The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-09-30

about thu only country In the world
TO have bauntifni harvests this year.
Market Opens Weak.
Stocks opened weak but quickly de-
Yeloped considerable strength Steel
and Union Pacitics assum cd leader
ship and most OF tho professionals
began operations in expectation Of 81
continued advance for several days,
Many persons who have seized In the
collapse earlier Ia the week began
taking profits on this advance, and
this encouraged further short sell
ing American stocks freely. Then
came d report of a sharp break In
Berlin stocks. A small bank failure
Was announced IN that city, and half
an hour later came the announce
ment of war.
The decline In Berlin was due to
selling for the account Of persons
having advance information OF Italy's
intention 10 declare war Stocks did
not decline an average of more than
half point after the declaration was
made and business WAS not more ac~
tive after the declaration than be-
fore.
The net results of the days opera
tions was slightly lower level Of
prices with ali incidents eontribut-
ing 10 the theory that the rally that
has been forced on the stock market
In purely technical. There ia little
doubt that the strong interests sup
porting the market viii feed out the
stocks taken early In the week to
prevent panic just as soon AS they are
able to do SO.
What Taft WIN DO.
Discussion OF President TaIt's Wa
terloo speech continued. and his
statements were not regarded as very
reassuring Taft notifies tho trusts
that he intends to shoot them, but
he promises TO pull the trigger easy.
Union Pacitic's reorganization met
with general approval. Long distance
management has becoEft unpopular
with business men, and the Union
Pacific. recognizing the growth OF
this sentiment. has wisely put itself
in position 20 deal first hand with the
public through all It's departments.
Judge Loyett has put himself in po-
sitton to handle the big problems OF
the Hartman lines with greater de-
liberation and precision. BY putting
a responsible head in charge of each
road In this system he has made pos
sible quick and authoritative solu-
ton OF the many problems peculiar 10
each locality. His search OF men
Tor presidents is convincing proof OF
the good judgment exhibited al head
quarters, for every one Is recog-
nlzed expert. Most Of the difficulties
that have harassed tie Hartman
lines In the past are disposed Of be-
cause under the new system they will
receive attention SO quickly that they
VIII not have time 10 develop.
American Tobacco.
Securities Of the American Tobacco
Company had another day of activ-
Ivy, and per cent, bonds in partic-
alar rising sharply, Protest against
the proposed plan OF reorganization
made BY Independents was dlsregarded
by the stock market. Further details
OF the dissolution became known. and
among other things il was stated tina,
stocks OF the United Cigar Stores Co.
which liz owned by the trust. will he
distributed TO the stockholders as a
special dividend. This will make the
Nlgar stores Company an tndepend-
emf institution. 1t Will then begin
manufacturing cigars. and all other
products II deals In. TIE comnanv
mas already planned nm aggressive
campaign. so-called independents ar
Which II Will be one.
Number of shares sold TODAY rav
sIs, year ago, 452.44s. Par vain.
OF bonds sold: To-day. ss.44f. 900, a
year ago. s2.5ss.ooo.