The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-04-12
!ElR IN Street
opoAI ANNouNcENESr THAT
keeD - osER HELPS RrS
rp rNICEs.
AIN PRICES ADVANCE
S0~knDEns JUMP ON READING AND
& 1mmaGa VALLEY N LAST HOUR !.
4 nrT ONLY INVOLVE THEM
st SELVES DEFER.
AIN PRICES ADVANCE
- THOMAS c. sHorwsLL.

~ THOMAS c. SHcTWEll-
NEW YORK, April N.-Severai
- high records appeared today in
WAil Streets message OF assurance
~ thcse tsruid ones who imagined
mat Rcoseveiss victory in Illinois
would start panic. Wall Street
d1sliises Roosevelt. bu, nobody of i'm
porfance irnagines that even hts cleo
ton 70 the presidency would do more
1)lAn merely re,srd the wave ~ pros
pcfffy that Is growing. This stcc-
market has been based sound
fundamentals. In fact Wall Street
payr Roosevelt the compliment OF be-
11e~inE he also recognizes the signs
~ returning prosperity, and Is anxious
~ BE- President In order that he may
clAksn credit for the revival Of bust
ne1s.
Great Crop Of Corn.
Among the reasons Tor strength In
1odar's market was the official an
measurement that the flood in the
4ixetseipps valley sas passed the
WofUt stage The food has done its
0fkhtv work OF fertilization and the
auick$9 il goes the better What the
xxftcuituraf regions need now is a
peftpd Of sunshine The critical per
~ has arrived for the crops. There
N talk Of large abandonment Of win
ter wheat acreage because Of the
hoods. Last year fully os great an
acrNage was abandoned because OF the
tlrnuEht. The abandoned acreage
fiis year will produce d great crop
u corn. Last year IL produced al
Mcef nothing. The advance In grain
prices Ia due to sentimental worry
pver the government crop report or
NNdneE1ay. Az every practical far
aner knows. an April report on win
tef wheat In about as valuable as
me made the daS after II is plant
~. Its publication Is an outrage
mat should be stopped. for It Is
useful only for purely speculative
ruYpose~ in the grain pits.
Steel Sheets Advance.
Other reassuring developments or
the tiay were an advance in the prices
~ steel sheets, unofficial announce
inert that the anthracite operators
would give the miners an advance OF
wages thus MAXI strike inpoG-
a1bIe. and the assurance from both
railroads and locomotive engineers.
privately that there will be no
strike of locomotive engineers,
The strike vote II matter of form
and is taken for the sole purpose of
vAstfnx the locomotive committeeman
with full authority to adjust differ
ea1ces II is weapon that the coiu-
tnitfeefnen have not the slightest In
tAntton of using The engineers SIM
ply want the railroads TO know that
the gun Is loaded
Business on the Mend.
The frank admission by Daniel g.
REID that he believes business is def
+ nitely on the mend had much to do
with sentiment in the Street Reid 5
sincerity was proved by the strength
~ securities that are under control OF
group Of bankers with which he IL
CLOSELY identified. Erie. New York
Central. Reading. American Can and
United States Rubber were first OF
these stocks tibet made new high rec
or6x -teday in most OF these stocks
] there is "A large short interest out
standing for the accounts Of profess
uional traders, while the buying has
heen Of an investment character foI
weeks. The traders jumped on Read
ing and Lehigh Valley In the last
+. hour again today and only succeeded
4 On Involving themselves deeper.
Railroads Moving Up.
United States Steel liz the same tech
neal position. Much OF the advance
III steel stock has been at the ex-
Il pNssse Of the short interest. nadia 7
Il Pacif5c was the star performer with
IN advance OF more than FIVE points
20 the highest price on record. The
new high records in Canadian Pacific
Are graceful little thank offerings te
~ American Congress for Its plan OF
61sakjnG it Illegal for American steam
NAfp1 to use the Panama canal. thus
seGring the canal az an investment
ssaa6e by the United States for the
3asjeits Of Canada. The bill pro.
4 nGned at Washington forbidding ,fss
~ the canal by steamships owned h,
F4iIroad companies Is such viciou,
Measure that one might almost be.
lteye lobby OF Canadian railroads re.
apOnsibie for 1t. If Their. are On,
AHIerican citizens In Congress thi.
Measure will be killed.
81. The high record in Erie was due
~ i renewal Of pool operations based
On satisfactory evidence that the lit.
4 In people who tried to follow the
peel have ali becme discouraged and
quit.
New York Centrats record price
RSDs the result ct constantly ifnproy'
ing net earnings.
Number Of shares sold today. STA
9lt. = year ago, 1882.
PMr value OF bonds today. $3.50
80: year ago. $2.2i:.ooo,