The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-04-19
fIIC DISASTER
CAUSE Of SLACK
xe1sslxe or GREAT IMPORTANCE
ArTEArrED IN STOCK MAR
xEr ny TRADERS.
OPENING WAS STRONG
+ sTEEI ROSE \ POINT AND ALL u.s.
SUES SHOWED MATERIAL AD-
VANCE OYER CLOSING OF
PREVIOUS DAY.
OPENING WAS STRONG
nv THOMAS {. sHorwELl..

the depression OF mind caused by
further realization Of the Titanic dis
.lster that nothing of !mp.>.<nce was
attempted in the stock market to-
day. The opening was strong with
new high records in New YORK Cen
trial. Bethlehem Steel. Beet Sugar
and Wabash 4 per cent. bonds. Steel
rose point and all issues showed
material advances over the closing
of the previous day. The trading was
light and prices gradually worked Il
average OF nearly a point lower from
cheer inertia There was no further
attempt 10 raid the market for the
big people are in the humor to pun
ish severely any person who might at
tempt to make money out OF the great
calamity.
1t il possible that the indisposition
10 sell as well as to buy let the high
records in cotton and grain pass with
out as much attention as the stock
market would otherwise have paid to
th1m. While the new high prices o:
today arc the result more of technical
conditions In the exchanges than OF
real fear for the crops the showing
was Impressive and might have been
Used 10 advantage in raid on stocks.
Traders are overlooking the fact that
ii record cotton crop WAS produced
In a year that almost exactly dupii-
Gated this year for rains and floods.
Jay Gould always made his big cam
paigns on the long side of the mar
ket alter just such springs as this.
Advance Made.
Amalagamated directors advanced
the dividend rate per cent COM
pared with . per cent. for several
90 ltanV trffv mt n
II had been hoped the rate would be
made per cent. The stock declined
one-haif a point on the announce
ment. Copper men say this Is not the
last Increase of the year and they
expect larger payment next quar-
ter. The company Is earning large
surplus after the dividend. This ir-
crease IL the first Of series OF which
Utah Copper will be conspicuous. The
copper stocks listed in Boston wers
active and several material advances
were recorded.
New York Central's advance was
the result of accumulation Of the
stock that has been going on for
year or more since the completion of
the New York Terminal and the re-
organization Of the system have been
definitely settled The terminal will
Z nc AGtA -SuBpuItluk anu thp ICOSBaHh-
zation when completed will make New
York Central an Garner. according 10
cfficfal reports, OF above II per cent.
on It's total nutsta nding stock.
Report Caused Rise.
The advance in Steel shares came
ahead Of a report that orders for
about $4,000 tons OF rails had been
received and would be officially an
nounced In few days. Bethlehem
Eteels advance was accompa MED with
reports that the company would do
some new financing. Official denial
was made OF the report that the divi-
dends would be begun on the pre-
ferred stock. President Schwab Is
discouraging purchases OF the stock
on this advance.
The advance in Wabash As was due
TO the growing belief that since the
addition OF y. NJ. Baruch to the reor-
sanitation committee the bondholders
will get better deal
Hartman Heavy.
Heayiness of the Hartman shares
was commented on. This was not
strange in view of the situation in
Mexico. War with Mexico would in
xoIye the Southern Pacific. and while
1t would ultimately be an argument
for much higher prices for the stock
might mean temporary losses. The
Southern Pacific has more than 1.&00
miles in Mexico. Canadian Ppific
stock continued to rejoice in the per-
sistency of Congress in attempting to
shut out American railroad company
ships out Of the Panama Canal In
favor Of sl<os Of the Canadian rail-
roads. Incidentally earnings OF the
Canadian roads are growing rapidly.
and there Is talk of more stock issues
by Canadian Pacific.
NEW YORK. April 1s.--Numbcr
Of shares sold today. 44S,451; year
ago. 753.605.
Par value Of bonds sold today, 3d.
10000: year ago. $2.O39.0O0.