The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1912-08-05
STOCK MARKET WAS FIRM
DURING THE PAST WEEK
CANADIAN PACIFIC TOOK A
RAPID JUMP.
A. Whole Prices Were Coco ara
the Market ~ss stsaoy-AarVest-
ins Ne~s 10 EneoUraains

NEW YORK. August 4-Specuia-
tive sentiment Ia the stock market
last week advanced four arguments
from various sources. agricultural
financial. industrial and political
Business a. the exchange expanded
on a rising scale OF prices 20 the larg
est to-days total since early In the
year. The rise in prices had the ef
feet OF dislodging some bear &C
counts. The higher stages OF the ad-
vance, however. brought In some
realizing sales OF dormant accounts
on the long side.
Maintenance OF the 81. Paul dividend
was Interpreted in that sense. En-
larged estimates OF the total wheat
crop resulted from the Improvement
In spring wheat and from the unex.
pected large threshing returns re-
ported for winter wheat
Corn and cotton advices were not
so satisfactory until showers in Tex
as Indicated a check TO the deterior-
alton in cotton. The Government
condition reported on cotton OF July
%. showing a decline Of SO points in
month IL was feared. did not meas
ure the full amount OF the detoria-
ton TO the date OF issue OF the report.
Canadian Pac.1c Scars.
The advance in Canadian Pacific
out measured that even in North
/ Western railroads, " response to the
eXtraord mary development in its ter
ritory. Comment began to be heard.
also. on the corresponding land spec.
ulation in Canada. especially in cities
and towns in the west \ large az.
gregate OF credits is involved in the
pqition.
: The feature OF the money markets
was an easing OF discount rates
abroad and a decline IN the foreign
/ exchange rates in New York. Tx
I pectation that gold might be export
ed from New York passed away. How
/ far these effects we're the result OF
placing finance bills abroad by New
York bankers was a matter Of con
| lecture Demand for time loans and
! increased offerings OF mercantile pa
| per made higher rates in those de
I partment5 OF the money market. Ease
| In call money may be explained by
the policy OF the banks in adding 10
their resources in hand or subject 10
recall On demand.
The showing OF the June II comp
trollers carries a warning TO caution.
with its percentage OF surplus re.
/ serve az lowest for the correspond.
/ ins period for many years past, 1910
excepted The steel trade has com
manded attention IN the industrial
| world Successive price advances
| were reported. and prominent trade
! authorities united In pronouncinE In
dications for permanent prosperity
/ L. 5. Steel second quarter earnings
/ eqUalled expectations. The balance
after payment Of the common stock
dividend for the quarter. however,
was small and the incursion upon
surplus 20 pay the first quarters div
idend remained to be made up. Also
the second quarters enlargement OF
appropriations for up keep was con
sidered moderate. in view OF the IA
lures rate of activity maintained IN
production.
June net earnings Of railroads
showed Improvement
Complaint OF hearings arbitrator
OF eastern railroads demands was fol
lowed quieting OF the appeals oil
railroad officials against threatenet
disaste.