The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-02-28
Ne Y ork
Stock Market

2s New York. February 27.-Little pro-
srsss was made to-day toward recov-
lry from the sharp setback which the
stock market received last Friday fol-
lowing announcement OF the fre!gh,
B rates decision. The undertone was
4 good throughout most OF the session
and prices worked up gradually. after
heavy opening showing general losses
from Saturdays close. running TO
point iii Reading, Northern Pacific und
Erie. Late in the day, however, the
market cased of and most Of the gains
Mere lost.
Declines at the opening presumably
Mere tile result OF efforts to dispose
CT stocks acquired at Fridays low
prices Owing TO the possibility that
decisions III the antitrust eases might
&c announced by the supreme Court,
traders We're reluctant to buy, and Of
fcrnss were accepted only at sub
stantial concessions. When it became
evident that there was little oppor-
unity for liquidation tho pressure TO
sell was relieved ana the Improvement
set III. Word came from Washington
shortly after midday that no decisions
in the antitrust cases were looked for
here. and bull traders bid UP stocks
for time. United states Steel was
forced up TO point apovr the open
ing, and the general list was lifted
q to level which showed light net
gains. but pressure to sell in tile final
dealings LETT the market With few
gains at the close The day Witnessed
an accession to the ranks or the bears
but that faction displayed more than
usual caution. the course Of the mar.
# ket having seemingly demonstrated
} that stocks are in the hands of those
Well competent TO hold tnem
Developments OF the aay gave furth.
or encoura cement TO the belief that
the railroads are experiencing I'M
rrovement of conditions The rcadi-
\ ness With which London's allotment OF
St Paul and Kansas City bonds was
absorbed strengthened the opinion that
american securities have lost none OF
theig value in the eyes or European
investors. Announcement was ma de
r Of the sale of the Erie roads 81, 500 900
issue OF. gold notes The Chicago. Mil
Waukee and Puget Sound Railway. it
was learned, is to eNpend several mil
lion dollars for Improvements. and the
d PENNSYLVANIA made known its inten-
ZION OF proceeding With work on new
equipment decided Upon before the
rates decision vas announced Still
further indications of the Improvement
were contained in January railway re-
ports, which recorded increases In net
earnings for the Rock Island. Buffalo
Rochester and PittsburE ana Cincin-
natl. Hamilton and Dayton.
lme money rates We're slightly
frmer although cali money was offered
at per cent. late in the day.
directors OF The Sears Roehuclt com.
pany declared stock dividend OF
SS l." per cent. following nuthoriza-
ton of an increase in the capital from
$4,000, coo 10 s4o.0oO.0OO.
Bonds were steady. Total sales, par
value, sl93l,0o0 United states bonds
were unchanged on call
Total sales for the day. sci, 400
New York, February 27.-Money OH
ga setal!!l STEADY; lGo 10 per cent: ruling
rate II; closing bid. q offered at
-. Time loans firm; sixty days.
2 s-i@$ per cent, and ninety days
GAYS 30 IL; six months. -2Gis al.
l'rime mercantile paper 4G74 10 nor
sent Sterling exchange steady, Win
actunl business in bankers bills mt
500 q. Si.s4lo for sixtyday bills. ana
at Si.S6Sn for ia,napl