The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-02-19
CLOSING STRONG
AT BEST PRICES
Market Continues It's Advance
Under Leadership Of Erie,
Southern and Copper.
AL INCLINED 70 WAIT
Speculation Will Be Slow Until
Court and Congress
Act.
ALL INCLINED TO WAIT
Especial to The Timcs-Dispatch.

New York. February 1s.-Erie,
Southern Railway and the Copper
shares were prominent in the trading
OF the stock Exchange to-day. II was
under such leadership that tho marke,
continued It's advance. Much Of the
buying was the covering OF short con
tracts by professional traders The
close was strong and about. 1T the best
prices. The bank statement was fair
IS good, but without any pronounced
feature. The Imperial Bank Of Ger
many reached it's discount rate me
half Of !; per cent.
Stocks have been r~cactionary most
OF the week, and what little public
made It's appearance in the
market was frightened away. a feel
Ing Of conservatism developed. and
their customers to beware of the mar
kct until the reciprocity treaty is
PASSED. and the Supreme Court deci
sions rendered. The speculative Gle.
prices because stocks seem 10 move
easier In that direction than other.
wise.
Change Of control Of Missouri Pa.
ciic was received with approval by
the financial world in general. 1t haA
suffered from long-distance manage
ment, n the terms under which It
vas turned oyer TO Rockefeller and
~ 'oC liloI tIto
management shall be In St. Louis.
George j. Gould states that he will
retire from the presidency as soon as
q new president can be secured. The
position has been offered to several
men Of high standing.
The retirement Of the Goulds from
the Missouri Pacific eliminates the
family as a factor in the financial
world Eth natural expectation is that
stocks known as Gould issues Will now
become standard trading Issues. and
VIII be taken hold OF by investors.
Further improvement in the steel
trade was reported. and Industrial
corporations and railroads ali agree
the corner should be turned. Money.
however. is still working lower. Tile
Bank Of England reduces it's discount
rate TO 3l-2 per cent. Time funds in
New York We're reduced one-fourth
OF per cent. The only reason call
figure is that the leading banks. fol-
owing the example of the National
City Bank have fixed a minimum rate
o f2l-2 per cent.
term notes, the New York Central an.
nouncing 100000 600; Erie, si2,5OO.Oo0
and the Baltimore and Ohio. 10000
uVo short term notes are finding q
more ready market than bonds. The
bond market is not SO good as it was
carly III the year.
In the Street.
Number Of shares sold to-day. s25,-
= SNat 49, 1o-I5cl. iAT value OF
bonds sold to-day, s2.o0s, 900: a year
age, sl.6l2,000.
a st. Paul dispatch to wall street
- quoted President Howard Ell
lott. Of tho Northern Pacific, as deny
ing that he would accept the prcsi-
dency of the MISSOURI Pacific, succeed
Ing George j. Could.
The name Of julius kruttschnitt at
present Gvicc-presidcnt OF the lIarri-
man lines, was also mentioned for the
presidency OF Missouri Pacific.
The balance Of trade continues 10
swing in favor OF The United states
ns evidenced by the ~oiiciai report from
Washington OF exports and Imports
for january. which shows the excess
OF exports for that month 10 have been
sos ~ !,33i, compared With an excess
over imports in the same month last
year of only sl0.79l,l57.
On the Curb.
Copper shares led in the trading on
the curb to-day. Chino being the most
active at a slight advance in price
Inspiration ais showed strength and
gained about Ia OF a point. Giroux
was made very active. Standard Oil.
stock rose 81 a share, while American
Tobacco receded the same amount.
New York, February lS.--Money or
call nominal Time loans dull; sixty
days, 3 per cent, and ninety days.
jM Ii: six months, 3I-2M33-4.
Prime mercantile paper. 1 to 10 per
cent. Sterling exchange. steady. with
actual business in bankers bills, at
s4.S3+0Ms4.S350 for siXty-day bills. and
at s4.S625 for demand Commercial
bills. S4,S3GS+.S3 Ia. Bar silver, SO rs.
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