The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-04-17
MARKETS make 4
BRISK RECOVERY
81 MONEY LOSS IN WRECK OF TITANIC
WILL NOT HAVE ANY EFFECT
ON PRICES.
= G'rxre .
OPENING WAS STEADY
CnOP CONDITION GIVEN As CAUSE
OF CONFIDENCE AND POLL
TICS RELOCATED TO
SECOND PLACE
OPENING WAS STEADY
BY THOMAS c. sHoTWELL.


NEW YORK. April ls.--After a SEES
sion OF considerable irresularity the
stock market made brisk recovery
In the last hour of trading. II closed
strong and active about a point above
the low figures. and nearly that much
under the final prices of the previous
day. The fact that net losses We're
shown at the close was not So i'm
portant as the fact that the buying
was for the strongest interests, Ii
wAs evident from the way the mar
ket acted that the upward movement
Is not ended.
Aside from the necessity Of some
further reaction the market was in
fauenccd most by the Mexican affair.
The belief is growing that Japan is
fanenting trouble in Mexico in the
hone OF drawing the United states
into n struggle for supremacy I'm the
Pacific before the Panama canal is
completed. The fishing concession
granted 10 Japanese along the Paci-
fc coast OF Mexico is regarded as
q fish story.
Wreck Causes Depression.
The loss of life on the Titanic
came as "a shock to the financial dis
trict. Almost every banker OF i'm
portance lost one or more friends In
the disaster. and there was a feeling
of depression Of which the bear trad
ers were quick to sake advantage.
The money loss is not worth consid-
ering as market influence. II is
not likely either, that there VIII be
any speedy sales for the estates OF
the drowned men. Some CONFUSION
may result for a few days in the for
sign exchange market nut as mar
ket influence the Titanic may ne dis
missed II II has any influence II
will be favorable because It can 90
nothing more than brighten tourists.
IT would ha a great thing II Aneri-
cans could be frightened into spend
ing more Of their vacation millions
in America The See America first
movement should grow materially
with additions To railroad earnings
from tourist travel. influence OF the
disaster on the international Mer-
camille Marine can he but temporarily
for with the Panama canal soon open
Ing the boom in shipping will wipe
ont all memory Of the loss in couple
Of years
May Sail Liners in Pairs.
The disaster will probably cause the
big rhippiny companies TO consider
some plan such az sailing liners in
pairs. go that one rrs~' never he out
Of helping distance.
Opening Steady.
Opening OF the market was steady
with some high prices. New lork
Central reached "A now high record by
crossing 1ls. and American Can
reached up TO SS Is. new record.
Amalca,nated Copper went a point
above the price OF Monday. 1t was
rot long before the heavy profession
al selling began to make an impress
sion. Can declined to 81 rs. and
Central TO III. Steel FELL rapidly two
points. and Arnalgamated more than
Two. The market became duh at the
lev figures. and the first activity was
the signal for the advance. conn
dence did not seem to be impaired
The crop situation was given as Inc
cause Of the confidence and politics
vas assigned second place. The
foreigners. however. were reported
late in the day az worried over
American Soiitics with a disposition
growing to sell. The sharp rise in
cotton was caused largely by tive
heavy rains in the Eastern belt With
threats OF frost in Texas and Okla
horna-
Another helpful influence was fur
Their evidence supporting the state
Y,ents made In this column OF an
miners aud the operators granting an
advance of wages. but Withholding
recognition Of the union. The agree
nert TO be made In few days be-
tween the railroads and the iocomo-
tive engineers Is expected to result In
advance OF freigh, rates, and that also
helped the list.
Copper Shares Strong.
Copper shares were strong late ir
the day, when II became known thai
the Amalga mated directors had de-
rided TO advance the dividend rate
to per cent Utah Copper worked
higher on dividend expectations thar
are justified by the earnings. Cop
per metal has genuine market a.
six,eeu cents pound. or about =
cent higher than the level agreed
upon las. summer when the copper
trust was formed In Europe. This
mines will increase the output as fas
Il A. posSahla To bring fha price dows
half a cent At that level the COP
per conpa MES will be making profits
tustifying much larger dividends and
long campaign toward higher
prices IN expected In the shares OF al
producers
Nfnrconi Active.
Marconi shares that have been
StfH&lTk ulSSTdN ~ itae stoNh
ket eyer since they made their ap-
pearance are active again. Theii
surprising advance the last few day,
(. raDEesents an attempt TO make ponee
out OF the Titanic disaster. The stock
that was selling at 81 a share las
August sold today al sl.2o. Nothing
Of gAat importance financially ha,
happened in the meantime. This
stockholders, who have always beer
Of the class that buys rainhows. hop
ing to find the pot Of gold, has beer
kept from cashing in the shares.
Number Of shares Sold.
Number Of shares sold today. ISL.
3ss; year ago. 552,137.
Par value Of bonds sold today, 81.
III .eet. year ago, s3.tze. too.
New York Money
NEW YORK. April 1s.--Money OF
call on the stock exchange toda,