The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-05-14

RAILROADS UP AL so
Ky THOMAS C. sHoTwELL,

NEW YORK. May l3.--Some stocks
were stubbornly heavy today. AZ
though being liat3idated, but several
Lev high records were made in the
groups dominated By the banking
interests, that have been active of
late. There was no weak spot any
= seAaEa- and cheerful evidence OF
fresh aggpessil eness ga the part ri
bear traders. They have prepared
yarn. Tor circulation tomorrow. abou;
plans Of Daniel q. Reid, To sail FOR
Europe within a few days. because
Reid has been an successful leader
ship OF the market recently they
= fancy this storm viii chill the trad
ars. But II wont, for il isn't true.
Reid VIII not SAT- until aTfeT The IA
nional conventions, at the earliest
Some Of the best selling today was
on the nart OF "a very rich man. who
begins to fear that Roosevelt VIII he
nominated. He says that il noininat-
ed the people will believe for several
-faenths that las intends ia do some
Thing. and that belief may cause some
decline In the market, But as he
does not expect any performance to
follow the promises he proposes To
buy his stocks BACK IN the fall.
In the meantime he wonders what
he did do with his idle money and
thinks maybe he win have To pay
= more for his stocks But he prefers
10 pay more and feel safe.
Bankers Ignore Politics.
That is the attitude taken by sev-
eral very rich men who are retired
from active business, and do not wa mt
10 worry. The active bankers are ig
norfng politics on the theory that
things could not he worse. than thee
are. Selling by the cautious rich
therefore viii he matched by the
fresh buying of the hopeful agrees
sive ones.
or the high records today, Canadian
Pacific and Lehish Valley were made
carly in the day, and improved from
hour 10 hour. Just before the close
I-ehiGh sold off a point but the vol
uine Of sales wds snErli. On rhe curb
The coal sales stock advanced ten
points to q new record at 2sa, Other
high records We're made by Wabash
tours at II 10; sugar at 1873 IL;
bag and paper at 10 Is. cigar stores
ut EOS, British American Tobacco at
II i-24.-s nd .AaEle American Oil at
10 L.. American shares were strong
IA London. without signs of iquida-
fion
All the day long traders waited anx-
lousy for tho Supreme court to de-
eide the coal cases but nothing came
Report from Washington said that
the court would hand down its next
batch OF decisions on May 2Tth. in
stead Of Ola next Monday. as has been
expected. The hearings in the gov
eminent suit TO dissolve the steel trust
proceeded with u. q. Reid as chief
witness. but nothing was developed
that wae not already known. and law"
rers said the government did not help
ifs case much hv the DAYS work.
Lehi1h Valleys Rise.
fschigh Valleys rise wss said to be
based on an appraisal recently made OF
Its assets. The experts are said 10 have
reported that IL is selling far under
its intrinsic value.
An appraisal Of Reading Is talked
Of Some traders are guessing that
Reading plans 10 increase it's dividend
this summer, but no action OF the kind
ix likely untn next December. or
course. big increase Of the Read
ing dividend is only IL matter of time.
but The insiders want the election out
of the way first. II will be increased
about the time that the American Can
COMPANY announces fun dividends on
the preferred stock. with extras toward
the accumulation of "a per cent
Bag and paper rose because of good
earnings Resides. there is strong
nnol n il, and runlor. says 1t is to be
absorbed hv the international Paper
'+ptf4SF'%PFf anu w lfltS 4N1tltitdi
company. Tho pool ia a fact quick
silver preferred made a new high re-
cord. but no erpia nation Of The adj
vance was obtainable.
Canadian pacifiCs advance was on
heavier trading than s usually seen In
this issue. The low price Of the stock
N due To the failure Of Wall street to
appreciate the value Of the company's
twenty million acres of land. Besides
congress is working hard for Canadian
PaFliie. trying 10 bar out of the Panama
canal an steamships owned by Anert-
can railroads. leaving ii free for those
~ tie canadian lines. In addition 10
.hls II Is reported that $40 0nn Goa has
been lhSalhed "a New York - n@o b..
haFlfor improvements at Vancouver 10
handle The big business that viii come
Of the Panama canGN
IN tho street today: Number of
e%9
Far value Of bonds sold $2.7s4.oo0.
year ago 1895 zoe.