The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-04-26
IIN|sM STRONG
IN WALL STREET
the MARKET CELEBRATES An
NoUNceMENr or STRIKE SET.
TIEMENr WITH RECORDS.
y SUGAR GOES kITINC
Z COPPER METAL so STRONG AND
EARNINGS so LARGE INSIDERS
CANNOT GET RIO or
STOCK.
SUGAR GOES kITINC
NJ THOMAS G. suoTMELL.

The weather news WAS s"ou ~
crop prospects were frightened IN ah
usrfs OF the country. Announcements
was made that terms of settlement
had been agreed upon between e"e
anthracite operators and the miners
that would give the men an adVahc.
~ N nar cent in wages and a four
1ear contract The stock market cei-
..nrs,teu with about q ao5en new hish
ressattis and THESE RECORDS were IN
sgltn issues as lett no doubt as 10 tue
stability Of the BANKING interests pe-
nind them. Among the stocks max
sux these records were New 1ork
Central, Lehigh ' alley and heaofn9,
winch sold higher than for seVefai
years, Beet Sugar. American Can anu
United states Rubber. which estap-
aished absolutely new high prices,
Meaican Pea N copies Gas ana
Wabash bonds
Perhaps the most excitement was
caused hy the advance in Peopie Gas
and Can The Gas stock opened about
the ievc. of the previous day ana
showed ITO sign of activity until the
decision vas handed down in chi
cago authorizing the company 10
Il charge eighty cents for gas. The CITY
had forced the price down to seven
sy-fixe. Another appeal will be taken,
tails time by the city, but TINS hn3t
decision cannot be had for two years
aao in tn. meantime the company
can charge the additional price me
stock advanced more than nVe points
and closed near the top.
In Can there was no activity OF con-
sequence until the afternoon, when
the stock suddenly movsd up from 3s
to 50 l.. ON vcry heavy transactions.
1t Is becoming apparent that prac-
ticaliy all the Can stock has been
locked up In pursuance of the agree
r,,.nt OF insiders TO hold for several
years Rubber issues also advanced,
the common stock going fhre points
ssiwher. The explanation of this move
given in this column several days
Az, in a statement that the report to
hi MADE public at the annual meet
ia.l III the future Will show earnings
on the common stock of above IL per
cent The company is producing L.
600 automobiles tires day in Its new
factory and Is making a profit of IS
each, or $1,000 day. Thus the
company has an assured income of
si.5eo,ooo net in addition to every
thing that 1t had last year. Its gen
eral business also Is good.
Beet Sugar Goes kittng.
Beet Sugar made high record on
preliminary estimates of profits fof
the year, which shows l 3 liz per cent
earned on the common stock, The
company is paying only per cent,
and these earnings assure "A contlnn.
alton Of that dividend at least, If not
something extra. 1t is understood
10 be the policy OF the board to main
tain the present dividend. as they
believe the stock would sell better
with a certainty of per cent. than
with Il possible extra
Mexican Petroleum. which was
among the record breakers will not
he affected by the disturbances In
Mexico. In fast. much OF the buliish
sentiment in this security Is based on
confidence among the insiders that
President Madero Will have the re-
Lubiic e.stireiv &, 'ei Ell in thirty days
The company in selling $4,000 barrels
Of oil q day now, and expects to in
crease to $4,000 barrels rapidly. The
stock IL closely held, Messrs. Garfield.
Uoheny and Ripley being in control.
The Lewiston Brothers are also heav-
i.v interested.
Wabash Bonds Strong.
Wabash bonds. New York Central
and. Pacific Telephone were strong for
reasons that have been fully explain
81. hut perhaps not thoroughly np-
pre- eiated by the general public. II
Is believed by conservative bankers
that no, one of these three issues has
discounted the improved conditions
Of the near future.
One diseordant note was struck In
the decline of Kansas CITY Southern.
1t was ramor.d that the preferred
dividend might he stopped at the mex,
meeting. This is a company origin
ally promoted by A. r. StiIlweiI under
The name of the Kansas CITY. Pitts
burg and Gulf. II wen, through re-
ceivership. and E.. II, Hartman
turned mp IN control When the for
eign stockholders discovered that they
samuel tnterneser and fisrt,ai
sieikf were put at work TO get control
from Hartman, which they dio
Shortly afterwards the preferred stock
began getting Its dividends. There Ii
no Official warrant for saying thai
ftae dividend rnay be n~Ssad.
Three Look Suspicious.
Thre stocks acted In a way TO ex'
cite much suspicion. They were
steel. Union Pacific and Amalaga.
mated Copper. All Of them were be-
ing sold openly ami every attenrp,
'aHA was made 10 lead the pubic To 'believt
that insiders were hquidating II th'
liquidation is genuine. II Is the bodies
that has been seen In Wall Street fol
many a month. II is more probable
that insiders in Steel particularly are
simply prepared to support the stocf
n there should be any raid attempted
following the announcement mex
Tuesday of the net earnings for tbs
FIRST quarter OF this year Wall Stree
insists that these earnings will no
be above sIs 100000 The market ha
discounted earnings that small Their,
Is pretty good evidence for believin,
they viii be above s20.o00.00o.
Copper Earnings LARGE.
The Copper Metal market Is 81
strong and earnings OF Amalagamate,
are so large that certainly nj inside
II trying to get rid OF his stock a
present prices. The future OF Cniol
Pacific IL so bright that the same ma.
be said Of the insiders Of that com
pany.
Canadian Pacific did not make an,
new high record. but was higher thai
the previous close. This was due 4
ss the announcement that the conpan
wcctd spe.d 0e,6oo.0oo. as rapid
III ~ possible.
President Tafts attack. on Theo
dore Roosevelt cheered the street
bit. The suit which the government
proposes TO bring against the Inter
national Harvester Company IL no
VA rrssrded seriously aS a market in
nuence. as It is 80 manifestly q par
OK the political campaign. Some crit