The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-11-05
STOCKS BUOYANT
IN WALL Street
Reading, Union Pacific and
Canadian Pacific Are
Leaders.
STEEL is VERY STRONG
Material Increase Is Shown in
Bank Clcarings for
Week.
STEEL is VERY STRONG
Especial to The Times dispatch.

~
New York, November 4.-Stocks
were buoyant in wall Street to-day,
with Reading, Union Pacific and Ca
madam Pacific the leaders steel was
strong around the hign prices Of the
previous session. Reading was the
most active OF all stocks. and it's adj
vance covered three points.
Blocks OF IL 1000 shares and more
changed hands in single transactions.
sank c!earinsA for the week showed
a material Increase. Mail order bus
mess was much larger. Railroad earn
ings continue around high levels. The
public also bought considerable stock
in small lots and the upward move
ihent is beginning to acquire a col-
lowing. The New York bank state
ihcnt showed "A material Increase In
loans.
American Tobacco advanced to 1870
oh lhe curb as the result OF a report
mat the United states Circuit Court
would make Official announcement
Nonday OF the plan OF reorganization,
ana this plan would be very favorable
TO The common stockholders.
wall Street celebrated apparent adj
IustNnent of American Tobacco Com
pahy AFFAIRS this week With n material
adVahce In prices OF all stocks. a
quarterly statement Of S~2e.522,725 of
net earnings By the Steel Trust also
helped the advance because IL was
much better thai expected. Speeches
OF president TAFT dcnouncing the cor
porations for law-breaking and threat.
ehlhg TO Dissolve them because 81
!. had no influence on the market. al
.no"eh the soNernnent must begin
some important litigation soon in
OF President Tafts plan.
Announcement came that the stan
icy committee will resume it's henringa
on November 10. The Stanley com
"ittee IS expected to inquire partic-
n!arly INTO the relations existing pe-
tween the railroads and the steel cor
poratioh Particular attention will be
paid TO this relationship at the time
OF the 1907 panic In Wall street. Tn.
interstate Commerce Commission IS
expected to begin action soon against
railroads and the steel Trust on he
charge OF rebating.
Mall street considers the tobacco
dispute settled because the objections
made 10 The company's plan by Attor-
he~y-Ceneral Wickersham were nor dis
pleasing 10 the insiders. The reason
ms settlement s. celebrated so Wig
oFoudiy is that the Contamination
leaves the insiders In as fun control
OF tho tobacco Industry as they we're
before the government brought It's
SUIT II is argued from his that tho
government Will be powerless to en-
iorce competition in any industry. and
therefore the dissolution suits Will
amount to nothing. In connection with
the steel trust there Is a distinct belief
III financial circles that the government
VIII lose It's suit because IL has MADE
Charges that cannot be proved. The
steel petition is considered a political
stump speech.
one Of the peculiar movements of
me week was n raid on American
Smelling stock. This raid had all tho
appearance of a deliberate shake-out
by insiders, for immediatcly after the
collapse the stock strong and was a
market leader at the end OF tho week.
Pacific telephone advanced sharply on
runors of a dividend in the near fu-
turc.
All the prominent railroads arc TAX
ing part in the land show in New York
city. The motto Of this exposition is
Back 10 the Farm" but DR.. Wiley
suggests that a better motto would be
Justice to the Farmer" DR.. Wiley
holds that 1t IL not so necessary TO
persuade rmc TO produce more as
4. il TO get them ii fair price for what
<hey produce. He says they could in
crease the harvest indefinitely II they
could get their share of the price that
the actual consumer pays for farm
products. He want the middleman
eliminated. The consumer pays enough
for food to furnish magnificent profits
to the farmer II the price of food can
bc distributed in a fair way between
the producer and the distributor.
On tho Curb.
American Tobacco was the feature
of the trading on the outside security
market to-day. There was q sharp
advance Of Is points TO i3G, without
any apparent reason. Copper shares
were in good demand. and quite .irm.
Precious metal shares were quiet ana
irregular.
Number OF shares sold to-day. 3i9.-
1876; A year ago, 273,i33.
Par value of bonds sold to-day, So.
$50, 600; a year ago. s1,114,000.
Money on call was nominally . 1-2
per cent. to-day. During the week
time money was dull. the demand not
being sufficient to absorb even a small
part of the offerings fro mout-of-town
institutions. Even under these cordi-
tions there has been little s%oftening
in quoted rates.
Call money In London, ] 2n1 IA
per cent. short hills Z Tia nor cant