The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-11-24
ENTIRE ABSENCE
Of LIQUIDATION
But There Is Some Little Fur
ther Selling of Stocks by
Professional Traders.
INCREASE IN BANK SURPLUS
Foreign Financial Authorities
Declare Confidence Is
Undiminished.

New tOTk, NOVEMBER co. /" hhS
there was an entire absence OF Eqoi-
d4tion to-day, there was some little
further selling Of stocks by profess
slonai traders, who argued tnat as tine
market had Just two days recovery.
Il was entitled to two days decline
The stories Of the mobilization OF
troops, ETC.. in Europe. most OK these
being obviously fictitious. furnished
what ostensible pretext there WAS 1or
sales of stocks. and the foreign mar
kets were in the early dealings an-
cltned to weakness. AttrwAros. now
yer. they turned strong. and private
cables received here from more thah
one financial authority declared that
there was no change whatever In the
situatfon and that confidence was un-
diminished; that the Balkan war
would soon be ancient history.
II was generally expected In the
financial district that the AWARD "ia"e
by those chosen to arbitrate the oe
mands made by the engineers IN
Eastern railroads for more pay wouio
be published on Monday; and the eH.
pectation was also generai 'ha.
slight but not material increase an pa'
schdules would be granted 10 tne en-
xineers on some OF the so-cai'e' poo-
railway lines
The average figures OF the weeAS
bank statement presented an ny 90
in the bank surplus OF a.. a.
finder the actual figures snian &c
crease in loans and cash loss IA
..eah Of cash increase were repof'eu;
NADINE net decrease in surplus Va
80, week was dull enough. ootn IN
c.ws sense and as regarded STOCK
market activity. but there was uas
1unortant development. ana that
an easier working of the money sis1
t.on not only in our country W.
Europe. True. there was no eseaA An 90.
in rates anywhere. and none ~
c.,erred until after the hrst OF .as
49, wear but there was perceptioiS
-.,.xatton OF the strain that has !a1e-
=, been felt. sterling exchange In TINS
market weakened SO that gotd imPo''s
were resumed, and the fact ola NOV
c.nse any perturbation abroad Inc
n,che.s rate touched here for cas-
r,o,sv during the week was below the
highest OF the week before, ~hie
was in turn below that OF tne p'ese
ing week. Shipments OF money rom
this city to the interior were muen
and the money situation - Pia''''
growing brighter all around.
rhe month of October was very note
~or,by IN this respect with its enorm-
on. .hinments, and especially OF bread
stuYs. cotton and steel. II has al
reaSy been pointed out that none since
the significant year 1897. when the
country wa. preparing for the great
nu.ineses boom that foilowed-has
shere been such a simultaneous ehorm-
nus Growtn of the countrys pfooucie
European dispatches were OF the sor'
suaIly received when great war IS
he
viii D, the usua, packing ana MINIS
.,d ATTEMPTS by sensational newspa-
eers to revive old significances-
There was not so much emphasis laid
&, Wall street discussions upon the
dangers to the business community
from tariff revision. The feeling OF
business men would probably be dif-
feren, as to this matter than II is X
they did not now have their hands Iuii
attending to orders that are pouring
in. The supply and demand conoitiohs
of the present assert themselves 50
strongly that there Is no great impulse
to worry over what may happen a year
hence
The business situation may be SUM
,nea up in the general statement OF
Brads,reets Journal last week that
optimism was predominant Prices
everywhere were strong and the report
from nearly every ipdustry was that
capacity was fully occupied. As to the
steel business, what Is going on may
be discovered from the single fact that
orders have already been placed Tor
over 100000 tons OF steel rails for
next years delivery. while the total
delivery throughout last year was 3
400 600 IONS. A decision by the ST.
vreme Court Of the United States in
what was known as the 'bashtub"
eases was only interesting because II
AFFORDED another chance for construe-
tiou By the Supreme Court Of the anti
trust law. and while the action OF the
court In this particular instance was
not regarded as especially important
Il did encompass the truth that the
present antitrust law Is broad enough
70 cover all the purposes that were de-
signed for It
Wan STREET Gossip.
The report OF the board of abbitra-
Zion on the wage dispute between tn"
engineers and managers Of the Eastern
railroads Will be made public No.cas.
To-day and the day before alleged
forecasts OF the report were circu-
lated through the Gnanc-1l district
A great many SPECTATORS believe :he
alleged digests to be accurate !'ue
could see nothing In then 20 se;m.-
Late speculation in the railroad shares.
According to the dieests tie report
wtIl conform with the explanation.
bong and generally held that \ cssn-
promise would be made on terms not
very ouerous to the railro.d&- How
ever. the authenticity OF ia. alleged
6fgesss was. OF course. sub;cGs 20
question
The chance OF New FORK securir 3
rart Of the gold to be laid down in the
London Market Monday was d!minished
Ny the action Of the foreign exchange
market sn this city to-day. which ad-
~anced 20 20 10 points Tor the wce,.-
ana closed well above the level MAIN
eained when 1I.25e.eoo soii was en-
saged in London for shipment to this
city last week
New York bankers are not incliusd
G. pes demand upon the I<orden
maYks. ara IL seemed pg,.abs- TO-
Gay that no stds would be made from
fr~u1a RmAo1x