The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-12-12
UNION PACIFIC
TAKES A TUMBLE
PAMPHLET REPORT CAUSES THE
STOCK TO co WITHIN ONE
n EIGHTH or july. is11
/ READING DROPS TOO
REAL LIQUIDATION IN PROGRESS
BUT THERE SEEMS ALSO TO
BE A RAID OF IMPORT
READING DROPS TOO
Nv THOMAS c. sHoTwELL

NEW YORK, Dec. il.--When the
pamphlet report of the Union Pacific
was made public today. showing that
fhe net earnings available for dtvi-
bends in the year ended June 3oth
~ere hut 1881 per cent as compared
with 1876 per cent the previous year.
heavy liquidation OF the stock made
it's appearance. The price broke TO
tsS SIS. AS compared with l6z LIZ
earlier In the day. This low price
Ia only is above the low level touch
ed in the smash of July 1911, when
il was discovered that the crops were
failure
Reading following Union Pacific to-
tiay, but the rest of the market under
leadership of Steel held fairly steady.
The close was heavy near low prices.
The volume OF trading reached l.
35e. GOO shares. with Union Pacific and
Steel contributing nearly one-haIi OF
the total.
Acts As III Under Raid.
While there could be no DOUBT OF
real liquidation being In progress the
market acted as if under the influence
az a raid Of vast Importance Malign
influences have been busy of late and
have succeeded in making the pub
lie feel that the great harvests are
a real calamity and reason Tor
selling stocks.
The politicians are exposing
startling facts in relation to the
management OF the banks and stock
sxchange--' exposures that are regu-
larry made m formal reports and that
every messenger boy in wall street
knows all about Today's contriou-
zion was TO the effect that certain
stocks were dealt In on the exchange
I'm volumes many times greater than
xhe number of shares in existence.
There is a horse IN Hoboken that has
changed owners seven times In the
past month. Only one horse ana
eight owners 1t is time for congress
TO investigate that horse.
Somebody Must Control.
Public establishment expressed by
the congressional committee at the
discovery that ]. p. Morgan really
4 controls the banks thai. he controls
is pathetic. Somebody has to run the
hanks and as the government refuses
TO assume responsibility. Mr.. Morgan
and his friends are forced to do the
governments work fer 1T There as Tae
legislature or congress that can con-
troll the laws of trade and by neg
lectinR 70 do It's duty and iegaiizing
logical bank management congress mas
forced the great capitalists 10 take
charge OF tue BANKS just ses Nhsio 90
WAYS win lie found some man in a
mob who will direct its energies either
TOR good or bad.
There have been no quarreis among
she big men of Wall street. The hanks
have been forced by the government
80 call loans. and this fact has given
ammunition to the bear traders which
they have used to deadly advantage
strength Of Southern Pacific TO-DAY
suggested that the stock was being
purchased fer control under cover OF
che raids on Union Pacific. There
are several other railroad deals in
. concentration and the weakness today
81 Chicago, Rock Island and PACING
4's. which touched the low record
urtce for the year of 81 Is, Suggest
ed that the Rock Island system might
be interested
Positive announcement was maze
Nv 4 news bureau that the Supreme
court decision In the anthracite cases
was being printed and would be SUB
uttted to Chief Justice white on FRI
day.
Number Of shares sold today. l.
.265.s74; a year ago. 5s05So.
Par value Of bonds sold today, w.
$4,000. a year ago. ss,9os,oeo.