The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-05-26
MARKET IS DULL,
BUT VERY STRONG
Most of Net Changes in Prices
of Stocks Are Ad-
vances.
DAY HAS NO FEATURES
Nothing in News OF the Week
to Stimulate Activities
Of Traders.
DAY HAS NO FEATURES
Especial to Tho Times-Dispatch. ]

Especial to The Timec-D ispatchl
New York. May 25.-To-day's stock
market displayed the same general
characteristics as that of Friday. II
was Il very dull market. but strong
che. and most of the ret changes In
prices were advances. Mono OF them
was of consequence or O: particular in
terest. except the upward movement I'M
the local traction shares. and gains in
"a few spccialtics, such as New York
Air Brake, Texas Oil, Denver and RIO
Grande preferred and Peoples Gas. At
tcntion was again directed TO the
local traction shares. by the announce
rient of the new financial plan OF the
lntcrborough Rapid Transit Company
and the report of progress on pcrfcc-
lion of 500. 900 financial plan for
brooklyn Rapid Transit. Apart from
the customary weekly trade reports.
and the traction nnarcing. news OF
market interest related principally to-
the trend of railroad earnings. South
trh Railway. for April. showed in
crease OF $4,000 in gross and $4,000
In net. For tho same month AtchiEou.
Topeka and Santa lie reported a gain
Of $4,000 In gross. and $4,000 in net.
Bank clearings for the week were 10
per cent. above those for the CORES
pondng week last year. As had been
expected the weekly bank statement
was favorable. II showed an increase
OF S5.55i.o00 In surplus reserve and an
increase of $1,000. 900 in cash.
The stock market became less and
less active IS the week progressed In
tho early part Of the week. the So
called technical condition tempted bear
ish operations. and njeteXt for these
was found in tho Roosevelt victory I'm
the Ohio primaries. Trading lapsed
into professionalism except for opera
lions In spccialties. and the covering
by professional traders in the latter
part Of the week brought the average
OF prices Just about whore II stood al
the end OF the previous week.
In bonds. business was . little better.
The si50po.00O bonds offered by the
syndicate. which took item from the
bethlehem steel Corporation. were sold
readily. and a few small offerings OF
railroad securities We're easily dspos-
al Of = =, -.
The American Ice Company prac-
tical!y completed arrangements for u
new financing TO the amount OF about
100000. Important progress was
almost made the most important
financial plan, now cnga ging the at
tention OF bankers. that OF the fnanc-
Ing which will be necessary to enable
the marlborough Rapid Transit and
The Brooklyn Rapid Transit Companies
: TO build the new subways. 1t could
not be said that the investment de-
inand for bonds was particularly keen.
bat money continued SO plentiful that
'''t 4'iSN'AbNAOH1A NGS NCIl
maintained.
Figures compiled by tho Department
oi Commerce and Labor showed a new
and more wildly the exceptionally
strong position OF this country in the
International money markets Ac-
cordlng to the statistics OF the coun-
try's exports and imports for ten
months OF the current year, Il was
estimated that for tho year as a whole,
imports approximate s1.doo.cOo.oco. ex-
cecding by sioooo.ooo to $50. 900 900
the previous high record year and
tina, exports would reach the enormous
total of s2,2o0000. 900. which is $780,
100000 more than In any previous
year. The Asures thus predict a cred
II of S5oo.ooo,c0o in thu years known
balance OF trade.
An inlportant event or the week was
the formal settlement of the coal
strike. That removed the greatest
menace 10 business from labor trou
h!es In regard to labor matters in
tcr@st now centres on the arrange
'ments for arbitration OF the controv-
eTsy between the railroad engineers
end their employers. The two men
selected by the unions and the roal-
roads To select a board OF arbitration
were unable TO agree. but. as arrang ed
beforehand, the arbitration will pro-
coed under arbitrators to be selected
by officers of the government THAT
arrangement prccludes the chance Of
strike and removes for the time be-
ing the la'.or problem las q market
factor. Abroad relations between en-
rioyers and employees are not so hap
Ply. Strikes seriously disturbing bus-
mess have again broken out in Eng
aind, and the London market last
week was somewhat depressed on ac-
count OF them. The London market
mas also suffered from overspecula-
ton in Marconi and steamship shares
Throughout the week the closest at
tention was given to crop reports
Study of the daily weather man was
more intense than perusal of any of
the data customarily consulted by
spectators, for 1t is widely believed
that the prospect for the crops IS
now the most important market
FACTOR. The season is admittedly late
planting of important crops, such as
corn and cotton. having been delayed
by the cold weather crops such as
corn and cotton having been delayed
by the cold weather and rains OF the
spring. but In the past Week condi-
lions over practically the entire
country have been much more favor
able than in any other week of the
spring. 1t seems to be reasonably as
sured that the country will have a
record crop OF hay, and that the fruit
crop Will be good Winter wheat will
be short, but from present indications
compensation will be found In an in
creased acreage of spring wheat and
corn. Cotton planting has progressed
rapidly in the past week, and though
tn season is late, current high prices
for cotton naturally stimulate as large
an acreage as the planters can put
in. altogether crop prospects were
much brighter at the close of the
week than at tho beginning.
New York. May 25.-Money on call
nominal. Time loans steady; sixty
days. a@s IA per cent; six months,
IA per cent.
Prime mercantile paper. to 1-2
per cent. Sterling exchange easy;