The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-03-21
SETTLEMENT
sEIlDS Up MARKET
sNApsSG ACTIVE AND a DOZEN
nsen nrcoaDs voa MOVE
NEWT lAnE MADE.
! DIVIDEND IS EARNED
Steel COMBINATION ISSUES ne
roRr-rvBACCOs STEADY AND
n DEMAND-w. n. TAKES
ADVANCE.
DIVIDEND IS EARNED
sy THOMAS c. sHoywELL.

BY THOMAS c. SHosWELL.
NEW YORK. March eo.--More than
dozen new high rocorsis FOR this
movement were made today In the
stock market. Trading WIS active and
wc!i sustaine.. throughout the session
and last prices were tho best OF the
DAY. The reasons given Tor the up
ward movement were the settlement
Of the British coal strike, the excel
lent reports made by the Steel cor
,rssslfion and the Now York Central
system. the advance In the price OF
copper metal 10 Is cents for the first
sirae since 1907. and tho overflow
iEg rivers In tho West that testified
to an abundance of moisture.
Settlement OF the British strike
comes In the shape of orders from
unicr headquarters for the rnincrs To
be ready for work on Monday morn
ing Some returned at once when the
minimum wage bill was assured Of
passage In parliament. Since the fcr
cign strike which has SO many ugly
aspects has been settled so quickly
there Is no need OF worrying over
4 possible strike in America where
the questions are elementary Il. ccns-
pared with those in the British dis-
putc.
1ORkSI mere iid
abroad was largely result OF the
British strike settlement. 1t was I'D
vancing rapidly when that strike was
& declared two weeks ago. Much 10 the
surprise eyen Of the producers there
was nothing more than check. No
reaction came, and this action OF the
metal inspired then, with ouch conf
dence that they are now absolutely
confident OF their position. Tho ifrst
will hu he mn 90
OF the dividend of Au,alagamated.
Shelters moved today 10 IA new high
record for the year. This was no
doubt the result OF the semi official
announcement. from Washington that
the company is not trust The gem
eral Improvement of the copper situa-
ton also contributed.
Agricultural Conditions.
Since the present advance In the
stock market IL based chiefly on agri-
cultural conditions the news OF the
day from the farms was watched
carefully. This was Of two kinds, po-
litical ard weather. II In noted that
The farmers If the Middle West who
were highly incensed at Taft for ad
vocating reciprocity are turning back
to him. The Grange papers are al
yising their readers 10 support Taft
lest radical tariff reforms and weird
new measures interfere with the pros
perity they fancy thev see. Floods are
feared In many sections. and food
years have always been big crop
years. The claim liz being made by
some city farmers that the floods
prove that the rain is being wasted
ana not sinking into the ground That
claim is always made in food years
and always disproyed by rcsults.
The government estimated the last
years cotton crop at lS.o5o.s1a bales.
or more than 100000 bales greater
than the crop Of the year before.
There 10 distinc, Improvement In
the textile industry OF the country.
Steel business continues on greater
than average tonnage. The report
of the Steel Corporation issued today
shows that II earned its dividend In
1911. and as that was such a bad year
IL would seem the dividend must be
Nafe. The steel trade has seen the
worst and an advance OF prices OF
product must be expected soon. Some
announcement is expected on prices
following the conference which be-
gins tomorrow between rail producers
And the railroads.
Tobaccos Arc Stcaaiy.
Tobacco and oil shares were steady.
1igget Myer stock ia being accumu-
lated because Of the remarkable popu-
larify OF one brand Of cigarette the
concern 10 pushing. An officer of
the company estimated today that this
one cigarette would increase the sale
OF the year faily $l.50o.o0o above
the greatest expectations of "A month
ago. There are also signs OF de-
seIorments In the Cigar Store Com
pany
The American Tobacco Company is
considering. a distribution of its Inn
perial Tobacco stock. Such a distribu-
ton would give shareholders a big
cash bonus. The Porto Rico Tobacco
Company declared its first dividend, I
per cent. quarterly, and Conley Foil
per cent. quarterly.
The advances In Union Pacific and
Rock leland were the natural results
OF improved conditions In the terri
tories served by these companies.
Reasons were found easily for every
advance that was recorded. The fact
il the pessimism OF the public has
held the market In c.ieck longer than
would have been possible under nor
mai circhInstAfic and d large part
Of the advance in prices Is merely a
belatcd acknowledgment Of improve
msnt known to exist weeks ago. OF
course such rapid movements as have
been seen the last week cannot con-
tinue without reactions but for the
present nothing more serious than re-
acfiops need be expected.
Tho statement was made tonight by
an interest identified with inside af-
tsirs in Canada that the 81. Paul rail-
road had decided to build to Regina
Z from BstttA. going through THE rich
flathead valley of Montana to the great
wheat country Of the prairie regions
north.
Numbers OF shares sold today, Sc1.-
zs3: a year ago. 200.7S1.
Far value of bonds sold today,
1909 900: a year ago, $2,49t,00o