The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-02-18
STOCK DEALINGS
ARE PERFUNCTORY
Smaller in Volume Than in Any
Half Session for
Months.
PRICES VERY SLUGGISH
Bank Statement Noteworthy
Only because Of Curious
Disparity.
PRICES VERY SLUGGISH

''pe''i -
New York. February i7.-Stock EN-
chango dealings to-day ware onlv per
functory and were smaller i'm yolum.
than on any half session OF the cx-
r"iihee since the last week of July,
last year. Prices of stocks at tho
opening wore. In one or two Leading
Issues. slightly below those at the close
OF the day before. but. thereafter until
the end OF business they rose graduaIl,
although sluggIshIy. Exceptioual
h,r'nsth was shown By the Norfolk ana
estern and American Cotton OH com
mon shares. but the days operations
were absolutely without other sign:ii-
canoe than that or the buying and sell
ing OF small number Of room tradcrs
ihcre was further talk in England re-
GhrdlnS the trouble with the coal min
cfS' mt this aid not serve TO bring
any selling here FOR LONDON account
NhhounGemonf was made OF the engage
1neni OF $4,000 spii for shipment to
H"uth America. The weekly bank
staten INT Was only noteworthy. on ac-
count OF the curious disparity shown
1doubiless due to recent gold exports
bttween the figures OF the average
ana actual reserves. The gold shin
nitnts that took place at the end of
thst week. in all probability. influenced
inc average figures OF the bank stats-
men, more than they did tho actual
statement AS it appeared ,hcr> was :.
decrease in cash in the average state
ment OF over s7.500.o00. while the de.
crease In the actual figuras was only
S2'eoo.VoO. The average reserve de-
creased $4,000 900; the actual decreased
xi.4o0.oo0.
The general character of tho stock
market last week was more un!ntcr-
ehtnS than al any time thus far in the
."t' mere We're few II any lmpor-
'hht changes in stocks and no sensa-
fi"nal ns"s. on the whole the rnark.,
presented a firmer undcrtonc than IL did
IN IN" previous week. hut whether ,his
was due TO any further cause than 4
h"r" lack OF RESPONSIVENESS on the
Fhri OF SPECTATORS for tho fan ana =,
moderate tendency on the part OF pro-
3ess!onal operators to ''coycr" stock. il
""nhitnl The copper market main
taincd its recent strength. bu. ,hsr.
appeared 20 b" no alteration Whatever
IN the torpid situation In iron and
steel. The notable development, Of the
""ck. SO far as therc was any IN bi,s
ms" conditions proper. was signs Of
q dnickeninG In Ihe cotton mnnufac.
turing ana textiles industry
The obvious trend Of prices tacre
vas 10 advance under plain L!spos..
ton on the part OF buyers 10 mike
purchases in larger volume than they
nave done FOR long time past In
deed, the movement in this direction
representing n generally more cncour-
aged feeling was declared by the com
mercial agencies To be the predorni-
rant feature OF all business operations
during the week, even IL as yc, the
movement, has attained no great mo-
ncutum.
J, seems to he the opinion Of many
observers of business that tho existing
status viii in general way remain as
u is until further lg.it IL Obtained as
10 crop prospects. The prevailing idea
Is based upon The experience OF the
past that the extremely cold and severe
weather Of the winter affords prom
Use OF crop abundance. Some unfavor-
able reports have lately been heard
however. as 10 agricultural conditions
in the Middle West. these being to the
'Htct that the snow covering has been
removed t.acrc In sections from the
winter wheat crop. But, broadly
zpoaking, tho crop prospec, is ad-
mittcd by all exports to be much bet
ter than il was last year. The coun-
try's foreign trade is Keeping up
splendIdly, and the record OF January
was that the excess OF exports over
imports for tho month was only 81
100000 less than for tho same month
I'm 1910, although the price of cotton
export. mas greatly declined. Few OF
the large railroad systems have made
reports fearn!ngs since last Satur-
day. but such statements as were re-
ceivcd were no tbad. those In the East
.rn part OF the country generally
showing Increases. Indeed II seems TO
30 "a fact that with the beginning or
the fourth week in January the coun-
Iry's railroad business nearly every
where has improved.
Mr.. IIill's testimony before the
Stanley committee. in whicn he vigor-
ousiy combated socialists notions TO
which certain eminent men have late
IL given a species OF Endorsement, and
disposed of erroneous ideas regarding
the lease of the ore lands owned by
the Great Northern Railway Company
othe United States steel Corporation
the favorable annual report of the
Mckay companies. the poor annual
statement of the Lacknwanna steel
Company the continuing demand for
short term notes ut higher prices. the
ovcrsubscription of number Of rail-
way bond issues and the Improvement
in the labor situation MS witnessed in
the returning to work of many of the
.triking operatives in Lawrence, Mass.
and the negotiations for better un-
dcrstanding between England and
Germany were among the general
matters that have in the last Few days
engrossed financial attention In no
o. of them could be found any rca-
sonablc cause for u further depression
In market valuations.
Gossip of Wall Street.
The stock exchange has proiitcd from
the dissolution of the American Tobac-
CO Company. Since the dissolution there
have been listed n dozen or more Sc
curities of the more important compon-
cnts of the trust. while previously the
only ones OH the big board were Ameri-
can Tobacco preferred, and the and
6 pcr cent. bonds of the same company.
But for these new tobacco securities.
in fact, the January liatings on the
stock exchange would have dwindled