The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-12-28
bBAR STOCKS
On THE DECL'h-
oRr SIDE REPRESENTS TRAD
ms OPINION ON REDUCTION
or SUGAR TARIFF.
COAL, is Nj elected
0oa9As AGAIN SHOWS HIS HAND
IN STEEL ny RETIRING GEO.
W. PERKINS FROM BOARD
OF DIRECTORS.
GOAL is elected

NEW YORK, Dec 27.--The clcs-
TIT was dull with some irregularity.
Norotattons from London were above
rs close Of the previous day, the
#1cresgn houses returned TO business
d Without any orders of moment IN our
Suarket The little business done was
sSen the buying side.
Es There was some talk Of reduc-
zen In the dividend on American Beet
Il uurar, but the stock would have APP
Il reared to discount sucn action. The
mort side seems 10 represent the
SHrNder's opinion regarding a redDc-
9e1on Of the tariff on sugar. American
hInxar, common and preferred, de-
@rIined a point on the same story.
The narrowness of the market was
eslsiustrated by a drop Of 1-2 on sales
Sof zoe Corn Products preferred.
II White II is not believed that the In
by the government Of this
company will result In any injury to
the property. speculative interest has
I 6een decidedly chilled.
Coal Is STRING, But Neglected.
The coal stocks were neglected AL
thougn in the main they showed IL
Akronger tendency than the indus
S2wsnls or the railroads. Lehigh Selling
x-divtdend recovered half per cent;
1S1e was distinctly firm.
Union Pacific and southern Pacific
III minor fractions, and were not af-
ecfed by the rumors that the Su
reme court would hand down de-
tufon on January 9th In regards to
Ne terms of the dissolution.
The announcement that Sears
k0ehuck will show for the year over
n per cent, earned on the common
heck against rs in 1911, failed to
rouse any fresh enthusiasm.
American Can was weak on d
auidation This stock is discredited
the Street at this time, owing to
be action Of the directors, and IL will
y difficult matter 10 restore public
cnfidence for long time to come
Steel Bonus as Usual
United States Steel will make It's
|sual distribution 10 employees under
y bonus plan. The amount to he
attributed will be about sI.50o, 000
Gninst s1.4s0.ooo for 1911. Net
Arnings for the year will proba bly,
zach s1e7,00o.o0 Most important
" announced that George w Per-
5ns would retire from the executive
ommittee Of the Steel corporation,
nd II Is strongly intimated that an
pieuousiy active in speculation. will
klSo be retired shortly The Street
Understands that tfis represents or
aers directly from ]. 2. Morgan, who
has been strongly opposed TO the opc-
BSxatiCnH of certain members of the
&Nxecuttve committee. The Steel cor
pOraticn is now directly In the con-
EArol OF Judge Gary as personal
Of j. p, Morgan and
The speculative activities of members
@4I the executive committee will moi
meet with the approval of that gen
Ex1eman.
Sssa It has long been story on the
IEkreet that George W. Perkins wak
seprced to retire from the firm of j
S1. Morgan IL Co. owing to his ope-
&xotionE in the stock market. and the
&Mews today of his retirement from the
KNxecutive committee of the Steel cor
operation WILL 1t lis hoped. tend to fur
g411er separate manufacturing from
N1peculation.
Money Sisua..o ON.
Wall Street Is by no means a united
@00mmunity, the stock brokers are III
k4n arms over the action Of the bank
@NfS regarding the renewal rate fol
ERAll loans. The purely artificial rat.
NIX twelve per cent on Thursday was
used by the banks as the renewal rate
ESyesterday, as loans renewed on Fri
day carry over until Monday. il
@meant that the brokers were com
PEELED to pay IL per cent for each o1
EAhe intervening days. which Is equiva.
Sent to making three extra days fol
Ethe bankers or thirty-four days m
kxereEt for the month for The banks
when the brokers can only charge in
k4ereet at the legal rate for thirty ont
2&ays. The absolute Injustice of thin
NkAte was proven NV the drop 10 .
per cent In the late afternoon.
Number Of shares sold today, I27,-
E11i. n wear age. 40S,790
Ss Par value NJ bonds sold today, al
k4Ex.6oo: year ago. s5033 600,