The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-04-01

BY THOMAS @. sHoTwEIL

BY THOMAS c. SHOTWELL
| NEW YORK. March al.--ln such q
: market az the one now progressing In
wall street reactions come from tine
to time as matter OF course. Often
II 10 possible 10 see one co.aing a day
or TWO In advance but usually In. y
I are In progress and ended before the
general pubic realizes what Is gJiay
en-. Therefore the best authorities are
nj advising the public TO pay no al
tention 10 reactions except to take ad-
vantage Of them to pick up stocks II
they are not already supplied. rhs
! food OF news favorable 10 business and
/ the market has been SO great that q
reaction is due almost any day now.
There are thousands OF people ready
! to buy on any decline, being anaily
! convinced that this adynce is not ma
nipulated. Manipulation Ia bound to
| 60 on to some extent, for q market
will no more move wisaout leadership
tnan corn will grow without cultiva-
+, ton.
| Tho developments are many and i'm
portant. First there II the eiimina-
uon OF Roosevelt and the proof FUR
nisted tnat the people will demand
thorough truthfulness and honor In
high places. The great Labor troubles
! he British coal strike tnrougi, Ia sur
pris.nsly baa leadership has hurt the
cause OF organized labor SO severely
that the American miners nave wisely
decided to be reasonable. The soft
coal miners have already agreed not to
strike and the hard coal miners will
make such an agreement after q few
weeks OF rest. All the miners will get
advanced wages. The railroad loco
metive engineers have ever been DIS
| tinguished by high sense OF duty and
honor and they viii not strike but will
! adjust tKeir-- differences -peac fuflY.
The banks Are In sound condition
1 The United States n showing the
proper spirit In providing for the safe
~ OF It's citizens In Mexico The
Chicago packers have been set free,
J thus further discrediting the Sherman
antitrust law. President Taft In
standing firm for scientific revision
Of the tariff. The people are rich and
anxious to speculate. Even copper
metal Is in a sound trade position. and.
ove-shadowing all else. the crop situa-
tion is the best ever known In this
country.
| High lights of tne situation APP
peariny satisfactory. details may be
/ examined with safety. People want
bargains. The best ones are gone.
but many good ones nave been over
| looked. Naturally the stocks to be
benefited first by the Panama Canal
deserves attention. These are the
1the despissd p&Sihx, s1$atA ADJ >tlS
! Mercantile Marine tasues ana South-
ern Pacific Railroad. All OF these
will share In the richest rewards OF
the canal traffic. rhe raii~osd is
the only one that pays a dividend. but
I 49, 49,. ~-o1x{ n ~ =.
should Yield the greatest rettrn from
| present levels.
| Fer absolute chcarness combined
with prosre~ts Of future profits Ca-
/ M diam Pacific and American Can
common are perhaps the most de-
si~-hle issues In the market. Both
f-ich1en the nublic. the one because
i n c~i's 81 h6gh ana the ofer because
/ II aAiIs So low. Both cor,nan MES are
! WORKING in virgin soii without ser
| tons cor,petif,on. .ThA Ca"d'an P"-
! ci@- owns nearly twenty million acr"s
| ~ l,rd. to which II IL e~ti~'r- the
: heSt formers FROM rhe United States
with ,ts c-o-s ~ from thirty to ssvty
bushels OF wNeet to the acre on
~~an-a costing From aftAen to
twen.y dollars. as c.mnar~d with 6t-
| teen hu-~~tz s-~1i hundred dollar
l,-a ~ the States
| IT Is not question ~ nafr'ofis'u
MT ~ s,,i T-he -,ortAfv earnings OF
| the raiIroad tAIi tho story. TIE Can
| eny~~-pv ras bee, hoia',~ millions IT
| ea~rirvr and row blossoms forth
with an eav~s~- ren"c'tv IT Hn"al 20
tha e-.,-a r~ef~~~~d ri.'lA~rd 81 rer
~art w,t~ nesrsv - per ce,t ove- m
tire common. TNA~e are accn~r'at-
81 sfv,s~~ss 81 .rnrt ss ne~ can't Due
- wr-fyy hn A<ttA
on IN tina newt th-.A ye~~s Mt the
rresert rate ~ es-nsnss AMI the corn-
40, s.ock cAnrid rera"t the story ri
N.t,oral Rss~u't THAT adv"nsed
frcr, 90 70 isn. THE hi~h cost 81 Wv
,r~ ts due ia-~ety t~ '~A ~-Aat ~cr-
e",rrssnn Of TIN cars h-t the racrie
.skA To-. NJ. s~nrte4 ard *@sre saa.,ss 10
be no limit to the growth Of the busi-
i ness
Erae stock Is Booming.
! Erie n another stock that is being
! m used over on the bargain counter.
The biggest POOL ever organized In
| Erie has control OF the market IN
wall street and little people are
| frightened out Of II but the road has
come out OF Its unofficial receirevshtp
! in splendid condition and plans have
hess, made that VIII make Il the
eQuAl OF any 'otHcg AoHA htt1. 80 -
bends viii be- begun on Eric common
In about four years Sut the stock Will
! not swast four years "a ceiebrat
Tho list Of bargains might be az.
tended BY mentton.ag United states
Rubber. TELEPHONY Beet sugar.
bethlehem Steel. United States Real
| ~. most OF the copper stocks ana
many railroads. There are dozsns Of
| stocks that have been held back be-
cause their sponsors have not felt
sure OF the Immediate future II Will
take Some calamity. something new
and startling. to divert business from
the high trait to prosperity that 4 has
/. hit in the last few months. Conf
dsnce i. strong and is growing. But
Il 4 Also true now a. ever that the
narson who buys stocks on narrow
margains or with : faint heart VIII
ana many things 81 scare him rom
day ii dsy Jnd walf fo6S his 4money
iust ms same ~ thdu9n TIM world
i were entering intuR panic instead cf
| naarchIne tfiuntpharsly ouI %. vuss !
| orsslss osfsat ehiillsA