The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-04-20
DVIND[Es
STOCK MARKET
| ssssaxsp soases HsAcnEs CLIMAX
An ACTIVE snAREs ARE
nEDrcED.
MARCONI GOES HIGHER
4 nATu.aoAD smAREs QUIET BECAUsD
or PHcULrAR SITUATION IN
REcARD To WAGE
DISPUTE.
'MARCoNI GOES HIGHER
RI THOMAS c. sHoTwELL.


/ Tftantc horror reached climax II.
- stock market today. business
dvytnd,ed TO about 100000 shares and
ne number OF active issues was
materially reduced prices. however.
hNld Arm. There was activity in epots
and this activity caused advances.
Besiiehem Steel and Western Union
were conspicuous.
Adverse influences Ignored.
Adverse influences were ignored.
Among these was the Mexican situa-
tton. the bomhardment Of the Oar
Aane1ies, the ultimatum OF the loco
motive engineers, and further az
vance Of the grain market. the
Mississippi river food grows worse.
The wheat traders insist that this
hood il y destructive influence. and
they are advancing the price Of grain
~ \ result. Tho cotton market has
not been moved on food news and
proved its consistency by declining
today when the flood news was at
the worst In 1898, al well az In
earlier yearA cotton was planted as
lase al June lst and made big
crop on land that was under mood
Ia May. The big operators look on
she nood No the biggest OF all the
arguments for big crops and higher
prices for securities this year. There
has been noihinS the matter with
the stoch market the last Few days.
hut the depression growing out OF
the Titanic disaster. That influence
promises to wear away by the middle
Of next week.
StAe3 Goes TIP.
Bethlehem Steel stocks and bonds
we're advanced sharply. because the
company has about finished arrange
raenfs for the issue of at least 3Ao.-
eV0 900 new bonds and perhaps as
many as $4,000, coo. These will be
used first TO retire some outstanding
Issues There are 100000 OF notes
and some &3,5o0,00o OF other obliEa-
lions that must be retired. The s1o.-
900, 900 OF bonds can be retired at
los. but It has not been decided yet
whether TO retire them at this time.
The company IL earning fully as much
n last year. bat there will be no
dividends this year.
The rumor that Bethlehem pre-
Iafred would be retired with the pro-
ceeds Of the new bond issue found no
confirmation, and Is not regarded
seriously.
Telegraph Buoyant.
Telegraph issues were buoyant. The
rise OF Marconi stock to $3.50 share
found no justification in fact, and Ia
due 70 manipulation by London orok-
err. he new Marconi stock rose to
~. Marconi stock. no doubt. has con-
siderable value as a result of the deal
With Western Union. announced to-
day, but there 10 nothing In the history
" the company to Justify an inves-
cor paying more than "A small frac-
tlon OF the price quoted today. West
Arn Onion 10 liable to get some advan'
tage by being able to use the wire
laou system on the Pacific, where II
fhs no cables. The wireless deal has
been huge stock jobbfng play first
and a business deal second.
Railroad Shares Quiet.
Railroad shares were quiet. perhaps
because Of the peculiar situation In
regard to the wage dispute with the
locomotive engineers. The roads are
Willing to grant half the advance on
condition that the men join in an APP
neal for higher freight rates. the other
half to be given when that advance
II authorized. The engineers issued
m ultimatum demanding an answer
from the roads within a certain time
I This liking Of time limit was fatal
for the roads were certain at once
that they could not answer within the
limit ret. The engineers withdrew this
monumental biuff and agreed to allow
reasonable time. Bluffing is some
fhing new for the engineers, whose
leadership in the past has been con-
sidered the best of all the labor or
Ranixations. Strikes will not be popu-
lar In America this year. The men
are no more anxious to have one than
are the roads. but II 1t comes to a
test II will be found that the coal ope-
fators and the railroads are better
prepared for a struggle than are the
oamployes. Being willing to make fair
compromises the employers will have
public sentiment In their favor.