The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-02-21
ROOSEVELT SCARE
OVER THE STREET
uEiJEvING HE WILL MARCH on
MEXICO, MANY READY TO
WELCOME HIM.
STEEL MEN IN DUMPS
SHARP COMPETITION - on AND
~ TARIFF REVISION ~ TO
COME Now IL THE
STEEL MEN IN DUMPS
~, ruoMAs C. sHoTMILL.

xrw YORK. Feb 2o.--stccks
moved within narrow range 'ou"'
and the close showed bat Few n"'
changes o! IMPORTANCE. Steel men
we're dependent. Railroad earnings
showed tendency to improve An
other Roosevelt scare swept over t'''
street. and there was a genera desire
ia wstt for what Roosevelt might say
IN hts speech tomorrow. General De
inf was that 4 conservative speech
would he made and. having IN NINA
The part Roosevelt played In the puf-
chase of the Tennessee Coal ana IRON
Company by the steel Trust, II was
argued that ne would prooaly crih-
c!sc the handling or the trust sitna-
ton by the Taft administration.
Reading was sold rather Freely. De-
cause Il is known that no segregation
viii be announced soon unless ordered
By the supreme Court
The controversy over the broken
rails has brought some starting tacts'
For instance enc railroad had reports
on single day recently OF ls2 pro
ken rails on five hundred miles OF
track. Railroad men say that the
number OF broken rails during the
bitter cold season must have amount
ed to 600 on some days
Dependency In steel.
Dependence of the Steel Trust men
Just now is due to the sharp compe-
tition Of business. They are beginning
10 realize, especially the little ones,
that the mills are ovcrbuilt and II VIII
take several years for the country TO
catch up with them. The trust Is get
ting the bulk of the business, but Is
compelled to take II at low prices
Failure of several steel men and small
companies Is expected. unless there
it,.v In the near
future. Competition Is so keen that
manufacturers insist tarin reform
could not bring prices down any
further and they say That IL the tarin
must he reformed II had better be
done now when 1t viii do the least In
Jury.
An inquiry today as to the value OF
Great Northern ore Certificates as
an investment proposition, resulted in
the disclosure that bankers closely
identified with the Hin OUTFIT are not
in favor OF buying them now. The ore
has proved Disappointing In point OF
metallic value, and the Steel Trust
insists that 1t is very grad 10 he re-
iieved OF the lease aside from any IN
.iuence II may have on the suit for
dissolution.
strength In Specialties.
Most of the strength in todays mar
Brake was up IL points. Pan Han
die preferred up ana common IL.
Industrial Alcohol. 3. and Havana
Esl etric preferred. :. Trading was on
an extremely light scale, but In addi-
ton to the uncertainty In business
way. traders took into accounts that
Thursday VIII be a holiday
Merger OF the Bankers Trust Com
panv with the Manhattan Trust Com.
tf.Ga nit COS a
new institution second only to the
National CITY Bank in financial
strength. The total resources accord
ing to the latest report VIII be Sla2
33n.s00.
Iackawanna stockholders author
izfd sl2.60p. 900 of new stock Presi-
dent Truesdalo calls attention in his
annual report of the l4ackawanna tt
the fact that bills now pending In
Congress 10 decrease the hours of ser
vice and increase the nuipbcr of mer
employed by the railroads viii add
materially 10 the operating expenses
of the railroads. He says the fact
that II is presidential year Is caus-
ing considerable hesitation In bust
ness which he believes, viii be re-
ieved after the nominations arc made
Welcome for Roosevelt
There is a large party in Wal
Street that would soon be- In the sad
die headed for Mexico. American in
t.rests In Mexico are uneasy for the
country is still In state of disturb
ance. There has been no actual de-
struction OF American property to any
considerable amount. but development
;s being hindered. IL is believed that
Roosevelt would not deal as gently
with the Mexicans as Taft has done
and It is further believed that once
h.
Grande there will he but one flag be-
tween the Great Lakes ana the Pana-
ma canal.
In the street: Number OF shares
sold today, i2s.ssa; year PSI.
5s6
Par value OF bonds sold today. 81.
0I.o0o; year ago, IS, $4,000.