The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-12-31
LAST DAY OF YEAR
IN STOCK MARKET
lnterborougl,-M etropolitan Has
Honor OF Leading
the List.
SHARP ADVANCE IN ORES
Material Losses Are Recorded
in the Standard
Issues.
SHARP ADVANCE IN ORES
tspcclal to The Timcs.pispatch. ]

Especial to The Times Dispatch
Now York. December SO.-1nter-
Sorough- metropolitan preferred had
tho honor of being tho stock market
leader in the last session OF the year.
1t rosc more than three points. touch
Ing tho high level of "a. while the
Union Pacific, Reading Steel and
Amaigamoted Copper followed modest
ly at the end OF the procession. Great
Northern ore certificates also had a
sharp advance. gaining nearly five
points as result OF the disclosure
that the trustees will in couple OF
weeks publish detailed report that
will show among other things that
practically every dollar received from
the United States Steel Corporation
remains intact in the treasury invest
cd at per cent. dividends on the orc
certificates having been paid by re-
ccipts from other sources.
trading was on light scale. most
stocks being dealt In only sufficiently
TO get them quoted for banking pur-
poses. The bank statement was fav-
oraole. both In the average and the
actual statements. although the actual
statement showed the larger figures
Trading showed a distinct change In
tone toward tho close of the week and
material losses were recorded in
standard issues. The declines OF steel
Union Pacific and Reading attracted
particular attention, but the movement
was general. 1t was based on the fact
shnt manipulation by banking inter
cstS has been suspended. which in turn
was probably due largely to the fact
that steel companies are finding It
difficult TO make further advances in
the prices OF material The steel COM
pantes have secured a heavy tonnage
OF orders, but at very los prices so
that the profits Will be unusually small
for such large business Efforts to
secure better prices have resulted in
withdrawal OF the railroads from ne
sotiations. The result Of this is that
while mills are busy, new business is
at standsttll
Railroad earnings for November are
disappointing the financial world I'm
hroVement had been expected because
general business apparently was bet
ter Heports OF the Hartman lines
and the Rock Island made the past
week show material decreases in both
gross and net In view OF these fig
nFes. unofficial rumors that the rail-
roads arc doing better for December
are not given crcdcnce.
Copper metal mas continued strong.
and the leading copper stocks have
moved to nigh levels for the week.
Their advance has excited liquidation
on an extensive scale, and the result,
~ this was that they Joined in the
training movement at the end OF the
week
Steel trust directors voted cash
honus of sl.t5o.000 to be distributed
among employees. together with. % 900
shares of stock, but tho prices At which
the stock Is to be taken by employees
has not been announced
Movements OF the tobacco stocks con.
tinued perplexing.
In the Street.
Number of shares sold to-day. 1884,
oi6; year ago. $3.50. Par value Of
bonds sold to-day, so.5is.ooo; a year
ago. s1,0lS,ooo.
On the Curb.
Tho trading on tn outside security
market this the last business day OF
the year, was active and generally
stronger. The tobacco stocks were
stronger. led by American Tobacco.
which advanced ten points
New York. December 3o.-Money on
call nominal. Time loans easy: sixty
days. 484E per cent, and ninety days.
per cent: six months. per cent
Prime mercantile paper. 4H9ils per
cent Sterling exchange steady, with
actual business in bankers bills at
S4.SS2o for sixty-day bills and at
st.SsSo for demand. Commercial bills.
sis"1s. Bar silver, 54h. Mexican dol
lars. as.