grain in transit was in favor
OF the railroads. Announcement
was made that argument on the de-
murrers In the governments suits TO
dissolve the sugar and steamship
trusts would be begun on Decem Der
4.
gumors from Washington that the
government has made demands OF
the International Harvester Com
pany for decentralization, too dras~
tic for the company, lid TO the adj
mission by an ilsisey that the conn
pany would rather take Its chances
in dissolution suit than submit to
reorganization Of very drastic ma
ture. While the directors OF the nis
trusts are willing to meet the govern
ment more than half way. there are
limits beyond which they. as business
men. will not go. Something at least
"a favorable as the tobacco settle
ment must be offered.
Copper Sells Freely.
Copper metal sold freely at 2 a.
cents for Electroiytic and this cheer
ed ali the copper stocks. The chief
trouble with the copper stocks JUST
now il that they are under control
OF men who are too skillful in She
stock market to let the public have
any chance Of making money by trad
ing In them.
Signature Of the potash contract
by Americans in Germany had bull
ish effect on the chemical stocks. One
inf these, Cotton Oh, vhi,,h passed Its
dividend last week, rose two points.
Number of skeres sold to-day. $685.
40. a wear agO, 4sa,11e.
j. Par value Of honda sold to-day, $2,-
$40. 600: a year agc. $1.62s.0Q0.