The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-05-15
ACTIVE TRAO|NG
BOOSTS PRICES
STEEL NAMES MOST or IT'S AD-
NANCE EARLY IN THE
DAYS SESSION.
e. F. STRIKES HIG H
ACTION of MARKET LEADS TO- H.
LIEF THAT WALL STREET Is
BACKING THEoDoeE
ROOSEVELT,
e. F. STRIKES HIGH
syTaomAs c. sAoTWEtt

of active trading in Wall street Ien
she stock market ~ atsFsslis
e- level Steel and Union Pacihe'
which were conspicuous fer tne~
h.s rif,ess the previous DAY. We're the
market leaders. at times dispiaEnis
considerable buoyaney. steel maut
nscst of its advance in the carry part
!. 81 the session and. o~the- great sur
prise of traders. held most or
throughout the day. Union Pacific was
strong early IN the dsv and then be-
ry+-4r---i-.i ---t-4.,-t---+- si4@A-e!cSa-A
forged inward nearly a point and end
cd nj the high price
Sor.ae new high records were made.
the chief being canadian Pacific, winch
rosp 70 4.s st m advance nf NOR"
than four points for the day. ieaN ing
tn. stock at the highest price at which
II ever sold. Other high records were
made i'm Rag and Paper This stock
in influenced by big earnings In addi-
yio,4 to pool manipulation, The n1anip-
ulation however, has a substantial
basis. for IL is expected that the COM
ranv will earn this fiscal year the
fun I per cent on the preferred STOCK
and at least ] per cent more Anglo
American oil was the other record
breaker the stock crossing 20.
Harvester Fiuctuates.
International Harvester moved be-
tween low and high 12 points This
ix one IF the stocks that is being
busted hy the government There mere
beginning of proceedings against the
Sugar Trust for the same purpose has
created an intensely optimistic situa-
fion. Sugar is earning 20 per cent
and paying Z per cent on the COM
mon stock. A cool has taken hold of
1t with the idea OF putting Il to new
hich record And II the dissolution
proceedings are successful thev pro.
h pnse 70 put II 10 about ESQ which -
ifs book value or a dissolution basis,
People are beginning to notice that
every time Roosevelt makes show
ri strength 'ke stock mar,.st turns
strong afro. ana this Is creating th2
suspicion THAI speculative WEI Stree,
Is reafh ''aes o. his canpaisi. Nh,
cnlx theory on hin this Nvuflid bt.
possible. would DO that SOM Kind ri
u deal is arranged W. erebN Resolution
sssits will he brouglir against nlmer-
osls cerpora'ions y hose stooSR have
s.a9if hard 10 advance along with
iht adVantt Of steel C'orrornli u
stock. Great Northern certificates
snoTel III trifle. About the same
time a ru-uor appeared to the effect
hat The Republic Iron and Steel com.
psnv Hsghi take a lease on n section.
Of .he Iill ore lands. Il is already
known that the trustees viii organ
ize cerlnanr 70 sell - ore
Can Stocks Quiet
Can stocks are quiet and this led
the Street to believe that the REID
following would he shifted into Rock
Island and Lehteh Valley There is no
sign Of immediate activity in Rock
Island and this state Of rest is prob
ahiv due to the bad earnings eo
hv the conpanv early In She year. Rock
Island runs through the heart OF tn.
CORR land and IL IL not likely that any
great activity viii he seen in the stoct
until the corn planting sea son In ad.
saneed far enough 10 make * sure THAI
great crop IL a fact, Corn is planted
Nd To the middle Of June but by the
end CT Nav there should he SoInethiug
definite in regard to the probable. size
Of the crop --.-.--
Copper stocks disappointed their
frierds today. remaining heavy, AL
trough the metal was advanced to
~ s-s Il pound Tho copper metal
situation IL sound ana recession Of
more than cent fro-r current pr.cae
need not De expected this year The
hea viilsss of the stock IL undoubtedlN
:ntiacial. for all the companies are
making such large earnings that diEf-
deiid advances must come next year
az matter of course
] he mystery Of Quick Siiv.r's adj
vance was explained today when Presi
dent Charles a, NoneR announced the,
ne = about to begin III IL for a large
amount IN the interests OF stocKhollcr.
"n account OF former improper tranE-
art-faas Mr. Noues refused to STATE
TIE exact nature OF the lttiga ton
Paper Makes Earnings,
While the Paper stocks are Yer,
speenlative from IA stock marlse. point
q view. II IL fact that all these
PAPER companies are. making large
h. 81 '1(Tfsf Ye,itqaa - sx&sT 'l,.tss
Y a a&+ss' * rssrrr- stf.. RECORDS ana tht
rap"r business is working into A boom
rood reports also come from the tyre.
WRITER companies. and thus the sit,ta
ffn seems backed ND by fundamen.
- facts that are more substantial a.
fhe string progresses The only weel
point in the whole situation now, is IN.
bredicafnent Of the great railroads
which have advanced wages in exnec.
Iafinn ~ setting an increase n
freight rates
! - New Yurk Money "'.''t
NEW YORK Nav 4Af1r.... . -