The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-12-02
INTERVIEW; TAFT
STOCK RECEIVERS
W1EslDENT SAYS ENoEGH TO
MAKE EXCHANGE MORE
CONFIDENT.
BROKERS' ARE KEPT BUSY
EmrY ANSWER MANY QUEsTIoNs
AID MAKE AssuRANCEs'
MYSTERY OF CIGAR
COMBINATION.
BROKERS' ARE KEPT BUSY
~ raoMAs c. sHoTwELL.


a.~r1 traction companies were the most
.~.,vA .acurities tn Wall Street today.
-. .tocw market was very quiet
standard issues not being materially
~h.nrcd Al the close OF THE day.
Srrn,on Pacific. Southern Pacific aaa
ssteel were ex- dividend and lost slight
fractiou In addition to that 1hio"
Tarsnc which was ex-d dividend made
81 aiirht sain. On the caarb tobacco
nnA x,i1 stocks were quiet, l4eansa sub
nadtnrfes Of both companies are being
actually distributed and shareholders
are waiting for some developments 10
snAsfafA The value Of their new stocks
Political considerations have more
s..aaxht rust now than do earnings or
x1avidend records The uost import
aanx roiittcal Influence of today was
President Taft's interview IN when ne
roufsssed a wish that he haa been
mere careful In his discussion Oh
Payne AIdrich tariff hil Tne net re-
sas,If at hts interview was to strengthen
The feeling that there may be chanse
u administration ut Washington. This
srns therefore something OF an unset
ling influence for II tnjscts more un-
xsextaiI,ty into next years presidential
campaign.
Brokers having clients with stock OF
stha American Tobaeco Company and
the Standard Oil Company were kept
busy answering Inquiries as to tho
proper prices TO ask for subsidiary
ntOcks which will bs received fl a
lew days. Books aFe now closed Tor
4he transfer OF these stocks. Most
hs. fla Gyf
nuxxested In this column immediately
affxr the Supreme Court decision WA
rendered. that III. of holding all the
nrhstdiary stocks with the original
certificates until such time as mar
ut may be dev eloped. II stocks are
held In this way banks VIII accept
them as collateral On the same terms
that the old stocks were accepted and
This will mean no distur banca OF
loans. Only few outsiders know the
true values OF the subsidiary issues
and Ii Will take several months to
develop q market IN which the ordi-
yzary stpcknoiderS can deal with comb
1ence.
Cigar Stores stock.
Among the mysteries of the Ameri-
ran Tobacco Company Was bid made
today of 5000 share for rights" on
United Cigar Stores stock The stock
4tneif sold at Use at the close. 1t is
known that tho company will be re-
urx~nized early in 1912, the present
stock being retired for new issue
representing more nearly the assets OF
TIM concern. This bid Of 200 for the
sTigaatss indicates that something very
I ha1,dsoms will be done. Among other
s4hsngs II In understood that tho United
xsfgnr Stores Company win become Il
usAnufa cturing as well an q selling con
Nefn.
Railroad reports. particularly those
~ Pennsylvania and New York Cen.
trail attracted attention. Pennsylvania
showed small increase in gross and
Esw York Central reported materta!
eamtSt4se in n@s because VT drastic
b cuts In operating expenses on TOP Of q
small gross increas.
Railroads Econcmixe.
Railroads are learning to eonnelnize
1 scientifically following the plan adopt
seA by e. RI. Hartman several years
SjAg0, and later exploited by prominent
skttosney. The railroads are apparent
( ~ operated new with strict honesty SO
L ~ - the stockholders are concerned
md the feaiing Is growing IN Wall
Htreet that the United states govern
1nent will make a mistake II II at
#4anpts 70 control security issues by
NA EedAral statute. The idea OF tssu-
ssst1sg stock without par value as done
b ~ the Great Northern Railway Com
@DAmy II connection with The ore lands
s4na ~ strongly favored by President
#e J.. LOvett, .f the Union Pacific Ia
aycred by meet conservative bank
SI1 and railroad authorities. But il
%449 Govern1nenf were to attempt abro.
#AMen1y to control issues Of stock anf
MIQ010 n 10 believed the attempts wouif