The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-03-20
USUAL TUESDAY
REACTION COMES
RECENr ACTIVE STOCKS HAVE \
SLIGHT SETBACK AND NEM
LENDERS APPEAR.
SOUTHERN PACIFIC UP
NORTHERN PACIFIC AND >Rotk
ISLAND >U>rICioTsL, ACTIVE
BEET su.NR EXTRA DIM
DEND M HoRED.
SOUTHERN PACIFIC Up
II, THOMAS &. sHoTwEIL.

MEM YORK, March 1.-THE re-
action that always comes on Tues
days when stocks are on swing
inward came in Wall Street today,
There was slight setback in these
shares that have been most active
recentiy. New headers were pushed
to the front in the shape NJ southern
Pacific and Amaiga mated Copper. the
three things having most influence
on the constructive side are familiar.
The first was further evidence that
4here viii be no coal strike. IN
America: tho next VAS an admission
by Judge Loyett. president of the
Hartman lines, that the Panama
csnai viii help tho railroads more
than II will hurt them, and the third
MAS official confirmation of the an
nouucement Of 81. Paul plans Tor big
Expenditures this year.
While Erie maintained its mys-
FERROUS character more light was
thrown on the recent activity in the
stock 1t seeIns that the board OF
directors have passed. or promised TO
pass a resolution setting aside all
SURPLUS earnings for the next three
wears 10 be used for double tracking
and other improvements. The road
has already secured ten million dol
fxrs for that purpose and Ii TINS new
policy is to be adopted II VIII mean
fo.al 4xsenditures Of more than twen-
IL
wears. The necessary result VIII be
dividends on the common stock In
four Years il can also be said on
the highes. authority that the reason
for the rise in the stock Is not go innch
luyfns as tho refusal of the big peo-
pie TO sell. pool, perhaps ,hc
largest ever formed in Erie. has taken
the stock TO hold for the dividend.
The stock costs the pool nearly the
present market price and prices re-
Gently recorded furnish no temptation
TO sell.
Hclp Southern Pacific.
Cheerful statements by president
J,ove,t aud Vice President kruttsch-
r,ift Of tho Hartman lines. hcfred
southern Pacific. The break in Ila-
mol Central has not worried then,'
business on the lines in the West is
rood. Even In California, where the
absence of rain WAS pecohahs
aerious matter. there has been reliet
in recent storms. Snowfall in inc
mountains Ia far short Of the normal
hut II In stated that there VIII DC
enough for Irrigation. The Hartman
system |. not yet ready To announce
that II will build into Vancouver; -,
G, Such an announcement rs ON"
matter OF time. for the Panama s'u'
ton demands such move,
President Taft's determination 10
taat into the coal miners trouhies
has M doubt inspired President iiaer'
~ the Reading. 10 announce that n"
VIII reconsider tho matter mus 'nt
Goa, strike Is becoming less ana less
menace. ,, {.
While he strike lasts in Europe IL
Ia helping Americans. Ihere Were
today thirty-fivc ships at Ne"por.
News waiting for coal Tor EUROPE.
The demand for coal is so great that
the n. II. Rogers road the Nirginiah'
has borrowed s2b.ooo.0oo in LONDON
TO spend for equipment or course
the eauiment cannot be secured IN
time to do any god In this particular
rush but the coal strike has opened
the eyes of the British bankers TO the
possibilities OF the Rogers road
Northern Pacific Active.
Northeru Pacific and Rock lslahu
were saspiciousiy active ana looheu
as though being prepared Tor up.
ward moves. Both systems suffered
last year from the dry weather, the
one In the sping wheat belt, the other
in corn. This year conditions arc
ideal In both territories ana II VIII
be strange IL the ultra-conserNatlNe
interests back Of them do not make
some demonstration of joy in the
stock market.
American Can has given signal
10 the faithful for what is coming.
American ugar, also. IL looked upon
as n possible celebrant because OF
The remarkable earnings OF the last
year.
Beet Sugar people arc beginning TO
talk again. of az extra dividend OF b
per cent on the common STOCK.
Strength OF the New York Central is
sues was due TO circulation Of ad-
vance copies Of the report Tor the
last year that liz published today. The