The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-03-05
SHARP BREAKS IN
FEW .SPECIALT|ES
Aside From That, Market Did
Nothing but Wait Tor
News.
TRADERS ARE DEsPoNDENT
hey Had Hoped That Extra
session OF Congress Might
Re .Avcrtcd.
Especial 10 Tho Times.pispatcn

Especial 70 The Times
New York. March IA Side from
shtrp breaks in Il few spcciaItics the
.tock market did nothing today bu,
N.Y. ioi news from Washington IL
iiau rioScd before Congress adjourned
ana q hopc that an cNti;, session might
PC aN"rtnd caused a fecbie rally IN the
ny, 'cNy minutes OF trading the great
4 podS Of traders Quit the Stree; in i
respondent mood hecausc OF tic AZ
/, pecGiion OF an "Htr;i session am! Of
ueclSlons from the supreme Iourt OF,
Moinay IN tn. tobacco. OF ana corpo-
'" ,i'"h IAN cases.
MS iccitng u unca sincss VAS in
.ich"ch " the announcement, that tho
national City Bank hAd Increased itsi
palN ncw has more than St4.oVp,oo1
SPOT 81 81 in It's VAULTS against Deposit
"i . illhr Oyer 81 HS,0QG.Vuo. There Is
FNch 2 vide gap between tho ,as
nild tho ~ per ccnt reserve of III
hcarcSt conHictitor that III the ,in:ll,i.j
A,Hrih u Is tclt Standard Oil interest
Ere preparing for something uf trr.
iiendons Importance. national city.
sank oilic'ais deny that anything untis
$uhi is In view.
United states Rubber stock broke
from > 70 ~; Central Leather. from
~ 10 - IL federal Mining declined
r, - POINTS. and central OF Naw Ict.
hoS. ~ New iork Central sold down
=. ~ " HIGH Is tDG low price touch
- IN nc col:apsc Of last July. Steel
SOLD at ,i5s, which ia lower than il
went after tie freight rate decision
mon Pacif!c also went lover than it
niu On thas decision, selling at.l7O3-i
While tic little people seem great
#iS DISTURBED over the prospect u
Iahs.lal session Of Congress tie I'm
i'"riant !inancicrs remain cultnlv on.
inihttc and look upon stock ,t,arkn,
4cniinca Simply as opportunities 10 ptcls
w pnrsains lhey advance scverai
Tic5 I" support ;hcir market posi-
ton pnc. OF the most intercx ling Of
liHsc Is tina, given by * X. C;uggen-
icini. who is an executive ana director
OF inany companies producing precious
'i,lt" OUTPUT Of gold SAYS Mr. c;ug-
rcnhrin, 'IAs been picnomonaIjy
i4rse for the last generation. and Il
nov =. Sr.at as eyer with prospects
even higher fer an indefinite number
~ years. THIS output Of gold has no;
made ~ fun IMPRESSION OF money
rates and on general business bccaus,
4 ycry large rercc,i,are OF it'has beer
diverted III the last ten years into ia.
li'ilai treasures II Is Impossible To
tlNe. cNhct figures measuring these az.
,hntuiations hut the total OF gold sub.
ITO .oycrn;nent reserves amounts 10
ilsny hundred million dollars
In the last year II has became am.
parent that these reserves are fnIl, and
that the production OF gold is gong
more largely into active use in tho
aEts or as monoy y IS - though
rircr ila1 hcen flowing over a course In
Which many depression Mad suddenly
aDpcared and these dcpro.siuns had TO
he llcd up before he water could rise
asain 70 It's nsuhl lcycl ana present
ita normal powpr The flood Of .sol,I
reinforced by thoSc vas; reserves wilj
now sweep onward into ali lines OF
business and quicken trade ana COM
nicrcc everywhere.
HHH''Tnr effect VII he in my jtdoinnrt
that the railroads will Sell Securities
III short time on A 3i-2 pcr cent
hasce, instead OF raging l-2 per cent
and pcr cent tor money, ae at pres
CIT THIS VIII give the railroads h
fhanSe 10 make vast improvements
cycn Il the freight ratcs arc not III
est caused by cheaper money NiIi az
rcnnCo TIC tiNcd illtercS, ciiaraes ~
20 tia &c the question Of improvements
very attractive.
stocks nave been hishly irregular
INC past week partly on account Of
,nn unscttlcncnt caused by tho freight
rats decision and very largely Oh nc.
count Of the poor railroad earnings ana
Congress. Professionals attacked ,ba
market several times during the week,
notably on Monday, Wien Supreme
Court decisions mere looked foI. in
yam. aud on Thursday. London sold
freely on every rally, ana ii was Tie
Scncral beliof that foreigners we're
thh!i5 plptl'S OH Iiit stocks purchased
IN the break the previous week. y.hnD
TIC freight rate decision WAS an
5nounced.
u. II Cary, head Of the Steel Trust
returned from q vacation ana c;.v,.-
cut some ycry optimistic statements
regarding the condition OF business lie
SAID that ordcrs had come in during
February IN larger volume Than III
January. Other steel men say that
While the orders have come in larger.
volume, the Increase OF unified u,
dera viii not be so large as in jam
AIRY. because the mills are being oncr
,ntcd At greater capacity than thev.
We're in January.
On the Curb.
Although decision is expected in
the American Tobacco ease on Mon.
day, stock Of the corporation MAS lirr1
to-day selling as high as iiG. and
closing there
Trading WAS light aboti; Tile mining
shares. Yukon Gold Was firm on an
nounccmcnt that the COMPANY ha,l
made material reduction III its Dcr-
centaGc OF operating expenses.
In the street.
Number Of shares sold today. .Ti..
ago. a year ago. ia2.i47 Par value of
bonds sold to-day $l.S33.0oO: (, vcnI.
ago. Tl.5l3.0oo. Tho ST Paul has soIL
26,o0o,ooo OF tho Chicago Milwaukee.
-. -. : - 49,