The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-10-20
TRADE REPORTS
ARE FAVORABLE
Without Exception, Industries OF
Country Are Going
Forward.
sooo BANK STATEMENT
Stock Market Considerably More
Active Than Uusual in Sat-
urday Session.
lspeeiai 70 The Times D ispateh. ]

Especial 70 The Times -Dispateh.J
New York, october lS.-To.day's
stock market was considerably more
active than Is customary on . satur.
days short session. London sent over
a large range Of prices. but after early
trading here the trend was upward.
and practically all the standard specu-
lstive shares closed with fractional
gains. Closing prices were at or near
the high point OF the day. and the en-
tire market plainly displayed substan.
tai strength.
The bank statement. ~ was expect
ed. showed q large expansion In the
loan account. this being due primarily
10 the purchases Of stocks sold for the
account o( England and the Continent
In the latter part Of the previous week.
The Increase in loans was $12.lS5.0Oo.
but this was partially Offset by an in.
creas. Of $le.seo.0oo in cash. SO thar
the decrease In surplus reserve was
only a little more than the incense.
auential amount OF 100000. In View
Of the great strain imposed upon the
security market by Generalization
abroad and the prominent part by the
New York bankers In staying that
Generalization. the bank statement
could not be taken otherwise than an
Unexpectedly favorable exhibit.
The customary weekly trade reports
snd statistics were favorable without
exception. Conspicuous among them
Was the compilation OF bank clearings
for the week. showing an increase OF
1913 per cent over the corresponding
week last year. No more favorable
comparison has been presented In all
the many weeks OF the current bust.
ness Improvement. and IL was notable.
moreover, that the large cities In var
ious sections reported increases. New
York led with an increase OF 80 3.l0
per cent, but Boston. Philadelphia and
Chicago were not far behind. with in
creases ranging from ass per cent for
Chicago TO 2s.s for Philadelphia The
figures testified eloquently to the re-
markable volume OF business transact
ed In the country 1t present. az COM
pared with the volume OF trade only
a year ago.
Railroad trafac Is shown by the fort
nightly bulletin Of the American Raii-
way Association 10 more active than
at any other time since 1907. It would
be more active were the railroads In
position to handle all the trafdc now
Offering to them. In the two weeks
ended October 10. the period covered
by the report. the net shortage OF idle
cara on the railroads of this country
and Canada increased 1876. bringing
the total shortage 10 3l.57s. There was
an increased demand for coal cars. but
the greatest need was for boz cars In
the AGRICULTURAL districts the net
shortage Of box cars increased from
$4,000 TO es.oB0 cars. The figures give
point TO the contention Of railroad
managers that higher rates are neces-
sary IL the carrying trade OF the
and adequately.
On th. week stocks advanced about
a point on the average. and much moro
substantial increases were made in the
tobacco shares and other specialties. The
copper group benefited from the recovery
OF the copper metal market In Lon
don. and from the increase OF the Anal
eamated Copper dividend from 10 3
per cent. Foreign liquidation was ab-
sorbed more readily than ever before.
and the market throughout. though
buIlish den onstr ations were d1scourag.
ed. gave plain evidences Of substantial
strength
In che bond market there was also
considerable Improvement. though the
active employment OF funds in bust
ress and the prevailing nrm money
rates discourage the hope OF an early
Improvement Of great proportions Re
ports from all branches OF trade DEM
onstrated a continuance OF the business
IMPROVEMENT: the reports from the
steel trade and from the agricultural
sections being particularly encDurag-
inx The railroads have all the bust
mes. they can handle. and generally the
business As we'll a. the markets OF the
country have passed through a period
Of grave disturbance abrosd with
sauanimity and composure.
Wen Street C0O0.
Apparently a large part Of specu-
,at,ye Wall Street at the present. al
though holding a cheerful view Of the
prospects Of the stock market, never
tbeless is prone to believe that the
international list Of stock may very
well be expected to lag behind the
rest OF the list In the event Of any
upward movement which may happen
in the near future. II 10 potneed out
in support Of this asEuOsnt that the
5 so-oaiied specialties are to large
fec, the international lis3s. and that
the relative strength Of these stocks
IL more or less logical
A strong reason for caution b the
case OF the iuterustlonals - sajd to
he the possibility that develoDDsuss
in Europe nay ieaA - ony ttO0 - .
renewed outburst Of Iautdstion On tie
mart Of foreign holders Of or -.
curteies. Union Raci0c to-day. never"
,helese. was . notably strong member
Of the Saseru1uena1 list
The forsuightly bulletin Of the Amer
lean Railway Association teSeioea %
the increasing inability Of The rail-.
rosAs Of the country 70 take care %
shtppers' requirements With the1r oree.
eat SQutp0eaG The repest states thos
on October - there was nee eeosse
are Of 3i.ssS In Sdle cars 1hso - IN
iocrease Of over l1eeo SaSo evsr the
net shortage Of the Ursv5svs Sestss0o&
The uuuIbeS of tl1e cos0 - toe 0yo0D
Q1A N0A02YOA 9TH 81 .