Newspaper Page Text
IS NOT FAR AWAY
Railroads Announcc Remarkable
Swclling in Opcrating
.' " Expenses,
POOR SHOWING OF ATCHISON
Only Hope of Rclicf Lies in ln?
crease of Frcight
[Speclal to The Tlmes-Dlspatch.]
New York, September 3.?Stocks had
to contend this weok wlth the worst !
polltlcs and wlth bad rallroad reports
tor July. Four. leading rallroads an- ,
nounced such remarkable swclling of ,
optratlng oxponsoi tiuit tholr Increases
of grosH woro wlpcd out, nnd net de- !
croases stibatltutcd. Tho Unlon Pa
clllc showed a not decrease of $420,
010. Southern Paclflc reported a |
shrlnkago of $101,902 In not. JuHt na |
thu market hnd rocoverod from theso
ligures, Pennaylvania announced that
Ha July not was $405,100 less than
for laat year, and late ln the woek,
New York Central reported a shrlnk
nge of $1,294,870 ln Its net for tha
Thoae figures persuaded the general
public that the day of dlvidend re
ductlonu ls not far away, unloss a ma?
terial lncrease on frolght rates Is
granted by the Interstate Commerce
Commlsslon, whlch began. Its hearlngs
early in tho week.
The first stirprlscs furnlshed was
?vhen Presldent Rlplc-y, of the Atchlson,
expreaaed tho oplnlon under oath that
his systom would not earn moro than
tho bare 6 pe.* cent requlred for di
vldends ln the present flscal year un
Iosb permlttcd to lncrease rates. Such
?nrnlngs, of course, would forco a
reductlon of tho dlvidend. The street
Jiaa been under the lmpresslon that
Atchlson waa earnlng nearly 18 per
cent., but Mr. Ripley awore that lt
<-arned only 8.18 por cent. In tho last
llacal year. lt la hard to reconcilo
tbeHe statementa wlth tho offlclai re?
ports of tho company.
Denver and Rlo Grande furnlshed an
othor shock when the offlclai admls
elon waa made ln Its annual report that
thi lurgo earnings wlth whlch Wall
Street has been dollghted from month
to month. wore derlved very largely
from thc unearned Interest on the sec?
ond mortgage bonds of the Western
Paclflc, -ione of whlch can be cashed
iintll the road ls finished and earn?
lng the money.
The unlversal protest that aroso
agalnst auch a system of decoptlon.
crew from Prealdent Jeffrey an anology
ln whlch he attempted to place the
blame on ccrtlfied accountants. He ad
mltted that he knew the lncorrectnesa
of the monthly reports all along. and
proteated agalnst lt prlvately, but he
does not cxplain why he permltted tho
public to be mlsled for twelve months.
Kubtractlng the $1,100,000 from tlio net
earnings from thls source, the Denver
earned barely enough to pay Its nre
ferred dlvidend. and all hope of a dlvi?
dend on the common stock has gone.
The report of the Republic Iron and
Steel Crtmpany was of a dlfferent char
acter, and the street was pleasantly
fcurprlsed with the figures ahowing
that tho company ls earnlnu more than
4 5-4 per cent. on the common stock.
Tho company reports Its outlook good.
The Western Unlon was another com?
pany that Increased in public estlma
tlon as the report of large earnings
from the New York telegraph business
Tho stock of the Western Unlon and
the American Telegraph and Telephone
Company are looked upon with favor
by inve*jtmont bankers.
Intercontlnental Rubber was taken ln
hand by strong interests durlng the
week, after they had discovered a gen
ulne lnyeatment demand for the stock
by the public. Thls is the company so
widely advortlsed by Senator Brlstow
in hls chargea agaln Senator Aldrlch.
Tho stock Is now earnlng the eiiuiva
lent of at least 30 per cent. of Its mar?
ket value. No dlvldends are promised
on the common, however. as the pre
ferred ls all to be retlred before such
payments are made.
Kxports of copper were on a much
larger scale durlng the week. but the
Btock failed to proflt from thla. Tho
coppers are sufferlng from the artlfi
clal market posltlon of Amalgamatod
Cotton moved lnto tho foreground
wlth a prlce of 20 cents a pound for
August delivery. The government re?
port, Issued yesterday, showed the crop
had dcterlorated materlally slnce the
provious month. Cotton seems. there?
fore, in a strong posltlon commerclally.
Thls ls proved by the fact that foreign
Bplnnors aro orderlng Amorlcan cotton
regardless of prlce. Experts llguro that
owing to technical conditions in the op?
tion market, there will be a pressure
pf 2,000,000 bales moro of cotton than
last year on the September and Oc?
tober markets. These experts overlook
thc fact that there is an actual short
age among splnners of more than 2,
000.000 bales. so that conditions are not
materlally dlfferent from what they
were a year ago.
The rush of cotton to market at
Buch high prices ls creatlng storling
exchange rapidly. Expectatlon Is that
the Bank of England would lncrease
its discount rate, but money is so
cheap ln London that no action has
boen taken. Refusal of the public to
buy stocks ls making call money very
cboap in Now York, and many of tho
leadlng brokers are compolled to buy
commercial paper or borrow stocks to
keep their ldle mon?- employed, even
at the low rato provalllng.
New York, September 3.?Prlme mer
cantilo paper, 5 1-2(5)6 per cent. Ster?
llng exchange nomlnal, wlth actual
business tn bankers" bill at $4.8325(H)
$4.8345 for sixty-day bllls, and at
$4.8640 for demand. Commercial bllls
?4.82 7-8tgi$4.83 3-S. Bar silver not
quoted. Mexlcan dollars, 44,
LOCAL MARKET QUOTA'i"IONS.
KFurnlshed by Levy Commlsslon Company,
Commission Merchants, Rlchmond, Va.)
Richmond, Va.. Soptcmber 3, 1910.
ACTUAL WHOLESALE Q.OTATION8
Chickens, cholce, small,- lb... . 19
Chickens, choico, medlum, lb.. 18 @ 19 ?
Chickens, large, lb. IS
Hens, lb.,,. lSVJ? 14
Roosters, each. ss i_ 40
Geese, fat, large, each. B0
Geese, small. each., 35 (?) U)
Diieks, large, young, lb. n
?>ucks, small, young, lb.... 12 ? u
Gulneas, per head. 25 @ 30
In crates, nearby, fresh, doz.. 25
In crates, other sectlons, doz,. 28
Gulnea eggs, doz. 18
Famlly, cholce, fresh, lb. *23 @ 25
Merchants', falr, lb. 20 & 21
Veals, cholce to fanoy, lb...... 84
Vcals, poor to fair. lb. VA9 8%
Calves, runners, lb. 5 ijj 5
Bheop, lb. 3 # 4
LamtSST-sprlng, Ib.rrrrnm- 6V_ _? 7
Thomas Branch & Co
(EtUbllibed 18 MU
New York Stock Exchange
New York Cotton Exchange
Private Wires to
Condensed Statement of the
Virginia Trust Company
OF RICHMOND, VA.
As Reported to the Corporation Commission
on September 1, 1910
Loans and Discounts.$1,350,319.18
Stocks and Bonds. 162,664.52
Real Estate owned. 28,574.13
Furniture and Fixtures. 4,000.00
Cash in vault. 7,795.61
Due from Banks. 98,596.16
Undivided Profits. 48,119.11
Reserve Fund. 5,000.00
Taxes and Interest Set aside. 3,028.11
Individual Deposits. 671,802.38
We courteously draw attention to the above state?
ment and to three points of interest regarding the
Virginia Trust Company: ?
FIRST. Its Board of Directors is one of the strongest in the South, and is composed
of successful men of proved integrity.
SECOND. Its Offlcers are eareful and experienced men who know how to care for
the business entrusted to lt.
THIRD. It has a cash capital of $1,000,000.00 behind lt.
Thus Equipped, the VIRGINIA TRUST COMPANY
Invites Prudent Men?
FIRST. To make it their Executor and the Trustee for their wives and children.
SECOND. Deposit with it their inactive and reserve funds, upon which, by agree?
ment, 3 per cent. is paid. When balance amounts to $500.00 or more interest is credited
THIRD. Conservative investors may at all times secure safe investments yielding
5 to 6 per cent., these investments having first been purchased for our own treasury.
HERBERT W. JACKSON, President.
JAMES N. BOYD, First Vice-President JOHN M. MILLER, Jr., Second Vice-President.
L. D. AYLETT, Secretary. JOHN H. SOUTHALL, Treasurer.
JAMES N. BOYD, President Plantcrs National Bank.
T. C. WILLIAMS, Jr., Capitalist.*
JOHN M. MILLER, Jr., Vice-President and Cashier
First National Bank of Richmond.
FRITZ SITTERDING, Vice-President Virginia Railway
and Power Company. t
L. Z. MORRJS, President Savings Bank of Richmond.
SAMUEL T. MORGAN, President Virginia-Carolina
PHILIP WHITLOCK, Capitalist.
JUNIUS B. MOSBY, J. B. Mosby & Co., Inc, Dry Goods.
E. B. ADDISON, Director National Bank of Virginia.
H. VV. JACKSON, President of the Company.
J. J. MONTAGUE, Vice-President Planters National
Bank of Richmond.
W. S. FORBES, W. S. Forbes & Co., Wholesale Pro
JONATHAN BRYAN, Real Estate.
T. WILLIAM PEMBERTON, Vice-President Life In
surancc Company of Virginia.
M. B. ROSENBAUM, Capitalist.
ASHLEY HORNE, Merchant and Manufacturcr, Clay?
ton, N. C.
J. ELWOOD COX, President Commercial National Bank,
High Point, N. C.
WILLIAM A. MONCURE, Lawyer.
attle. falr to prlme, lb. 3 0 *
ogi, lb. *%0 9
Tiole deer, lb. 16 0 18
enlson, saddien. lb. 21 0 13
ams, well smoked, small, Ib. 21 0 22
ams, -well Bmoked, large, lb. 19 0 20
dea, well smoked, lb. 18
noulders, well smoked. lb.... 18
ry flint. Ib. 1?
ry salt. lb. 15
reen, salt, Ib. 9
reen, Ib. 8
reen damaged, lb. 2 0 I
allow . '
ceswax . 28
right, No. 1, tubwashed, lb.. 26
right. No. 2. tubwashed, Ib... 24 ? 23
a. unwashed, tree o? burrs.. 21
a.j unwashed, llghtly burry.. 18
ti., unwashed, medlum burry. 18
h., unwashed, heavy burry.. 11 0 II
erlno. 10 0 12
rled apples, bright. lb. 4
nlons, dry, bbl. 2.25 @ 3.2S
otatoes, Irlsh, No. 1, bbl. 1.76
pples, bbl. 75 0 2.00
cars . 1.00 in 1.50
eaches, cratc. 1.25 0 1.60
amson, per bus. 1.00 0 1.25
Market Conditions?Chickens aro e.treme
- actlvo under light recolpts. Eggs con
nue scarce and flrm. Butter ln good de
adn. Vcals nnd hogB very actlve mabLs
.ore plentiful and lower. The season on
>er ls now, open, and shlpment now will
imxnaiid blg prices. Other produce ln gen
,-al falrly actlve.
NEW YORK PRODUCE MARKET..
Now York, September 3.?Flour?Dull and
nchangcd. Spring patents, $4.1004.76; win
ir patonta. $4.7605.10. Ryo Flour?Steady.
ornmeal?Qulet. Rye?Dull. Barley?Dull.
Tieat?Barely stoady; No. 2 red. $1.06% ele
itor and $1.07% f. o. b. afloat; new, No. 1
srthern, Duhith, Jl.23% t. o. b. to arrlve.
pttons closed at %c. net decllne; Septem
jr, $1.08%; December, $1.10%; May, $1.15V4.
orn?Barely steady; No. 2, 67o. elevator, do
cstlc basla. OpUons olosed l%_l%c. net
>\ver. September, 66%c; December, 66%c.
ats?F s closed %c, lower.
jptember, 3S!4c.; December, _?o.
Boef?Steady. Lard?Firmer. Tallow?Flrm.
otroleum and Rosln?Qulet. Rlce?Steady.
olnsses?Dull. Sugar?Raw, nomlnal; re
led, nomlnal. Butter?Flrm on flne goods;
icelpts, 40,001 pounds; prices unchanged.
heese?Unsettled; recolpts 1,671 boxes; ex
>rts, 76 boxes; prices unchang-ecl. Eggs?
Irm; receipts 8,024 crates; prices unchang
CraCAGO GRALN MARKET.
Chlcago, III., September 3.?Accordlng to
i. expert estlmate here to-day the total
heat crop ln tho Unlted Statos ls 19,000.000
ishelB larger than tho amount lndlcated
tho August report. Influenced by the now
rtirei the marlrot closod wlth a woak tone
a net decllne of %@% to %c. Tho end of
udlng loft corn at last night's levol to %@
o. below; oats unchanged to %?54c down,
ut provUlons at tho same prlcas aB twon
-four hours prevlous, or varylng to 16c.
iln. ^ .,,.
Leadlng futures ranged aa follows;
Opon. High. Low. Closo.
Sent. .7.. 89% 99% ?tt W*
Dei .............1.03% 1-03% 1.0M4 1-03%
May .............. 1.08% 1.09H 1.-MK !?<?*?
siyi"" . 59% 89% 58Z ??%
Dec ........ 67% 67% 67% 67%
3eDSt7 . 37% 88% 32% 33%
Dec . 36% ? 36% 36% 86%
May .....".".... 30% 30% S9%- 811%
ESS PORK-Por bbl.
3bDt.20.60 20.67 20.62 20.65
jai,, -,;;.,;.is.62 is,76 is.eo 18.75
fVRD?Per 100 Ibs.
Sept ...,.;.1?.10 U30 12.10 12.20
Oot. . .13.17 12.86 12,16 12.26
&&. ".,?....U.7I JU.W ?.? tt.W ,
Jan.10.70 10.75 10.70 10.75
SHORT RIBS?Per 100 Ibs.
Sept.1Z10 12.10 12.05 12.05
Oct.11.92 11.92 11.S5 11.90
Jan.9.77 9.80 9.75 9.S0
Recelpts?Wheat, 90.000 bushols; corn, 543.
700 bushels; oats, 397.200 bushels. Shlpments
?Wheat, S3.900 bushels; corn, 480,600 busn
els; oats, 565,300 bushelc
Cash grains closed: Wheat?Xo. 2 red, flS?
U-OOH; No. 3 red, -7?93c; No. 2 hard, $HP
1.01; No. 3 hard, 97? 99c; No. 1 northern,
11.15? 1.17; No. 2 northern, J1.firstname.lastname@example.org: No. 2
sprlng, $1.03#1.08; No. 3 sprlng;. Jl.OKgl.OS;
velvet chaff, 99c.@ II; durum, SS??8c. Corn?
No. 2, 68%? 59c.; No. 2 whlte, 6&V_c.; No. 2
yellow, BOtic* No. 3, 58WS ?",!><?.: No. 3 whlte.
5S-ii@59c.; No. 3 yellow, 57?;@53i_c.; No. 4,
57?@5S1/4c.; No. 4 whlte, 5S@-SUc.; No. 4
yellow, 6-?6SUc. Oats?No. 2. 31@31?c; No.
2 whlte, 3-B4?34',4c.: No. 3, 30!_c; No. 3 whlto,
33V_@34c.; No. 4 white, 32V.1- 33>_c.; standard,
Baltlmore, Md., Septembor 3.?Wheat?
Flrm; spot. contract. J1.03H: southern on
grado, 97c._ljl.03. Corn?Quiet; spot, 6-ttc.
Oats?Steady; No. 2 whlte, 37_?3Sc. Rye?
Quiet; No. 2 Western, 73?77c., domestlo.
RICintOND GRAIN JL-RKET.
Richmond, Va.. Septomber 3, 1910.
WHOLESALE QUOTATIONS ON 'CHANGE.
No. 2 red, Western. E'lSS
No. 2 red. Virginia. ffl 1.04
No 3 red . 1M ? ll(a
_t?eamer. " ? }??
Virginia (bag lots)... -0 @ 1.00
Vlrglnla, bas lots (for soed).. ? 1.0S
No. 3 white. ? 69
No. 3 whito. ? 68
No. 2 mlxed... @ ?*
No. 3 mlxed. 67 @ 67<_
Virginia (bag lots). .0 ? 72
No. 3 mixed. ? ?
No. 3 mlxed.>. ? 3o?
No. 2 whito. ? S9
No 3 whlte.'... _' 3S
Wlnter sced (bag lots). 60 @ 58
No. 2. O J?
No. 3. ?. T7
Vlrglnla (bag lots). 76 @ 78
RICHMOND LIVE STOCK MARKET.
[Sales at Unlon Stock Yards.)
Richmond, Va., Septomber 8. 1910.
Report of tho llve stock market for th.
week endlng August 09:
Recelpts?Cattle, 177 head; calves, 73 head:
sheep, 916 head; hogs, 406 head.
Best steera, 6%?6c.; no extra flna cattle
hero; medium to good. 4_,@8Vjc.; conunon to
falr. 4?4V.c; best helfers, 644-.; medium to
good, 5?5Vic.; conunon to falr, 8%?4Mc.;
bost cows, 4?c.; medium to good. 3i_?4Vic;
common to falr, 2tt?34_c; calves, 6?74_o.j ex?
tra, 8c. Cows and calves, 125 #65.00 per head.
Best lambs, 7c; medium to good, 6M>?6Hc.s
culls and . common, 4?c; sheep, 3_UVic;
best hogs, !i',4c; medium to good, -^_"j~'3o.;
mows and stugs, 7@8>.c.
Chicago. 111., Soptombor a?Cattlo?Recelpts
estlmated at 400 head. Market steady. Tex?
as steers, $3.76?6.00; beeves, $<.email@example.com; West?
ern Btu-rs, $4,60?7.-5; stockers and teeders,
$U0?6.-5; cows and helfers, $2.so_>6.60, calves
$7 _p9.-0. Hogs?Recelpts estlmated at 8,000
hood. Market 6?10o. hlgher. _i_ht, $9.15?
9.|7J; mlxod, $8.76?9.65; hoavy. $6.S0?9.4(;
rougli, $8.60?(.6O?8.86; good to aholco heavy,
$_.6i_5-.-6; plgs, iS.00O9.60i bulk of M-OS, $8.90
?9.30. 8heen?-Rec-lpts eutlmated at 1,000
head. Market steady. Natlve, $3.85? 4.70;
Western, $8?i7Q; ycarlingu, J4.firstname.lastname@example.org; lambs
natlve, $S?7.10; western, $*?7.00.
New Ytork, Beptember 8.?Beeves?Recelpts
1,585 head. Nothing dolng; foeltng steady.
Calves?Recelpts 917 head, Nothing dotnn
ln llve culves; feellng steady. Sheep and
Ldinbs?RooelptS 6,920 head. Sheep, $3?4.62;
culls, $2.50; lambs. $6.60?7.7E; culls, $5?6._.
Hogs?Recelpts 1,061 head. Market noml?
Wm*a_nitoo? S. (V 8ent.a_)tsc AHOM *???"
dltlon of the Treasury at the beglnnlng of
business to-day waa as follows:
Sllvcr dollars. 485.160.00fl
Silver dollars of 1S90. 3,-iSj.OOO
Silver certlflca.tes outstandtng. 483,160,000
Standard silver dollars ln general
fund .$ fi.693,291
Current llabllltles. 97.7;.;'?:;::n
Working balance in Treasrury offlces 31,421,069
In banks to credit ot Treasurer ot
th? Unlte. states. 36 725.052
Subsldlary silver cola.-.. 20,314,899
Mlnor coln. 9'?.SM
Total balance ln general fund. DO.SCii'.'Jl
(Reported by Rodgers, McCabo _ Co.)
Petersburg, Va., September 3.?Peanuts.?
Stjanlsh?Firm at $1.35 per bushel. Vlrglnloa
Plrm at 4@4%c for Jumbo; 3W@3%c. for
fancy handplcekd, 2%@2%c. for machlne
picked; 202%c. for shelllng stock.
DRY" GOODS MARKET.
New York, September 3.?Many of tho largo
cotton goods houses were olosed during tho
day, so that the mnj-ket presentd a holt
day appearance. A numbor of flrms, how?
ever, opened their doors for business, and
these procured a good amount of orders
through the mall. The houso trade was good
wlth the Jobbers. The demand for Hnen la
Btrong. Ordeors are coming ln for fall and
spring delivery. Burlaps -were flrmor on the
produclng market and holders of spot goods
dld a falrly good volume of business.
Wilmington, N. C., September 3.?Splrlts
Turpentlne?Steady at 70c; receipts 116 casks.
Rosln?Steady at $5.15; receipts 73 harrcls.
Tar?Flrm at $3.50; recolpts 22 barrels. Crudo
Turpentlne?Flrm at $email@example.comB and $5.75; re?
ceipts 27 barrels.
Miller & Co.,
110T East Mnln Street.
NEW YORK STOCK EXCHANG.,
NEW YORK COTTON EXCHANGE.
CHICAGO BOARD OF TRADE.
E. L. RODEN, Manager.
lank nf ?mttmeroanft ?trusts
9th and Main Streets.
Capital, $200,000.00 Surplus, $50,000.00
DEPOSITORY FOR THE CITY OF RICHMOND
AND STATE OF VIRGINIA.
Thls strong, progresslve bank soliclts the accounts of all classes, large o
small. Business, personal and accounts of corporationa roceive our carcful
Acts as Trtistee in* Mortgages, Executor, Guardian, Receiver. RegUtrari
of Stocks and Bonds,
Savings dcposlts a specialty. 3 per cent. Interest pald, com*
Capital, $1,200,000 Surplus, $600,000
In the Selection of a Bank there are two
Special Features to Consider
First: Its Capital Second: Its Management
The National Bank
Has the Largest Capital of any Bank in the State
The officcrs and Directors are all experienced business men who have proven their abiUty*;in the
Individuals, firms and corporations are invited to becorne customers, with thc asstirancerof per?
fect protection and the uttermost accommodation.
Authorized National, State and
Three Per Cent. Allowed on Savings Accounts
The Officers a_? the Following
W. M.-ADDISON, Cashier.
W. M. HABLJSTON, President, O. S. MORTON, \
JOHN SKELTON WILLIAMS, 1 Vice- JOH^ T^^R^^' ! Assistant
WILLIAM T. REED, J Presidents H. A. WILLIAMS, ( Cashiers
JAS. M. BALL, Jr., /
The Following are the Direotors
E. B. ADDISON, T. C. WILLIAMS, Jr., E. L.,BEMISSr ~
GEO. L. CHRISTIAN, B. P. ALSOP, T. H:. ELLETT,
H. THEO. ELLYSON, T. A. CARY, EPPA HUNTON,
W- M. HABLISTON, W. P. GLINN, R. H. LINDSEY,
JAS. A. MONCURE, E. C. LAIRD, CARL NOLTING,
WM. T. REED, WM. NORTHROP, R. G.'.RENNOLDS,
S. W. TRAVERS, J. W. ROTHERT, B. RANfc) WELLFORD,
JOHN SKELTON WILLIAMS JAS. G. TINSLEY, JNO. T. WILSON.
F. D. WILLIAMS,
Banking House Corner 9th and Main Sts.
12 North Nlnth Street.
4 East Broad Street
Twenty-flfth and Broad Sts.
Willlamsburjr Ave., Pulton.
Actlve buslness accounts sollc
4?fo On Savings A<fo
910 Mutual Building,
Mad. 6864. Richmond, Va.
E. A. Darber, Jr. 'Phone Mad. 5321.
E. A. BARBER & CO.,
215 Mutunl Dulldlaax,
Branch Cabell &. Co
. 1115 E. Main St
Phonos Nos, 48 and 7934.
Members New Yoric Stock ExohanffOa
Nevr York Cotton Exchange and Chi.
cago Board of Trade.
3 %? Savings D-partmentj--%3
BROAD STREET BANK
303 EAST* BROAD STREET
Temporary locatlon during construction of new bankjng house.
Surplus and undivided Profits ? $110,000
VV. M. Habliston, Pres.; J. W. Rothert, Vice-Pres.; Jno. G. Walker, 2d Vice
Pres.; Andrew M. Glover, Ca.hier.
PERSONAL AND BUSINESS ACCQyNTS SOLICITED
With assets of over $1,700,000, every inducement consistcnt with good
banking is offered to its customers. 3 per cent. aliowed tn savings depart?
ment. Bank is operi till eighc o'clock Saturday evenings.
HENRY S. HUTZLER _ CO.
Do a General Banking Business
And soliclt your buslness and porsonal accounts. Deposits subject
to check. $1.00 and upword received, Interest aliowed-?3 per cen.
?J. - .BSSSS-SSSSS I i