The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-02-07
5E CENTRAL
LEADS PARADE
sAnCses rHInTY-rIvE POINTS.
esnER STANDARD STOCKS
FOLLOW suIr.
TRADERS SHORT
fovEMExr DIE TO RELIEF CON-
srHvArIvE DEMOCRATS WILL
4 rREvENT PRoRE or THE
4 ..MoNEY TRUST"
TRADERS SHORT
- rHoMAs G. sHorwEI..,

ENSNEW TOXIN. r en- o.-Aue PFoics-
nal short interest in the stock mar
ErSt was SO large today that when
I54rsey Central Suddenly advanced IS
sotnts traders took fright and began
RRfoversng freely In all departments
4 aondinx, the owner of Jersey Central.
6mnfural,y was most active and there
sSSas quick advance of over three
E160fyts In this issue. Southern railway
SSreferred moved UP easily on rumor
sS&At II was to get per cent. dsei~
Ind Then Steel and ali the cop
ehnr1 swunS into isne with Union Pact
sHt moving up in an impressive man
Il Tho covering movement thus forced
e1kas due very largely to belief
iH3aong professionals that the conser-
SHttve wing OF the Democratic party
would prevent investigation OF the
S*s1roney Trust" The short interest
f2ns been outstanding for the account
n small traders. The big interests
Ave sold some stocks for turn. but
1--we not gone short. Numerous trad
- who ought 10 be handling hum
s0seA shares have become 80 bold as
- 70 short of thousand shares and
%
fe1ass Of traders that caused the rally.
In the late afternoon the govern
1nent secured an injunction against
ffhe Steel Trust to prevent the de-
SifYuctiou al documents that will be
ETe<dAsi as evidence In the big trial
Enf the dissolution suit II was a
sShcck To the public to be informed
IN government officials that the great
Knitted States Steel Corporation would
10 such q thing as destroy evidence,
E4Ae street In general believes there
80 been some misunderstanding for
|3hA destruction of evidence. under the
circumstances alleged In connection with
S1he Injunction Today, would amour
"a plea Of guilty.
Tho advance Of Jersey Central has
not explained the mystery in which
S9he stock has been involved for sew
nfAl weeks. 1t IN evident, however
;al1SxF Ihefe must be something TN,
ssI,rtnnt In view, else the stock could
Snot hold its own as II has done. Sew
sHynl things could happen. 1t has ex-
Sp&aded many millions on water front
Improve In New York harbor,
|4lxaf could be capitalized. Because OF
E<6ntrcl of more than two hundred
@naiies OF trackage In the State Of
17hennsylvania ownership Of the Jersey
Central by the Reading IL illegal
under the Sherman antitrust law
10 bring the property within the law
Reading might either distribute Jer-
~ Central stock to the Reading
Hharehoiders az . special dividend, ol
COO, company might be organized
Is take over the subsidiary corpora,
4fon through which Jersey Contra
oWns the Pennsylvania frackaRe
- krrS. ~Urtt II sNE t4
Pacific every time 1t is under pressure
IN EASY 10 and. OF course there are
vide differences of opinion regarding
The level OF stocks In general. but II
III he admitted that the general level
IN the market lis reasonable then
Eaton Pacific stock IL unreasonably
low. The strike situation has hurt
the road, and until an American army
oets blishes peace In the republic OF
Mexico. the Southern Pacific end oil
The Union Pacific system Will be SUB
Net 10 possible damage. But II is
snniy question Of time when the
& 1exfcan AFFAIR is settled and then
zIynfon Pacific will be found dominat-
55nS the Pacific seaboaru.
81 This domination will be brought
~ bout largely by the Panama canal
6arAngs tn say. the port OF Vancouver
nm the key TO the Western situation
- far as the Union Pacific Is con-
seprned Ofiiciats OF the system re-
fuse 10 admit that they are piannins
ssta huild into Vancouver I'D beyond
Y ancouver. into the wheat fields OF
Canada. The man. however. tells a
Inherent story. Union Pacific must
Abufld into Vancouver. by building
into Vancouver and operetins line
IN steamships from there through the
Panama canal 10 Europe Union Pa
clio can send out great cargoes OF
xfNln and bring tts ships back loaded
with merchandise to be distributed
over the western part Of Canada. and
the northwestern parr OF the United
I ktate2.
Immigrants for West,
@ But. most Important or all. these
ships can also bring millions Of i'm
migrants to populate the vast stretches
n 81 fertile land that's are now wilder.
s1.f4r firs- ,essss-rrf fsssFf.s,f TIRE a M ~
States has more than It's share OF
cheap labor The reason for this Is
that from half Il million to a miller
gcf laborers come to the ports OF New
York and Boston, every year with
rnouxh money to take them only q
] few miles westward. They find lodge.
merit In the coal mines Of Pennsy1.
eaTsia or sorne ~ tho many factories