The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-04-30

Nv THOMAS G. sHoTWEIL.

SH% NEW YORK, Aprii 1S.-NtSatNnA
Nsas leader in the stock market again
A4edRy. selling up between low and
ltgh mere than five points and es-
II 4shlishsng Itself at the highest price
SJa the history of the company. The
s1emarkabie thing about this advance
F1h Reading was that 1t did not alarm
syhN rest of the market. Under or
ss1afnEry circumstances such a rise
1MDuld have started rumors OF cor
sfer The advance is admitted To he
Snn merit. There are probably shorts
IN the Reading market To the extent
S0f 5000 shares, but they knew what
they were doing and nobody IS vast
Ing any sympathy on them NOW ina,
Itaey are losing their money.
1 n conservative bankers estimate
Reading worth soc. The company is
going To build q new station In Jer-
eey CITY. To cost several million dol
tars. Put /: has SUCH a large reserve
that this will not affect its investment
standing. Officials deny that segre-
Eaticn ~ proposed for the immediate
future, but The tape says that there
syiil he segregation. " will come
kenuetime this year. at the latest, and
Nights worth $50 or $40 share Will
~ given to Reading stockholders be-
zforc many months. The action OF
sIaekawanna furnishes a precedent
fsr Reading stockholders.
American Can came back with a
syift rebound when some traders be-
gan taking profits with the idea or
Breaking it. They got 1t down 10
~ IA but It was back to 80 Ia be
fore they could recover any stock,
Can. like Reading. IL rising. not be-
scause OF manipulation, but because
r., Inc lf
the stocks have laid them away for
4 long null. There will ne no Read
IN. or Can from inside sources for n
rsar or two and persons who GO short
~ these stocks do so with their eyes
spen. National biscuit made new
high record.
General Market Quiet.
The general market was quiet most
nf the day. In the morning when
Rnadng was at Its low price. every
thing else was heavy The street is
1 certain that the steel earnings for the
FIRST Quarter of this year will not run
above $4,000 oaa. A statement Of
that size has been more than discount
ed There is short interest IN the
market for Steel sufficient 10 give IT
sharp advance should the earnings
be much above 0,0o0. 1000. as there
Ne. These earnings will not be pub
lsshei until after > o'clock tomorrow
afternoon. but the strength Of the
stock In the. last hour today suggested
that strong people were willing TO
take ii al these prices, II the buyers
A. Steel like those in Reading. are
the sti onEest in the Street.
Ir the copper stocks there Is an
other short interest entrapped, par
! ffcuiariy in Anaiagamated. When
fhe stock was put on per cent;
dt-idend basis, many persons were
disappointed. Besides, II became
known about that time that the Ana
eonda had not quite earned it's divi-
dend for the calendar year OF 1911.
hui the traders overlooked the fact
that copper did not rise to profitable
prices until the end OF the year. and
that all of 1912 business has been
Done on n basis that gives Amalaga
nafeu equities in the Anaconda earn
fpgs double those OF last year. Utah
CT pper has been held back until
Guggenhcim Exploration stock could
be Increased and listed on the New
York Stock Exchange. The cam
paign IN Guggenheim Exploration
will he based on the advancing prices
~ Utah Copper. which will be In
evidence every day when the stock il
once listed.
Cigar Stores Bought.
Another stock that Is being pur-
chased quietly by insiders is United
Cigar stores The company has just
OrganiZed a real estate company with
$40, 900, 900 capital. the shares oeinG
euual In number with those OF the
Cigar Stores Company. and all own
"a ny X, The real estate company
win ISSUE 500, 600. 600 Of bonds but
only as real estate Is purchased, and
ffen the bond issue will he equal te
New York Money.
NEW YORK. April 2s.--Money OF
cali or the stock exchange today
opened at rs per cent: highest
q: lowest 23-4: closing. 2 rs pei
cent. Most of the days loans were
made at rs per cent.
Time money market opened dull
and unchanged. with rates Ia pei
cent. for sixty days; IA as 1-2 pei
cent. for three and four months: and
@1l-2 per cent. for five and 81,
months.
Commercial paper Is quiet and un'
changed at l-4m4 1-2 per cent? fol
The best names. London discounts
Ais, of is. Paris discounts. 8 pei
cent. unchanged. Berlin discounts
33-4 per cent, unchanged.