The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-09-23

discrimination IS
BEING DISPLAYED
- o. STOCKS UNDER PROPER
xKvEa. AND SOME ARsraD-
lr CHEAP.
HEAVIEST f X o r I s
IN EUROPE AND STR
&PLrs CRors HERE WILL CAUSE
mig MOVEMENT N
GRAIN.
EXPOR T S


INV MEM 1oSNsNs SNPt. as aA'H"" -
|She stock market last week proves
knt those persons who are willing 10
|Sny at ali are displaying considerable
ton. They are picking out
ecial securities that have been reia~
x-e,y TOO low. While the great mass
~ stockx Is far under its proper leFel
ES .rnsred with other things in the
matted States, and with earnings pres
IN and prospective, there are some
f2rurffies that are absurdly cheap
her compared with others seiii0S
Faonxsiae cf them. This fact accounts
52My the violent movements in recent
iarr of such stocks as American can,
tss1rnr stores and United States steel.
d The market Just now Is largely
after of money supply. ConserVa-
<1we leaders. are in charge. and they
nof want to get the public INTO
&N market yet to such an extent as
interfere with productive business
3Nferprises. Great volumes OF money
~ needed just now in moving the
Prp. and in filling orders received by
E5.nsafanfurius concerns. The con-
aiming public is short OF supphes'
Avfng purchased from hand 10
Imath. and now that they see "a big
KDrovement coming in all directions
|Skex are falling over one another try
m to get their orders at the heau
she list. The result of this is that
Dmiums are paid in nearly an
ndes The premiums in the steer
ride alone amount To a materlai IN
teaee or prices. in some paf,'caiaf
nterprises there Is an absolute m
Sfiity OF the producers to keep up
nth the demand. TINS Is ihe case
rrrard 10 the Can company. al
Euurh It made several hundred mil
~ cans in anticipation OF great
snniv and had them stored in Xari-
RI narts Of the country.
Heayy Export Movement
1z<.ca use of the surplus crop produc-
nn n America and the deficiency of
Ss.ns in Europe, there will be the
@awfext export movement ever
#xnwn This will force the Bank OIL
wannd and the Bank OF France 10
~ ne discount rates to provide
s,ssey for financing these crops.
r.artcans should be prepared for vio-
s~x aarunciations In the near future
Wall street. coming from those
;a~iomaniacs who imagine that every
VIC OF the discount rates by the
Srk ~ England is a rebuke TO Wall
reet specuiators. The Bank or ENG
@A uil, be compelled To advance Its
1srrount rate 10 provide for the neces-
2sses ~ the English import business
~ higher money rates go in Europe
sSvsl America, the higher stocks VIII
because money rates thls year
snn big business
3ssrhara heins nothing in the money
f,safion to worry about, some people
~ irving TO get excited over the de-
nfon that viii be handed Down ps
~ E,ureme court in october or NO
suber. These decisions Win he OF es-
9snne irnportance. All of them nave
S~r fully argued Among them Is
ID Involving the rights of the Lnior
1Srtftr. to purchase control of South
IN Pacific. The Minnesnta rate cases
mn also be decided, ana ihefe aft
enfy-eight other cases OF similar
iaracter. but it is believed that tht
tnnesota decision will be the ruilht
In that case the United States
4tr4 az Minnesota authorized th'
rNat Northern railroad 10 earn al
Siach as per cent on the capital IN
ted and in order to learn no"
Ssrh that might be, the court nat
appraisal made of the property
k3rh showed that the company
FATTY undercapitalized.
waiting For Decisions.
1he coal cases are the ones abou
lhich wall Street in mos excited
keaa involve. among other things
~ important points. One Is th'
tha E-efs rtIre base the SuS'