The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-05-03
STOCKS CONTINUE
ON UPWARD SWING
HIGH RECORDS ron THE YEAR
MADE NJ CANADIAN PACIFIC
AND OTHERS,
MAY SETTLE DISPUTES
COPPER STnChs ARE AGAIN BEING
ACCUMULATED ron ANOTHER
SPECULATIVE MOVE
MENT.
,py THOMAS & suoTwELL.1

NEW YORK. May s--Nt"tFS 'V't-
tinued their upward swing To-Day loi-
lowing the clear signals o. opt1'nlS."
displayed the previous de} All ta'
steel anxbody cared 10 sell went |"
Headquarters of the strongest BANK.
ers Selling orders were few Anu
buying orders made their appearance
in great volume. Specialtias were
leaders but they lead in brilliant tasa-
Ion.
High records for the year we're
made by Canadian PavtfIc, American
Car. Nevada Consolidated. and Va
bash 4 per cent. bonds Aatefla
gains were made elsewhere and CYL
dcnce was given Of belief tn better
prices. Cotton turned weak and the
grain market reflected eyidence OF
Improved conditions.
The great underlying fact II hHe
crop outlook and public disgust with
politicians accounted far MARTY every
thing that was done. But SpeciitG
reasons were ut,ta4nahi~ Is account
for detailed movements Can ana
Canadian Pacific. which have he"l
yz1a king twin tTfrfr records ~ mont
are pretty well understood. the
former looks for greater earnings be
cause of the abnormal high prices TOT
food which is driving the pubic 10
eat canned goods never before
ord pack Of all kinds Of canned goods
this season and tho crop outlook NS
favorable for great production oil
stuff for canning,
Present prices IF food are tbs re-
suit Of the loss Of crops last season
Announcement was made last Septem-
her IN this column that food prices
would reach record high figures TINS
SrrtnE The records are here. Meat
Will not fall much ia price for the
next year. because farmers have been
compelled to send many thousands
~ breeding animals to slaughter Tor
lack of hay and grain with which to
carry them along. This shortage OF
stock will have To be made mp, ana
The price, of meat viii help otheF
food prices 10 maintain high ievels
All of this will encourage record can
ming. Canadian Pacific Is celebrating
among other things. the move ment
Of more than 250,o0o farmers into
the great W heat country Of the North
west from farms III the United States
Then there are rights 70 be issued
for the new stock out Of which money
is TO be raised for the doable-raek-
sng through 10 the coast.
May settle Disputes.
Much was heard OF conferences
looking To settlement OF disputes with
the anthra cite miners and locomotive
engineers. These disputes may safely
he forgotten ny the stock market. for
ali has been decided ou and the con-
1erences are matter Of form
isttie blutting helps labor leaders and
lets the railroads down easy. II is
all understood on both sides,
Copper stocks are being acoumu-
lated again for another speculative
movement The movement Ia Ne
vada Consolidated is due largely 20
The DETERMINATION Of minority stock
holders to force the Utah Copper
Company, which holds a majority. "a
increase its output. The demand for
greater output VIII haze tn be com
piled with eF the minority MAJ ssF
and prove some awkward things about
the agreement made at Paris last
Summer to restrict production. Ne
vada Consolidated produces copper
cheaper than any other mine In Amer
tea. and with the handsome profits in
the metal now. It is but natural tho
shareholders should wan. the output
increased To the limit.
Norfolk IL Southern advanced four
points on buying. supposed to lie for
the account of the Norfolk & West
ern, which wants q stock control OF
the PROPERTY Tie buying orders
were suddenly cancelled and the
stock fell back
typewriter Goes W rDfRR.
Underwood Typewriter and Sears
Eoebuck were strong on trade condt-
lions. Bag and Paper, Cotton OIL and
Writing Paper were up largely be-
cause the Street feels they will be
advanced bv the First National Bank
group that has made such a remark
a BILE campaign in Can. All Of these
stocks have merit. although the first
named ts largely speculative Writ
Ing Paper Is earning enough 10 Jus
rify its movement. and Cotton on is
in a strong, technical position.
- !. sRHvci}9g W@s.a;5aong .he strong fea.-
lures of the day ana ;ilis t.s7.e Il ssase
Joined by Lehigh valley Erie per-
sisted In being stubborn although
half the street was read to follow
the slightest display OF life in the is
sue.
The high record made bv wsbas 81,
ts was the result Of buying on the
part of interests Identified with tho
IA REORGANIZATION ~ the property The
committee as now constituted has
complete confidence ~ the fnancia,
world, and "a drastic reorganization
A r expected Tina Stockholders y, lIJs
nave 70 pay dearly for the privilege
q ge'ung control of their property
again The bondhoiders are countinr
On full return at the none, loaned
70 the company
Number of shares SOLD today. sci
1la a Year ago. 1870.
:. Far value of bonds sold toda,.
s-'93"o pF; year ago. $G.e21.606