The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-03-30
LEADS N
STOCK ADVANCE
MINERS AHEAD IN srrrLs or
COAL EXPECT To ENJOY
SUSPENSION.
SOUTHERN PACIFIC UP
CAMPAIGN OK FOR DISTRIBUTING
SHARE> At MUCH BETTER
PRICES THAN ARE NOW
RULING.
SOUTHERN PACIFIC UP
nv THOMAS {. sHoTwtLL.


NEW YORK. March 2s---tnder
leadership of the coppers, the Har-
,iman issues. Canadian Pacific and
Eric. the stock market righted itself
.eoiay. and closed with many net
advances Professionals who had
sold short. hurried 80 cover their
contracts, and many of the outside
puoiic- who had been waiting for
reaction, made purchases. The lose
was strong and active, with every
promise of a continuance of the az
vance Tomorrow.
Suspension of work IN tho anthr1~
cite mines il now generally expected.
lsat IL will not he a strike, merely "a
suspension. such rs has beer err
joyed before by the miners, while
waiting for the usual agreement to
lie signed.
Neither the men nor the opera
tors want n strike. The companies
have an abundance Of coal mined
ahead. Most Of the important CON
Sasners have supplies for from two
to three weeks at their factories.
This. with what the operators MY.
IN storage, viii run the country
without the slightest Inconvenience
for c month or six weeks.
The operators will not advance
rr7ces SO much as cent TON rs
long as there is ton left to deliver.
They are willing to grant increase of
wages, but they will not agree to col
Iect union dues as demanded by
= tfic unions, ana rnttrcr than DO that
they will let the suspension develop
into a strike.
The union leaders know they cam
not enforce such an agreement. and
will not insist upon IL, although they
may make n few theatrical plays
along that line.
Even IL there should be 81 s-rlk.,
which is remote possibility. IL
would no doubt be stopped by tn.
government.
Individuals are not permitted TO
fight In such a way as to disturb the
public peace. and enlightened pub
lie sentiment will no longer tolerate
such disputes between capital and
labor as infiiet great loss an the 'puo-
lie.
Besides, since the operators are
willing TO grant an increase of wages,
the only possible point in dispute
will be as to whether the unions
shall be permitted to conspire to
monopolize the business of mining
coal.
Sherman Law at Discount.
since the mines are all located In
the State OF Pennsylvania. the Sher-
man law cannot reach them, and
Attorney General Wickersham cam
not act against the conspirators ar
ter the conspiracy has begun 10 in
terfere with business in other States
so coal strike can be oyerlooke ed
by stock traders. except as pos
sfble excuse for IA reaction. And
there are hundreds of patriots who
missed the band wagon and are anx-
1ous to get aboard should a reaction
FURNISH the opportunity.
For specific movements of today
1here We're no new reasons--~rnerely
extensions of old reasons The Ca
madam Pacific, for instance, went up
I'VE points ON announcement of the.
earnings for February. These show
nm Increase of about so per cent, in
tue net. as compared with those of
last year. The stock also feels the
influence Of the movement of farmers
from the United States to Canada
with the subsequent increase of hand
prices.
Southern Pacific Advance.
southern Pacitics advance was due
to the same set OF facts that Is maxi
s''h @s'NR ActaHh ana ALitIl8tn HOOK
up. The agricultural outlook IL i'm
proving daily in all the sections serv-
ed by the roads.
California has been suffering from
dry weather. but recent rains have
corrected that situation. The Rock
island territory Is especially In fine
shape.
Erie moved up to within n frac-
ZION of the recen. high record. The
stock has been made to look heavy
me last few days TO discourage the
little people who tried to follow the
known operations of the pool.
Erie is safe to purchase only If
one does IL with the undarsta nding
that he is not going to be influenced
by fluctuations
The pool Is In SO deep ii cannot
Anord To let go. and must advance
the stock gradually, even IL the pool
should prove TO be purely speculative
u could not sell enough stock from
the pgssent lsgel To- .qlak4, tha ef<,sss
worth making d trial
Furthermore. 1t has the, good
wishes, II not the actual active SUP
port, of the most important interests
OF the Street, and such pools always
points In Erie would be much more
surprising than an advance of that
extent
Seek High Prices.
The feeling Is widespread that this
campaign Is real campaign for ma
ttertaJly higher priess4 and with fire
prospects 81 distributing stocks at
much better prices than now are rul-
ing.
Such shares as Erie. American Can,
Bethlehem Steel. Corn Products, and
few OF the coppers. which have been
worked into strong speculative post
tions. as the result of years of In
activity. are being picked UP by in
siders, even on the recent advances
The Mercantile Marine shares are
gradually working into position In
public favor. but they are too cheap
10 buy now
In the Street. Number Of shares
sold today. s34.ss1; a year ago, $685.
OBJ
Par value Of bonds sold today. So
sos. 600, year ago, sI.90G.0 0o.
s.5N.F -
New York Money Market.