The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-02-12
BUSINESS LIGHT
IN WALL Street
Monday Being Holiday Ac-
counts for Professional
Nature Of Trading.
CONDITIONS ARE GOOD
Better Sentiment Cheers l.x-
change as Result Of In
creased Earnings.
CONDITIONS ARE
Especial to The Times Dispa tch. ]


New York. February ll.---As Monday
Is a holiday. business was OH light
scale in Wall street to-day. and was
almost entirely professional. Canadian
Pacific. with Its subsidiary company.
tho 500" furnished the only interest
ing development. Canadian Pacific
stock sold at the highest price in its
history. touching 212&. The company
will soon issue new stock. the right Oh
which Will be very valuable. Share
holders will probably get this new
6tock at $50 Texas Company stock adj
vanced two points
The bank statement showed a de-
crease in the actual surplus a the end
OF business on Friday night. but the
average surplus was Increased nearly
$i.000.000.
ment checred Wall Street the past
week New high records were made in
many stocks. as u direct result Of in
creased earnings for the past year and
or largely increased business for the
present year There Is no longer any
doubt that the corner has been turned.
and while the stock market may be
several months ahead of business. bus
iness is gaining rapidly
Most cheerful OF the announcements
for the week were the rel ports Of the
Copper Producers Association and Of
the Steel Corporation. The latter
showed an increase OF unified orders
on Its books. compared With JaEu-
airy 10 OF 43sI62 tons. Tho Steel Cor
poration is now operating about SIS
pei, cent. Of Its capacity. There were
5000 coke ovens started in the Neon
neli&vilc district the past week. Three
t,last furnaces were pu, into commis-
sion by the trust. The steel trade in
general is much better. and there Is an
int irrational agreement 20 maintain
prices. SO that all talk Of idriff reform
Is without influence on prices OF steel
stocks.
The report or the Copper Producers
Association was cheerful because II
shpws there viii be enough copper for
the coming boom without danger or
CNtraYagant prices.
Coffee and cotton were both heavy
most OF the week, bu, coffee rebounded
sharply. and trading was Wild IN the
Commodity.
the Coffee Trust mas not been mo-
Tested ~ tho government because II
MAKES its headquarters abroad ana
does nothing III tile United states but
hold up ihe public by Keeping some
thing like 100000 bags Of the com
Inodit, out OF consumption.
Many ar the specialties arc attracting
attention, Prominent among those
making new high records for the week
wrre international Harvester. Interna-
t!onal Steam Pump ana National Bis
cult. In each or thees there was a
spcciGc reason Harvester will extend
It's hcsincss tremendously as a result
OF the reciprocity treaty with Canada.
International Steam Pump Is enjoying
The best busineas in the histor.' OF the
crrnpany the volume al present being
$50 per cent. OF tho avcra &c for seven
;Sars. II Is earning az the rate Of .
per cent on It's common stoca. Nation
-! Biscuit Increased lis dividend on the
coinn!on stock, as il result OF earnings
50 large that they conll not be with
held from shareholders. American Can
IS also making record earnings. In
fact, a surprising number OF the big
corporations have found. after balanc-
Ing up accounts for the close of the
wear. that their business has been re-
markably good This Is true Of the
railroads S we'll as Of induStriala and
has given renewed energy TO the optt-
Hlists.
On the Curb.
With the exception OF dealings in Ia
Rose, trading on the curb to day was
very light. About 5000 shares OF La
Rose changed hands on the way up TO
8. which is the highest figure 1t has sold
at for several month";
Standard OIL stock rose SIS share
on transactions of twenty egh. shares
In the Street,
Number Of shares sold to day, li5.-
oi0: a year ago. holiday. Par value Of
bonds sold to-day. sis5o.oO0: a year
ago. holiday. The Kansas CITY South
crn bonds. offered by Ladcnburg. Thai
mann & Co. and the National City Bank
arc already oversubscr!bcd
Surplus of idle cars has increased
In the last two weeks 34.05S
New York. February ll-Monev on
call nominal Time loans dun. with
demand Stacker: sixty days. 2 per cent
and ninety days. 81: SIX months. 3ls a
"a. Close: Prime mercantile paper. 4.
TO q Der cent. Sterling exchange
firm. with actual business in bankers
bills at s4.s3450 siS355 for sixty day
bills. and at s4.s63O for demand Com
mercial bills. s4.S3@sLs3h. Bar Sill
Yer. o1zs. Government bonds steady.
railroad bonds steady
,5 ----- g3t