The times dispatch. [volume], February 04, 1912, Page 2, Image 18

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

Image provided by: Library of Virginia; Richmond, VA

                
SECURITY MARKET
WITHOUT FEATURE
Weekly Hank Statement Sur?
prising in Its Exhibit ot
Heavy Decrease.
DEATH OF EDWIN HAWLEY
Markov Not Influenced by Pass
ing of Great Railway
Rcconstrttctor.
(Special to Tin; Times-Dispatch.]
New fork, February 8.?-Outside of
movements in one or two stocks to?
day, tho security market waa dull unil
without feature. The market eloaed
in the main at ."1111111 declines, und the
dominant factor in lue trading was as
much a? anything 0 mouerutc further
decline 111 Lchlgh Valley stock. I'.
seemed to be tin ease from tho oper?
ations of many speculators' that a
Speeles of ''switching" process iviis mo
1ns on between Lehtgh Vnllej stock
and the Heading common h ha rob?tliut
Is. that these traders were soiling
their Lehtgh Valley stock; In which,
presumably, they had a good profit,
und buying Heading. From a strictly
speculative ami Vtechnleul" point o,f
\low, it Is admitted thai the market
position of l.ehlgh Vnllc;. stock was
somewhat weakened when there was
lately deducted from Its price the mar?
ket value of the new l.ohlgh Valley
Coal Sale.* stock issued to the Lehlgh
Valley Railroad Company stockhold,:
ers. At this time doubtless the short
interest In the. stock was small._ and
the shares were left to sell solely on
their value thai ot a 10 per cent,
dividend paying; security. Profit taking
In the btock, however, has naturnllj
occurred under the circumstances, and
tho ability of the Hehlgh Valley Itall
road Company to rontlnue its present
distribution has not been lessened In
the slightest degree by the formation
of the new coal sales company stock.
Reasons of an Investment nature may.
therefore, be expected soon to become
effective In supporting the price of the
Issue.
The weekly hank statement w.^
rather surprising in Its exhibit of a
doorcase of nearly JS,000,000 In the
actual surplus reserve, brought about
by an unexplained decrease In the
amount of '?ash held. A round Increase
In the cash Item wns looked lor nud
was shown In tho average form of
the statement. Uauk loans again In?
creased heavily In both statements',
owlr.K to tho operation the same
ciiisoj that havii brought about an
increase la loans throughout the pres?
ent month. Reports of railway earn?
ings us they wore submitted wore not
at all bad. The Deinwnre und Hud?
son's December sm.-s Increased f'.T.
c75. nnd Iis net $175.000. Tho ?-l!ioas;o.
Darlington and Qulncy's gross for Ihe
same mouth decreased tSOS.OOO; but a
1 eduction in operating expenses made
tho net decrease. Insignificant. The
Chicago, Milwaukee and St. Paul,
which is now the centre of observa?
tion, showed n decrease Iii gross of
JloS.OOO, but an Increase in net of
$45S'.000. The I'ugel Sound extension
reported a grces Increase for Decem?
ber of 11 tl.tioo.
The lnst week of the lire I month of
the new year was one of comparative
stock exchange exclternent and con?
firmation owing to the development of
more or less general weakness in lit'
s'ock market. which wa*, however^
cliloOy accentuated in two stocks, the
t'nion Pacific mid United S'-.iics Steel
common shares. The fall act ins to'
have been largely the wor.{ of speou-j
lutors for the decline, although there
l>: no doubt that it was accompanied by
1. good deal of disgusted selling by
other professional market operator.!
who have been hoping for more of :
rise in prices atHhe present time than
actually occurred. The provoking
causes of the market .veukness were.)
its appeared, the rpcdulat vi' liso made'
of the statement of th- chairman ofI
tiie board of directors of the Chicago;]
Milwaukee and St. Paul Ka'lwav that]
this company had reduced the dlyl-:
dend rate on the f-t. Paul common]
Mt.rV: because of the poor outlook for
business; pessimistic view that Mr
ilie time t.el^g prevailed regarding the
Putted Sta,tes,-.Sloer < 'or;.or it'^n"' quar.
terly and end of the year stiitements
end fears that Ilm lSryun element in!
the House of Rcpresentat ivi s would be]
successful in forcing a "'money trujjt*'i
Investigation.
All of ih<so matters when nnalysted
were found not to be so ?. rrifylng n.
they appeared ui first glnii.ee; and yet
their Influence wns exerted at a lime
when the market wns developing a'
snggiiitr tendency from p-,ir<j dullness'
and its own weight, liid they formed
very satisfactory "bOsir" arguments. I
fb nernl as recessions In prices were, it
was noticeable that the market as ,
whole followed in a rather he.situ tine,
vay the decline 111 steel and Union
Pacific stocks, while a .? d liable ?b?rde!
of firmness was found In the specific
strength displayed by Reading stock;
which at the close of the we^k rose to
the highest quotation tor r in
several months. .
It may be question. 1 top, whether
from a discerning point of view the
inosl Important ?'.cut (.;' the week w n't
not after nil tlu rather numerous. . . ?
donees brought to hear tliut while bus.
in
ueoreaacs In gross a:i<l net <? ;rulm;.-.
On the. other hand, the K?stern road
that is to say, specifically,
York Central. New Haven, Chesapeake
and Ohio, Pennsylvania, Reading, \| -
Untie Coast Lane and. indeed; all tlu
loads reports?exhibited ednsidorubii
increases in trest and not a ft u in?
creases in net.
The death of Edwin llawley v.a;.
mutter of little market influence, as
it was wen understood that .Mr. Hn?v.
ley as not a li.rge hoplei of stocks,
and that du:Ins the latter part ol .ji;;
Hie, at least, ho was. In considerable
dtgrto only the representative au.l
virtual employe, of other financial In?
ir rests.
With money here ,-,1 its current !b*.r
level and the supply o; idip funds
still increasing, om hankers M en. >?. -
cllnr.d to welcome the gold exports, ?(
the Week it* n source of nlir), al?
though it is doubtful If any inrKe fur?
ther cxpons are Imminent with ex?
change still standing at a level which
uocs not admit of these transactions
on an ord nary basis.
There was. no particular note during
the week one wuy or the otlii r In the
business world proper. At .least no
discouraging news came from to. 1
und steel sections. In tan Iron -li
trlota the .South piglroh wus reported
as ?howlng a dc'.idcdly firmer
der.ey. The boad und investment mar
k- f? gathered' slr.engto during ih?
Oiiiciai Kange and Sale ot Stocks in New York
Sales. Slock.
:A> Allls-Clmlnicrs .
Allis-Chalmcrs. i>t>\.
3,500 Amalgamated Goppel' ...
BOO Amur. Agrl. Clieih., com.
Amor. Hi el Sugar, com..
400 American Can .
"'?' Amol Iran < 'a fi. pfd.
ion Amoi. Chi and foundry.
Amer. Cur anil I'oau.. pfd
American Cot toil oil_
American Linseed *.?11....
100 Aiuorlcai] Locomotive ...
Am>r. Ijocotuotiv, pfd...
l"> Amor. -Malt Co.. pfd.
!."?? American Smelting .
SOU American Sugar .
tW Amer. Tel. a ml Tel. c.
10) American Tobacco. uotnJ
Amer. Tdb.. pfd.. new....
l?? Anaeundu Coppci .
(KM Atchlson .
li" Atlantic <'oast Lino ?
\. C. I* of Connecticut..
7,io0 Unltimorc ami ohm.
100 BrookI> ii Itapid Transit.
W Central Leather, rum.
l.tv'5 Canadian Pacific .
GOO Chesuptake anil Ohio....
Chicago Great Wertern.
?,iil0Ch|., Mil. and si. Paul...
Crucible Steel Cor., com.
Crucible steel, pfd.
Chicago and Northwest.
Colorado fuel ami Iron
Colorado ami Southern!
MM Consolidated < las .
Delaware and Hudson...
I 'en. and Rio Gran., eon,.
I o n ami Itlo Gran., pfd.
:'".> DlStlllei-S' See. Cor.
iKXi Url j .
100 Brie, 1st pfd.
I'ed. Mill, and Sin., pfd.,
Ceo. U. Helm,- Tob. CO...
i; in *ra I Klectrlc .
1.100 Great North?
Wu Great North?
Illinois Cent
600 lnterboro-M<
pfdi
By
Open.
THOMAS BRANCH & CO.. Cankers and Brokers.
High. Low. Did. Asked- Sales. Slack.
Closing.
Open. High. Low Bid. Asked.
IIS??
I39Hi
2TSU,
II sa,
lajiyj
I'M',
P'I'h
!>1
E0T1
?.:7 m..
10$
I'll
47M
ii-' .
I0t';i
3IVs
International Paper .
7 Int. Paper, pfd.
Cd Kan, Cltv South., com.
?1 :fv500 Lehlgli Valley . 168%
0514 101 Liggett ?V: .Myers t.'o. e'm 17514
11*" 200 Liggett & Myers Co. pfd Uv?i
VI Lorlllard Tob. Co, com. ...
103 Lorlllard Tdb. Co.. pfd.. Hie,
IIb ? 200 Louisville and Nashville l&OVii
|y Manhattan .
11 Mo., Kan. and Texas.
331 Mo., Kan. and Tex., pfd. .a
P4>" Missouri Pacific .
|s * National Lead . i\l'<.
,.?< ;i roo Now Vork Central. llVfr
UN', 210 N. V.. Oft. and Western WA
;oo Norfolk und Western.;. 107%
27? 7.123 Northern Pacific . 11010
jOlf, Paollle Mail . 33
::r, i'enhsylVunia . l^'1?
nip, m I* wjilo's Gus . i>'i' -
i:-.a, Pittsburgh t'oai. com.
20.*. Pressed steel Car.
1".'; ICO Pi 'sscd Steel Car. pfd.. I'oi.j
T.n Ry. Steel Spring, com.
IHK
.Ml. Iron and
ICA's.
1TS1?
110?,
Int. M<
lMl
Id pel.lie I. and S.. pfd.. 7'J1'.
Rock Island . 23.S
Rock Island, pfd. I9?i
Sidss-Shcfflvld .
Southern Paellle . ICT',
Southern Railway . 20T4
Southern Railway, pfd. osi
Standard oil .
'i' 'hiicssec Copper .
Texas Pueilic .
UlllOli Pacific . It?li
IJliltcd States Itubber... I'<
United States Steel. 00ft
United St'te.s Steel, pfd 110%
Va.-Car. Chemlcul .
Vn.iCnr. ("hemlcal, pfd.
\'a. ity; and Power, com ...
Vi?. Ity. and Power, pfd. ...
Williash .
Wabash. pi'd. 17",
Western Union . n^'m
WcyinanBititon Tob. Co ...
Total " lies for day, 18"
oial vales for week tsix days)
It,'.' r
UStt
llfr'i
i?'V.
IM)?/.
160%
iM'i
3!)!s
Hi'-..
I07"fc
new
21
(61'4
I-'1,
WM
ii"'.
,500 she
3,0*0,!?
week each day. On tlio Stock lCx
changc bond aale? were $lO!i,CuO,006,
the largest dealings seen n the cor?
responding month sinco I JO?, nnd with
thai single excoption since 1905. Jt Is
said in banking circles that any w W
large bond issue thn'j might now be
brought out offering satisfactory sc-,
citrlty ami netting to the investor a j
14-2 pel cent, return would be heavily I
overall bsci ihed.
t'oHNln oi' Wall Street.
The proposition to investigate thc:i
se-called mone> trust was the prin
eipal topic of dlHCUfstou in Wall
Street at the (lid as at the beginning
of the week. It whs everywhere
recognized that such an Investigation
as is proposed In the Henry resolu- !
lion, that Is an Investigation appar- !
entl.v designed t? cast as much ills-,]
credit a- possible upon the mosti
prominent bunkers and limincial In?
stitutions, would produce a great deal j
? >f irritation and might disturb I lie!
delicate machinery of credit. While j
the bear party gloats over Hie pros-i
pects of such an Investiga tion, othe>* j
speculators and all investor.-! fear the I
market effect of It. and though the
chances oi the adoption of Ho- resolu-j
tion seemed Stnall at the Close of the i
week, to-day as on other days of the
week It served to dampen bullish en- 1
tilUSlnsi?. The fate (if the resolution 1
will be decided at tin Democratic
caucus Wednesday evening. 1
Until that time, in the opinion of'
n....:t brokers, then intij be expected |
no upward movement except such h.1
rally a- might be brought about by
short Covering.
It was Increasingly evident Id-duy
that Kdwih llawley's affairs had been
well ordered before h's death. The
st. rks of his railroads have since hel-I
as wi;l\ us the others. There is now
ho doubt Whatever that lie wns out
lIn market loner before his doath, I
iisi Indeed lilt associates believed at
the tlhif'. Two year." ago. when all j
the tlawley stocks wen active und j
there wore lone accounts in them inl
all tlio commission houses, the um"- 1
kct would certainly hove broken bad-!
ly hid Mr. Hawlt-y died suddenly, frit I !
for many Weeks there hud been no
uetivlty in any of the lluwtcy stocks,
and most <.f thehi were down to very i
low prices.
Il v.a- said by an officer of one of
the llawloy roads on tho day of his
death, that the plans formulated lor
those roads would be tarried out. The
statement is borne out by to-day's
news that Minneapolis and St. I.oofs
Will soon lilt- a mortgage ot $2,000.000
upon its terminal properties in Minne?
apolis. The securities based on the
mortgage will probably be twenty-year
i 1-2 pel emit. lirsl mortgage bo nils.
" Ih hot proposed to dispose of more
then J2."O,D00 or SSOOjOOO of thorn in
the neat future, that amount being!
sulllcili-ut -.. eoiiipleie tliu work planned
'I ? reniaindei will be disposed of as
funds are roiiuirod to secure additional
property for yards and rluiits of way.'
Teehnballv the bonds will be Issued
by the Minneapolis Railway Transfer^
!!? .Marshall l'u-ld .s \\ cOkly Review
it it said that ioa/1 sales Were belter
than In any previous week tor the!
ye.-,,-. "Merchant-l 'We on*
Joying modern U, but profitable busi?
ness because of tlie excellent condition
\0l their ?toelt:i Retailers from the
I fur U-est are Iniyiiig larger stock than
I last N ear for tlie rei son thai many
.several months to take ehre of nil the
jl^usiii^sk tlie.v might have bad."
I Itank cleaving for the week wcie be?
ll low toe figures for tin corresponding
week last year, but the difference was
ve/y ?rnall. The total was- ?.i,5 "O.OOO,
I e'.uj i:ompar--d with ?;i,r?77,Oi'O,000.
The ratio of decrease was .<C per
he- nominating
k exchange to
Bonjamin was.
mi the vacancy
gnatlon of i.
pre -. ii, market letters:
"llultish interests nave the benefit
of an abundance oi money at low ratcri
and such pro; pect:- for favorable de?
velopment-- affecting Ir.d vldual prop?
erties as to (-under Indiscriminate
short iiales ha/ani.-u. to ?? degree.".
?We lind sentiment bearish through?
out the street and favoi purchases on
the declines."
"in general, with '-ho exception of
I specialtUis, we think the market will
i sell lower and would only buy oh
I sharp reactions for . turn "
I "We look roi irregular llur.tuatlohs
I wllh 's?mc low? !? prices before long In
'?the active Stocks."
"i'rlcCH have how hfct-n uriribjishcii on
at least n fairly low binds, and it Is
i'? DHonablC to expect that the next sub?
stantial movement will lie to htghei
llguresl"
"We tfilnk Wc hsvt seen the io\y
prices loi- u llinc. and look for a
traders' market temporarily."
Trader.- and brokers whose minds
were nol obsessed by tho Henry reso?
lution talked ..bout St. Paul earnings.
The bulls wer.- flattered by the De?
cember statement and saw only that
nut earnings Increased $I5S,000. and
that the gross earnings of Milwaukee,
St. fain and fuget Sound Increased
$1 l?.OOO. Speculators of opposite opin?
ion noted that the net earnings of the
subsidiary decreased by tnS.OOO, and
thai the gross earning* <-f the domin?
ant company decreased by }109;000.
There must ha v.' been drastic retrench?
ment, amounting almost toe skinning
the road, they argued, to . i nvorl a de
cl'ciisc of more than f 100.000 In gross
to an Increase of nearly $500,000 in
net.
There Is | ? si
other railroad
for instance, I
?.?lease of $r.oo.<
.??ml a decrease
The question v.
saving in ex pen
ailvantago of
who are purs ill
also hnd be for
tailed slateinen
for December,
statement that
in operating,
principally by
in expenses for
inept
inllar cbhirjycrsy over
statements. Hurling ton.
o-day reported a <lc
?00 In I'i ember gross,
of only -5'.'I..> In net.
as whoth i or nbl the
sos militated to the dis?
til.' road. Statisticians
ng this Hue of Inquiry
" them to-day the de
t of Neu Vork Central
It way noted in this
the decrease >>f S 110,000
.vpelH.es W.IS prodtlCCd
a redurticn of $332,000
maintenance of equip
New York, l-'obruury 3.?Money -m
call nominal. Time loans steady, six?
ty days, u !--'?('_' 3-4 per cent., and
nlnct> days. 2 3-lfl"; six months, 3?
.t 1-1. Prime mercantile pr.per, 3 1-.'
to I per cent. Sterling exchange steady,
with actual business in bankers' bills
at M.Sir.n for sixty-day bills, and nt
$4.S71G for demand. Commercial bills.
I:: 3-1. Mar silver. ."$ 1-- Mexican
dollars, 17.
ltlt'lt.MONI) STOCK MARKT.!'.
I?:, rtlcbnr.i W Msuiy
Steck and Bond Broker, :l" K. Main Slree*
Richmond; v.v. February ?. i*li.
STATE SKCL ."UTirS 3ld. Allied.
Virginia Jf. Old. C and ft., IMt.... Sil? ..
Va. CeiiP.irlr!-. 2-3. C. aid ft IW1;. IS SJ''
RAILROAD ItOND.-'
A. jC. U r. r. Con. Tr, t p. c.... 95
' <? O. Oen'l XI.. 4'i* 1?!. 10'
(leorjla, sou and Flaa I'M. 107
Ptorgla and Ala. Con. r.n. 191".. 107
S">r and Weal. Ry. Is. YfA. ?I
Dcaboard Air Line <i, I'M. M
Soiitliern Railway 1st Js. lf?M. 103
?o. i(. D?v. .nd ?. Mi ta. 1SW.... 73
Wettern N. C. ltt 6s. C.. Kill.143
sTrkkt railway nu.vr.-.-'.
V.i. Ry. and I'otver Co. is. 1*3.1.. fi
BTRKET ISV. STOCKS Par.
V.l. Ry and Power Co. pi'd....ljO .17
Va. Ry. and Power Co. com,...100 47
RAILROAD STOCKS. par.
Atlantic Const t.Ine com.;(?> 13;.
ClH'tapeake nnd Ohio.170 t'j\$ ...
< Norfolk a:.d Western com.ItM 1 ?? " ...
.Southern Railway pfd.10.) ti
[Southern Railway mm.too
| HANK AN"f> TRUST CO. STOCKS.
| American National.left ... 307
1 Rank of Coiiuni
i l'ir-i National,
Mm-hants Nat
National iimik
; National s'i? t<
Planters Natlo
Kavlngi Hunk of Richmond."Z 7j
Union tiank of Richmond.SO 315
Virginia TrVist Co.!W ISO
Ti Jsl
Virginia ...:??> ski
liy Rank., 104 ??0
Wcsl und. S3 4!'.;
Richmond Hank und Trutt Co. V
i::. tltlANCt' COMPANIES,
v.i Flrc and Murin- Ins. "?
i. b>ta.l? Intur?uc? ptd.ui.i-0 u
Va. Stille Insurance mm.13 00 II)
va.-Cnr. ctiem. pfd. 5 p c.HW 113
Quotations for Interest-paying bum
BOND LIST
Allis-Cnutmers 6?.>4
Atlantic Coast Lilie 1st if. Wi
A. C. L.-l?. and X. col. tr 4t (btd). Pili
A C. Ii. conv. 4s (In Baltimore!. KH"i
Chcsiipcnk? und Ohio Cohv. i'C-s. Mi?
Liggett A; Uycrs *s. ?IT?
I.ISK?-'lt * .Uycrs 7?. IKttj
Lorlllard Company S. 9J"i
Lorlllard Coiupiiiiy Tr. 133 ?:
Norfolk und Wostern conv, 4s fbldi. HT"?
Seaboard Air Line stamped 4* (bid).... ???!!:1
Seaboard Air Mnc adl. Sa. >0>-ji
Southern Railway 4k. 75*11
southern Kall way .">s. l?S'.i |
United Stlltci Steel is. l?">i
Vit'glnlu-Ilrown llros, ,t:? (bid).
yirglnln-Cur. Client. Co. ss . KO'.i
Vn l:v. and Power Co. . 9?
Wabuah 4s. JA
Wubash-Pltta. Term. l.t Is ct.'.?. 40
Panama ixii tbidj. iw?a
COTTON IIA UK!. IS
Neir York. February A-The cotton mar.
ket wo. nervous and Irregular lo-day with
realizing heavy for over the week-end, hut'
tlir closing Uine was Una. and last prices |
showed a net gain of from 5 i\ 0 points. Thai'
opening ??' steady at an advance of etf?l
?oinis in response to higher Liverpool cable* I
lluiii expected and a continued j.-nod spot :
business hi the English market. There were {
heavy Overnight buylnK orders liround tho
ring, attracted, doubtless, by Uiu strength |
..? yesterday's market, but taese were read?
ily executed at the opening advance, aa a
:.?ult of active realizing, while during i!;.
middle or teh morning prlcea sold off tn ?
?let decline of 3'f4 point? on the active
monthi undci continued protlt-tokliig and I
local selling for n turn. Private cable*.front I
Liverpool, claiming tlint the advance
prlcea was checking the demand for cotton |
yarn's and a few advices from the s'n.
indicating that Interior spot offerings w
becoming h- i.TVler as u result of the higher |
values, probably encouraged local selling,
but In the late trading there was aggressiv?)
support n* well a> more urgent demand
'rom old f-horts. and last prices were an
j ;i 7 points up from the lowest. Advt
indicated the -possibility of renewed Inhot
?roubles in Lancashire; owing to a deman
fioiu operatives for Increased -vage?, and I
the lab-ir disputes at Lawrence appear to|
be dragging out rather Inyond exjectationa
but n continued Improvement was report"1.
In the demand for c-?tton good a In the do
mestlc market. ,nd ?a".e- of print elotha at|
Pall Rlvei tor the week were estimated
-60.000. pieces, comparing with only 75.
pieces for the >nm? week la It year. The |
week-end figure* weie considered about
aland-Off, for while spinners' taking were]
heavy there ivaa a slight increase in th?
world's visible of American for the weck |
comparing with a decrease last year.
Increasing receipt! of Indian cotton are]
reported ?t Bombay, and totnl receipt! for j
tl.e scuson there are only 15.0"o balei behind
;??. year, notwithstanding the estimated
shortage of the crop.
Receipts at all ports, to-day H,f!3 bale*
ngitin?t 4? !4", :>!" r.-eek and !5.tI4 lnsl year.
To-day's receipt? at N'ew Orleans 10,194 bales
against 7.'.TO last year; at Houston, 13,34."
bales agahiei f..''.'1 last year, and nt Oelvos
ton. io.r.61 bales against 3,917 last year.
Cotton future, eloaed firm:
Open tllsb. Low. Close.
January .W.27 . 10.55
February . ".in
March.-. >.M 3K0 M* MS
April . OKI ??*> :, M ?-K
May . *.? ??? *?????
June .KVOI 10.01 !>.?? 9.9S
July.-,o.o4 10.03 10.00 io..r;
Auiust .10.12 10.1" 10.0.'i 10.09
We Believe in the Doctrine
That where a man has a financial interest in an In?
stitution he should back it with his influence, and,
as far as possible, with his patronage. Which leads
us to say:
We are proud of our 330 stockholders, who, by
the way, are worth over FIFTY MILLION dollars.
They are throwing business our way, and if the
reader of this advertisement saw our last published
statement he will understand why this Company
has grown so hist.
Co-operation is the secret of success in any busi?
ness, and that is why we want every single one of
our shareholders to turn some business this way.
To those valued stockholders who have not yet
opened un account we present our compliments in
three words?
Patronize Your Institution!
.*> per cent, allowed on personal and inactive ac?
counts, subject to check.
RICHMOND, \A.
I Capital, One Million
CS.
in
and the South
NOTE IT WELL
THE
Write for our bookie, "Banking by MaiLw
3 <fo ?Interest, Compounded Twice a Year?3%
Capital._- -.-.$ 219,750.00
Surplus.-. 600,000.00
Assets, over.~ -..-.~ ~.- 2,000,000.00
J. B. BEASLEY, President.
B. Alsop,
J. B. Beasley,
DIRECTORS.
R. T. Arrington,
Samuel W. Tornpkins,
GEO. W. CALL, Cashier.
(Shas. Davenport,
T. W. Pemberton.
September .JO.m 10!? lo.o? 10 \?
Octol.fr .10?? 19.lt 10.11 11. 16
November .t?'.2S m.?3 imu
December .50.26 10.M 10.19 lo:?
Spot cotton closed qulet: middling up?'i
lands. 10.00; mlddCIng gu'.f. lO.K-. ^
Cotton, steady; middling. 10.09; giosi ?e-i
cclpte, I.Tai bales; sales, too stock. '
186.726 balea: export lo Conti. 1,92 bales.
Tonil to-d?y nt n'.l ports?Kot receipt?. '
S1.02S bales; export to Great Britain, I6.6M
bales: to the continent, 39.W ba:-,; stock, i
1.3.97,972 bates
Consolidated at nil porn?Net receipt'. I
?"?i."> b?ie#; export to ?rant Britain, U.t I
t<. tl.e r-onttnent. bales.
Total since September 1 ;,t nil ports-Net1
receipts; K,$7?.?49 bales; export to fircat
Britain, 2,730.731 bales: to Fronde. f-W.3l7|
bales: to the Continent, !,$6S,4H bales; to |
.l?pn?. 2JJ.370 bales; to Mexico, 1.877 bales.
New OHc-atif, Kehruary *.?Cotton futures
ot>.n<d steady, i point off to .1 point! up.
Tlio market ? :of<l steady nt a not advance
of points. Cable* on spota and (uttiraa
wore extremely favorable, but offerings from
bulls and bean alike- vrr<. heavy. Septem-,
bor Sellin b??? stimulated by n good vrcatli
or map an.l the bollet that a reaction wa'sl
due. When the decline had reached 4 Til
P'.Inta beais found It difficult to force pilrr,'
lower. Senlplnc "horln covered fr. ely. and |
trie market gradually worked upward. Spot I
cotton llrm and unchanged! middling, 10.99.1
Bales on the spot 630 bn'.oe and S>> to ar-1
rive. February. 10. it; March. 19.13! May.
10.51; July, pi c*: August, 10.83; September, I
10.C5; October. 10.5t: December, 10,:J.
nf.w voiik rttOIIDCK M.MtKr.T.
New- York. February r.?Flour?Firmly held
with demand clow. Spring patenti1. $S.S5fi
5.M; whiter straight*, $4.SOfH.40; winter,pat?
en to, 11.8491.SO; spring clotri, $4.2804.4;.
Ryi Flour?Steady at Jt.Tf, 3 6 78. Buek wheat |
Flour?Steady, Corhtnaal?Firm. Barley
Firm Rye?Steady, Wheat?Spot firm; No.
te?? 81.04 elcAtor, export basts, und 11
'. 6, h, afloat; No. 1 northern, Du'.uth. %:.31 j
f. o li, afloat. Option. ISc. lower to '4c t
higher. May. tl.f.SH: July. J1.03H. t orn-I
:-'pot firm; Standard white. c4'4c. In elevator;]
No. 2. 60'ic. Futures nominal.
Fork and Beef?Steady. Cut Meats?Quiet,
Lard?Barely steady Tallow?Quiet, etro
leum?Steady. Wool?Firm. Rorln ??.irt Tur
penttne?Steady. Rice?Firm. Molasses?
Steady. Sugar? Raw, steady; r? fined, quiet.
Coffee?Futures barely steady ot r.rt decline
.if ?". rr ir, points Spot, steady; Itto. No. 7,
H'Je.; Santos, No. 4. IC'v.. mild, (pilnt; No.
t: Cordova. 18'/i 917!/je. nominal. rotator?
and Cabbagea?Steady and unchanged, Pea?
nut* and Freights?Unchanged. Butter?Un
Bettled. Cheese?Firm and unchanged, Eggs |
--Steady.
Cottonseed oll was ?i ?harto higher on the |
"tronir crude situation, covering of short
nnd 'oral bull support. 'Switching opera-1
tlons ronftn?d a lurge par; of the business.
Closing ;>rlcea were generally IliZ polital
net higher. February, f..46tf 5.f,3: March, ( ?
fr5.8S; April. S.S49S.86; May. |8.fi20E.?3; June
S.C49S.6S; prime crude, 4.8094.54; prime mini-1
iner yellow. 8.44Q5.60; prime winter yellow, |
.". '"? .7 8.99; prime summer ? hlte, G.OOfT&.fO.
t lift \r,o chain srAitKBT.
Chicago. III., Februnry 3.?Pols" rath
than action .ll.irlnirulsh.--ft lo-day is- market |
for wheat. Nevertheless the prlee level was
raised Just enough to surpass nny previous
fiuures touched during the present bulge.
Latest trading left quotations steady,
same ?? last night to Me. up. Corn finished |
HiJf'Jf, ndvnnce: oats unchanged to
higher, and hog products varying from y
ter.lay's close to an additional cost of lor.
Tin leading futures ranged, as follows:
Open. High. f.ow. Close. I
WHEAT?
May . l.oi im?; i.as-; l.oi'il
July . OT?i 07', 97V
Bepl. O'.'i f.Vj 5\>:s tsij
COItN
May . ??'; K!"', f.iv(
July . ?S\S M CJIi
SOpI. f's,i G5!? 6S'
OATS ?
May . m'i R2TU 82?', 53^
July . 4*3. 4S?, 4S'.i 4S-1;
Sept. 47!i S3-H 4*.?,t 42?!
MBSq I'OltK?Pcr bid.
Slay .W.S3 :?.27 1?..r,
July .10.62 IS", !?.4f. 16.6.1
SHORT RIBS?Per 100 lbs
May . 9M 9.40 S.H'i 9.40
July .?.b: J.r.5 9.?o 9.6i
Sept.9.?J ?07 9.65 9.67
LA nn-Ver 500 lbs.
May . S.S" J.S0 $.7;. S.W
July . S.?3 S.^ !>.?0 8.82
Sept.S.97 $.91 $.92 *.9".
Cash grain closed: Wheat?No. 2 red. 51.01141
SfllOiU; No. 3 red, SlffLGHi; No- 2 haid.
Il.oz ff l.?S'f.; No- * hard. 99^S1.94; No. Ij
northern. $1.12^,1.14; No. 2 northern. $1.10^ 1
1.12: No. 3 northern. $ 1.0c.T< 1.10: No. 2 tprlng.
$1.0201.13; No. 3 fcprlnK, ;e*}f$i.(iS; No.
.-priiiB, 90? $1.02; velvet chaff. f-JW #1.0*1: du-|
rum. 90WI1.0S. Corn?No. .1, f>".''i ftj'jr.; No.
white. ;,*iri&,c: No. :t yello?-. f.r.'^. -i) 61?, C
No. 4. S*;ifl64o.; No. 4 white, Mlg0<ie.i No.'
4 yellow, C.P3 <i61*,c. Oats?No. 2. 82c.: No. 2
w hite. 83<}82VbC,: No. 61 t.ia;c.: No. 3
white. r.3-'i-r.:tc: No. 4 white, <S?i?lc: stand?
ard. 6S4i<?te3c. Rye?No. 2, ODfiSlc. Barley,
7?iffi$l.e0. Clover. ?16U>22.50. Timothy, $12^f
if..oe.
Baltimore, Md.. February 3.?Wheat?Dull;
epol. ennti\ic4>. Sl/MH. Corn?Kaslcr; spot,
contract, Vie. Oats?Firm; No. 2 white, Wjijf
;.0r Rye?Firm; No. 2 western, domestic,
mi 101._
richmond GRAIN MARKBT.
1 Richmond. Vn.. February :?i2.
WIIOI.KSAbB QUOTATIONS ON 'CHANOIi.
WHEAT? Car lots.
No. 2 red. Western .$ 1.06 V
No. 3 red, Virginia . ft 1.04
No. 3 red. & \M
Virginia, bag lotn (for aced).. M 'tt 1.01
COHN?Car lots.
No. 2 whit* . 1* ?*
No. $ white. 74',i'(*
No. 2 mixed . M
No. 3 mixed . 721i?
Virginia, bag lots . 72 ',v <u
iCorn on cob .v.... 69 W
OATS?Cur lots.
" No. 2 mixed . ' If ?*
No. 3 mlxod . f,f
No. S whlt.i .?.. '<f '-'-i
No. 3 white . K V
Winter s.-ed. bag lota . 6? 'a H
Rlt'B?Car lota.
1 Now is the Time to Save |
?2 One of the oldest and most successful mcr- ^5
chants of Richmond said yesterday that we were *?
doing a great educational work in impressing upon Wy
& young men and women the absolute necessity for fl^
QS) saving money in early life if independence was to Qt\
rtk be hoped for in old age. q?
n& lie spoke about himself in a modest way, saying
^ he had early in life learned to be frugal.
We thank the gentleman for his kind words
? about the COMMONWEALTH BANK. tfj
& We have four banking offices located at con- &
3?) venicht places throughout the city. 3?)
TS?, Our officers anil directors are men of the high
5^ est business and personal character and standing, ?C?
^ and we grant our depositors every privilege con- *2
^ sistent with safe banking. xr?
?v Which explains why our deposits have increased xO
& nearly ONE THOUSAND PER CENT. IN FIVE ?
g YEARS. ft
3 Per Cent. Compound Interest on savings ac- G*)
rt?, counts. May we have yours? 3*S
2 Commonwealth Bank s
?k 12 North Ninth Street.
S Capital, Surplus and Profits, $350,000
^ WILLIAM L. WALTERS, President. (fe
5? P. P. McCONNELL, Vice-President.
?6 S. E. WALTERS, Vice-President.
H. G. PROCTOR, Cashier. S
52 BRANCHES: S
^ 102 East Broad Street, S
?W Twenty-fifth and Broad Streets, ^
^ .-1914 Williamsburg Avenue. t2
Oats?Firm, but quiet
RICHMOND HAY MAHKF.'f.
Rl.-hmond. Vs., February 3. 1M2.
The quotalTOns ard as follows:
No. 1 Timothy. <3 36.60
No. 2 Timothy. 24.01 3
No. 3 Timothy. ? 00 g
Liebt clover, mlxc?. 24? ft
No. 1 clover, mixed. <ii UM
No. l clover. IT S3.C0
No. 2 clover. 20.00 Q
No. 2 clover, mixed. 21.50 ?7
STRAW?Compressed . it 13.00
Loose ptvssed, largo bales.. -j 13.10
SHUCKS?Baled . l?oo rr
Loose pressod. large ba'ea.. 16.O0 It
CATTLE MARKETS.
Chicago, III.. February 3.?Cattle?Receipts
3.000 head. Market steady. Reeves, S4.S0-/
S.?0; Texas steers. ti.01tT5.St>; Woltern steers,
$4.S0Q'?.1S; alorkcrs and feeders, $S.sa?C.00;
cows and heifers, 12.2064.76; calves. Hogs
? Receipts 1.300 bead. Market weak. Light;
t5.8506.2O; mixed. f6.96sJA.33i heavy, ttt}G.26;
rough. S"i?jC.K>: pigs. H.IS"ri 5.60: bulk of mles.
.$?'..!&?ST6.:?. Sheep?Receipts 2,000 head. .Mar?
ket steady. Native. $3.1504.65; western, I3.?0
(j 4.70; yearlings, 64.70? 5?; lambs, native,
J4.40^6.70; western, t4.60tft.75.
New York. February S.?Beeves?Receipts
1.71? head. Markot dull. Calves?Rocclpt a
4.',? head; no trading; market steady. Sheep
and Lambs?Receipts 5,117 bead. Market
weak and shade lower. Sheep. }3fi 4.2".;
lambs. t5R7.20. Hogs?Receipts 1.374 head.
Market nominally firm.
RICHMOND TOBACCO MAItKKT.
Richmond. Va.. February 3, JM2.
Following are the quotations on the Rich?
mond Tobacco Bachange:
aROWN SHIPPING?NEW.
Lugs .1 P ?1 ?$ 7 iO
Short leaf. 7.50 ej ? fto
I.ons leaf. 8.60 C? 10.0.}
Wrappers . 12.00 <3 12 00
?RIGHTS.
SMOKERS?Common . 7.00 ? !.60
Medium . ?.60 CJ. 11 00
Fine . 1200 ff l.l.co
CUTTERS?Common . 12.00 Q 13.60
Medium . 14 00 q. 16.60
Ftno . 17.00 IS.?O
Fine . H.OO ? 16.00
WRAPPERS?Common . 8.00 frf. 10.M
Medium .18.00 & 20.00
C?ood .w.oo y, 30.00
Fine . 32.50 ? 37.50
F'oney . 10.00 4f 45.01
SUN-CURED?NEW.
Lugs, common to good. (1.50 fit 7.09
lugs, good to prime. 7.50 Q, ft fa
Short lenf. ?00 <S 10.NU
Long leaf..' 10.00 at MM
Wrappers . 12.50 (<) 17.50
I'riinlng-s . 1.50 <j 6,25
MISCELLANEOUS MARKET'S.
PEANUT MARKET.
'Reported by Rortgers. McCabc &. Co.l
Petersburg. Va., February 3.?Peanuts.?
Spanish.?Markot steady; small Spanish. f<0c.
per bushol; .iiimbo Spanish, s-'.o. ?er bushel.
Virginian.?Firm ; fancy Jumbo, 4 Cf ?"?.'. per
pound: fancy bandplcked, 3$;e. per pound;
extra prime, 3*ic. per pound; prime, Uli?.
per pound: machine picked, Htjl'ic. per
pound: shelling stock, 2Vi1r3c. per pound.
ORT OOOD.s MARKET;
New York, February 3.?The eoliun gooils
markets aro growing Ilrmcr. Fruit 0t th?
loom 7?-b>ae!;.d shadings have been ad?
vanced >?c. a yard, and 4-4 gooda have bten
placed at value. Discount! are being short?
ened on many other line* of cotton goods.
Kali go'ids are in better call. Llnem rule
!lrm. Burlay? are higher.
NAVAL STORES.
Wilmington, N. C, February 3? Spirits
Turpentine?Steady nt 4?V4c.; receipts 38
cash... Rosin ?Steady at 55.SO; receipts S3
barrels Tar?Firm (it SI.HO, receipts 70 ba;
reis. Crude Turpentine?Firm at ll.G0O4.S9:
receipts 11 barrels.
Savannah, (3a., February 3.?Turpentine?
Firm 0t 4T?;c.; sales 4/7 casks; receipts :.1
casks; shipments is; casks; sto'.k 2S.3r<2 task.-.
Rosin?Firm; stiles 1,683 barrels; receipts
1,660 barrels; shipment-" 331 barrc".?: atei :
i0:>,281 bartol?. Quote: B and D. $?.50 ft 6,-sO.
MARIN E I NTELLIGENCE.
PORT OF RICHMOND, FEBRUARY 3. 1912.
ARRIVED.
Steamer Berkeley, Shelly, Norfolk, mer?
chandise and passengers. Old Dominion
Line.
Steamer Mobjack. Graves. Norfolk and
James lUvor landings, merchandise nnd pas?
sengers, Virginia Navigation Company.
Steamer Aurora. Furman. Petersburg and
James River landing*, merchandise and pas?
sengers, Furman l.lno.
SAILED.
Steamer Berkoley. Shelly, Norfolk, mer?
chandise and passengers. Old Dominion
Line.
Steamer Aurora, Furman, Petertburg and
James River landings, nicrchandleo and pas?
sengers. Furman Line.
Weekly Bank Statement.
Neyr Vork. February 3?The statement of
clearing-bouse bunks for the week shows
that the banks hold f4fi.015.W-0 reserve In ex?
cess of legal requirements. This Is an in?
crease of $317,050 In the proportionate cash
reserve as compared with last weeTi.
The statement iollows: Actual condition?
Lnnns. 12,067,733.000; Increase, IN, 145,000.
Specie, |S6?,?94,660; Increase, $.136.000.
Legal tenders. $37,136.000; decrease. $3.01?.'-TO
Net deposits, $1,906,423.000; incrc.OEO, $17,550, -
oou.
Circulation. $50,719,000; decrease, $177.000.
Bunks cash reserve In vault, $4l4.C70,OOil
Trust companies cash reserve in banks.
$62.160,000.
Aggregate cash reserve, $476.830.000.
Excess lawful rcacrvi, $SO,775,K50; decrease,
$7.!W7.200.
Trust companies reserve with clearing?
house members carrying 25 per cent, cash
reserve, $70.273,000.
Summary of Stnte banks and trust compa?
nies In Greater New Tnrk not reporting la
the New Vork Clearing-House:
Loans', $5S$.51S,1O0; decrease. $3.753.10?.
Specie, 162,787,500; decrease. $ 1.237,000.
Legal tonderr. $10,9!5,000; decrease. $13.70'.
Totm- deposits, $701,211,200; Increase. $2,570,.
200.
Stlanttc dtp Bc?fnrtK
^ALEiN HALL
Uolel and Sanatorium,
With Its elegant comforts, ts tonl,:
arid curative baths nnd superior table
and service. Is an Ideal plaie for fall
und winter. Always open. Alwuv*
ready. Always busy.
F. I*. Young,
General llacagar,
Atlantic CltV.