The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-02-28
STOCK MARKET IS
Dull, BUT STRONG
SETTER FEELING EXISTS IN LON
poN OVER LABOR SIT
UATIoN.
BIJFFING GOING ON
THERE ARE INDICATIONS THAT
MANY SUITS AGAINST COR
PoRATIoNs WILL BE
DRorpED.
Nv THOMAS G. sHoTWElI,

b, THOMAS c. SHoTWE1ds.
NEW YORK. Feb. s7.-AlthouGh
the stock market was extremely duh
tcday. 1t showed considerable
strength This was due largely TO
the fact hat the short interest is
overexteuded in a few stocks. partic-
uiarly In Steel and Union Pacific. Be
sides the trade condition IN copper
rs good, and better feeling exists
in London over the labor situation.
Negotiations that have been under
way for three weeks for "A settlement
Of the coal mine dispute in England
are largely formal. an agreement
having been reached two weeks ago
q make Il settlement. The same con-
iision exists IN regard to the Ameri-
can coal miners. The leading men on
both sides understand one another
psrfeetiy But II the agreements
were reached too easily, the ordinary
miners might think they were being
betrayed by their leaders. and there
fore q great deal ct public bluhing
II deemed wise. A few isolated COM
panies may refuse to come into the
agreement thereby causing some
small strikes. but even those may be
. part OF the stage setting
Wall street observed with some sat
prosecutor in the bath tub trust cases
had asked to have the action dis
continued. apparently. because he felt
x that the governments evidence Was
nat sufficient to make out Il case
] Bankers are wondering how many
D. OF the thousand or more actions has
tiIv begun against the corporations
and pools by the government will
have 10 be abandoned on mature con-
alteration. The government Is not
applying the same rule TO all cor
4 porations
Standard OH Doing Well.
Success of the governments move
ment TO destroy corporations IL shown
: In the market for Standard Oil stock.
for which s.a5 share was bid nj
the close today. This is the highest
price In ten years. II Is more than
42ee a share above the price last
summer As q. busted" concern
Standard OH seems TO be doing very
we'll.
Ii Is now proposed To have the
government begin another action
against the Standard OIL TO see
where the owners of the individual
pr1 per,iAs that formerly made up the
trust shah nave the right to admin
lister their own property as they see
III. This new investigation Will reach
the real problems involved, which lis
the right of private property.
While the government is bringing
futile suits against corporations that
have acted publicly. and under the
shadow Of the administration. tho i'm
munity enjoyed by the coffee trust
and the copper producers has cncour-
aged producers Of silver to plan a
yalorization scheme for the white
al fS "a tHxp hzN
should not put silver TO rs cents an
ounce. All they need do is make the
agreement in a foreign country.
New Lirht ON Big Rail Order.
New light was shed today on the
Great Northern rail order. The Great
Northern placed orders for 1900
tons Of rails recently. and gave none
1 of them to the steel trust. 1t was
thought at the time that James J.
Hill was Withholding business from
!. the trust. because the trust had cam
/. ctled the lease for the Great North
ern ore lands. Now there In evil
dence that the trust was left out at
It's own request, because II refused
10 guarantee rails for certain num-
Der of Years. The steel companies
have been blamed unfairly for broken
! rails The rails are made on orders
Issued by the rsilr Dads, and under the
4 direct supervision Of chemists and
other experts employed by the rail-
roads The steel companies simply
furnish the material and facilities.
and the rails are made by the roads
/. themselves. the exact percentage of
carbon and the exact measurements
and weight being absolutely fixed by
the purchasers. The reason better
rails are not made is that the rail
road experts do not seem to know
how to make them.
Formal announcement Was made
III the passing Of the dividend on
Republic Iron and Steel preferred.
The result was break 20 new low
levels. and then slight recovery.
Traders do not see any reason why
Republic Iron. which docs not earn
N divtdsnt, op ,, IT, ,nreSeErsd d st.escJk,
should sell for more than Bethlehem
Steel preferred. which does. Decla-
ration Of the regular dividend on
Central Leather preferred was a sur
prise. According 10 the reports. the
company did not quite earn its divi-
dend.
Number of shares sold today. 174.-
$50: year ago. 337.492.
Par value OF bonds sold today,
1857. 200; a year ago. &2,47s.0oo.