The times dispatch. [volume], February 06, 1911, Image 6

About The times dispatch. [volume] (Richmond, Va.) 1903-1914

Image provided by: Library of Virginia; Richmond, VA

                
MARKET IS SLUGGISH
WITH WEAKER TREND
Action Is Largely Ascribed to Chicago Rumors.
Corn Eases Off, Then Rallies?Reduced Ar?
gentine Crop Estimates.
New- Vork, February ?Domestic
wheat markets were dull early In the
week. Prices fluctuated Irregularly,
but traders were inclined to hold aloof
und await developments. The uncer?
tainty as to intentions of the bull lead?
ers in Chicago was an ' tnlluencc. and
their failure to support May contracts
tu the Chicago market was a source ol
perplexity. The price difference be?
tween May in New York and Chicago
Widened to 5 ."-4 cents, against 3 T>-S
cents a week or more ago. which led
tonic traders to think Hum the deal
had come t" an abrupt end Other deal?
ers were skeptical . of this, as they
thought professionals who were en?
gineering the deal were too strong
financially to give up now; Operators
vi such large calibre do not generally
abandon a dc;,i of such magnitude so
abruptly, especially when apparently i
nothing has developed to uliaoge tho
situation or i?< weaken their hands.
The position is seemingly .tust as fnv
orublt for them now as it was at the
outset. Our export trade has been dis?
appointing, but this was offset by the
reduced estimates as to ?he surplus in
Argentina, now- placed y 1,out'.eon
bushels, against 00,000,000 t<> i 00.000,
ooa bushels previously, and by the con?
tinued unfavorable wcatlu i in wlntei
wheat territory, and especially in tho
Southwest, where the plant' has suf
fered owing to prolonged drought; and
alternate thawingaand freezing
In view of all the facts descitbed, It
is small wonder that the general spec?
ulative crowd felt compelled to move
cautiously. A slight decline early in
the week was partly attributed to dis?
couraging cables. European markets
being influenced by the unexpectedly
large world's shipments and the re?
sultant big increases in the, quantity
on passage. Furthermore, there' were
continued offerings of cheap wheat for
forward shipment from India. Russia,
.Australia and Argentina. The depres
eion in domestic markets, portly in
sympathy with a sharp break In Win?
nipeg, where prices fell suddenly, sug?
gesting free liquidation by tired and
discouraged traders w ho had overload- i
ed, anticipating a big rise in case the I
import duty was greatly reduced or '
abolished. Evidently they discovered
that they had been over-hasty In as?
suming that such a radical change <">f
policy could be brought about sc soon
Afterwards tlure was more steadiness
und a full recovery ensued, as small
sellers for the decline were inclined to
cover, prompted by the fairly large
reduction in the world's available sup?
ply, the big increase lh Liverpool
stocks, and the big falling off In tho
receipts at primary points and es?
pecially In the Northwest, where they
wore more than 50 per cent, loss than
a year ago.
So t;rc?< >t'hutiBo In i*rleek<
l.atf In the week there was no
radical change In the general position,
although there was a further gradual
sinking to lower levels. Nevertheless,
there were numerous rallies, and
I hence the net changes were rather un?
important. As a mutter of fai t, there
was almost nothing in the market
'news or statistics to justify wide
II net tia t ions. The downward trend
was checked temporarily by continued
light primary receipts, und ospeciuljj
in the Northwest, und partly by rather
encouraging cables, Kuropcan markets
being influenced t>> the smaller ox
ports from Argentina than expected,
but this was partly offset by the large
increase In the \i.-H>!e supply in that
country and the continued free offer?
ings of cheap wheat f>>r forward ship?
ment from India. Kussia, and Argen?
tina. Drought is still Complained of
III sollte parts of the Southwest, and
rain, or, better still, a heavy snowfall,
would be highly welcome. In other
[?arts of winter wheat territory, con?
ditions are considered fairly satisfac?
tory. The general depression was at [
tributed partly to the indifference ]
shown by exporters, the duluess th |
the milling trade, and the numerous
vague rumors respect inn selling bj ;
Chicago bouses supposed ic represent'
the big bull party.
Small juice changes occurred in the
corn market during the week. In fact,
the situation is almost identically lite
fame as noted ti week a go. Apparently
every time May contracts iii Chicago
broke to fit) cents prominent houses be?
gan to buy, and consequently the price
rarely remained long below that ligurc.
notwithstanding fairly large primary
receipts early in the week. During tie
late trading there was more steadiness
and a small recovery ensued, which
was ascribed to reports of lighter de?
liveries by farmers at country sta?
tions and to the marked falling off lit
the arrivals at the chief centres. Mean?
while export demand lias been fair,
and the clearances for the week were
unusually heavy. The late strength
w;,s al?o partly attributed to encourag?
ing; cables, LIurnpcun markets being
Influenced by limited shipments from
Argentina, and by continued unfavor?
able crop reports from that country,
where continued drought and extreme
heat have caused further deterioration,
and hence estimates as to the probable |
exportable surplus have been again
reduced, the latest authentic report i
making it only 21,300,000 bushels,]
against 103.70S.00O bushels exported in j
the past season. Naturally, therefore.]
it is the general assumption that utir !
exports during the current year will j
show- material enlargement. The ox- I
Ports during January w ere approxl- !
niately S.100,000 bushels, against f..- j
700.000 bushels during January, 1910. j
MARKET DEADLOCK
HAS BEEN BROKEN
Decision of Old Bull Interests to Retire Cause of
Heavy Liquidation Both in This Country
and in England.
New York, February ?The dead?
lock which has prevailed in the cot?
ton market for the last month was bro?
ke!', suddenly Frldhy by the develop
nicht of heavy liquidation. This oc?
curred simultaneously here and at Liv?
erpool. It Seeths lb be the result of
tlie decision of some of the old bull j
interests to retire from the market. !
temporarily at least, after having
worked persistently on the bull side
since last summer. It Is believed the
sudden falling off in business with
India and China at Manchester, cutis
Ine spinhers there to practically with?
draw from Liverpool and Southern
spot markets as further buyers, influ?
enced this decision. .
The progress? pi the plague in Cltimt.
vauslng dr.y. g^yds fnerchants there and
yarn spinners to ?either cancel or hold
up orders previously placed with Enjg- 1
lish manufacturers, together with. the
fall of a penny per ounce in the price :
of bar silver, affecting new business ,
with India, seems to have alarmed, for
the tittie being, the trade at Manchester
and Liverpool. After having stocked
up somewhat too heavily in anticipat?
ing their requirements for the season.
bo as to l>c protected against .1 pos?
sible repetition of the 10 and ifl-Conl
bull campaigns put through by (he bull
cliques here last summer, many are
t ow trying to hedge, while recent over
enthusiastic bullish traders ate liqui?
dating.
The Urek'*. Ilearlsli I-'nel or*.
These developments occurred just at
'> Mme when bullish sentiment here
was about to break otit afresh In tho
tottop market, in sympathy with (he
bull movement; which lias been spread
Ihg throughout Wall Street and tin.
financial district the past ten days.
Those w ho had 0* gun to enter the mar?
ket again on the bull side did not rc
pt.rd :!.. Chinese plague or the decune
Sn silver as much' of an argument at
first In affecting sentiment at Liver?
pool or actual trail.editions a-. Man?
chester. Consequently they were In?
clined to continue their support of the
market of earlier in the vveek. But
when Liverpool be'gah to break <n
Thursday they stopped b'hying, and
when Liverpool finally broke tiliiirnly
before our opening y'.t -tr d i\ . they jlbi
bhlv withdrew their siupp'ort < r.tii ely.
but turned heavy Kelierk Li-?. rp ?']?
however, had already begun to .send
heavy selling order.i tor-, ur.d with
market lacking the stimulus oi 1 el ? ri
Interest of any importance or outride
buying, this inej'oased tie Keith g pres?
sure to s.:eh ,:h e\t.-nt St Was i? 11;.?>-.
hie for the market to stand up again,-.
The S|ip mint!?v <: t:t limk.
The oiri bear l?terests, which had j
been 'irixloufdy waiting for months lorjj
such a break hi t .. ranks <?( the but hi)
?here ond at I.iv?: rpo?; 1 .start a ireaii'l
bear campaign; were quick to notice!
this rnark-il chunge of < oh(11 tioils it: |
their favor. n? j u ephseqtjence of'
this encouragement they h3vo been ag- !
greKSlviily haminei tn^; tie- market a'.l
the week. They wer?, however, par- j
ticularly active in Friday's thirty-point i
break, and haying succeeded in forcing
prices .down to new long levels;, there
are now mar.y more bears operating
against the marketihdh there are
friends er 'bulb, to kupport it i'ot1
th*s* reasons, 'the tendmiey u\ the mo?
ment pow svems to he more in fa'voi <?f
still lower prices, before fh< present
liquidation and s!.ort selling move?
ment ha? run 1th course and the mar?
ket get8 Into ??? sulflciehtl) liquidated
or oversold state foi si fresh upturn.
It is a question, however, whether hold?
ers of actual eottoti in the South, car?
rying the small halancc of the crop
left unmarketed, will be influenced into
throwing over their holdings to any
extent under the existing conditions.
The Work's Klinge In I'rleeMi
During tlic first two days of tin
week lite market ruled \ery firm, and
by Tuesday prices had been advanced
six points on all this crops options to
the basis of l;"> cents for May and .Inly,
while October of tin- next crop was
advanced twenty points, to its high
price of |3?s cents, liy Wednesday af?
ternoon the market, however, had be?
gun to show signs ol weakening, in
sfytiipathy with Liverpool, but it was
not i mil Wednesday afternoon that
the selling pressure from that source,
and the inside liquidation which had
begun to develop here in consequence,
made itself : u. Friday liquidation
and shi.rt selling were so general that
trailing war the most active for any
day in many weeks, with the market
breaking nearly thirty points, an I
tilit)lly closing at the bottom, with I
Match at 1 1 May and July about j
1 I..".,*., and August ll!4 cents, against,
1.3%,. centf f?r next ????tober deliveries.
This makes a decline of between forty
I and fifty points for the week.
DRY GOODS MARKET
New York. February ?.?The cotton
goods primary par markets ruled will
quiet and easing tendency in print
cloth, yarn may* goods at the end of
I th< week. .Must of the leading lines
I of napp.xl cotloi ror fau delivery lwvo
been so! i up and withdrawn, notices
to this cfe ?: having gone to the trad.'
in the. past few days. There is still
it i.e.;. ffiir demand for staple print*
and glnj|ii;jiii'u and for dress clngham:*
retail bcl.'w i.S cent.-; ;1 yard Denim-*
hhye sold more freely, but th-re
com plaint mi this quarter becattse d
the ihabillt ?' to secure values In keep
j Ing w'th costs. The local jobbing trade
i^ doing a satisfactory and steady
; busin<--5- in eomesti -.s. prints anil glntr
hainsi While the call for cottons in
j ready-to-a: goodi? not .-.et set In.
. Iletail fjiiyr.-rs arc a'o'v.; i.-oniirig into t; e
I market >u larger numbers, and during
\ tiie coniirv, Jew week- it i- believed
that t!???? lobl tig house operations In
m! ^ el la ii ??- ? ? pi r* uoTi t . will broad?
en con dder.i'.'l.v The yiirn markets
; rui- q;ti---. with prices irregul?r ane
i ne iIii.irY.i t f drills and ?>iectJns*!
beb) faitiy ft'-j-!;-, because of the
f a 1 i.:' i.-''-:ils to ffn or. -?Hing
? ??is .. ;:rc,.' ib.t'sef, nat the demand
n >t in ? ; i^' -. :th the output,, ano
1'n'h !? i' -1 i I ' t.i'.:i ,f production !?
>k .i ' ir iuittl prl give uiIIIk v/? t ?
t?i to ?tri i Fine combed yarn
hit hit: i ? <: i n<] , tine carded y a.- :?
00 i - h ivo = il!'. r><-?! a little. Kail
tivei- .<?'. . : ? ;i JO.OOO p..jc*j of print
;-.thH Mi.; enrtc-li?the out! ;t '?hont
0:000 p|.?J ?? a.
ICxpoH trad ? ? ? h** n generally
i\tiet> Hie r<-. 'iti8 !T. .trade i* tha
aU.e. tnhbt !.?. > in I ?!? -pre.":.!
!?? <?'.-. he,c of- tii- limited prodiP!
i'?n a fid 'ie 11 n \vl 111 n v>: i? ?e? Of mahn
:a?:t-iifjiirs i" .:< < -pt r?:rti.frr !oj ;e ?
OPKN .'? N AO."oi::?:?(' with
The Union Bank
of Richmond
1101 kast main xti*;:;; ;
f 1.00 maki'.s a BT a KT, ?, Vi.i:
obnt fMTKHf: ft
Wood's Seeds
For The
Farm and Garden
have an established reputation
extending over thirty years, be?
ing planted and used extensively
by the best Farmers and Garden?
ers throughout the Middle and
Southern States.
Wood's New for 1911 will
Seed Catalog |Hpr y.ou to
.? determine as
to what crops and seeds to plant
for success and profit. Our pub?
lications have long been noted
for the full and complete infor?
mation which they give.
Catalog mailed free on
request. Write for it.
T. W. WOOD # SONS,
Seedsmen, - Richmond, Va.
House Committee Will Listen to
Arguments for and Against
Kellum Bill.
I Spec! 11 t o The Times -1 ?ispatch. 1
Raleigh. N. C. February 5.?The
j loose Committee on th? regula?
tion f the liquor trait'to has an?
nounced a llnal and full hearing on th?
Ivel I Urn bill for local option privilege
in New Hanover county, and the city
of Wilmington for Wednesday of this
week, beginning at .1 o'clock. Ther?
was aii informal discussion of the bit!
at a committee conference Fri?
day, during which L. B. Rogers, op?
posing the Kellum bill, read a telegram
from 3d. 1*. Pearsall, wholesale mer?
chant of Wilmington, declaring his
willingness to pay $1.000 to any State
? ?harity if Representative Kellum could
prove his proposition that he repre?
sents generally the best people of Wil?
mington or a majority of the whole
people of the city. Furthermore, that
he voted for Kellum In the last elec?
tion, not knowing his stood on the
matter now up. In a cross-tire discus?
sion between Itcpresen ta ti ve Kellum
1.. 15. Rogers, the latter contended, as
heretofore, that the recorder's court
is openly Jailing to make any effort to
enforce the prohibition law, and .Mr.
Kellum that Mayor MacRue has made
little or no attempt In that direction
W. C. Peterson and W. W. Koch were
present with Mr. Rogers to protest
against the Kellum bill. Mr. Koch in?
sisting that if the local option ques?
tion were loft with the people of Wil-1
mington the liquor forces of the. couti- j
try would put $100.000 or more into j
Wilmington to buy the election.
Mr. Kellum suspected that the pro?
hibition forces would lend the liquoi j
people a close race in this direction
Mr. Peterson believed that the passage
of the Kellum bill would mean the
most disastrous trouble for Wilming?
ton, even if the people of the city re?
pudiate tlie Kellum bill; that the city
heeds and must have quiet and ia\v
enforcement.
Prominent legislators here regard the
whole furore over this bill as misplaced
entirely, for the reason, as they insist
that there is not tin- slightest chance
for ti.e lull to receive any considerable
support in either branch of the Assent I
biy. I
The most unique committee hearing
before any Legislature In recent years;
was that before the Senate Judiciary ,
Committee to consider the Cobb bill
to change the name of the Croetah
Indians, in Robcsoii county, to "Cheto '
kee Indian.- of Robcson." A big del
c gat ion of Croetans, backed up by
prominent citizens of Kobeson, were
Iki-c lighting fed the bill, and Chief.
Welsh and Assistant Chief Sounook.
of tin- < :heroke< Tribe of Western
North Carolina, were here to tight any
invasion of theti name, to ssiy nothing
ol their entitlements thereunder to the
fostering care of the government. W'th
them was Superintendent Frank Ky
selka, of the Indian School at Cherokee,
the three forming the inner council or
I the tribe. Fighting for them and
I against changing Croetans to Chero*
I kees were numbers of members of tho
Legislature from Western counties
I They, had nothing against Croetans.
j but lougiit the claim that they have
uhy right to the name Cherokee. Col
| oiiel N. A- Colsan, Hx-Sherlff McLeod,
! Anderson Locklear, Gaston Locklear
j Km mi it Sampson, the three last Croe?
tans. were the principal speakers foi
changing Croetans to Cherokcos.
.Untiers Affecting I um urn nee*.
Commissioner of Insurance James R.
Young Jsas prepared and is circulating
ntnohg the members of the Legislature
and people generally a condensed
statement of the recommendations of
the legislative Investigating commit
tee of tin- Neu York Legislature re?
cently made public, in which the coin
mit tee declares Itself on the 'valued
polk ." "co-Insurance" and "antl
cbhlpact an.) rating exchange," all of
which are live issues in Impending
legislation in this State. The New
Vork committee urges ihr Legislature
to "resolutely refuse io countenance
t;o- 'valued policy' Speeles of Irisur*
ah tie heresy as tending to place a
premium on arson, and putting temp?
tation in tiie way of the insured when
prosperity fail-, consensus of opinion
being that it Is dangerous legisla?
tion.
?f the "co-Insurance" feature, which
ja operative In the larger > ? 11 i e- h of
j Nbr.th Carolina and with inanufaetur
' in? plants having prescribed lire pro
I'M tlon, the committee pronounces it a
valuable bar-is for equitable ruing, and
recommends ita continuance, with the
1 Injunction thai the companies see t<< it
that each insurer having it in his policy
i tinder* tandt; l*u purpose and effect.
Treating the "anti-compact and rat
rig exchanges," correxpending with the:
.-<, >';.? .: >< Tariff Association In this1
[ Htsfe. rigainli) v.-hb h the Koonce uub-!
i ri.iori ->y bill to; ih'-'iude tire insur- j
, t I >? New York c?ni*
? i r |t ?/.'? .),i be most tin*
insuring public for a
.' ? -'/?. . ' t it ton it; rates
.' , iUih HlHte; urges rec
antl-t fun t
combln ?il?n,
iircfcx that
>? ? ? i.
i*r*d x;<re/id
IH/pCl rat'S
,.? ...i. tliciii
prtr:
i opi p !J
>*e The
t!;.it lie
WEATHER MAP WILL
BE WATCHED CLOSELY
Now Orleans, La, February 5.?The
cotton market this week promises tc
be a little more active than it has been
for some time past.
At the end of last week, the trade
was still very uncertain over the situa?
tion in Europe In general, and In the
Liverpool market In particular. t'on
tinentat mills were credited with hav?
ing chocked the decline in Liverpool
by buying large quantities of spot cot?
ton.
The bubonic plague in the Far Fast
lias been given rather a prominent
?place among the features of the mar?
ket because, should health conditions
there become worse they would af?
fect Manchester's business in cotton
cloths. For this reason news from the
Fast will be eagerly looked for and
one way or the other will be used with
effect.
To soni" extent the long interest
was liquidated last week, but there
still remains a large speculative long
interest in the market which bears are
; generally supposed to be working to
I dislodge. If further liquidation is
forced It will cause lower prices on
the old crops and because of the danger
of It the market letters from commis?
sion houses that will lie read Monday
morning- will quite generally iidi'lso
outside traders to let the old crop
months severely alone until conditions
I are more settled and In the meantime
turn their attention to the new crops.
October and December this week will
assume considerable Importance of the
nearness of the planting season, and
the growing desire to discbunt new
crop conditions. Another thine, the
new crop months are trading at such
a great discount under the old crops'
thta litucti straddle trading will he at?
tracted to them. The chief feature of
interest, centred with the new crop de?
liveries will ho the Texas and Okla?
homa situation. Last week closed with
no relief to the drouth In either Stute,
and telegrams said thnt plowing was
being stopped in some seetlons becauso
the ground was so hard. With the mid?
dle of February approaching the ques?
tion of winter rains will he of vital
Importance this week, and the cholco
of the new crop prices will depend
greatly upon the weather map.
OOETHALS WANTS
10 FORM GAMAL
Believes He Can Do Work With
His Force and Save Gov?
ernment Money.
[Special to The Times-Dispa teh. 1
New York. February 5.?-Colonel Geu.
\V; Ct?ctlials, who arrived yesterday on
tin.- steamship Colon, from Pansiniu, on
rotiit for Washington in response to a
cable fiom the Secretary of War, said
that his visit to the capital is to
report to the Appropriations Commit:
tee regarding the fortifications of the
canal.
"Now that we have spent so much
money on the canal there is Only brio
thing to do. und that is to fortify It,"
said the c donel as the steamship came
up from quarantine. "It would be a
mistake to leave it unprotected, and it
would also be a mistake to use tho
navy to defend it.
"In time of war the navy is sup?
posed to take tho aggressive and seek
<> I*. the enemy and destroy it as soon
as possible, and the use of the navy
for defending territory that can be
well defended bv land fortifications
would be wrong.
"We should build batteries alone
the scacoust and provide sufficient
means for defense of the locks, so t i; 11
tiny land force could be prevented
from harming them. The Secretary
uf Wae asked tue to come to Wash?
ing ion at once, so I caught the tlrsl
boat anil shall be in Washington on
Monday."
Colonel Goethuls said that although
the canal would be open officially on
January 1. 1915; it would be possible
lor boats to pass through as soon as
tl.a contractors complete the locks,
which nrobnbly will be in July. 1913.
Wiiei* it is decided to begin the work
of fortification, the colonel says be
wr.nts to do the job.
"The estimates wore nil prepared
Uy ihc Board of Fortifications," he
continued, ?'but I have got an organi?
sation on the Isthmus that can handle
the whole thing and save the govern?
ment expense."
Regarding the landslides that havo
caused so much trouble at the Cule
bra cut, Colonel Goethnls said this
work would be the experimental lea- ,
tore of the canal rather than the Ob- i
tun ilnm. He says the landslides do 1
not o.iuse much alarm, and that it is I
just a question of waiting until the j
ehrtli finds Its natural slope befot'o
the slides cease.
"Wo estimated that there would bo
about 6,000,000 cubic yards of earth
thai would slide, and we calculate that
there are still 5,000,000 cubic yards to
come," the colonel added. "The last
slide caused a tremor of excitement
because the gardens adjoining a few
houses were swept away, and when
tin- owners aw?ke they found that
their gardens were some thirty or
thirty-live feet lower."
I.a.st year U.Ooo.OOO pounds of dyna?
mite was used for blasting, and the
explosive is received on the Isthmus
In 3,000-tbn shipments. Colonel Goe
thals said that it required the utmost '
vigilance on the part of the police to
keep track of the; dynamite. . as the
laborers steal it and sell It to llsher
men.
The isthmus has its four hundred, he
said, and a man's position in society is
dt termlncd more or less by the wages
he earns, the house he lives in. the
food he eats anil the quality of his
furniture, All these details, however,
form toples of conversation between
the wives, who havo little else to
ihinl: of
"liven suffrage, has at last Invaded
the Canal Zone-. Miss II.-leu Roswoll
who organized the Woman's Club, al?
ready has given a number of lectures
and promises a good deal more In the
line of suffrage."
The force of 30,000 men at nrcsent
employed on the canal will not be re?
duced until 1913, when the concrete
work Is finished, he said.
II lacket it nr> Tobneco. Market.
[Special to The Times-Dlspaten.]
Ulackstone, Vu., February 5.?This
market had heavy sales last week, sell
FRESH CONFIDENCE
IN BUSINESS WORLD
New Vork. February 5.?Fresh
growth of confidence in the promise
of the prosperous outlook for bus?
iness was reflected in the- renewed up?
lift of prices and expansion of activity
in the stock market last week. Two
incidents of the week were a dominant
effect in shaping speculative sentiment
the statement of the program of im?
provement of tin; Union Pacific and tin
supplementary announcement of t.balr
rnan Clary, of the United States Steel
I Corporation, with the quarterly state?
ment of earnings.
The decision of the Union Pacific
! management to proceed with the
double-tracking of the system by tlttl
i expenditure of 75,000,000 extending I
I over the next five years swept into |
' the background most of the misgivings]
I over railroad conditions which still re- j
i mnlned. This program and the ex- j
I presslon ; of confidence by the chair?
man of the Union Pacific board prb
I claimed a sense of security for the
j future which Is not impaired by the
, still undecided question of railroad rate
Increases, the anti-trust cases before
the Supreme Court and the suit for the
' dissolution of the Union Pacific and
Southern pacific systems. Approach
1107 Eant Main Street.
Members:
NEW YORK STOCK EA'f ?I tXGK.
NEW VOItK COTTON EXCHANGE- j
CHICAGO ItOAIlD OF Tit A DE.
13. I,. n?DEN, Manager. j
of the time for the decision of the^o
questions threatened to bring them Into
force as repressive influences un finan?
cial progress. The Union Pacific an?
nouncement proved a timely factor,
whether designedly or not, in counter*
acting this Induoncc'
Restored confidence on the part of
railroad managements may be traced
to the ready absorption of new capital
Issues. Issues of nev. securities in
.1 unitary were $225,000,000 in the New j
York money market, a new high record j
for that month.
The prevailing sentiment of specula?
tion was signalized in the resolute '
way in which the poor showing of the I
December quarter of the United States
Steel earnings was ignored in favor
of (he announced improvement since
the first of the year.
This statement said that the dall>
average of booking of new orders foi
the corporation had risen in .January !
to 80,000 tons, compared with 22.000
tons in November and December.
The controller's abstract of national
bank returns as of January 7, was
notable for a drop of $191;566,00Q In
Individual deposits in eight weeks, with
a parallel reduction of only $13,000,000
In the loan account. New York clear?
ing house banks accounted for SP>-.
000 of the shrinkage In deposits and a
decrease of $117,000.1100 in their "ex
eiiar.gcf; at the clearing1 house" was
held responsible, due to the fact of
the call coming on Saturday with no
Stock Exchange transactions, figuring
in the statement. Duo allowance must
be made, however, for the fact that
New York loans remained in large ox
cess of deposits tip to the middle of
January, when the abundant inflow of
I cash to reserves corrected that fall in
1 the banking position.
opened an account with us recently,
and said that he had been intending
to do so for six months?but had
simply been putting it off from day
to day.
We have some other good friends
just like this excellent gentleman
and to them we present our com?
pliments in three words?patronize
3?/o Paid On Daily Balance
Cash Capital $1,000,000.00
922 East Main St. Richmond, Virginia
JrmmriaL
Jftrumcfal.
your bank for safety and its ability and willingness to
serve you.
of this bank is attested by ample capital and surplus, its
strong, conservative directorate and capable officials.
The Service
rendered our customers is careful, courteous, prompt and
satisfactory in every way.
receive the same attention as the large, and is as much
appreciated.
CAPITAL, $1,000,000.00.
SURPLUS, $1,000,000.00.
RESOURCES, $10,000,000.00.
OF RICHMOND, VA.,
1104 East Main Street.
303 EAST BROAD STREET.
Temporary locatio'' ''tiring construction of new banking hou^e.
Capital - . - - $200,000
Surplus and undivided Profit3 ? $110,000
\V. M Habliston Pres.; J. W. Rothert, Vice-Pres.; Jno. C Walker, 2d Vice
Pres.; Andrew M. Glover, Cashier.
PERSONAL AND BUSINESS ACCOUNTS SOLICITED.
With assets of over $1,700,000. every inducement consistent with Rood
banking is offered to its customers. 3 per cent, allowed in ^avin^? Depart?
ment Bank is open till 8 o'clock Saturday evenings
f
Ihr 300.000 pounds. Prices ait well up
on ail grades.
Under the continued "scasotV it is
probable ilia' the crop will soon be
marketed, it I.? estimated tliat about
50 per rout. <??' the crop lias been sol '
Tliero hnj heen a good many Ilm
wrappers on the market in the past
vteek, some of the llncst over scon ?>n
this market. The crop in this section
.shows ihc length and color.
The following prices are quoted;
Lugs. tominon.$ .'. to J ?", 00
Lugs, good with length <; ~:> to 9 00
Short le=if. 6 50 to S 50
Shipping, ti'3dlum. <> 50 to 10 -jo
Shipping, hoe. 10 00 to i t 50
Wrappers, plu r I. l" 00 to 14 00
Wrappers, line. H 00 to 30 qo
A Sinn]I AiHlsritncnt.
[Special to The Times-Dispatch. )
Staunton. \"a.. February 5. ? I. Iscninn,
who has conducted it, clothing store
here for about three years, has made
an assignment for the benefit of
creditors. The liabilities are about
$15,000, with assets <>! perhaps $10.000
U, Ney; of H?rrisbhburg, is the largest
creditor, for $4,250.
ICntplnyc limit..' Hurt.
I Special to The Thnes-Dispi tch. 1
Spencer. N. C, Februa ry 5.- !"re,l
Loftln, an employe of the Southern
Hallway Company ill Spencer, was se?
verely injured here lo-dny by being
struck in tin- head by a heavy pipe.
While working around a locomotive he
was knocked unconscious, and was
rushed to a hospital In .Salisbury f"r
treatment. Three years ago he wits
seriously injured by the explosion ??f
a powder magazine in Spencer, losing
an eye. in the accident, and had n>>t
fully recovered.
Our new five-story building, with rail?
road sidings at the door, enables u* to
carry a large and varied stock of the latest
Sanitary Plumbing Fixtures and to
guarantee quick deliveries in and out of
town.
McGraw-Yarbrough Co.
Plumbers' Supplies
122 S. Eighth St., - Richmond, Va.
Out-of-town orders shipped nuicklv
t THE BEST
TO AND FROM WASHINGTON AND BEYOND.
Leave Richmond I Arrive Richmond
?4.50 A.M. Byrd8t.SU.
?6.20 A.M. Byrd St. Sta.
?5.42A.M. 31alnRt.Su.
< [7.15 A.M.Byr* St.Sta.
*8.40 A.M. Byrd St. Sta.
?JO.SO A.M. Main Bt. St3.
?12.01 noon Brrd St. Sta.
t4.00 P.M. Byrd St. Sta.
S4.1? P.M. Elba Station.
*6.J6P.M. Main St. KU.
?8.20 P.M. Byrd St. Sta.
?7.60 A.M. ByrdSt.SU.
jjl 1.25 A.M. Elba Station,
f 11.36 A.M. Byrd St. Sta.
?1.12 P.M. Main St. Sta.
?2.46 P.M. Byrd St.Sta.
?7.25 P.M. Byrd St.Sta.
IS. 10 P.M. Main Kt.Sta.
*0,10P.M. Byrd St.Ma.
H0.20 P.M. Byrd St. Sta.
H1.25 P.M. Main St. Sta.
?12.50 night Byrd St.Sta.
ACCOMMODATION TRAINS?WEEKDAYS.
Learo Byrd St. SU. 1.30 P. M. for Frederlcfcsbarg.
l.earo Elba Sta. 7.50 A. lb, 0.30 P. M. for Aihland.
Arrlre Byrd St. Sta. 8.25 A.M. front Fredcrlcksb'g.
Arrlre Elba Sta. 6.30 A>M.,5.30 P.M.front Ashland.
.-:-a?i
?Daily, tWeekdays. 'Sundays only.
\ Daily except Monday.
All traino to or from Byrd Street Station
(except traina leaving 4.50 a. m. and arriving
13.50 night) atop at Elba. Time of arrivalo and
departures not guaranteed. Read the aigna.
Norfolk and Western Railway
GNL.Y A EE ft AHL, UM, TO NOKKOLK.
Schcdulo In fCCoct January 10, 1911.
ucavti ?yru titreei Statlrn. Richmond. FOR
I-rOKKOEK: ?ImOu A. M.. ?3:00 ?\ M.. ?1:10 P.
M,
FOR ET NCH ~JS URO AND THE "ZEST:
??:1? A. M., 'Oa-o A. M? ?3:00 P. M.. ?S::j
P. M.
Arrive Rlolir.,onri tram Norfolk: ?11:40 A.
M., *H:35 P. M., ?11:30 P. M. From the Weit:
?6:50 A. M . a.':00 P. M.. b2:15 P. M.. S:0O P.
-M., ?9:00 P. M .
?Daily. aDally. ex. Sunday. bSur.da> only.
Pullman. Parlor and Sleeping Cars. Cafu
Dining Cars. C. H. BO.SEET.
W. B. BHVIM,, D. P. A.. Richmond. Va.
G. P. A.. Roarnke. Vft
outbern
Lv. Norfolk: 'S^:, and til A. M.. '0 P. M..
for Eastern Carolina and' the South.
i.V. Raleigh: ?6:16 A, M. t3 and ?3:15 P. sif..
for Eastern Carolina nnd Norfoik.
Pullman Sleeping Cars between Norfolk.
Raleigh and Ctoldflboro.
?Dally. Dally Ex. Sun.
C. D. EEC, RANDE, G. A.. American National
Dank. 'Phone Monroe 15C7. Richmond.
W. W. CltOXTON, <i. P. A., Norfolk, Va.
National Bank of Virginia
Capital, - $1,200,000
Surplus, - 5 600,000
Accounts solicited
Ninth and Main Streets
A li.mk account establishes your
' credit in the community.
Commonwealth Bank
SOUTHERN iiAILWAY
TRAINS LiAVli KiUti.MO.NO.
N. M?Following SCliedUte tinur\:t puD?l?r.t
i as Information and net guaranteed:
j t:lu A. il.-Unity? Local for Char:otto, Du-?
? ham and Rulaigh. 10:45 A. M.?Dally?Limit -
j til?For all palnvs South. Urauing Koom
j Ujltvt Sleeping C&r lo Memphis via Aane
i villa and Cliatianooka. 3:03 P. it.? Ex. .Sur. ?
i Local tor Ourn^ir, utid IrtlerineClulu stations.
: l:W I?. II.?Ex. ^un.? K?ysvi::<> i.ueai. 11:11
j V M.?Dally?Limited?Kur ail point* joutn.
j Pullman leadji 9:10 I*. u.
j YOfti; RIVER LINE.
} ?:i0 P. 11. ? Ex. Sun -To Wes; Pt., connec:
ine for Baltimore Moti., Wvd. and Frl. R-Oi
! a. .U?Ex. Sun. and 2:li P. M.?Mia., Wej.
j and Frl.?Local to vVest Point.
TRAINS ARRIVE IllL'uMONU.
From the South: 1:60 A M.. S:? P. it.,
datly; t>'.?0 A M. Ex. fc'jn.; 12:55 Ex. Sun.;
2:1)0 P. M., dally, t rom ?V?r*t Point: i;io a.
at.. Dai;>: 11 :il a. M.. Wed. a.nd Er'... i:2f
P. 11.. Ex. cun.
.s. E. BURGESS, D. P. A,.
?0 E. Main St "Pson* MaaUon 4?.
j Chesapeake & Ohio Railway
. ..-j .\ j L"?3iljr?* Ml ifJUaj iu Old Poiat,
?.vu i". "\.*>?rtyor: .?ev>fc tu'JI .N'artyJk.
. id a.?Daiiy. Local to NuNVport Newa.
J-.Ui P.?Dally. Local to Old Point,
j .:w p. t Dally?i.ouisv>ii? und Cincinnati
:::?j p. "* t'vlituana,
i <i P.?La.:>. --.s:. LouIj-C11 ?> Special."
Pullmans.
1 1.10 A. ? Dally?Cbariotteavi..?. Waek <ioya
1 ? rtiuion.
6:15 F. ?Wc?-fc d?jl. I.nra! io Liordoatvll'.a.
10:09 a.?Daily. L'burg. Let.. C. Forge.
' 6:15 P.?\? f^H days. To Lyrcnburg.
TRAINS ARRIVE I:ICR.MOND.
Local from East?S:35 A. M.. i" :.'0 P. M.
Throuph fron? Ea*:?il-.i; A. M.. P. it.
! Local Iroru Weil-'S:Sv A. U.. 3:i'J A. at.,
; '::o P. M.
. Throuxn? 7:M A. M . 2:45 p. U.
I James River Llnf???8:33 A, if.. 8:15 P. M.
Ricbmoad 2nd Petersburg Elecinc Railwai
Cars leavo Manchester, beveni' and Ferry
? "biitets. for Petersburg:
?6, 7, <t. *9. 10. II. ?12 A. M.. 1. 2, ?3. 4. 5r
"5 :45. *6. 7. 8. ?9. 10 P. M.
11:00 P. M. for Chester. 12:00 m. dnlsnt fn/
? Petersburg.
i Cars leave Petersburg, foot of Sycamore
j Street, for Manchester:
j 1?:15. ?i-.a?, ??7:15, '7:20, 8:35, 3:35. ?10:35, U:3f
? A. M? 12:35. ?1:23; 2:35. 3:35. ??1:35. C:35. 6:"
?7:31. S:2J. 9:35. '10:10. 11:40 P. M.
I Dally except .Sunday nnd holiday a.
?Carries bassrase and express.
??Llml'ed. except Sundays and holidays.
All cars from Petersburg curmeet with carr
for Richmond.
SEABOARD AIR LINE.
^.Southbound trains scheduled to leave Rich?
mond daily: 9:10 A. M.?Local to .Vorllnn.
1.20 P. Mi?Sleepers and coaches. Atlanta.
Birmingham, Savannah. Jacksonville and
Florida points. S:PJ P. M. ? Florida Lim?
ited, rla:ly, exrein Sunday. 11:35 P. M.?Sleep?
ers and coaches. Savannah. Jacksonville. At?
lanta. Birmingham and Memphis. North?
bound, trains scheduled to arrive Richmond
'dally: L-.TJ A. M.. 9:26 A. M.. except Monday.
|S:t5 P. M.. 5:t? P. V.
RICHMOND A.ND CHESAPEAKE BA?
RAILWAY COMPANY,
i Schedtilo of electric tralna to and from
? Ashinnd, stopping o! Intermediate stations
. upon Signal: Lv Jtiohmond (Broad fend
I Liurel Sts.l: fi:05h. ?7:10. 8:10b. 9:I0b. ??10:10,
? 11:10 A. M.; 1:10. 2:10. 3:10, <::0b, 6:10. 6:20.
! 7:1-J. 6:lflb. 10:10. Il:t5 P. M. Lv. Ashland:
?5:55. ?:0Cb. S. fib. 10. ??I1 A. M.. ?12 M., ??t
, ?. 3. 4. Lb. 6. 7. S. 9b. 11 P. M.
i ?Daily except Sunday. "Sunday only,
j bOarriec ir.Tirrago.
s&ttamboat?.
; OLD DOMINION LINE
Lv. Richmond foot of Ash S:. r!ally.7:00 P. M.
Leave NaWnon News.5:00 A. M.
Ar-lvo Norfolk .6:00 A. M.
I Connects with main line ateamera leaving
I Norfolk for New York dally except Sunday
! 7:00 P.* M. Crini ? i also made by N.
! \V. Ry. 3 P. M. nnd O. & O. Ry. et i P. M.
Nlnhl Lino steamers stop at ciaromoiu ta
land or receive pnssenirer* on signal.
I VllUil.SU NAVIGATION CO.-Jarnes P.lver
I by daylight for Norfolk. Old Point. New.
[ port News and all James River landings.
I Steamer leaves Monday, Wednesday and
1 Friday at 7:00 A. M. Freight received foi
c>l James River InndlngB.
f Mnln Ticket Offire. J?Ji E. Main Rtrect.