The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-01-14

! Loo Interboro- Met. pid........ Is 6
! arrangement recently formed between
! the Frisco and Louisville and Nash
! VILE.
Though Kuhn. Loeb z Co. will act
as finance agents for the Chicago and
Eastern Illinois. Speyer & Co. Will oon-
t'nuc to be the bankers for tho rest
of the Frisco eystem. This unusual
arrangement probably resulted from
the alliance between tho Frisco and
Louisville and Nashville, whose bank
ers are J. p Morgan q Co II wac
suggested that Kuhn. Loeb q Co. were
asked to act for Chicago and Eastern
| Illinois because a neutral house was
desired.
| II was inferred from the unity OF ac-
ton among Southern steel men in their
I protest against freight rates from the
| birmin CHAM district to Ohio River
| Fo!nts that these and other indepen-
cents would combine to organize a
! foreign sales company. similar TO that
! Of the United States Steel Corpora
ton, and tivcs OF some of
the independents admitted thnt this
was n possibility.
The weekly Marshall Field Bulletin
contained satisfactory news: IAN un-
usually large number OF merchants
| have sent requests for salesmcn 70
! caN with spring lines OF merchandise.
| This Indicates that dealers who de-
leyed making their spring purchases
| early now feel the need OF replenish-
! ing. Stimulated demand for heavy
goods will undoubtedly DO appreciated
generally. especially in cotton grow
Ing States. where mild weather until
recently deferred merchants from dis
posing OF their liberal purchases New
styles In ready to wear lines are at
| tracing a good deal of attention"
| Speculation over the merchandising
business OF the anthracite roads was
| rife again Jersey Central and Read
| Ing having advanced after the an
lrounccment OF the Lehigh Valley seS-
regation plan. Il was inevitable that
! sI.eculators assume consideration OF o
! segregation plan by these companies.
F.. Representatives. OF large interests in
them again declared the assumption
iunwarranted and again referred to the
/ decisions OF the courts holding the
Reading methods OF business legal
within the commodities clause. Read
J Ing interests are not concerned over
| the commodities clause. The Interest.
;
l'any Is concerned. centres on tho cult
brought against the company on ac.
count Of the Temple Iron Company.
and which has been argued before the
United States Supreme Court a de-
c.sion has been expected for some time
and may be handed down Monday.
Officers of the United States Steel
Cooperation again refrained from eS-
. ~ int he a
OF the Southern steel mon. All that
was learned from them was that after
| the papers in course OF preparation for
the Southern manufacturers had been
presented the big company would sub
NIT statements In rebuttal. One OF
the men in the employ OF the big COM
pany pointed out, however, that rail-
roads controlled by the Steel Corpora
tion reduced some OF the freight rates
tors cancelled the ore lense with the
/ Great Northern. He considered thut a
sufficient answer to one OF the alioGa-
tions OF the Southern producers and 10
the main contention OF the independent
producers In Ohio. Nevertheless the
I, Ohio Independents and the Pittsburgh
Chamber of Con merce persist in their
complaints relating to freight rates on
ore. the Republic Iron and Steel Com
"
ham district and in Ohio. and is In a
| singular position. is protesting against
various freight charges in both Sec
lions.
Caution was the keynote Of most OF
| the weekly letters OF the commission
houses. Some of the typical obsuvva-
lions Were: Under present conditions
| there is not much inducement to take
1 "a m
the rallies stocks appear to be O good
! sale"
The stock market has now assumed
position where certain stocks are
purchased on any moderate reaction.
The recesslons in market leaders SIM
ply reflect the operations of the profess
i sional speculative element, and their
frequent occurrence simply adds to the
outstanding short account and makes
the position OF the short interest more
and more vulnerable"
| we would buy for Il turn and sell
on the sharp advances"
we understand that tho big peo-
pic are still bearish and that, while
! some stocks may move mp. Il general
bull market is not In sight yet. Wa
would be very cautious about pur-
chasing, only buying on sharp reac-
tons such as we saw to-day and the
day before"
I'VE stnl believe in buying stocks
on Il scaledown."
! According to tie fortnightly bullo-
Tin of the American Railway Assoc
citation. the net surplus OF idle cars
on the railroads OF the United States
and Canada was 1S5,9ss on January 8
an increase of 1914 In two weeks
The total Is the highest since las,
July. Eastern trunk lines did not suf-
fer from the retrosrade movement 10
Y - irrnaf II, ..Sfenf a q did tina linna II,