The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-10-11

EEL Is A SURPRISE
THOMAS C. sHoTwELl..

Sx THOMAS G. sHoTWELL.
EWg YORK. Oct. l0.--Announoe-
that the Turkish government
bNch unable 10 obtain a war loan
10, Gee. coo from ]. L. Morgan q
Z and that untitled orders on the
~ III the steel corporation had
Sonsexi during the month NJ Sep
ker TO sss,132 tons. caused the
" market of the whole world to
f. stronger tone today. In Wall
5St many net gains were recorded
Esevfrai new high records We're es-
I1shes In London American stocks
y strong, although Balkans were
I1ned 10 slump again. Servian
~ dropped eight points, and Brit
Iconspls were heavy, but rails were
Mr. and Americans stood high at
end of the day Even Berlin.
M and Vienna were firm at the
In view OF the fact thst Tur-
h seems unable TO finance a war
M III Europe or America. tn. Bal
#sitimtion may now he considered
fAf One way SO far AS the present
y IN the stock market is con-
ned. 1t will bob up again, just as
Morocco affair did. but Will make
Serious trouble now or in the inn
Hate future,
~ fact that Turkey had applied
L. &
wn Il but few persons on Wed
Nv Aight The announcement ex-
lively made in the dispatches of
lntarnational News Service there
came to the Street as genuine
brises and IL explains many pc
M FEATURES Of the market of the
rioas day Turkey needs money
Epeace as welt as for war out white
1rican bankers have offered to
by any amount needed for peace.
~ is not "a dollar on this side Of
[AtiantIc for warfare.
6uuid Turkey meet the conditions
down by Morgan e Go. and make
he with Italy and end hosiilities in
kHalka as, the -$59.4op 600 can, cas-
BE spared.
knrprise for very few persons In
Street expected the increase TO
Emore than 1000 tons. When
rfckErE announced that the in
IAe was 3sS.132 tons. ii was gem
gly Supposed that a mistake had
II made and the market halted
waiting for a correction.
never, when the figures We're re-
led and shown to be correct. there
an immediate advance. Steel
xed up a point and American Can
y two points to the highest price
RECORD. Reading went to LIT "a.
MI iS record for this movement,
I1a Inspiration and National Enam-
n also made records on the add
Not Since June 80. 1907, has the
M corporation reported such a
70 volume of untitled orders as are
n on It's books. orders were as
~ as at present only from he
uber 81, 1905, To June 80, 1907, In
|8tYe Orders AT present are really
greatest on record because. dur
/ the other period when the total OF
fiffed business was above 5000. 900
fe Included, whereas the present
1ers are those with the public
NJ. IL In safe To say that the pres
volume Of untitled orders Is 10
/. cent greater than was ever be-
NJ on the books Of the corpora
Money went To : ie per cent for
1rwals. but. as the great export
brement Of American crops Will
fnfsh all the money needed, from
" on, the rate is not matter of
\ importance In fact. if money
re& should rise. stocks Will advance
m faster A money panic il i'm
Isibie. and nothing more than fair
Sxtiff rates need he expected be
EN- now and the first of the year.
NESTING hotss ana General Electric
attracting attention recently be
we OF their large earnings. Gen
q Electric is expected 10 snow
krly Id per cent earned on It's stock
& the year 1912. which compares
"A less than 4 per cent last year
VIII earn three times
/ present dividend rate. An ia
lase Of the Westinghouse dividend
III be expected before long
There has been some selling re-
Rtiy by the small stock holders of
Indard Oil The old stock which
\ sold about a month ago at tf.40,
i been traded in at 1928. and was
bred today at 1880, This is but
moderate reaction when IL IS re
Hsbered that within two years the
nls has advanced from under 500.
b STOCK that Is being sold is going
b the hands Of strong interests.
Il II now reported that the Penn
vanis railroad company will dis
" of Lis Baltimore and Ohio stock,
sh9ne 40 get cash to Use IN ths real
xts Improvements Ia and around
great terminal on Thivty-fOurth
ket, New york
Shares Sold
~ r = :. .