The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-01-05
ONLY ONE ISSUE
SHQWSWfAKNESS
American Beet Sugar Is Sub
jected to Further Liquida-
ton on Exchange.
GENERAL MARKET Is STRONG
Cheerful Feeling Is Encouraged
by Several Railroad
Statements.

Great distinction in the STOCK hafne'
to-day between the course taken pF ="
few specialties. mostly iu the inou
trial class. and By that pursue1 DS INV
standard and leading shares. J. or m
matter real weakness was coh"H'N ~
one issue. American beet sugar cum
,non stock. which was subjected 10 tuf-
Their liquidation, presumably co'"ils
from the stockholders. to whom the a.
lion OF the directors of the compahs
on Friday ina passing the clFi""nd OF
INC stock which came as an enti" SUI
nrlse The matter affected IN" i"'"9
t,.iat list more or less unftForaDiy, -
sin in only general way o9'''
strength. however. developed IN tre
larger and better stocks. 2ood sha'
Of Fridays speculative sellers '"'
buvers: but there was also acc ui,i"iD
ION Of stocks by those who beheNe"
49, he haste elements Of the sitna-
ION was continually undergoing i'm
,,r,,,oroent This more cheortrl iF'4-
ios- was helpe1 by several eNcel""0
-.iiroad statements, prominent a"io'7
these being Of the Chicago. Mai"a
Ga - Paul that recorded "A gross IL
lease Of 1886. 900 in five in""ti's' %
r-nIch almost 100000 was saved y ~
,ho net For the month OF Decei"
the Missouri Pacific reported 1r00"
Increase OF sotl'"Vp. s.a,ca
rbere WAS another sharp anF ante
- ,h,. dav in sterling exchange
Tbe hank statement WAS very muoh
h,,,e- man had been looked Toy an"
49,, ,o.,s showed the large business.
t,r..c Increase was shown in deposi's'
hut the actual figures Of the surplus
reserve indicated large cash NOUNS
Of the clearing house Increased Si',"Ss
sf5 600 600. While the stock niaEht,
- ,he week was sensitive. as IL wen
might have been. due 10 -" Amer 60
Rect Sugar incident. an uhn"' 'Oie
..,,.,- --,ofdence was manifested ana
,h. general tendency OF prices was
',a.1,,- inward Money became cas-
o,-..r,,yb-re. and though call rates
,n our market approach nominal -
-. - most notable departnei- was
II ~. reduction in the time rates
T. t-,g1snd money sank over 1 per
80 heiovy the level OF the BANK OF
r,..rana's rate. which Is ialr lhoi
,a,for rerhaps. that the % per CEN
- rs,e ut present ruling IS n''
.i,eet,- TO be- long ma ntalneu- i"'
conceal truth about the ehi44e "i''1"
eial situation is that money IS
urniuc in A food 20 the great os' :,
~ 20 -h. close Of business hours
80 ,rere was no further news OF
-. 80 conference in London than
,ha, ,,i,ted in the morning newspa-
-, ~ the tenor OF all advices was
-. an eari- and satisfactory con-
'.,r.ior of the negot atoms was 10 be
49,, inc matter is finally disposed
-. .. money that has been boarded
il F., pc in fear % q genera. va.
IN -,nce more come out ana this
should accomplish great change i"
financial affairs over there
r.norts from the mercantile and IN
,...tsI business continue extremely
encouraging. As regards the hnihe
49, eufure OF the stock market inncn
s..a,,as ,,non the decision of the SUI
NC court I'm the Union Pacific ana
Minnesota rate cases. and Yet even
so-called adverse decision in the cases
co-,,d hardly affect affairs fundamen-
tally for the worse
Wall street Gossip
Although Il occurred 10 very le"
holders OF the Harrinan stocks 'hr'e
rs : chance that Union Pacihc m'Sht
he restrained from receiving ire ! =
- con, dividend. PAYABLE January
on southern Pacific stock Union
,.,,-,ersrsp Of Southern Pacific stock
"a baen adiudged Illegal. and In the
-, - a, least one OF the other dls-
.-o1,oS trusts receipt OF dividends from
s,,hsidiarv companies was at once en-
Joined.
T-rson Pacific officers were not pos
f.f,-a % their right 10 receive TINS iat-
est Southern Pacific dividend and j
MS only after cons uitatioh WIN
A.tornev-General Wickersnan tIa'
tbev took into the treasury the si-sV"'
Gee paid in account on DIVIDEND o.
Sos ooo. 600 Southern Pacific stock
- =.
1-,ion can continue 20 receive diNl-
ads on its Southern Pacific stock
.,,,ff three months after the hling OF
-he rnaudaruus OF the supreme Court
Tho rnandarnus has not yet oeen "i'u
and cannot he until the supreme '"uf'
,,asscs on Attorney-Genersl NicNei
sbam-s directions to the reorganization
plan.
Three years ago. on the reoI = Ia
20, ~ the Western Maryland. holders
OF the common stock were
$40 a share To-day the stock so.n
below 80 and closed only sGightiy
ne that figure. StocIholders since
that time have received no DIVIDENDS
=, Tho common. but dividends have
been Maid on the preferred. and the
r,rfncipaI argument against the st"cN
now is that preferred divicencs are
10 he suspended.
I.iouidation OF the common to-day
however. was not heavy and u mas
occurred 10 many shareholders ina
,he preferred is noncumulatiVe. 50
Mt srsn.nsion 81 dividends on the
preferred would protect the rights be-
hind the common
since arrangements have been per
e.ctsd for the merger 81 - Paul Win
SIS subsidiary. the Chicago. Mi
waukcc and Pudgct sound the ca % :
f,-s OF the two companies should
,..-,.fc-tn Lc construed together.
To-dav the dominant road reported
f,- october a gain Of SsSi-0eo in net
E. z. v.