The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-05-18
BETTER TONE N
STOCK MARKET
Material ADVANCES IN
PRICES.
MAY BE BULLCAMPAIGN
nj. OPERATORS LOOK ron CON-
rlNtED UPWARD TREND WITH
OCCASIONAL uREsKs TO
SCARE: OUT SMALL FRY.


NEW YORK, May 1.-THE recov-
cry in stocks ,hss took place today
WAS important. more because Of the
Improvement OF sentiment than be-
cause Of the advance of prices. The
price advances were material. rang
Ing more than a point in leading Is
sEeS, nuf sentiment which had been
Respondent the day before, was hope
faii al the close today. In many quar-
tors this confidence extended 40 far
az to lead 10 expressions that new
high records would be made within
IL few days
These records were rot talked Of
10 small Traders f,4st }sa-ais- Aig
operators. They said they expected
10 see the market advance throughout
the summer. with frequent breaks like
that Of Thursday to scare out little
traders They speak of the possible
election Of Roosevelt as n reason for
expecting the biggest bull campaign
that Wall Street has reen IN ten
years. These operators believe that
Roosevelt Will work for repeal of the
sherman antitrust law. and that he
viii. IL elected. stop prosecuting the
trusts, nasing his action on the proved
fact THAT prosecution only seems TO
nelp them. AS a matter of fact this
is the only honest view to take of tho
fnent has been a silent partner in all
the law-breaking that mas been done
by the big corporations.
Easy money, record large tonnage
for the steel mills. q strong copper
metal market, certainty of big crops,
speedy settlement of the dispute be-
tseen the miners and the anthracite
operators. and assurance OF early
peace in Mexico. were other reasons
nw fh.a raYr gF he aaY-tyn
Nobody paid much attention To spe-
cifie stocks until the afternoon. when
II became evident that the decline
had been completely checked. and the
market turned back toward higher
levels. Although copper metal sold
at Ia Ia cents pound for the first
time since the great panic. the cop
per shares didn't show ar much vi
tally as other stocks. They barely
held their own,- and leading opera
tors We're suspected of liquidating
Them. II is probable that there is
liquidation on the part of many share
holders who have been holding the
stocks Ter years waiting for "a chance
TO get out, but the great operators
are not done with the copper share
market by any means. nor win they
be until they make another attempt
10 put Amalgamated across par
Daniel @. Reds personal affairs
seemed to worry the Street a greeA
deal, and later In fine afternoon one of
The news agencies made. an authori-
tatiVe announcement that Mr.. Reid is
mot To sail for Europe, until the end
VI ! rTrTf-.- fff~ confirms the report 81
ready published in this column. The
bear tfeaders. having nothing CUB
--ktantlll IL hack M their position, hap4.
been Eoisily sending one financier AT
ter another 10 Europe in the hope of
frightening out the sr1a. traders
The big people VIII AT remain In the
~ ss---t-ss HI ii-hotft prrsidentiat Caudt-
dates are officially named, and their
action after that will depend largely
upon the sitaution at that time. They
see nc reason for a bear market in
any event. and the only thing they
ARE waiting for IL TO know jusr how
much steam II will be advisable TO
aise in the bun market.
Lehtgh Valley and Can acted TODAY
as though their chief steckholtler
meant what he said in regard TO
h1-- the ularket. Tha-cail.s
paign that the First National hank
: FssFt++af4 II carrying on is hasrti On OK.
pectations OF big crops. peace III the
Ia bar world, ana fneaaous tonnage
In All efasses Of business
Brooklyn Rapid Transit sold AT So,
thereby establishing the highest rec
ord touched in ten years The COM
pany IS earning more than 9 per eenr
over its dividend requirements, and
settlement OF litigation in It's favor.
clears the WAY for a dividend increase
Wabash bonds declined about two
points. following publication Of re-
celvers report Of earnings. Texas on.
which had not been above par for
months untii the day before yesterday.
when il closed at I02. rose "a
points today. and closed at the high
=, record. This Is due 70 an advance
,g IN h. saf- tf G+4sfcl ems tilt
crease If price going into net pro-
fits of tho company to me extent of
more than half a million dollars a
year Great Northern Ore was an
other strong feature, going up to ~.
Illinois Central was loaned nat
thereby proving the existence OF n
short interest. II has been easy to sell
this stock for amount OF traders, but
one of the resl stock holders wanted
To get ont. SO that the shorts have NOS.
Vel cashed in nor, are they liable TO
make much money, since the direc-
tors, announce that the whole divi-
--d@Ha vii iee paid Inspiration Conner
was dealt in on the board for the rst
fine. making a fractional advance.