The Richmond palladium and sun-telegram., 1911-11-12
FINANCIAL NOTES

Wall street news summary:
Ball Whicher stock exchange brokers
make an assignment.
Pittsburg feels much encouraged in bus! |
ness outlook
Freight rate war feared in announcement!
by Ontario & Western of tariff cuts H.
Chicago.
imperial troops slaughter thousands AT,
Nankfng, the worst massacre since begin |
ming OF rebellion. {
Reported movements Of currency f"!
week show banks lost about $2.o0oo00.
Failures In United States this week a.
against 2io last week
Missouri Pacific shows large gains IL
tram movement
'oc,easd e.nsd,s OF per cent during ue;nhsr' ,,r
year So3fs equal to 81 per cent on stock
against i 81 per cent last year. !;
,a American Can directors say company ha'i
i,,; hi,o,g;an-Ersan wire A; W. Thomsnn I
,,e hiis it. is rather difficult 70 oysrri.i
occurrences and while the buying OF setu |
rlties In the last Week has been partlcu '
inrly impressive, stin even for a bull mar
rapid and 1t therefore may he well not ~
IllLnb ,;a for stocks on the upturns. we ne
inmates higher prices. especially for !
great many selected issues. will be wit !
'''s>eh pu' tha- We VIII occaslohaiA! Ha' :
likely. !
New York Sun says: Market has bee 1
oDneed TO withstand Il tremendous a'nouh
or profit tai king. 1t Is matter OF VIZ.
comment that it absorbs the realizing sale J
very rapidly.
New York Times: The fact that many
traders have been skeptical OF the rise an
have expressed the belief i'll terms OF shor'
safes contributes just much to IL
forces making for higher prices.
Vandalia Railroad Company has decide |
per cent. which ordinarily would be d. !
c!ared this month. The company has 81 /
Ga.'l6 a.'l6 stock outstanding. of which $ll
Company. The company paid = per. ee |
cent up to 1910. inclusive. quarterly.
The New York Central lines have placed
orders for $3.50 freight OF various
types The order includes 1000 steel un.:
placed with the American Car and Fonn-.
dry, COMPANY; 1000 box cars. With the, the
Pullman Company. 800 flats cars with thc. tnc.
gondolas. with the Standard Steel Car
mp This order de IN makes 1ra tGtal ren ni'
trail system the last few weeks.
The Canadian Northern Railway Com
pany has issued it's pamphlet report for
the year ended June 80. 1911. The income
account compares follows:
Gross s,e.sss'!,2 !s!i sig: 's'S sss'sSe.s
Expenses and taxes. 11,37o.365 9.4ss 81
Charges etc.......... 4.ss',s2s 3'sa2o45 3s'sa2 i
'f The b, os Surplus is equal to 80 per cent Of
$40. .O00.0O0 capital stock, as compared with
l 81 per cent earned on $50, 900. 600 the pre-
vious year
for the week ending Nov .. accord.
ing to Bradstreet's. were 2a7; against q; q,
in 1909. 267 in 1908 and 259 in 1907.
Business failures in Canada for the
week number 3D. which compares with . 10 10
last week and 81 in the like week last
year.
R. G. Dun & Co.'S weekly review Of
Records Of both bank clearings and rail
road earnings reflect the recent conserva-
tive expansion in trade activity due to
thut became depleted through long hesi
fancy. There is improvement In the imam :
cial situation at home. while foreign con
| ditions have been materially helped by the
agreement in the Moroccan dispute. though
the Tripoli and Chinese complications still
, remain; Tie situation both In Europe and
ening Of confidence which opens great
stores OF capital to big undertakings to-
bring about notable advance movement
The timidity born OF uncertainty has been.
the chief underlying cause of the retarded:
business enterprise
Statistics Of pig iron production and
steel orders during October testify to th'.
more satisfactory conditions In the irol,
trade Orders for rails for 1912 delivery
which have been long deferred. are now
appearing fast. recent contracts amount,
ing to about 100000 tons. Pittsbnrg re-
ports some increase in contracting for
i012 delivery, hut current business is still
ou;o+ Small lots OF hillets and sheet barS
are chan gng hands The basis Of $19
for open hearth and $50 for Bessemer,
Steel bars are weak and inducements arc
/ being offered for desirable business. Wire
goods are being cut. wire nails being
quoted at $3.50 and plain wire s1.35 Pitts,
bur