The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-01-24
lI|Ds STILL
Ire QUITE HEAVY
+ xEws o. DErnessrSG cnARACFEa
4 sss y IN CALCULATION GEN.
E1kALLY.
I VAIL DENIES MERGER
PRESIDENT OF WESTERN UNION
n ISSUES srArENENT-lsovERN
NEWT COTTON REPORT
~ FAVORABLE.
D. THOMAS c. sHoTWELI

BY THOMAS 6. SHOTWELl
NEW YORK, Jan. 23.--Aithough
Great Northern made a new high re-
cord for the movement In the early
tracing today In Vail Street the mar
ket as q whole was highly irregular
and STANDARD issues we're tnehneo
10 be heavy par,cuiar Union tscitic-
hsaoAng conlInued me ERNEST stock
OF the list. Union Pacific stock WAS
hanoeu out freely by several large
houses, while the ouying seemed 10 ne
z concentrated. Aciion OF tho STOCK
puxxieo The street and many ex-
per,a believed the STOCK was being ac-
Cnmaiate0 NY iiasiaers or pernaps ~
Morgan interests as believed IL in ths
procsss OF nQuiaauon. e.
Considerable news Of a depressing
character was In circulation. The
second section of the Report on the
steel trust ny the bureau OF curpor-
atoms nj Washington had some an
nuencs although lne street had been
expecting II ever since the nrst secs
ton OF II was pubiisned months tgo.
Several stocka have peen advance ed
snArpty In recent weeks because segre-
GatIun was rumoreo put me rseuin-
m6ndation BY tns Commissioner OF
Corporations thai the Steel trust .,egrc-
Ea&c its ra1ITuAd properties created no
! eninuaiAam. Eefhaba the reason was
that the congressional committee is In
danger OF making puoiic some OF cost
prices Of the corporation. thus Civ
Ing congress cause for sharp reduc-
t10ns of the tarIn.
&tesl Trust Has Advantage.
Since tho Commissioner OF Iorpor-
ations says that the steel trust nMS
n hA .frfa - ~ tnA ~
the extent of more than - q ton u.
0anufacturing costs 1t Ia evident that
any sharp reduction Of the tariff will
be the making OF tho trust tor thai
would destroy Its competitors leaving
1s aiune In the held. whatever does
happen Ia thus connection II In known
thai the hikh oi.cIais OF the steel
corporation 90 not appear to be much
worried over the tarln situation.
fresident Vail. of this Western
Cnson telegraph COMPANY. put an Oh, :
ctal guietus on The story of q mer-
ser OF the telephone and telegraph
companies. Tnls was undoubtedly
drawn out by the complaint mace
against the American Teiepnone Com-
pany by u justice OF the peace OF
Nestchester county. who has request
ed the attorney general to attack the
telephone company as u monopoly.
Inc otd. OLD story OF the capture OF
control OF Denver and Rio Grande,
and the Western Pacific by Rock Is
land, and the Burlington WAS In cir
ctilation again but was denied In au-
thoritative quarters. The wall street
} pubic IN beginning to question the
deuiaIs because the logic Of the sit
uation deulaIus that some deal Of the
kind be made. The Bender II the
..aHt.rol Vyas, nefnu nj thu Rock
Island and OF the Burlington. and
while close traffic contracts might be
stail.cient II felt that the speculative
possibilities ARE too great to be over
looked by the Rock Island people who
are now in the full flush of another
stock market victory. The Northwest
ern Railroad denies that there II any
Idea OF scvering the existing traffic
arrangements with the Union Pacific
Await ST. Pau1's Dividend.
81. Paul's dividend will probably
be acted on tomorrow. and while
there are expectations OF reduction
reasons for such expectations than
fhare were two years ago. Therefore
actual declaration OF the dividend II
awaited with much curiosity.
Favorable influences or the day
were the official announcement by the
government VI ginnings MP to the
night Of January Is. showing H.
kIt.e7s bales OF cotton actually GIN
ned and announcement that other
wire companies had followed the
American Steel and Wire In advance
ing prices 81 q ton.
Announcement was also made that
the Gary mills are operating at the
efoafest capacity at which they were
ever run.
Tho New York Stock Exchange has
arranged TO give special quotation to
tax exempt bonds. apparently on re-
quest Of J. p. Morgan Il Co. Morgan
4 Co. have paid tho tax on many
millions Of such bonds tor their
clients and the volume OF this class
Of securities has now become 20 large
rs to demand separate quotation.
Bonds are made exempt in the State
OF New York by making payment
or offsai,siS "uf' + per cent 41' ~ - =
Number OF shares sold today. 337.-
3s2; year ago. Soa.75S; par value
Of bonds sold today. tA.soo.ooo; a
year ago, Ts,0I7. 900.
New York Money Market
NEW YORK, Jan. 23.--Noney on
call ut the Stock Exchange today
opened at c1-l per cent; highest,
43-S; lowest, o: closing Ia per
cant. Most OF the days loans were
nAde At ALL per cant.
II here u little doing In the time
money market Rates are nominal
at 1t per can't. for sixty days: 2 "a
per cent. for ninety days; per cent
nix months, and 3 3-4@4 per cent
for four months: 863l-< per cent