The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-11-08
MARKET CONTINUES
ITS UPWARD MARCH
ADyANCE SURPRISE To FRO
FEsSIoNALs. WHO EXPECTED
A DECLINE.
AMERICAN CAN SOLID
GTROELUM STOCKS ARE ALSO
gTR0NG--sIPREME COURT DE-
CIsIoy EXPECTED ON
MONDAY.
AMERICAN CAN SOLID
" THOMAS c. sHoTwELL.

NEW YORK. Nov. 7.-Conttnuat!on
the advance in the stock market was
surprise today to professional trad
-. who expected, and still expect,
Gsne reaction following the violent
Movement OF Wednesday The profess
NmMIs overlooked the fact that what.
Ier bad effect may follow, the Ameri-
n election has been fully discounted
IL the decline In the market forced by
" European situation. Furthermore,
Se defeat of Roosevelt has inspired
wnfldence in Europe. and there is re
ufrhasing of some investment sscuri-
6 by foreigners as a result.
The only stocks that acted badly
4re Cotton Oil add Beet Sugar. Spe-
He reasons were at hand In most
Instances In regard to Beet Sugar II
the bad earnings that Is causing the
6cllne, and tariff reform has little
do with the matter. A weak specu7
2xfve situation is being rapidly cor
&cted by the market break in the
1oCk American Cotton OIL broke
om b7 liz to 81 IL on announce
&asf that dividends on the common
ork would be discontinued. The
15.pany has already paid three per
mi. In the year 1912. although the
fxIfIend was barely earned. Directors
announce that while earnings are gooo.
ley believe the company should keep
- cash. During the past year there
- been expended for additions to the
eoperties the sum Of $e70.435. in addi-
Ion to the s5s7.7o5 expended for
naintenance. Prosperity OF the far-
ere should result in better business
Ar the company.
[# American Can Advances.
TAX of tariff reform caused an 40
Sni1ce OF American Can stock. AS TINS
osupany buys all its raw material,
nv reduction In tariff Will naturally
2a1able il to get this material at lower
fices. The use of canned goods ana
such other articles as FURNISH tne
Nrpme for the American Can company
my win increase with tho prosperity
Aha country, and will increas even
Sps,ld prosperity be interfered with,
IA the ueople be forced to economlze.
eAerefore. the way ahead seems clear
n the company. and the buying OF
~ stock IA OF the most Comment
haracter 40.
Coed buying was also seen IN 'ns
1e4roIeum stocks-both Mexican ana
californian. The latter announced that
n October 1t earned s26o,ooo, Whlch
y III the rate of ten per cent on ootn
Ssa.ses o. stocks. Earnings OF Mexi-
56an Petroleum are also increasing
npidly.
Further evidence of prosperity was
In In the announcement by the
ears- Roebuck company, that on Mob
v-fhe concern Feeeired Al, 900 OK
- averaging Sill each, making the
tssness for that day S52s, 900, which
within few dollars of the greatest
ay.s business Of the company. me
mex advanced seven points on TINS
announcement.
n>x;starx
I awyers who keep in close touch with
~ supreme court were telling their
s1ends that certain preparations being
s5ade In the Offices Of the court leo 1
Raon IN believe that next Monday
n,rId see some of the important de-
tom handed down. They had not
fSrnecfed the decisions In the Mime
- rate case until January. but are
Aangtnz their minds. and would not
y surprised to see the anthracite the
lnion Pacific and the Minnesota rate
w decisions all handed down next
mere ara runors that Union Pacific |
vi New york Central will. In the near |
Sfure. bring out new issues OF i'm
,rfance. Central stock has been &C
ssniiated by one Of the strongest !
1pla ever at work in II, and Union |
NeffiC shares also show strength Both
these issues Will be among the /
ders before many days. The big
11rDad deal 10 which reference mas
css made on several occasions re-
ntiy is progressing. and VIII FURNISH
asons for activity and strength In
e stock market.
Number Of shares sold today. 1885, !
N. year age. t.s2G,5 st.
Tar yhlu. OF bonds sold today, w. |
n 900. a year ago. s5.4es.000.