The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-03-18
DInk INTERESTS
NOW OPTIMISTIC
SUBSTANTIAL IMPROVEMENT ~
THE STOCK MARKET SERVES
TO ENCOURAGE.
GREAT CROP PROSPECT
LABOR DIFFICULTIES ARE Sun
MERGED ny GREATER coon
NEWS FROM THE AGRI-
CULTURAL REGION.
GREAT CROP PROSPECT
~. THOMAS G. suOTwEIL.

By THOMAS Z. SHoi W1ttn
NEW YORK, March It's bs'ah-
tiaI Improvement of the stock market
the mas, week has encouraged the
banking interests that have arraseo
themselves on the side of optimism.
The reaction at the close OF the week
VAS purely technical and Was permit
Ted TO stop the Wild speculation In
Erie. Erie is the backbone of the
market lust now and Its friends do
no; want any setback IN the issue
t,st II discredit the serious work they
have planned for that property ana
for the general list
Serious as are the labor difficulties
tha; Wall Street Is hearing about.
they are submerged In the greater
coed news that someS from the agr1-
cultural regions. Union labor II In a
hopeless minority when all the work
ers OF the country are counted, ana
will not he permitted to halt The up
ward movement even II II should
show q disposition TO do so. which
IL has not done $50 far. II does not
even control the anthracite situation.
and very brief interruption Of min
ing operations r. tho worst that can
be expected. Nothing approaching
The dignity OF real strike IS cx-
pected. ........ ..--.-......-.
Industrial RcbclIon..
Europe labor troubles are puz-
xiing Americans more and more. for
they seem 10 he more Of industrial
r.AaIi!aIs than strikes. II they had
been mere strikes they would have
been settled by the terms offered. II
may be, therefore, that the European
governments will be compelled to
satfl. the labor disputes arbitrarily
because of the public distress that Is
becoming acute. America is tenn
porarlly proiiting from Europe's dis
tress.
Wall Street powers refer to wheat
crop situation just now. for all other
business depends on that. The poll
lleians have lost most of their power
for harm. and while they may cause
some temporary damage to business,
no serious setback Ia expected. The
extreme positions taken have made
IL certain that not even reasonable
reforms will be inaugurated in tariff
or any other department Of the gov
ernment soon.
Crop situation.
The crop situation, however, con-
t'nues to improve at a rapid rate
Plans are perfected by the farmers
for planting more acres of every
Ming than ever before. Even the
average acreage 81 recent years. with
average change, will give the coun-
try crops worth billion more thar
those of 1871. for 19t1 fen behint
the previous year that much. 1t nee
esSarilv follows that meat will b'
cheaper and the cost OF living mate
ffaIly lower by the end Of the year.
General conditions being such a
To make the railroads buy eauipmen
freely and TO quicken all department
of business, ii ia worth Will. finally
after many months TO Inquire az t.
the possibilities OF particular proper
ties. Naturally the bargains will h
4 hunted out first. II is on this theor
that Erie has been purchased SO free
~ the last week. The rise has nn
been due 10 the sudden discovery @
its value SO much as to the suddel
realization that the time for pess
imism has passed Even with It's re
cent advance Erie is two points an
der the high price of last July. Tn
general public lis just discoverin
what the insiders have known 10
months. that Is, that Erie Is bein
made into a real railroad. Ii ha
benin the hands of unofficial recelv
<rs for several years and has enjoyc
drastic reorganization.
Speculation Wakes Up.
Most Of tn. talk Of deals In n
doubt idie. The Hartman estate, 70
instance. sold Its Erie more than
& year ago and SO cannot be selling
now. as Wall street imagines. OF
fetal denial Is obtained from tn
Canadian Pacific Of any intention o.
the part Of that company or any q
Its subsidiaries To buy Erie as re
ported. Some definite announce.
ment Is expected on Erie this wee
and II is liable to take the shape q
n statement that arrangements hay
ben made 10 dispose OF big bloc
OF the convertible bonds. Such
transaction would be Immensely bull
ish as IL would put Erie positively Il
the list of dividend payers three year
4rarss r.rssrs -,sss 49,. l.s 80 80
In view OF labor developments TIL
terms offered By the operators Shout
be welcomed. This being the situa
ton In business. agriculture and la
Dor circles. investors can afford I
lay plans now for the great prosper
fty that Is assured. Fluctuations suel
~ the stock market has seen the las
lew days are nothing more than sym
toms that the speculative spirit
IL waking up. Speculation. has ma d.
The United States what Ii Ia and Their
rs no reason to- believe that IL hs
II dffd out in. the least degree 1t ha
simply been lying dormant await
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