The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-02-18

D
3 10 interboro- Met. pfd........ sGss 81
speculation wan discouraged, just az
for years speculation has been dis
Outraged in Lackawanna on the stock
exchange. No one VIII buy on tho or
dinary rnarBain or go short OF a stock
which may nuctuate twenty points or
more between sales But since the dis
solution tho prices OF many Of tho
thirty-four subsidiary stocks have en-
Outraged speculation. and trading In
| them has become constantly more ac-
tive. The curb remains the only mar
kct for them. but orders come from all
over the country Among the busiest
I houses in town are those with special
lists in these securities. One of them
has established "A special wire service
with seven interior cities.
The only feature OF .hc speculative
transactions on all the exchanges to-
day was this lively trading In the oil
stocks. The stocks have advanced al
most without interruption since tho
FIRST quotations were made and TO -da :.
tho speculation WAS rampant under the
, stimulus of Two more dividend dcclara-
tons.
Union Tank Line. for instance. OPEN
cd at SO, and closed at 10 Anglo
I American advanced from II TO -. In
diana Pipe Line opening at so. closed
at 20. and crescent shot up from SIS to
81. Tho two dividend declarations
were by Crescent. which is TO pay
$3.50 on "a par value OF $50
share. and by National Transit. which
WI pay 20 cents on par value OF
3e5. The last sale OF the subsidiaries
en- bloc was at 335. To-day the bid
price was ii5. and the asked price.
430
rs 1t bear house, was a ques-
ton that came irresistibly TO t4.e lips
when IL became known that Theodore
Roosevelt. Jr.. was to enter the en-
pioy OF "A banking and brokerage nrm.
! After tho close OF the market tho
officers OF the Consolidated Exchange
fancicd that The dag on tho little
board had assuaEcd the sting OF the
accusation tina; prices there arc in
var!abiy governed by transactions on
the big board. They pointed proudly
] 10 tho fact that the Consolidated to-
day had transactions in I'VE fairly
prominent stocks in which nothing at
all was done on the big board. The
iive were Missouri Pacific. Chesapeake
and Ohio. Dlstillcrs' Securities. West
crn Union and Western Maryland. 1t
was noted. however. that all the trans
actions in these shares were ordered
lots. so that the public may still con
t'nue To regard the stock exchange
quotations as the determining factors
on prices.
| Financial relations between this
country and Canada grow constantly
closer. New York has financed several
! Canadian enterprises in recent months,
and there has been one instance OF
Canadian banking house financing a
railroad--thc Wisconsin Central
which is situated In this country,
though controlled by the Canadian
Pacific. In accordance with these
closer relations business in stocks be-
tween the two countries has increased.
many New York houses having Ca
madam branches and several of them
having membership in Canadian OK
changes.
| Lounsberry &c Co, a New York Mon
trcal house. reviewed the week on the
Montreal board as follows: Trading
has been comparatively quiet, in SYM
! pathy withoutsidc markets There was
some activity in the power securities
! on news that amalgamationS were be-
/ ing considered and that batter working
| arrangements were being prepared
! Trading in bank stocks was n feature
ing from 162l u TO l73 on light trading.
! with any good news from the outside
local prices would easily advance"
| There has been a little connrma ton
about the renewal of the sie,0G0.000
! Lake shore one-ycar notes, which were
/ sold In Paris nearly a year ago. Paris
| has cabied that the notes had been re-
| new:d there. According to London ca
/ bles, it was in that city that the notes
! had finally been placed 1t turns out,
according TO an official announcement,
| that the notes are now in both cities,
! Paris renewing 100000 of them and
London taking the remaining $1,000
| 600
On account OF I.incoln's Birthday.
bank clearings this waek were consid
| crably less than in the previous week,
but compared favorably with the total
! for the corresponding week last year,
: when there was also holiday. Last
weeks total was s3,9S7. 100000, ss COM
pared with s2,SS2. 000,O 900 last year. Tho
ratio of increase was sc por cent New
| York reported an increase of 7.3 per
| cent; Boston. G.3 per cent; Chicago,
| l0.l per cent. and New Orleans. 1873
| per cent, whils decreases of 2.7 per
cent and per cent. were reported by
| Philadelphia and st. Louis. respect
lively.
Secretary Frank Sweeney. of the
Federal Mining and Smelling Company.
in a circular to stockholders. blnncs
| tariff agitation for the reduction OF
| the dividend on the preferred stock
from to per cent. "Since the re-
] cent passage of the Underwood bill re-
ducinE tho tariff on Lead" says Mr..
| Sweeney. tho price OF that commod-
ity has fallen from approximately s4.35
j To SO Of rim In, ill IL