The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-11-05
EVE Of HOLIDAY
MARKET IS STRONG
11m EUROPE IN UPRoAR AND
INJECTION HERE. THE EFFECT
~ SLIGHT.
BUT SUGAR BREAKS
zkAMwAYs IN NORTHWEST SHOW
STRENGTH, BECAUSE OF THE
HEAVY CRoPs--COTToN
ADVANCES.
T SUGAR BREAKS
NJ THOMAS G. sHoTwELI.


NEW YORK. Nov 4.--Taking into
account the facts that tomorrow will
be q holiday and that Europe Is IN
MAn uproar, the stock market display
ed considerable strength today. There
u we're some signs of liquidation in spe-
Ecific stocks, but towards the end OF
9 the session the standard issues dis
played firmness. The close was
@strcng. Business was light through
kSout the session.
As exclusively announced last
y saturday the Turkish bankers are
making arrangements for a peace
lean. Politicians in Europe are ex-
srited over the possibility of general
Nar, but the bankers stand iirm and
Z say they will not furnish money for
war and therefore no great war can
result The defeat OF Turkey has
been a great surprise 10 nearly every
\ body, But Ii may be a good thing
FER Europe because Turkish author
4 fty has held back development of
many thousand acres Of rich agricul-
rural land. and of mining districts in
AEsuthern Europe. With the Turkish
power maintained in Constantinople
I and not elsewhere. in Europe, and
with such fair distribution among the
ytrtors OF the conquered provinces as
the great bankers IF Europe will en-
Sfarce, there Is no reason to be much
+ alarmed over further development in
Europe.
tn election of Wilson as president
q ls conceded oy Wall Street. The only
thing that Wall Street breads is tsmt
Il npbosiy Mt all may get the majority
of the electoral votes and that there
fore the election viii he thrown inr-
congrtss. la that event half a dozen
men would be able TO hold the balance
|cf power and cause endless confu-
sion until next March.
Break i'm Beet Sugar.
A sharp break today in American
Rect Sugar took place and was the
direct result of fact announced two
4 weeks ago that the company was max
5Ss7ng poorer earnings and that the
strong pool that had been working
Stn it's stock for several years had
] transferred its activities elsewhere
Beet Sugar earnings this year are
fair hat they compare with The alb
-n6fnsaisy good earnings OF last year,
lit will be clear to the most casual
h obseryer that no increase OF dividend
y need be expected. Selling OF the
& stock will be the natural result.
Some weakness in American Can
was sympathetic because operators
who have been busy in Beet Sugar
ARE also supposed to be working in
Can. The weakness of Can, however.
was welcomed AS an opportunity for
4 picking up stock preparatory to an
!, Important move later in the year.
The tariff has no terrors for the
Can people.
a SHARP advance OF more than 81 q
h hale IN cotton was the result OF a
freezc <, the South. Grain wen. about
Na cent lower and gave evidence OF
'1fttle fear Of general war in Europe.
ST. Paul. Northern Pacific and Great
\ Northern were notable for their
ssrength This WAS no surprise, be-
cause OF the very heavy crops of the
northwest The northwest has such
great crops this year that even crop
FAILURE next year, can produce no very
had effects But crop failure seems
eeiient condition ii the soil AL over
the United states just now. 1t Is. OF
course, a long time ahead to talk
about next years crops but conditions
are ideal and the chances are largely
In favor Of another bumper crop In all
I ACTIONS or The country II. fatt+
Drift Toward industrials.
Brokers report n drift of traders to-
wards industrials-
One of the chief reasons is that the
railroad are earning about all they
months. There liz shortage of cars
md those in use are being used 10
their full capacity. Therefore, while
There Is an abundance of business to
BE done, the railroads have no more
equipment with which to do it. and no
material increases of gross earnings
must be expected The only increase
can come as new eaulment In dehvered
from the shops and turned into &C
tslai service.
The Canadian Pacific earnings are
ID sad commentary in railroad circles.
Canada enjoys liberei policy in re-
gard 10 railroads, There is regula-
stion without repression and the Cana
dian Pacific is enabled 10 sell all the
SECURITIES il wants to sell. and get all
THE FUNDS necessary for new equipment
IT'S gross earnings for October show
N increase of 1851. 900. The fourth
week Of the month alone shows an
snerease OF 100000. Business is grow
ting 80 fas. that even the Canadian
Pacific is not able 70 get equipment
fart enough.
Number of shares sold today. 3ls.-
i 74s; a year ago. 672.15s-
Par value of bonds sold today, ST.
e3s. 900; year ago. s4.l22,0oo.