The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-02-29
STRIKE LIKELY
TO BE AvERTEO
ENGLISH GOVERNMENT IN No con-
p,rIox To rERMIT TT JUST
AT THIS TIME.
IEATHERSHOWS UP BAD
ryTN WORSE THAN LAST YEAR.
ACCORDING TO REPORT OF
Earnings Just MADE
PUBLlC.
.LEATHERSH UP BAD
nv THOMAS c. sHoTwEIL)

in the stock market today Was due
largeiy- 70 short covering and TO pro
fesssNnal operations Ia expectation o.
-, .,s,,.,sf s,nnouncere OF settlement
af the British coal strike. The move
s,.syst taw-ard higher levels was quiet !
bat persistent from the opening 10
TIRE c}ose- Final prices we're near
sas hast 81 the day. Prohi taxing
snaa..s3. cGotatinus a tritic, but the
elaxe WAS strong.
Although copper stocks were not
$50 leaders of the market, they were
-, srrn as to suggest accumulation In
A~kfrtpattan Of movement OF I'M
r~nrsa ns~a This movement Is based
almost entirely Oh belief that tho
ss~sat Britain coal strike VIII oe
agertfd. Some rumors persisted To-
8ay a. strike to he called FRIDAY
Information in the best banking CIR
ss.tes Is to the effect that poiocai con-
sii.Eous in England are such as 10
make IL dangerous for the govern
s,en: tn permit a strike, ana that.
therefore, a compromise has ALREADY
been provided for. 10 be announced
Al the laSr TupTUErt-
Result Of .Aycrting Strike.
with this strike avertei the use OF /
rvzyf,Jrr -Ertss~-ttt sAsii f-.F-Hs4F4at
foundries have been restricting opera
ffors. fearing To enter into big CON
tracts until sure of getting suppnes
tf coal official announcement that
y-rtttt-r ,rcrr c1itcd off tti PITT
copper to fifteen cents pound almost
INN, ediately. The report of the COP
per Producers Association for the
month Of February is not expected TO-
show a reduction in stocks OF more
than five or six million pounds, but
la IT, haa n.
with consumption slightly in excess
Of production.
Some selling Of steel attracted at
fention early III the day. 1t was by
brokers who usually operate for one
or uaofe directors of the trust, with
the evident intention Of making ~
look like inside selling. 1t seemed
10 be based on the report published
later In the day OF an expert account
ant employed by the Stanley commit
tee, who denounced the trust Tor
earning go much money. This ex-
pert expressed his astonishment at
facts that had been common knowl-
aJ.e for years The attempt 10
frighten stockholders with Official
proof Of the great earnings of the
trust was abandoned and steel Joined
the upward movement.
Leather shows Up Bad.
Central Leather made public its
earnings for the last fiscal year, which
showed even worse than the previous
year In the light of these earnings
professionals thought the payment OF
dividend on the preferred stock as an
nouneed the previous day was not
justified. and the preferred slowed
down TO so s.. or nearly three points
under the high price established the
previous day on the dividend an
nouncement. There was a recovery
To 81 3-4, 80 that the stock closed
with a net loss of only one-haf "A
point. The minority stockholders
failed 10 accomplish anything of i'm
portance at the annual meeting.
Weather Ideal For Crops.
Perhaps the most bullish news OF
the day came from the West and
South, where the weather Was re-
ported ideal for crops Wall street
does not forget that the United States
is an agricultural country. While
there are phases OF manufacturing
that are unpleasant. with outrages
being committed here and there by
big corporations. the agricultural IN
terests are so great as 10 overwheln
all others. The labor troubles in fac
tories, while important, are go small
IN comparison with agricultural pros
psrsty. that professional traders are
beginning to ignore them. Further
more. both political parties are pledg-
ed to reform the tariff. and these labor
troubles are now perhaps at the yer,
worst The bad temper with which
The public has received Roosevcits
{, candidacy IL another cheering sign,
and Wall Street is now more than
ever convinced that the next Presi-
dent will be Taft or conservative
Democrat. The Street also has come
to the conclusion that the big in
-.iastFi4l- eerporatians-rhu must accept
smaller profits. and pay more TO en-
ployes Therefore. there is a quiet
shifting from industrials to railroads
Tlaeaaas 3. Y. .Ryan's Tesignatfon as dis
rector was accepted by the American
Tobacco Company. His retirement rs
an old story to the readers of this
column. although IL WAS denied when
Published here exclusively early In
January.
Strength Of Canadian Pacific In
London was accepted in Wall Street
as rejection OF British belief that
the great coal strike would be avert
ed.
In the street; Number OF shares
void today. ase5si; a year ago. 49,
554.
Par value OF bonds sold today. ST.
o5S,oo0: year ago. $2.os3,o 900.