The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-10-08
SESSI0nOF STOCK
MARKET IS DULL
Only Two Issues Which At
tract Any Attention in
Street.
BEET SUGAR GOES UP
Allis-Chalmers Stock and Bonds
Break to New Low
Records.
Especial to The Times-pispatch.,


New York, October 7.-Stocks were
only two issues attracting attention.
These were American Beet Sugar and
Ailis- Chalmers bonds. Stocks OF the
Beet Sugar Company advanced sharply
to within fraction of It's high record
price. Allis-Chalmers bonds broke TO
new low record price. Aliis- Chal-
mers stock also reached new low rec
ords, the common at and the pre-
ferred at 49, A sharp advance In ster-
ling exchange forecasted another rise
in the Bank Of England bank rate for
the coming week. This advance Of the
English bank rate 10 due primarily to
the enormous volume of American cot
ton Il Is taking.
The tobacco plan is expected on
Tuesday. The bank statement showed
substantial decreases in all the impor.
tant Items.
Activity in the stock market the
past week was at the expense OF
quoted values. nearly all the leaders
showing some declines. These declinca
however. were not important, and there
was evidence that strong, even though
temporary. support is under the mar
ket Violent movements in ether d.
rection are not wanted. The market
has discounted the crop disaster. and
great deal more. go that the strongest
financial interests are anxious TO let
II rest awhile to sec whether something
favorab bic may not develop In tho polit-
teal situation
Perhaps most important of the bus
mess announcements was a dividend OF
the rate of per cent on Rubber com
mon. AND the admission by President
Vail. of the American Telephone and
Telegraph and the Western Union Tel
egraph Company. that on securing an
interest in the Western Union IL was
discovered that some campaign con-
tributions were carried as assets in tn.
surplus account. These contributions
were small, but they established the
principle that ruled before the tele-
phone trust got control. 1t is hardly
necessary to add that the principle Is
disapproved by President Vail, who
earned the confidence OF the investing
public ~ writing off from Western
Union surplus The campaign contribu-
lions and other worthless accounts.
Great expectations were raised over
. dividend Immediately on the Amer
lean Beet Sugar common, but many
people have bought and are holding
Feet Sugar stock on the definite prom.
Use Of dividend at the rate OF pc.
cent. some time in the calendar year
lsll. There is no promise that 1t will
be declared on any particular date but
1t VIII be declared in 1911.
The Hartman properties were quiet
ready has failed, although It is stiil in
progress. Five of the unions involved
have asked 10 be released from respon-
sieility. and have given as one OF
their reasons that they fear they are
violating the sherman antitrust law
Their fears are well founded. and il
not looking for votes so hard he would
realize that II is his duty to enforce
the Sherman antitrust law against or
ganized labor as against organized
its victims.
Considerable market hesitation was
caused ny the delay in announcing ON
si may,c the plan for reorganizins the
Identified with the reorganization say
the plan Will so through practically
as ~ has been outlined.
The new attack by Attorney-General
Wickersham on the anthracite coal
trust received serious consideration in
Wall street; for II is generally believed
rates are about double the rate on
bituminous coal, and the high rates
shut out many Independent producers
In the street
Number Of shares sold to-day. esq.,
ass; year ago. 90.399.
Trading in the outside security mar.
ket to-day was quiet, and with prices
holding steady. Copper shares were
again quiet. The precious metal shares
were fairly active and strong.
New York, october Money on call
nominal. Time loans easy; sixty days
800 IA per cent: riinety days. 3l-2@
8 "a per cent: six months. 3-40I.
Prime mercantile paper. IA per cent
Sterling steady. with actual business
In bankers bills at 34.83 for sixty days
and at s4.s620 for demand. Commercial
bills. s4s2 1-2. Bar silver, SO 1-2. MeKi-
can dollars. As.