The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-05-11
Standard ISSUES ADVANCE WITH
SOME srEeIsLTtEs.
FACT THAT ILLINOIS MAKES LAHGE
PURCHASE HAS Ro0@Tt>ts
EFFECT o> PRICES
ALL ALONG
nv THoM G. SHoTMElI..

buuyant al the close in Wall street to-
saax- mIth new high records Ia some
specialties and with the standard is
sues advancing. Business conditions
that have been improving Tor seNeral !
months without thu slightest hesita-
ton. are at last becoming to" strong
TO he ignored, Greatest CROPS in the
histor; of America. greatest tonnage
~ steel ever known. and at the lowest /
prices, greatest volume OF money and /
credit ready to- do business and the
greatest political crisis developed in a
century, are The incentives for buying
stocks All these great things Will be
disposed of in true American style and
the politicians who imagine they are
soaring big business are only fooling
themselves.
Firsi OF the developments of today
to start lie market upward WAS the
fact that Illinois Central has placed
an order for 2;9e8 freight ears. he
cause IL will be unable to handle the
record hYsQ KING crops in its territory
this wear There have been reports
of the company being In the market
for cars. bat actual placing of the
order was a surprise. In this con
nect5on Il became known that all the
rfiaIFOif}% arr oINtIItA equipment ~ Il
record rate hat not reporting he or
3ers Thanks 80 the low prices OF
steel they are getting from twenty to
thirty per cent more for their money
4n5n af any other thne In the Last
ten wears The price Of steel IL equal
TO an increase of freight rates.
Has Untitled Orders.
Then came announcement by the
Steei Corporation that its untitled or
-. "A y,,g h.,
month of April. although operating at
practically fun capacity. Prices are
hardening - trifIe, but not enough 10
destroy the heavy tonnage of steel out
put as buli argument on the gen
eral stock market. The Carnegie com
pany has advanced prices fer material
delivered oct Of warehouses, which is
in reality premium for immediate
delivery The great strong feature of
the situation rs that there Is no pros.
f-.-.-4- IT tt44ft-+t tyf an atfvarTre TT Erert
prices when one considers the fact
that prices of steel are an average OF
two dollars ton under those obtained
bY German mills. the $9urtlty of
being scared at needless tariff reform
win become clear
Grain Shsn> Released.
Release Of 100 grain laden ships
from the Bosphorous. where they had
been tied up because of the war, broke
wheal a cent q bushel The Tear that
England viii intervene in favor OF
Turkey is not based an sound rea-
coming. for, now that Canada is able
TO supply England with whent. Eng
land has no interest In keeping the
BoSnhorails cpeneu~ EnslADde has heen
accused Of barbarism in protecting
thu Turk but she was not doing
that; she was merely Keeping Turkey
IN the Bosphorous az means of
holding open that waterway to the
wheat fields Of Russia. The Canadian
fal'iners ar. blowing Turkey off the
mar.
Reasons for yfe advance If today
Fare we'll understood by readers at This
column. Both common and preferred
Issues of American Gan were recore.
breakers. The Street is beginning 10
Imagine some c@ry surprises III this
direction. bat the Whole story has
been told in this column beet Sugar
went with rush 20 new hign rec
ord. AZ 3-4 Snlclters. CoEper
ST7II7TGS M TQ1AeC0 stocks were
strong on the exchange and on the
+. sessTa. Even Erie t0van De.Ff nearly u
point Sugar. National Biscuit Rag
and Paper and International Paper
were among speci4lties that showed
strength Panhandle w.s strong. and
II Is said ar important rew interest
has become associated with the com
PAM The reason for The strength of
International Paper Is the One bust
nnss outlook. with good present earn
ings. The only drawback Is tho
threat ri .. strike. hut daily confer
ences are d. ing held with the hope
~ aperfing an open ught.
Illinois Central Receivers.
illino{s Central recovered "a tritie
TIL raiders are worried bit owe,