The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-05-08
MOLE MARKET
SWINGS UPWARD
cHs IN MIDST or HIGHER
TREND WHEN cLoek
DENOTES CLOSE
PROPS ARE IMPROVED
- -
= PORT INDICATES
THAT ALLEGED DAMAGE TO
WHEAT HAS BEEN EN-
AGGERaTED.
e. THOMAS c. shorWeLL

KY thOmAS -. SFFS w
NEW YORK. May With few
xrt ptions stocks we're heavy today
ntT the government report ON w'u-
II wheat was published. The coudt-
of cf 7s.1 per cent. given proved that
hc reports OF damage had been eNag-
e:afed and the whole market closed
the midst ~ an upward swing. A
bort interest of unusual proportions
xssts In Reading and another in Union
pacific Both of these are to he
FINISHED Crop conditions have i'm
ruxed materially in the past Week.
ne bull calnpalgners are as coH4-
ent as ever, They consider the reac-
kof Thar is Just ending nothing more
ltan an Incident IN Il btih market. Il4e
Gyanre had been rapid and without
eac,ion That has beer corrected.
OF the securities To display unusual
IrengIh today, American Can Cana
Han Pacific and Wabash per cent
ends attracted most attention in
zach Of these there is definite rea-
lon for strength, The first is up GA
Is remarkable earnings. The second OFT
ne earnings plus the rights" soon to
" given on a Dgw xturk fa7ttt-,- st4+t4
he last on confidence in the reorganl-
|afinn committee, Ice made a high
ecorG with a rise Of more than two
points
New York Bonds Lew,
Sorne disappointment was expressed
Il the low bids for The $50 090, 900 Of
View York City bonds. The average
was lower than any previous sale The
iNty millions bearing the same rate
hat were sold in January Of last year
brought 10e.aoA, and the fifty millions
disposed If in March. 1910. brought
Nl2& The rate received by the city
otiay WAS good In view Of the greater
tefnrn that capital is receiving every
EHere' The sale released hundred
uiliion dollars or more that had been
held TO take 1p bonds If obtained. and
hat money Is nov available for stock
aaarket purposes, The reaction in the
ttask Iaarset began tn make its ap-
searance last week when the banks
sfsf r-t--f-a-t-4t,f bend Issue
Ffstistng liberal loans on Mi Glasses ar
Etcurifies. They will he liberal again.
Ifso report on winter wheat was of
vital Importance, II showed tina, the
T,ssdTfIoH Of winter wheat is no worse
han 1t was month ago. With SO
such moisture in the ground and with
NHfh weather 81 hand the crop can do
sothinE hnt improve from now to haf~
l'esi. Jfe government figures OF con
ai1ion include normal deterioration ana
H.
rurtnermore IL must not he forgotten
Fnat The SIX million acres of winter
neat field abandoned will he planted
W olher crops. not one Of which but
Hhl DC more profitable than the wheat
Crops Are Related.
ne government reports all farm
+WGrk backward, but the remarkably
PINE condition OF the soil will make m
tte the FARMER for all his extra work
[And losses on wheat. The decline of
WHeat half a cent "a bushei on the c,frh
'aliet publication Of he report showed
nov the trade viewed the situation
cotton Oil broke to 81 liz on dee
t4ralion OF the regular dividend on the
hxe1srrad- took The cam pa r.s~-a I,a :.
EsAFned in the first seven months Of the
Ehscai year ali the bond Interest and
kAll the preferred dividend for the en-.
FIire year, with something on the com
mon STOCK. but no common dividend
/ Is In promise
Report by the United States Rubber
EAompany OF earnings in the last fiscal
year of 6.3 per cent on The common
stock does not tell the whole story.
examination Of The accounts OF I'M.
subsidiary companies show that tho
earnings that belong to the parent
teonipany amount 10 above 13 per cent
81 ~ N'eip"hF HAS pfADu"u Tor all lbs
0aGn-L2xs-L!.i ~,.l 4
the East Indies where il has more
eihan 10000 coolies at work on its
Plantations. II will save to DO Soma
financing Ia carry these plantations
but the arrangement Will be Immense
III proiasah4s. and ffae dividend on rfTe
kfomrnon stock will certainly be con
tinued If not increased.
R.n,orS Cause Weah s,ess-
One evidence OF the weakness OF
me bear party was found In the wicrd
'ruHI5rE that were circulated. o.tt, had
afsaes TX e-t-tft-- settling Ftorf7B and rn-
EEaEed In desperate ticker duel with
IDanlei q. Reid Kesne has NOT been
IN The market In months for more
ssthan few thousand shares Another
Efumor eat the dividends Of Southern
and Union Pacific. Both Of those diyi-
i nens have been earned with a liberal
margin and both will be paid.
One thing that the bears did not
'ssss9v up ..wss The ~ srer tone skat ala
denly prevailed for steel materials
mat would be hearisn on stock Of the
6tsel Corporation, but very bulllsh on
al other stocks, 1t does begin to
look as IL the steel companies would
nave tn be patient until the demand
Tor steel catches up 10 the mill cana
city. but the low prices that must
prevail in the meantime must en-
courage building ~ all kinds and give
The country big eaiti+-~ foe-t4e- ,ste,,,-,,
invested. Railroads will not overlook
.slfA, opportunity, .e-e sd ,....45. 49,.