The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-01-01
. T .
CLOSING SESSION
is UNEVENTfUL
Nothing on Stock Exchange to
Mark Old Years
Passing.
AN EYE TO The FUTURE
Coming Twelve Months Will
Bring Many Important
Developments !, -
AN EYE TO The FUTURE
So. -
Lsneclal ID rhe!Tl,iies- plsna tch..h.

tSpeClal 10 iiles ltncs.rLISliA tSHrfi.s
New York. December, 81 The iclQs-
Ing session Of tic old Near, was nm
evcn,lrl. Less than 100000, sltarcs Mere
unimportant. The ,Lpiidoil market was
lower for Americana and some re-
cessions took place IN a few of the
leading shares in the local market.
:-cst changed 3pimiohsf .e'*- Tfen, prn- :
1cssional interest IN the -irococdincs.
The bank statement showed de-
crense in reserves OF S%7lo.oo0 in the
actual statement. THIS was largely the
result of about StI.0Uo,o0h increase III
deposits The increase in loans as Of
Slo.i5l.0 600 was merely Incidental 10
prepare tons by trust companies for,
ycnr-cnd statements, and the transfer
Of loans from these institutions 10 the
clearing house banks.
Tho years gross railway earnings
have probably exceeded any in the his
tory OF the country. but from causes
the net revenue Will fall short OF last
year This much seems assured though
calculations are now based on only
the last half Of the calendar year
supreme Court decisions on the stand
ard Oil and American Tobacco cases.
and determine the scope OF the Sher-
man antitrust iaw as applied 10 the
organization and administration of
these corporations. These decisions are
looked forward to with interest in
prchens;on Tho lower cnuTt decision
IN the anthracite eases has been taken
TO mean that whatever the supreme
Court may decide in the more i'm
nortant cases before that tribunal the.
result has been prepared for. and no
disturbing change or reorganization
will he found necessary.
The pricc lavel IN the security mar
ksts cannot De regarded as high With
Tho averns. Interest and dividend re-
t1rnS standing rs ~ present. NotWitll-
standing many warnings and pessimis
Tie forecasts Of what is likely TO hap
pen during Tho coming year. nothing
n present arrears 10 Justify belief
in reduced dividends az changes OF
drastic character III net revenue re-
turns TIE labor situation is vet I'm
settled, as Is also he rail rate rucs-
Commerce Commission Much hanes
on The settlement Of tls last problem.
bit Wall street. feels confident tha. a
fair and impartial decision wilt he
reached which ,vill enable railway cor
lrorations - continue plans Tor extern
sion and constructive betterment OF
sEith he balance q trade turned
thrcrsh enormous exports Of cotton.
and also following reduced imports ~
kci promises 10 be- easy. With abGnd-
ant funds FOR all Purposes during the
early days Of the coming Teer 4 sooi
me heavy holdings OF syndicates and
underwriters have found their WA
into permanent investments.
In tho Street.
Number or shares sold to-day as.i50;
wear ago. holiday.
Tar value Of bonds sold TO-DAY. ST.
$4,000: year ago, hoitday
Production OF copper in this coun,-r
Increased per cent, In 1910. This
compares with gain Of nearly y i,cy
cent. in 1909. The total outturu Of
the metal in 1910 was l,iis,4Sasol
pounds, an increase of over .3.600.600
pounds compared with 1909. The in
crease would have been considerable
larger but for the adoption Of the cur
tailmcnt policy
On the Curb
Mining shares on the curb to-Ga.'
We're devoid OF feature. Tie holiday
spirit prevailed, and brokers gencrallv
showed little disposition 10 trad.
either way. Miscellaneous securities
were Very quiet. American Tohac1o
was tho strongest issue, gaining 3
points to i.15.
New York. December 3l-AIonev on
call nominal. time loans dull .txtr-
day and ninety-daY. "a pcr cent,
sis months. > 3-46i per cent Prime
mercantile paper i 10 TO > per cent
sterling exchange strong, with actual
business in bankers bills at s4.saFt
SiSee5 for siXiy-day bills and at
St.s520m StSSa5 tor demand CONNER
ciai bills. st-si 3-sIsi.Sl us. Bar sill
Ncr, % is. Mexican dollars AZ