The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-10-17

BUYING IN EVIDENCE
~ THOMAS G. sHoTwEIL.

NEW YORK. Oct. th.-~~StoCEs
c1ossd strong today az about the best
" figures of the day. with material NET
gnins for the session. They gave
rensar kable demonstration ~ the
( pcwvr al the American market 10
4 absorb foreign selling, The demon
Il Fsrasaun, However, WAS nothing more
I thar was expected wv those persons
Swha have kept themselves fully IN
Formed Of tho development ~ bust
ness In this country, Tho panic IN
II American investors 10 pick up good
& Eur0pa, which was the result OF spe-
cuiatiou. was the opportunity ior
stocks at low figures. The foreigners
I being unable 60 SELL their own stocks
were com. elled to sacrifice the gilt
edged American issues
Instead of liquidation these stocks
as is unuallv done after such a break,
the American operators proceeded to-
d day to buy more IL the same in the
local market
Canadian Paci4c gave the best &C
count OF Itself with an opening !
nainfs above the closing Of the pre-
4 vious day That advance was main
tanned throughout the session, and
Improved in the last few minutes of
trading Steel crossed ~ IN the late
trading in Wall Street, and closed
Il with O net gain OF nearly points
4 Tor the day. Union Pacific. Reading
and the copper stocks abroad were
N also CONSPICUOUS.
The copper situation abroad shows
" great Improvement Directors OF the
b Amaigamated will meet tomorrow to
increase the dividend to . per cent.
\ The promise OF per cent Is not
4 Official but it is the general under
4 standing that that rate Will be de-
GIared Utah Copper was better be-
cause of the success Of the company
In getting more Of its plant in opera
zion in spite Of the strikers.
Urgent buying Of Steel was in evil
n dence not only for the account oil
4 traders who had sold It short but fof
the account Of insiders Of the com
u pany who are only now beginning Il
II II realize agsE. business has Improved
The trade authorities report all mills
1 crowded with orders ahead Tor s!A
months on the average. Several prlc'
lists of iron products were advanced
n today d dollar and more a ton.
-; Next Il, the .t4setsFa EtassnR Of sfsse
and Amaigamated perhaps the pes
R a,uytng is in 81. Paul. The STANDARD
E Oil people are issuing most dolefu
forecast of the future. and, at tn
same time they are buying ST. Pau
R as fast as il can be gathered up with
put attracting too much attention.
Reading has been accumulated 10
the strongest interests In the seree
N for the last two months. Whether OIL
the up swing or on the down swing
B the stock has steadily disappeared ant
& III Is Impossible to find any specih
II reason beyond expectation or som
melon cutting. Reading has severa
NJ tuicv melons in its treasury that
could slice up. either by order or IN
d supreme court. or voluntarily. Their
By ii little doubt that the supreme cour
viii order Il distribution. and, as tn
n decision in the coal cases may com
\ down next Monday. the Reading my
stery promises to be solved finally.
Corn products made a high recor'
today. and Beet Sugar showed down
Il ward tendency. Ldnseed was ais
II strong, because Of the big crop o
n fax that will furnish cheaper ray
material The weakness of Beet Su
u gar attracted much attention 1t !
due TO the fact that last years enor
II NOUS earnings tAe-reStlt OF
crop failure in sugar beets abroad
Al the tobacco shares were olie9;iYi
hoth on the exchange and on the curt