The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-02-09
Steadiness and Firmness Main
tanned and Quotations
Show Advances.
COPPER IS VERY STRONG
Street Believes Pending Subway
Contracts VIII BE
Executed.
Especial to The Times Dispatch. }

the day before was maintained. and
vances. The particular feature OF
strength was Amaieamated copper
but the buying was attributable 10 no
other cause than the covering or con-
tracts for the fail made in anticipa
ton OF the recent poor report or the
Copper Producers Association. Buy
ing Of the Interboroueh shares was at
tributable 10 indications that the
Public Service Commission as newly
constituted would afte; a reasonable
time execute the pending subway con-
tracts
The slow upward movement Ia
great Northern preferred stock that
has been visibie FOR some days CON
tinued, and there were advances i"I
presumably special causes IN United
states Rubber American Car and
Foundry ana various other stocks
signs that the disputes between the
railroad companies and the nreneh
were reaching an acute stage consu-
tuted a market factor.
The foitnightly report Of the idie
car surplus showed 4 small Increase
The bank return was UNEXPECTEDLY
unfavorabie although much more so
IN the average than In the actual fig
nres The loss in cash In both items
WAS 4 good deal larger than had been
predicted IN any quarter. Inc aver
age form of the statement making TINS
ont % be nearly ss.6ot.V"e. while the
actual los reported Was x3.s1".9Vv-
There has been shipped out Of the
country since the middle OF last month
nearly So 900. 00O in gold. and as the
movement IL still IA fun swing. 1t -
entirely possible from. anything thai
may now be seen that a. much more
may go before the mos ement IS con-
GUIDED
The stock market of I e week mere
~ dragged along, with a slight "ea
sning in prices nearly every day. But
even ,hose speculators who declared
themselves bearish also admitted thsl
the market gave ever indication OF
being sold to a stsucstill. aud there
we're few tempts lions TO indulge IN
ventures for the fall The better feel
ing eaused b. the moderate tone OF
Governor Suffers message 10 the Leg
isIature disappeared to greater or less
extent when the Governors bills on
The subject were made public. when
were much more radical
Relief was generally expressed when
the actual plan OF the Union PacIhc-
southern Pacific divorce made its ap-
nearance. and il was known that this
had received the approval OF the red
erai authorities. still the plan did
not stimulate dealings in the Union
Pacific or other stocks, and IL was rea
lized that Il involved the raising or
considerable amount CT new capital
Not much attention was paid in Wall
street 20 other matters. such as the IA
vora,le course of railroad earnings,
md the large increase OF stocks in
the January report by the Copper Pro-
ducers' Association.
Wall street Gossip
.fost OF those important menDers
Il the combined STATS Of the Union
I-aclfic and Southern Pacific who have
resigned from the Union Pacihc 70 pc
come officers OF the Southern Pacinc
exclusively. were in the beginning
Southern Pacific men They know tnat
road as we'll. if not better. than they
know Union Pacific. are men upon
= hoYn Mr. Hartman relied, ana can
te depended upon TO operate the ROAD
as efficiently as ever in the past
Tie formal reorgar iZation Of the
International Harvester Company ana
the Ilan 10 form a new company 10
take over the foreign companies and
some Of the local ones viii be voted
AZ ? special meeting Of the stock
holders Monday The plan provides
FOR the reduction of the capital stock
from $4,000 900 to SI0.00o,0o0. 10
chanre the name of the company TO
the International Harvester Company
OF New Jersey. and 10 divide the cap
ita' stock into sSa.00o.0oo per cent
deferred and s40000.000 common.
stockholders of the old company will
have the option of taking cash for
half of their present holdings at the
rate of 500 share or o. accepting
an equal amount Of stock in the new
international Harvester Corporation
The Underground Electric Railways
Of London has declared a semi-annual
dividend Of per cent on the income
ha..ds. an increase of . per cent per
sruum 4 dividend at the rate or
DER cent per annum on the debenture
stock was also declared. Hany OF the
Income bonds are held in this country.
rhe business OF the railroad COM
r.n.es last fall was So large that
reports of record-breaking gross earn
'ncs for any one month because more
or less commonplace item or daily
ucsxs What statistics are already
.vas.sbie regarding January show that
tn.,r.. was no such falling OF in bust
ness as might have been The New
nrl< CentraTs reioading figures show
ec a. increase over the same month
LIST wear Of S24.702 cars. and were the
largest for that month in the his
tory OF the company Great North
eru-s gross earnings increased Sf49--
So over 1912. and in this connection
u is interesting to note that the Great
Northern was more embarrassed by
weather conditions during January
than we're the majority OF roads
statistics proving that the present
stock market is the dulIest since last
midsummer and the dullest at this
Se..ss for years and years back. in
spitc Of the great increase in the
ruriser Of securities listed. have be-
coa.e unpopular as tending TO induce
peSsimism-
They are also considered in parti-
cuIa-lv bad taste at this time. New
erth-l.ss. there were not p few poo
pIe Who could not refrain from re-
marking hat the past week has been
something rather unusual in this re-
sp.ct Daily average transactions did
not sun much over -0o.00o shares.
There have been weeks. Of course. In
midsummer when stock Exchange bus
mess has been less. tut there have
beer few in the history Of Wall street.
when the announcement Of highly
important hit OF financing like that Of
the dissolution plan 81 the Union Pa
enc and Southern systems has been
.tter,fed bv as little excitement IN