The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-11-26
SCARE SENDS
Money RATES UP
i11|it - unPo1Ts or GOLD FROM
n nUnoPE TO THE UNITED
STATS.
EACH IL TER CENT
- nANk CONES TO RESCUE
wrrH OFFERS TO sUPrLY
Ar q AND BREAKS THE
nATE TEMPORARILY.
! THOMAS c. sHorWELL.

~ THOMAS c. sHoTWELL.
NEv YORK, Nov. 26.--Another war
{,,.re caused weakness In the stock
Snrket today. declines runnsna point
&1Id more In the active issues. Ihe
Rnr scare checked the movement 10
npprf gold from London and ran caii
nnr,cv rates up to twelve per cent IN
ne afternoon AS the Street had been
VI 10 expect lower rates from now
n selling was liberal on the part OF
kotessionals. Part of the advance
Scney rates was due to the aosofp-
- by the subtreasury OF more than
Aree million dollars.
4 Bankers expressed the opinion ina.
ne money furry was unjustlneo, ana
- direct result of unreasonaoie
3lNrm. They do not believe Austria
IA declare war on Servia. or that
NV general European war viii come
ri Of the Balkan situation. How
iser. there are many nervous inves-
>6rs who do seem to believe that the
1e0rst Is yet To come In Europe, and
- big people are therefore patiently
waiting for absolutely clear sailing
more they attempt to do anything OK
IMPORTANCE in this market
City Bank to Rescue.
When money ran TO twelve per
xna. early in the afternoon, the City
MI sent brokers To the exchange and
Gkered funds at per cent. breaking
y rate to that price. The banks
3erinx were quickly absorbed, and
1t before the close the IL per cent
IL was seen again, although at the
~ end Of the day funds had dropped
~ per cent Most brokers got their
kuney at per cent. and the IL per
mt rate did not fairly represent the
ka4e OF the money market. One re-
IN OF the high rate was sharp
Fcak in foreign exchange. amounting
more than twenty points. The ma
rlnx Of cotton bills will. before long.
1Ag money from London, war or no
~.
owing to the renewed excitement
M the war. the builish features of
report on locomotive engineers
nees by the arbitration board were
~ recognized. The total advance OF
akeA amounts to less than three
dlIion dollars for all the roads, which
less than a half OF what the men
nanded. The idea OF compelling
eatration to the extent of making
S1kes Illegal was popular with tho
Eee3. ard with business men In gen
"a.
Good Earnings Continue.
fsood earnings continue to be re-
orted by railroads and Industrial
6ncerns- One most interesting re-
nft was that by the J. /. Case Thresh-
RI Machine company. OF Racine, Wis.
6hich, In the ten months ended Oc-
Sber S1st. earned IS per cent more
Nm the same period last year. which
more than the total earnings Of that
hole year. The WHY'S Overland COM
my. whose stock appeared In Wall
kreet for the first time, reports that
ID earning above nine and a half
lnes the 7 per cent dividends on its
Ne million dollars Of preferred stock.
MI company. into which only thirty
lree thousand dollars OF actual cash
rer was invested, shows net tangible
eGts of S1o,s26,306. exclusive of
5Od Will, patents. etc, as the result
q i've years OF operation.
The Nevada Consolidated Copper
%ompany declared regular dividend
the rate Of $50 a share per year,
ND fifty cents share extra This
ntS 5000 of extra money in the
kasury of the Utah Copper company,
mich controls the Nevada CONSOLE
ntcd, and insures an increase of
4nhss dividend next March. Fig
ree were published showing that Lee
fxh Valley earnings have equaled a
Der cent rate on the stock for the
III four months. An iron authority
atee that steel exports for the cal
ndar year will be about three mil
IN tons. The United States Steel
fporation alone win export more
nn 100000 tons. The demand for
Dpar Ii SO great that II is estimated
600, 900 pounds will be taken at
- IL the price would drop to II 1-2
atA
War Not. Expected.
&If there Is to be a general war in
Brcpe, then, of course, all opinions
w to the value of stocks In America
~ have to be readjusted. II Is In
1ceivable that any healthy mind
0uid entertain the idea OF general
M following the Balkan victories.
SN possibilities of such a war would
too frightful in comparison with
~ insignificant advantages to be
Mined for any nation that might be-
Me Involved in it, The marshaling
great armed forces must be looked
cn simply as a precaution. and war
Europe is no more imminent than
- war between Mexico and the
nited States. when President Taft
N troops To Texas to impress Mex
with the importance Of keeping
u revolution at home.
These war scares are largely manu-
Rtured. end possibly for stock JOB
AE purposes, for the bear party Is
uperate. The whole situation abroad
liable to clear up any minute In
VIA way az to send the money
~ stumbling to permanently low lev
and to revivify all branches OF In
etry at home and abroad. and send
stock MARKET 10 levsi where The
4nderfuI prosperity OF tho United
n4eE entities IL to go.
Number OF shares sold TO-DAY. 443,-
year ago, so9.94s; par value
bonds sold today, $l,3as, 06o:
IN ago. s3.034.00e.
New York Money Market.
NEW YORK. Nov. 25.--Call money
med at 6 per cent; high. IL per
low. 6 per cent, renewals. 6 per