Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-03-10
BOOMERS OF READING
CANCEL BUYING ORDERS
Most Of Pool Members Take Their
Profits, but Stock Re-
acts Little.
ACCUMULATION or TEXAS OIL
Actual Bank Statement Shows
Greatly Improved Conditions Over
That OF Last Week, and May Mean
Market Improvement.
ny DI,OADAy ,y,,I

NEW YORK, March g-StoclsS were
heavy most OF to-day. bat Without ma
terial changes. The feature OF the day
was The abrupt ca4.Ccila;i III OF buying
orders for the pool that put up Read
ing: Most or the pool members took
their profits. but the gtock~had so much
vitality that IT reacted only about two
points from the nigh figure reached
aiter the six point rise friday
Butte and Superior was given live
ny market on IL report that the ltiga-
ton between that company and the
FUNERALS separation company involving
some se0.000,0 900 had been settled. Such
a settlement would also affect the
Anaconda as owner OF lutte and
superior stock. 1T wou!d also be re-
practically all Of them are Interested.
Total royalties said to be involved
amount TO nearly goo, 100000, bul the
process is so valuable that n bonanza
settlement could be made and still leave
the copper companies tremendous gain
ers.
GREAT PRODUCTI0T
CAMPtIGN IN TEXAS OH.
Texas Oil is being accumulated quiet
~ III anticipation of the great pro-
duction campaign in Texas. where the
company Is said TO have-drill!ng rights
on million acres OF land.
The annual report OF American Writ
ing Paper is expected To make it's an
pcarancc soon and 70 make bad i'm
preston. Earnings for the last quarter
OF 1917 were not up TO expectations
OHucr the railroad law as passed the
government can make special allow
ances TO roads that have made unusual,
expenditures in the last three years
expenditures ;hat did not have time TO
This Will help st. Paul materially. and
that is the reason for the strength in
stock. II is possible that the COM
pany may pay the full dividend on the
preferred now that the law recognizes
Its peculiar plight.
United states steel Corporation an
books arc 1880 cons less thau for
the previous month. This shriukaye Is
or no importance, FOR private buyers
10 not bother placing their orders any
get the material SO long IA the Hovcgu-
mcnt wants it, The steel companies
have more business than they can at
tend to, and the volume Or untitled or
dcrs may be safely ignored ~ market
factor. There is :, CROWN; demand for
Information from the steel companies
rs to the volume. of actual production
each month FOR both the government
ana the general public.
ACTUAL BANK FIGURES
SHOW LOAN INCREASE:
The actual bank statement to-day
showed an Increase in loans Of sa5,.75.-
OF Ss5.056.0no and an increase IN re-
serves OF si2.652.iie. The average
statement showed an increase In loans
OF Slo9,20S.Oo0. an Increase IN demand
deposits OF s43.92G.0OO and a decrease
in reserves of Sl,&G2,cGp
This statement corrcctS the very bad
condition disclosed week ago. II
liz evident from the great disparity be-
tween the two statements that the Inn
provcmcnt took place a. the end OF the
week. ana that may account for the
sharp upturn in stock prices seen on
Friday. The abatement lis assuring in
regard 10 money rates for the com
ing week. and TO that extent should
mean a better stock market i: military
news does not counterfeit ii.
MEN YORK. March s.--hr.rcantilc paper
%, ste!linE: SKY ,iay nliis; ;i.2's; com
commercial sixty day bills si.uS.. dc,narI
fLi5i4; cables. So. 7-lJ. bar silver. 49,.
Mexican dollars. fnl=: government bonds
steady. railroad bonds. steady.