The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-03-19
STOCKS M0NNG UP
70 HIGHER Levels
DOwNwARD MOVE IN ILLINOIS
CENTRAL Is CHECKED BY
THE INSIDERS.
ERIE IS MYSTERIOUS
MANY MoRs OF PURCHASE ny
CANADIAN PACIFIC ARE rcsI-
TIvELi DENIED ny HIGH
OFFICIALS.
ERIE IS MYSTERIOUS
~ THOMAS G. sHoTwEII.

~
resumed their movement TO higher
levels today, scoring some material net
gains The best work Was In the
standsrl issues, but enough speta7:-
ties were lifted to give speculative
flavor Ia transactions. Of the standard
shares Erie was naturally at the front,
hut IL was accompanied with steel
ard Union Pacific As II moved up
ward, while malcamated Copper sus-
tanned the new dignity Of the copysrs.
OF Hpecialties Can ana Rtscutt at
fracted most attention. both rising to
high record prices.
illinois Central made new low
record for the movement, but wac
suddenly checked when insiders be-
gan buying the shares. Announce
nent was made that no new stock
* TO be put out and that the dividend
is not TO be reduced. There Is reason
for SuspoCttng that the break In the
stock was for the purpose OF aceumu-
iation as the strikes on the Hartman
lines are about at an end actually as
well Us officially.
Europe Is Troubled.
Foreign exchanges were in disorder.
but that has no influences on Ameri-
cans. The labor and political troubles
of Europe are far more desperate thah
;hos. OF America. Besides tho Euro
pcans Iiauidated American shares last
: summer o-frects-thsst- their faSer
10 do harm IL limited. II 10 also
question whether. under present CIR
rr,ns,ant,es: Europe would not rather
buy than Sch American issues. Europe
In tt.~t entering ii social revolution
"a right wrongs that never can exist
In America. America Is just energ-
ing from five years of panic into q
new era of prosperity that should no
iv. years more growing.
steel shares gave confidence To the
market when they began to swing
upward early In the day. II was
noted that an effort WAS made 10
prepent EXCEED movements IN all Is
sues. The rise IN Can ana biscuit
did not disturb the Street. heca use
nobody has any Of those shares eA-
fspt for investment. The reasons for
the movements We're also well Known.
so the element OF mystery WAS lack
Erie is Mysterious.
Erie. however. maintained it's mys-
tsrious bearings. Fresh denial was
obtained from the highest possible
authority that Canadian Pacific had
bought, was buying, or intended 10
buy Erie II any ANNOUNCEMENTS, ~
,nnaa thig week II must be regarding
new financing or arrangements tor
more traffic
strength of the copper shares was
Sustisied by the figures current 90
PRODUCTION and consumption. safes
sraY. made al IA 3-tc, The world 5
nutput OF the metal has scarcely IN
creased the last ire Years while the
consumption has grown materially
y-ho strength of the situation lies in
The determination Of tho Few men IN
control Of the copper properties OF
the world to limit production to about
what the world vii consume The
understs ndng is perfect. The metal
will not be permitted to go much
above or below - cents "a pound
Alaskan Reports Exaggerated.
Recent reports OF the vast tonnage
blocked out by the tiIggenheims IN
Alaska prove TO he exaggerated. The
Guggenheim- NJ organ syndicate that
built the Copper River railroad has
shipped the last year about $2.ooo,oVo
worth of copper and has that much
more blocked out. But that Is all
the development that has been done
and beyond that the value or the de-
post is problematicav.
Announcement was made OF the re-
financing of the Goodrich Rubber
Company az forecasted In this column
several days ago. The new stock is
issued for the Sole purpose OF nnanc-
ing accumulated profits
There IL talk OF n campaign to be
begun soon on the Rock Island Is
eilee.
While IL is too early 10 say positive
IY that there will be no interruption
~ coal mining about the first of April
ii IL growing more improbable every
DAY that there will he. The operators
and the miners leaders are being i'm
portuned every day oy big business
interests 10 adjust their differences
and thus put no obstruction In the
way Of reviving prosperity. All parties
display a disposition to be reasonable
and happy outcome Is confidently
expected.
Number Of shares sold today. So,
152..Ta year ago. s15.@1-
Par value OF bonds sold today, 81
$4,000; year ago. e2.3ss,ooo.