The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-03-24
Prices OF Stocks Strong in All
Directions on Last
Day Of Week.
SOME BuoYANT ADVANCES
Industrial AMI Market Reports
Compare Iavorably With
Those OF Former Years.
Especial to The Timey-Dispa,ch.l

Of large number OF professional
speculators there was no recurrence
IN the stock murke, to-uay OF the
moderate tendency ,owuru profit
taking that characterized transactions
On the day before. Prices or stocks
wera strong Ia all dir. ctions. anu in
some instances advanced in : buoyant
manner.
Even United states steel Corpora
ton common stock. which has
distinctly held back on the present
upward movement, rose 10 tic highest
level that it has touched s'nce the lirst
week in January.
The features OF the market. how
ever. were the copper sLocka In which
rise was naturally stimulated by I
further rise IN tn" copper tai 10 II
cents per pound. The fertilizer stocks
we're active ana higher. as was also
the American Can issues aud Rock
Island common ana preferred The
days news was favorable. comprising
news OF large sales OF print cloths al
FAD River; OF the practical cxtinguish-
pznt OF the idle freight, car surplus
oy reduction in the total quantity
OF the surplus to 3.0i3 cars. and high
~ encouraging developments regard
Ing the settlement OF the English
coal strike. In the bank statement
notable decrease was reported In the
surplus reserve. The chief element
In banking transactions OF the week
has been. OF course, Ii renewed extern
sion of credit by our bankers TO Ger.
man houses in preparation for the
april settlements. Although fnan-
tlal announcements were not numerous
nor extraordinarily Important last
week they were still generally III the
line OF that improving tendency that
has lately set IN and were distinctly
calculated TO make for higher prices
u securities. The governments nnal
estimate OF 5000. o10- bale cotton
crop for the present season was not
unexpected but 1t set the seal OF oi.t-
cial authority on tho fact tnat ~ far
the largest cotton crop In the coun-
TVS history mas ucen raised. II forms
also an essential element in our cur
rent prosperity that this great crop
has been taken so freely by conBum-
ing Interests. Our exports OF cotton
in the season 10 date have been 1900
coo bales greater than in the proceed
ing season. which at tho tine consti-
tUted a hgh TcCord.
Copper was advanced 10 Is J.; cents
Round, Win strong indications that
per cent rise is not iar away
THIS mas been due chiefly TO the fool
ish policy OF p.oC.astinat!on pursued
hS American copper consumers, who al
lowed their stocks OF the metal TO run
anwn TO ridiculousiy low loved ana
wcvo Unfortunately distrustfui, As SO
many other people wsre also. that any
considerable trade expansion in our
country was in sight.
y feature OF the week. too. was
the publication OF reports o: last years
business b. many Industrial ana rail
way companies which made Il great
deal better showing than nine out of
4
showed how absurd Was the selling
movement which carried the stocks OF
these companies to the low levels
touched last fall.
;, short time since the figures of the
American Sugar refining Co Indicated
earnings Of - per cent. upon the COM
pany's common stock. This has been
followed by the New York Central and
American Smelling and refining state
,ncnts. showing net earning applica bic
10 dividends distributions of over II
per cent. IN each instance
q business everywhere in, january
was restricted By the weather. but /,
is evident that results n the succeed
ing month were in vivid contrast
Last week the Baltimore and Ohio
announced an Increase in gross earn
ings for February of sSS9,C0O, while
the New York. Ncw Haven and Hart
ford's gross Increases were S7S5,00o in
the same month.
According 10 Bradstroets, bank clear
ings last week were O. per cent great
or than In the week before. and Ito
per cent. greater than II. the CORES
pondIng week las, year, II is hard to
argue in the face OF these things that
business is not picking mp.
The United suites Steel Corporntion's
pamphlet report for tn, year told of
nothing that was not already known,
except that 1t had detailed figures of
the operations OF that vast concern.
The steel industry is still suffering,
il seems, from the low prices at which
business has been conducted, and this
is the apparent reason why United
States Steel common stock has been
latterly something of laggard in the
market rise.
AS to the country's general foreign
trad., the statement of the volume and
value of exports and Imports for Feb
ruary. issued on Tuesday, was again
such as to excite enthusiasm. Botn
exports and imports made a new high
record for the month of February, and
the excess value of exports over i'm
ports was S6i00o,o00 As the year is
starting out II holds forth the prom
ise of another great uccumula ton of a
foreign trade balance In the full twelve
months period. AS tho week. pro-
crossed, less and less attention was
paid by financial interests on this side
of the Atlantic to the English coal
Strike and for that matter To the qucs-
aion of a conl strike in our own coun.
Dry II the language of th> stock mar
Sct Is at all prophetic. there will be
no trouble worthy OF the name from
this cause.
Wall Street Gossip.
All available statistics and other In :
formation show that the railroads this
month are making up for the poor bus
mess in January and part of February
when traffic was delayed by the cold
and storms. All Of the roads this
month. in addition 90 normal traffic,
have great deal of deferred tfatiic.
and are helped, moreover, by the great
demand for both soft and hard coal.
With the exception of 1907. as is shown
by the fortnightly bulletin of the
American Railway Association, the de-
fo- !, l.