The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-09-22

EXPECT CHEAP MONEY


Were less active in the stock market
today, and the old standard Issues
were moved to the front. United
States Steel, Union Pacific and Read
ing were sold at higher prices than
for many months. Transactions in
them were also on heavy scale.
Other stocks to show unusual strength
were Bethlehem Steel preferred. Ma
tionai Enameling. and United States
Realty The Gas stocks were also
strong United cigar Stores sold on
the curb al i67, and closed firm. Some
unofficial announcement was made OF
plans for the new tobacco company.
which has been talked about fer sev-
eral days.
Bankers expect cheap money this
coming week, and there is possibility
of gold being engaged abroad Brok
ers are being encouraged to extend
their operations and the market lead
ership il becoming aggressive. The
strength of the railroad stocks, which
made so much Impression today Is
due to the increased net earnings that
they are making even at the current
rates. 1t is beginning TO dawn upon
the railroad men that rates are pretty
good, after all. They will be per-
fectly satisfied with the present rates
IL there ia no further advance in
wages
Steel business continues to grow
ard Is rapidly getting into a boom
condition Premiums are being de-
rnanded for early delivery In all de-
partments. The wire business is the
greatest on record Even the small
est OF the independents are now get
ting all they can do because the over
flow is SO great from the big COM
panies.
Particular attention is being direct
ed in Wall Street TO Union Pacific
and Great Northern stock Both of
these Viii Undoubtedly enjoy unpre-
cedented prosperity the next twelve
months. as the result of the big crop.
Rock Island is in a peculiar position
in this respect, because it's territory
without exception is bringing to har-s
=ve~t the greatest crop ever known
-rafsettis r4s--tts tet,rfi.--~-.s itcf!SurT mas
held back during the movement, but
IL also will profit very largely from
the corn crop. althouah Oklahoma,
which lies in its territory, will be
somewhat Disappointing in this re-
spect.
In spite Of the expectation that coal
rates Will be reduced by the inter-
state commerce commission, Lehigh
Valley and Reading were active and
almost buoyant. All that the rail-
: F1daS may 1bns IN Ail6 fEalCilph OIL
rates Will he gained by the operation
companies which are owned by the
same people.
Among specialties that are attract
Ing attention are Anglo ?American
Oil. which is being picked up by the
strongest interests This company
does what was formerly the export
business of the Standard OIL company.
particularly that having to do with
England National Enameling stock
touched a record today in expecta-
ton Of a 4 per cent diyident early
next year. There IL no official prom
Use Of this. but the earnings are there
TO Justly ii. The Copper shares were
all steady. They are being held back
by the strike ON the Utah property.
The Coppers are all too cheap in re-
lation to other securities. Anaconda
Will get rs per cent dividend next
Tuesday for the current quarter. thus
putting it on basis Of SO a share
annually. and Amalga mated will nat
-nEalr -zat-a-g- percent rate at The
December declaration, Can preferred
will get its full Z per cent for the
January payment. with an extra at
the rate of 3 per cent per year, Ex
ffas ia ad.Mtion TO this Will undouht-
eddy be paid form time TO time. West
inghouse is being picked up by the
insiders