The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-12-22

80 Int Harvester. conn., u5i4 ia
Int Ner. Marine. CON-.
90 International Paper 80. l25s Il;
or less unanimously compiled, make
the best showing OF the year.
Wall street GOSSIP.
Speculation in wall Street is as
dead as julius Caesar" said George r.
Sheldon a little more than two weeks
ago. and since then there have been
three days OF more than l,eo0,0 600
shares each. and in the last two weeks
an average. Saturdays excluded. II
more than $4,000 shares a day. That
has all the appearance OF keen specu-
lation At any rate. there mas been
speculation enough TO satisfy many
Of the Wall Street fraternity. and II
must be that Mr.. Sheldon is no bettes
a prophet on speculation than when.
az treasurer OF the Republican Ma
tlonal Committee. he prophesied many
things. J. P. Morgan, IL should he
noted. considered the matter Of future
speculation IN another way. He told
the Pujo committee that speculation
could not be curbed by legislation; that
people would buy when they thought
things were cheap and would sell
when they thought they were dear.
Brokers inclined 20 respect Mr.. Nor
gan's opinion are encouraged 10 be-
lieve that the good business of the
last two weeks will continue.
AS much material as the most in
veterate gambler could desire mas been
Supplied for speculation in the past
two weeks The decision OF the Union
Pacific merger case took the market
out OF the doidrums and the interest
famed by the decision has been kept
alive by the decision in the anthra-
cite case. the increase in the Reading
dividend the reference by the Mon
Pacific back to the Supreme Court and
Mr.. Morgan's testimony before the PuJo
committee. TO say nothing OF other
episodes that would be notable in or
binary times. All people are inclined
at times 70 put money into securities
and they cannot resist the temptation
to think OF securities at times when Sc
curity markes are SO conspicuous In
the public prints.
A good deal Of bullish literature was
sent out by commission houses to-day
for the first time since the outbreak
of the war in the Balkans. and there
was recounted that New York was en-
gagged In importing gold when the war
broke out. and stopped the import
movement and as corroilary. now
that prospects of early peace grow
brighter reluctance of foreign bank
ers to release their gold diminished In
the period since the war began the
corntry's exports have mounted to high
record figures. increasing the likelihood
of gold imports in the not distant fu-
ture
Two OF the most important cases be-
fore the United States Supreme Court
have been decided. and the decisions
have not been as adverse as the pes
sirnist predicted The money strin-
gency is abated. The money trust in
vestigation has lost its terrors.
Business in this country has gone
on in soodly volume all the time that
Wall Street has been distressed by It's
own affairs, and that Europe mas Deen
conyulsed by fear OF big war.
Spectators who expect or are work
ing for lower prices rely. in the hrst
place. on the suit brought by the ad-
the United States Steel Corporation
They firmly believe that the success
OF the administration in other suits
predicts success in the steel suit. and
point out that other dissolved corpo-
rat!ons. Ike Standard OH ana TOBACCO,
oveh-capi.alized at the start. and chal-
lenge anybody TO give them the value
OF steel common. in the event OF DIS
solution. Their next big contention
relates to the objections Of the Attor-
ney-CSsneral TO the plans for the dis
solution Of the Union Pacific system
and in this respect they harp on the
uncertainty that must pervade the
hoiders of different classes Of securi-
:ies In regard TO foreign politics. they
cav that The Turk - simply lighting
fo- time and doing his best to embroii
the movers And tn the future they
see visions OF drastic tariff revision.
further proceedings against tne cor
u,orations, legislation against the ex-
Shans-e and the banks. and al that
r. - are as gloomy as the bulls
are cheerful. and altogether there IS
IN wall Street now the same sort OF
dIaerence Of opinion that makes
horse race and that may continue 70
make an active market
View York. December 2i.-Money on
Iii ,orntnzf Time loans weaker.
-ivf~ anJ ninety days. per cent; SIX
soonths 1905 IL. Close; Prime
mercantile paper. Ger cent ste-lng
@xrha1se steady. VIA actual business
an baaksrs' bHis at st.si for sixty day
hills and a. stssse for demand Som-
nerciai bills. $3.50 IL BAL SILVER
g 20 Mexican dollars. ~ ~
RICHMOND STOCK MARKET.
rs Richard ". Maury.
a.,.r .,s Rsad Broker. fois 2. Main street
RicAnoas. Va. December n. I'M