The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-11-26
STOCKS WITHOUT
MATERIAL CHANGE:
During Past Week Some New
FIigh Records Were
Made.
RAILWAY EARNINGS GOOD
Equipment Ordered Very Freely
Since Prices Were
Reduced.
RAILWAY EARNINGS GOOD
Especial 10 The Times-Dlspa,chIl


Kew York, November 25.-Stocks
were quiet to-day. closing without ma
tcrial change. Third Avenue continued
making new low records, breaking
through 81 Il share. The new stock
and bonds sold down TO level repre-
scnting value of only az share
Tor the old stock. The bank statement
showed IL loss in surplus reserves.
Cotton was lower. Railroad reports
showed material increases OF gross.
Stocks have been active. and some
na~ high records for the movement
have been recorded the past week be-
cause of Improvement reported In sew
eral departments of business Copper
metal has advanced to IS cents pound.
after long period of profound de-
preston. Railroad earnings continue
around high record levels for the
gross. und the steel companies report
constantly larger orders. Better bus
mess in coke is reported.
Segregation stories were current
throughout the week. these being re-
vsved by the fact that the Atlantic
Coast Line increased its dividend TO Z
.'er cent. and that an extra dividend
VIE paid by tile Qt cen and Crescent.
al the Southern ra lroais are iook'.g
Up. as a result Of tue REM. kably lnrge
cotton crop, which has increased earn
ings OF the roads. but which Us going
to market at a price that will net the
farmers s300,0o0.000 less than the
smaller crop OF last year. Rumors
soon on Erie nrat preferred and Frisco
second preferred.
In connection with the advance of
copper metal TO IL cents, great actlv-
ity wag displayed ny the copper stocks.
hmalgamatcd being put up sharply.
Leadership OF the market be- the cop
per stocks was disapproved by profess
sional traders. and toward the end Of
the week they were allowed to drop
back. although maintaining their
strength. while Union Pacific and steel
were made the leaders The segrega-
ton story in connection with Union
Pacific was denied as usual. and there
is no evidence that anything OF the
kind is contem plated.
Railroads have been ordering equip
mcnt go freely SAce prices were re-
duced to their prescn, level that all
the steel companies arc reporting a
material increase OF business. The
Steel Corporation. which reports its
volume OF untitled orders as OF tho
nret of each month. will show ma
tcr!al increase, although il is working
IS per cent. OF its capacity, II is un-
derstood. however. that the trust is
making only Sc ton on its produce.
II Is barely earning It's dividend. II
that is true.
New York. November a5.-Call
money. ruling rate. al. per cent
Time money: For sixty days. Sl-4N
ala per cent; for ninety days, 3l-i@
el-2 per cont; for four. Ave and six
monshs. S1-c per cent. Easy and dull
Commercial paper: Prime sixty days.
xI4l-2 per cent: ninety days +Gil-2
per cert: four, ave and ak months.
i1-oGi3-+ per cent.
Foreign exchange market; Cables
quoted at s4.s7d sl.s7o5: demand ster
ing, s4Se65Q sis6To: francs. i5.1T l-c
less 1-ls; marks, 90 i-s1 IS is plus
i-32
Foreign markets: Diiscount-London.
s-l6@35-s per cent; Paris. al-2 per
cent: Berlin, 4 Ia per cent.