The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-01-09

SEE THROUGH CARNEGIE
h, THOMAS c. sHoTwELL.

NEW YORK. Jan. s.--An Irregular
stock market to- day reflected the Wall
Street seste of mind in regard to the
proposed Investigations by Congress.
Copper metal was advanced to IA liz
cents, which Is a new high record.
and the traction group WAS made
strong for while on unofficial an
nouncement OF plans said to have
been adopted by the city and the
companies. Standard shares were
duh and inclined to be heavy. Even
Lehigh Valley and American Can,
which have been market leaders,
shared in the backward movement.
OF the Investigations Wall street
has In mind, that of the Steel Trust
is not considered important from
market point of view. The hostility
of Andrew Carnegie toward the Nor
gan interests In steel Is thoroughly
appreciated ananciers. and Mr..
Carnegics testimony "Wednesday VIII
be properly discounted. II 10 the
banking investigation that Is likely 10
cause most trouble and particularly
in view of the manipulation INDUCED
in recently by certain banking in
ferests not considered conservative.
Await Copper Report.
Report of the Copper Producers
Association Will be made public to-
morrow and is expected to show
more than 20.oQo.o 600 pounds reduc-
iinn Ia the supply of metal on hand
In this country on January /. as com
pared with December !. Another
important report 10 he made public,
Is that OF the census bureau OF the
government on cotton ginnings. The
steel Corporation will make its re-
port Wednesday OF the volume OF UNI
filled orders on hand January /. AS
the Supreme Court held no session to-
day Tomorrow VIII be decision day
al Washington.
Subway plans are working out to
the great advantage Of stockholders
OF the Inter Dor ough Metropolitan. The
newest report In that the Interior
ough Rapid Transit Company VIII
get s 81 per cent. on all money in
vested in suhways. both in the past
and in the future.
Heaviness of the standard railroad
stocks may be accounted for to some
extent by the severe blizzard that Is
raging over the Middle West Tho
Great Northern was the only road
seriously interfered with today, but
The storm is so extensive that most of
the ether tra nseantinsn1at lines are
hss~e TO lie influenced.
Take II. You Must
New York Central officers appar-
entity scent trouble from minority
stockholders In connection with the
proposed merger OF the-Lake- Shore
for today they let II be known that
minority stockholders viii he ignored
The plan Is TO offer to the minority
the same terms that the majority
accepts. II these terms are refused.
the merger will proceed and the se-
curities that would have gone 10 the
minority stockholders will he put in
-sH..ss~ far tl@Ia-~a4AuthaTitp -io do=this
liz claimed under court rulings OBJ
tanned In former mergers. II must
be said in justice TO the New York
Central that the terms to be offered
will he so liberal as to preclude the
idea Of opposition Oh the part Of
any but persons contemplating strike
quits
The measure introduced in Con-
Gress by the Monetary Commission
WAS not received with enthusiasm
today In Wall Street. because the only
practical change from the Aidrich
plan Is manifestly unfair. For po-
jitieal reasons an attempt is made
Z s,-refasfes central -tssH controlled
by minority Of the banking inter-
ests Of the country. This is contrary
TO square dealing, and the bill as
introduced cannot he enacted into
law
.sumber IF shares sold to-day. $50
sal: year ago. S25, 22s.
Par value of bonds sold to-day,
ss,253 Doe: year age. s3,S1T, 900.