The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-12-17
|IRkEI ENJOYS
REAL RECOVERY
&UraEuE COunT DECruoN ID CON-
H1RUED A. FAv0RAnIE TO TTuE
HEADING COMPANY.
EOTHER STOCKS JUMP
LACK AwANA ADVANCES FORTY
81 POINTS AND LEHroH VALLEY
AND ERIE BoTH SHOW
GAINS.
OTHER STOCKS JUNE


d market has turned.
wall street is temperaHentai, mer-
oursai. II you Will Sentiment chahses
Even o,,ieker than the prices on ths
tanc. The weakness In the carry
4 morning. and the evident drive AT
4 Reading. that carried this STOCK ooWn
the new low Level OF lSs Id. caused
4 siss~arning brokers TO hastily advise
Z sisents to buy stocks This brought
& huy1nr force into the market mat De-
h .<arr1A Accumulated when the supreme
d rfssr, handed down it's decision IN the
Il anthracite trust case disnissinS gem
h eral charges Of conspiracy.
The resultant rally was the hrst rear
RECOVER that the market has SHOWN
h The stree; deals by inference anu
II fhtS decision was construed as iaV
orab,e TO the Reading company. fhe
"a dissolution of the Temple Iron com
4 uarr. and the abrogatton OF the sixt!
.fvc nar cent contract with the IL
% sfenendent coal companies, VIII make
M detrimental change in the coal IN
xustry. ignoring the control or 'Iels eS
Central, this brought covering Nov
snent. and a return Of commence Ia
coal stocks that was eFlnceo -
S@fcr1y point rise in Lacka wepn& an
81 4 sharp advance in Lehign N@'''S
Erie. ;s
s@ ,,hn .,~aa, has two theories on Union
81 rae,f,e tn. selling OF this stock mas
received much publicity. the buying
/ really of greater Importance. mas De1n
4 4racea to leading banking interests. Az
h has been suggested that wn'ie d.
the government was opposes 70 the -,
/ tnrrey,s plan Of a distribution OF
Z southern Pacific to Union Pac'hc
Il s.orkholders which would mean q
l,Ividend of some nfty per cent. tnat
I. IL now looking favorably upon this
Il mar. Another, which has gained
~redence in many quarters. Is TO the
n .1yect tina. the Union Pacific company
h WIN sell to a friendly syndicate Hs
4 hhIfiings OF Southern Pacific, buying
from them in turn . p.op ritz
B amount of Union Paciffc stock, "ue"
IN. 20 be substituted as collateral be-
Es i,ins the Oregon short Line reiundin1
sTsnsr per cent mortgage bonds.
$40 MAN ~ erected, the Southern
paritc shares may be Withdrawn at
1 the price at which they were p"r-
chased.
while neither Of these runors can
confirmed, the action OF Union
in, r,,fs.yss market lends ecker
u 10 Tbs. belief that "a prompt and saus~
sjnnrf0ry solution will be arrived at.
The acceptance Of either of these
Esxhepries would account FOR the slrehatn
B a f1nion Pacific, and the weakness IN
\ Southern Pacific shires
Sentiment Has Turned.
II was generally felt among commits
4 nlon houses that sentiment nao tuFheo
ESlr tavor OF higher prices. Wall street,
.suirl to draw differences, now con-
] s.auSies that the Supreme court gave lis
g nnfayora bic decisions first, and when
Did reconvenes after it's recssse In Jan
q nary. sixth, we may expect favor
Hsnh,a verdict on the Minnesota rate
Eases
So much attention has been paid
w unfavorabie factors that recent DE-
eisinns Of the interstate cpmmelec
J comrn.ssion, permitting increases IN
neveral specific freight rates during the
Nnst month, were ignored
Now that the Reading decision 10
mt OF the way, II Ii predicted that az
ne nex dividend meeting Reading Will
Ae placed on an eight per cent OASIS
which liz more than Justified by the
earnings Of the year.
No immediate Bull Market.
II in not to be inferred that we are
= r,sn into an Immediate bull mar
#He, or all stocks. The copper situs :
|efnn il far from satisfactory, and the
eharp decline Of tho metal in London
4eday does not justify the continuation
"a the high rate that has been main
Ntained In this market in spite OF puy
fng. which has decreased to nominal
deures. Nor did the evidence pro-
duced by the Pujo committee, which
0h0Red that in 1907 the metai was
wfthheld rom the market to produce
~ artificial price. tend to give conn
Aeuce to the present attitude OF the
Droducers.
Advices from abroad are not reas-
xurinx as to the immediate outlook Tor
money in paris, Berlin or London, ana
nntn the situation improves. or con-
Sfdence III restored in these centers, no
disarmament advance can be looked Tor
Ia our market.
Liquidation has apparently run It's
rourse, and while periods OF nervous
nesu are TO be expected between now
md the first of the year. the market
Has developed In decidedly more raw
Drable tone.
Number Of shares sold today, s17.-
AE4f. n year ago, ST9.3eo.
Par value of bonds sold today. w.
rs. 900; a year ago. s3.77s,o0o.
VII Hanar Anxtnf