The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-02-08
UNION PACIFIC IS
LEADER FOR DAY
MARKET SHOWS CONSIDERABLE
STRENGTH ALTHOUGH TRAD
ING Is LIGHT.
COPPERS STAY STRONG
VANCOUVER Is KEY TO PACIFIC
RAILROAD SITUATION, rATRIo-
TIsM PLAYING No
FIGURE.
COPPERS STAY STRONG
BY THOMAS c. shorwElL.

NEW ionh, eD. t---lHSST ieao-
ership Of Union Pacific the stock mar
ket showed considerable strength to-
de- ALTHOUGH trading was light. be-
cause professionals were afraid TO do
much without knowing what Con-
sress intended to do Hb1ut an tnves-
ugation Ct the Money Trust.
Much Of the strength WAS the re-
suit OF short covering. In Union Pa
cifc there was some genuine invest
ment because of the wonderful posi-
bilities that the Panama canal will
open up for that company on the
Pacific coast. Third avenue was
about the only weak issue. Tho cot
ton market had another burst Of
strength.
The dispute over the Money Trust
will be settled before the market
opens tomorrow. Fest opinion In Wall
Street Is that If II In referred to
the regular committee of Congress
there viii he no serious results az
that win practically KIN 1t. spe-
c.al investigation for political pnr-
poses. however. .uch az planned by
the Bryan party under leadership OF
Mr., Henry, viii cause considerable
excitement. Mention OF Samuel Un~
terraeyer's name as attorney for the
committee excites bankers.
COPPER metal continues strong and
the stocks have a good market in ex-
psc;atIon of q large reduction In the
stcek of surplus metal on hand in the
report this week for the month of
Js auary. The advance today In the
rrice III silver metal 10 hs rs cents.
which is the highest price in four
years. is helping the copper companies
for the great once produce much sill
yer as a by-product particularly these
Ia the Butte camp.
Geography, Not Patriotism.
The statement In this column yes
terday that Vancouver Is the key to
the Pacific coast railroad situation,
has been challenged by some persons
who fancy Seattle or Portland should
be favored by the Union Pacific sys-
terns Politics and patriotism cannot
be allowed to interfere with ques~
ton OF railroad management OF such
importance This happens TO be q
matter OF geography and fact. British
Columbia. Of which Vancouver 10 the
natural seaport has 1so0oo.oo0 acres
uf primeval forest IT, timber from
which can supply the world with lun-
Ger for a hundred years to come,
even II none Is cut anyw here else at
all. Its tumuituous rivers can be
utilized to develop not less than 26.-
6n0 900 horsepower at small expense.
There are 50.00o.000 acres Of garden
and orchard and meadow land In the
province that will be available when
the timber Is cut or.
The province has hundreds of mil
iinns Of tons of the beat coal ~iocal I'd
in itE mountains above tire level of
the railroad tracks that viii haul IL
to market. and finally the Yellow Head
Pass, through which the Union Paci-
DC will probably tap the wheat region
Of the Peace River Valley. can be
crossed without a sleeper grade at
any place than twenty-one feet to
the mile between the prairie and
Vancouver. Most American railroads
have grades IN reaching the Pacific
ocean running In places above one
hundred feet TO the snDe. while
. AtrfffSnfs' TufrS as high" by 4 s. fsay.
The Union Pacific itself has grades
as high az lis feet to the mile In the
United States
by Way of Panama.
Vast quantities of coal. lumber and
grain will within a few years be going
to Europe from British Columbia by
way OF the Panama Canal. Most of
the copper of the United sates will
70 by the same route. BY the use
Of large ships. propelled with oil
cargoes can be laid down in Liver
pool three weeks after sailing from
Vancouver. The entire freight charge
will be equivalent OF only four hun
dred miles of railroad carriage. The
export business will 20 by way OF
Vancouver because the bulky freight
will originate in British Columbia and
will naturally seek an outlet through
It's own seaport. The american SITS tes
on the coast having comparatively lit
tie Of this class OF traffic will be
unable to build up ports tustifying
such 4 vast tonnage OF European
1fn>ra =. will he com peilAd tn 20 TO