The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-02-17
STOCKS WERE DUEL,
REASONS LACKING
WALL STREET UNDER THE INFLU-
ENoE OF ONE OF ITS SPELLS
OF NERVOUSNESS.
PROBES ,IONALS SELL
ANNOUNCEMENT Is MADE THAT
FIVE MILLIONS WILL DE
SPENT on STEEL
MILLS.
Il. THOMAS G. suoTwELL.

bs THOMAS {. SHOTWELL.
NEW YORK, Feb. te.---stocks
were duh ana heavy today. steel
ana mon Pacific were pressed Tor
sale. some snow of 81 cnsth was
made III the coppers. ekasons for
this duliness were lacking. Inc street
seemed 10 ne under the influence OF
one OF those peculiar spells OF ner-
Houtness 10 which It aas become SUB
lit recently. Some professionals
Mere seAinS openly. Among these
the Baruch interests were mentioned
4 ms selling was suspected IN some
quarters but experience there proved
that iSi uGe is Always doing exactly
what he seems to be doing. Exactly
cess Is due 10 his audaeious honesty
anu habit OF doing everything openly.
ASIDE from this the street had nothing
to worry about except everything that
has already been worried to trazzie.
Millions In S,e.ss Mills.
ANNOUNCING that Cortisan. Nc
Kinney q Company. of Cleveland.
will eApend s5,oVV,0oo at once on new
steel mills in Ohio. caused more com
naent than perhaps IL deserved. The
street accepted this sta cement as
signal that the independent mana
facturers with small ea pital. and with
fAed charges propoftioned 10 their
actual inv estmenta. could make hand
some pI oils with steel products even
al the present low prices Further
extensions by other independents We're
ruInored
Danger OF a strike of anthracite
coal miners Is gradually fading away.
Very few persons in tae financial dis
i4-ict have any apprehens.ons on that
score at all. They believe that the
~os kman could not get any materially
better terms than they are now ENJOY
Ing. I he operators are willing to re-
new the present arrangement when
the contract with their men expires.
and the talk being made on both sides
is nothing more taan the preliminary
biu1ing that nearly always accom-
pantes agreements between employers
and labor unions.
Stocks OF Copper Metal.
An Gf1l-rt - l-tils 44.tsss. the
pui lie impression that stocks of cop
per metal on hand viii show as great
reduction for the month of Febru-
AIRY As they dId Tor January, but moth
Ing OF the Kind IL probable. AS ex-
planned in TINS column some days ago.
the heavy reduction III January was
due largely to the shipping eut OF
metal purchased in December and
November. The Copper Producers
Association does not subtract the
fnetal from It's report suntil actual
shipment is made. This fact &C
counts FOR the i'm possibillty Of Keep
ing line on stocks by watching the
sales.
Double Track Erie.
Erie Is 10 be double tracked 10
Chicago. This will be done with the
new monay about To be raised Fol
lowing the Hartman example. Erie
has been putting In extensive side
tracks for several years SO that only
about 2on miles Of new track will be
necessary TO connect these sidings and
make them main track. Development
of Erie has been remarkable In the
past Eve years and the patient stock
holders OF the company may get
their money back after all.
Development CT railroads in Canada
was emphasized to-day by the state
nent of vicepre siden, Of the Cana
dian Pacihc, who says there are ST.
100000 bushels Of wheat In Canada
that the railroads cannot move. De-
yalopment OF the country has run
ahead or that of railroads The farm
acreage under cultivation has by otia-
cial record been increased IS per cent
IN Inc last ave years. Reciprocity
would have brought millions of hu-
shels OF this wheat 10 Chicago To the
great financial advantage of Cana
uab farmers.
Announcement Of $4,000. 900 Jap
anese loan found many investors in
America ready to-day 10 participate
american Investors have made con-
siderable money out of other Japanese
issues. u Is true they sold them
quickly, bat at profit
Selling steel Short.
Everybody In the street is selling
steel short as an investment That Is
what they did in 1907, and that is
one of the reasons ii vent to 90 A
considerable Increase OF business and
especially of earnings is expected far
the first quarter of this year as com
pared with the the last quarter OF
1911.
Crop reports to-day We're remark
asste for their excl e.tee. ;rae, hsars,
rafrs 'frGve put the ground every
where In good shape. and the deem
SHOWS OF the winter have brought the
winter wheat through In the best
shape. known.
Wall Streets contribution to tho
literature OF trust busting consisted
to-day OF another record advance in
stock of the Standard on Company
OF Indiana. The day before this stock
was $4,000 share bid. hut to- day
5Isot WAS hid Without getting any.
In the street. S1frnber Of shares
sold to-day sas.s5sf "a year ago 3So. :
1908.
Par value OF bonds sold TODAY ss
o3I,o00; year ago S29740Oo