The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-02-20
OP|llON DELAYED
MARKET IS QUIET
EXCITEMENT WOULD HAVE FOL.
LOWED COURT DECISION IN
BUSINESS HOURS.
READING Is WATCHED
NAMING OF PiTNEY, OF NEW JER-
sEY. FoR SUPREME COURT
JUSTICE rs WELL RE
CEIxED.
READING Is WATCHED
Nv THOMAS c. sAorwELL.

NEW YORK. Feb. le.--Wall Street !
would have had an exciting stock /,
market today II the supreme Court !
of the United States had rendered a
decision in the coal trust cases during
business hours But it did not, and
therefore the traders had no reason for
doing anything. In the morning they
advanced the list about a point, and
in the afternoon sold IL OFF again. put
II up again. asd sold it another time
Just at the close Reading was sold
rather freely because they had no
ton that the Supreme Court would
render its decision in the coal case
later in the day.
Most of the big traders OF the street
had definite ideas as TO what they
would do in the event OF a decision.
The best opinion seemed to be that
decision against the government would
he n legal ilnpossihility in view of
the evidence submitted. In the event
Of such decision. however, Reading
stock would he expected to hold Its
own because present conditions would
bc continued Decision making neces-
sarv "A dissolution of the so-cajled coal
trust controlled by the Reading would
force a disclosure of all the conceal
ed assets OF that system and wouu
necessarily advance the price of the
stock Conservative estimates OF the
true NaIAc Of Reading placed IL al
about 500.
Appointment We'll Received.
appointment Of MIR, PitncN. Of ne"
Jersey. as n supreme Justice OF tue
United States was favorahiy received.
He Ii known as "a conservative man
Another favorable influence was the
- hot
r.. Harvey. Dor member OF parii1-
ment with five miners. had been IN
conferences for some time with fiSe
REPRESENTATIVE of coal niue owners.
There is good reason for believing that
the national coal strike planned Tor
March l. in England. VIII not take
place. An American coal strike is aiso
out Of the question. Concessions VIII
he mad" on both sides.
Directors of the Steel Trust We're
pictured by the bears az trembling IN
their Offices In anticipation of indict~
,nans t,y the l nited States grand -''tt,
II would be surprising " indictments
wer. not found. Indictments would ne
welcomed hY the men involved Tor
only in that way can the entire sub
ject Of trust building and trust hnst-
ing be ,hraSiicd aot.
Had Read Constitution.
The Emitted states Senate IN .efus-
ing to-day ~ pass Il measure proVtd-
ing for the reopening of the tooaec"
trust ease proved that a majority of
its members have read the tonstha-
lion of the United States Tnsir &C
lion could have no influence on the
sfock market. however because even
II they had passed the measure II
would have done no good,
Copper stocks displayed strength
The condition of the copper metal
market is really good. While CON
servative bankers question the WIS
dom OF buying any stocks just now II
is generally admitted that the cop
pers are perhaps the safest. Amerl-
can Smelling and Refining, or course
shares the good fortune of the cop
per list The same thing Is hap
peusng in cotton that has happened
in copper Consumers or copper re
fuse TO buy at l. cents, believing
they would get all they wanted at
IL cents. The agreement TO restrict
production cleaned up the metal and
those who refused to buy at IL are
now buying at ~ L.. SO also those
spinners who were sure cotton would
break under cents. and who, there
fore, refused TO buy at cents, are
giad to get the staple at 10 cents.
1t may be that the same prin!pie
should be applied with the stock
market Tens of millions OF dollars
are lying idle in the banks waiting
for n break IN the stock market TO
be invested. Everybody is sure there
in going to be one more big break.
Ii may be well for prospective pur-
chasers, 10 consider what happened 10
the copper consumer and the spin
Hers. Big questions such as the peo-
pie of the United States are engag-
ID in thrashing out cannot be set
tied in a few years. 1t is possible
TO have several rousing campaigns
Ia Wall Street before the deluge even
IL there liz to be a defuge.
Canadian Railroad Earnings.
Earnings OF Canadian railroads. an
nounced today gave a hint as TO what
Will happen with the Western rail-
roads Of the Limited States when the
Panama canal makes II possible for
the Pacific coast to get cheap labor.
The Canadian Pacific gainkd for the
second week OF February s3s3.0o0
over the same period last year and
the Canadian Northern $4,000. being
IS per cent. and Sc per cent, re-
spectivciy.
AS to the stock market today the
experience of one of the most i'm
portant firms furnishes good Illus
tration. This firm has a national
reputation and has, offices lin SIX Of
the largest cities Count was made
today and twas found three hun
bred customers visited the offices. One
customer bought $4,000 worth of
bonds and three other customers
bought 100 shares Of stock each. That
was absolutely all the business done
for the day. This firm thinks moth |
ing Of buying or selling 10000 shares
OF stock In a day when there II real
business and has customers that often |
do $4,000 shares during one stock |
exchange session.
Number Of shares sold today. ls7,- |
si2; year ago. 3s1 49,.
Far value OF bonds sold today, |
Si,ss7,o00: year ago. s4,56i 900. |