The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-03-27
WHOLE WORLD TO
SHARE OUR GAIN
PANAMA CANAL To NE CoNTRIBU-
ron To INTERNATIONAL rRos-
rERITy AND JOY.
I CONDITIONS IN STEEL.
ACQIITTAL OF CHICAGO pACkERs
GREAT GAIN TO III sINEs>.
NsRKET CLOSED oN AD-
VANCE MORE
CONDITIONS IN STEEL
Nv THOMAS G. sHorwEI.L.


NEW YORK. March 26.--~Acquittal
or the Chicago packers by a jury
IN Federal court after nine years
OF prosecution. was such great iIrgu-
snent for prosperity that the stock
market was prevented today. from
having all tho reacton normally due.
Another favorable feature was the
4 advance Of copper sneiai TO Is 81
cents pound.
Roosevei,s defeat In Indiana help
ed materially. The public kept on
coming for more Stocks.
The result ~as that after mild
reaction. In the early part Of the SEES
sion. stocks recovered. held quiet for
short time and then started on the
swing upward again
The market closed in the midst
of this upward movement.
Some speciaitiea made material adj
vsnees for the day, oven in tho face
OF the reaction. These specialties
were not such as might be called
leaders, but they were gu SUBSTANTIAL is
sues, such as Rubber. Beet Sugar
and Bethlehem Steel.
Ruhhers move needs no expiana-
ton. bu' the good earnings and the
new policy of conservatism p0t into
practice by the company.
There are rumors OF an increase
OF the dividend tn a per cent. basis
hut these ruraors 90 ret originals In
of1iciai, or even in we'll informed.
quarters
Tho movement in Beet Sugar il
based on collapse OF tie movement at
Washington. to take the tariff Off
sugar. SO certain are the Beet sugar
men OF the impossibiIity OF that move
ment, that they are planning to put
several hundred thousand dollars more
OF capital into beet sugar factories
In theory the duty ought 10 come
n ar he mat Ia yaduEed lint fhA
country liz aweary of theories, and is
working On a fact basis.
As to Steel Conditions.
Tho movement In Bethlehem was
said to he based on proposition TO
absorb the Chicago Pneumatic Tool
Company. Bethlehem guaranteeing
per cent. on its stock.
That rumor was not confirmed to-
day. and was not needed to explain
the strength of Bethlehem. which is
the one steel company OF the coun-
tr.. running practically full at profit
able prices.
Amalgamated rose baca shrdlu
advance NJ copper. Iaetal prices.
bid of s. g- scents "A pound WIS re-
fused by one Of tho Big producers.
The copper companies must NIL IT,
crease their output soon, or conner
metal Viii be several cents higher
and the old speculative conditions OF
five years ago will be repeated.
Above fifteen cents a pound a mul-
titDde of little mines can produce
probably. and. II the metal remains
there any length Of time. the country
viii be flooded with new promotions
Among bonds the Interbo-o- Metro
raliian and the Mercantile Marine Is
sues were leaders, advancing point
each.
The advance Of the former was
purel% speculative and followed the
movement In the atocks.
The latter. however. was based on
real improvement. OF conditions.
4 boom In shipping already exists.
and the Panama canal Is going TO
make the whole world prosperous for
generation.
Panama the Nolds Wonder.
The revival oof the shipping indus-
frv Will be- ono Of the rnarvels of the
century. Pacific Mail stock is being
quietly taken out of the market. and
presents one of the nnest speculative
opportunities in the Street.
Congress will not, of course. pass
the absurd bill. forbidding use OF the
canal TO steamship -ompanies owned
oy railroads.
The Pacific Mail will build four
more great ships and become an i'm
portant figure In the shlnning world.
The Itnion Pacific management has
not vet awakened to tho Importance
~ the Panama canal. but will do SO
in year or so at the latest. and the
Pacific Mail will be prominent fea-
ture In the grea. work the Hartman
lines Will be called on 10 perform.
With tho British coal miners foun-
dering under incompetent leadership,
the American miners are beginning
to display an equally woeful predica-
saenL They want another conference
with the operators, but are standing
or their dignity. waiting for the ONE
rators to ask for II. The ascendancy
Of the socialistic element In orgnniz-
cd labor. Is proving terrible handi-
cap for honest organized labor.
In the Street: Number of shares
sold today. s,&42: year ago. s4e.-
ISL.
Par value O. bonds sold todaS- So
$4,000: a year, ago, 1905 ,o0o.