The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-04-05
IDVIMcEs
STOCK MARKET
SNxxu COPrER METAL SOARING
rs SPECTATORS SHOW TENpEN-
cY TO CLOSE OUT.
STEEL SHARES ACTIVE
NEW STRENGTH IN ALL RAILROAD
STOCKS DUE TO REVIVAL :,
OF TRADE ALL OVER
COUNTRY.
STEEL SHARES ACTIVE
nv THOMAS c. sHoTwELL.

shc day. and the last prices were IN
ncsf cases near the best figures
Axnong those making new nlgh rec
ords for the year were cana aAah IA
sifsc, American Can, common ana pre-
rcrred, L nited States Rubber ana 81.
Paul. Steel led the market most OF
the day. There was an evident de-
sire among spectators to get out OF
Amalga mated Copper, and the cop
rer .s; in general Most OF them
were Of the oplnion thai the price
OF copper metal had advanced TO
figure where ii is no longer bull
Ysh argument Utah Copper alone
showed signs of Accommodations, pdt IL
has been held back while the others
were rising.
big Crops Needed.
Among the reasons for optimism
was the announcement that the Brit
ish coal mine strike is 10 be ended
ofI5cially. The defeat Of Socialism al
Milwaukee also continued TO nelp
sentiment. as its Importance had not
been fully realized the previous day.
Pernaps the greatest argument for OPP
timism was the great food In the
Mississippi Valley, This hood prom
isAs to break all records. II VIII
cause millions OF dollars of damage,
but il viii do ten times as much good
a. harm by enriching the valleys that
are flooded. Furthermore. II ~ a
proof that there is an abundance OF
water In the country, and that IN
eures big crops Big crops are the
only thing needed 10 make business
boom absolutely certain.
Activity OF Steel shares was very
largely the result OF discovery on The
part OF come important interests That
the net earnings for the quarter Just.
ended Will be somewhat better taan
expected. Wall Street estimates Oh
tho quarters earnings have ranged
between $la.0oo.ooe and s2l.ooo,eoo.
II ID more likely that the figures Will
be 434, 10000 or better. Nniie prices
for xieel have been low, the tonnage
has been large, Besides the profits
on cefnen. made by the steel com
rAny have been very considerable
Enough is known to make II Ger
tain that the dividend on the common
stock Ia not Ia Jeopardy.
Railroads Show Up Strong.
Strength OF all the railroads was
due 10 the revival of trade every
where. In some sections the unusually
good agricultural outlook helped. as.
tor instance. in Rock Island. The st
pAui advance was due TO further EVIL
dence Of the statement made in this
Z
affAlrs have turned definitely for the
better. In Wabash there VAS a GEM
cYsfration that surprised the Street,
g but that Should not 4sara surprised
IL The preferred advanced IA
points and the i per cent BONDS were
up more than point, because OF the
announce ment that Bernard n ba-
ruch would enter the board OF direc~
tors. This announcement was made
the previous day on what the news
papers understood TO be Official au~
shorty. But II appeared TO-DAY hAt
Mr. Barucn had SIMPLY been atded
70 the reorganization commleee. Inc
incident shows. however, how badly
5 Wabash and the Gould issues need a
live man To lead them. and the rise
OF TO-DAY is mere hint OF what M
yestors would do II Baruch should
take a notion to go into faiiToddths
BY way OF the Gould system.
Erie had little market all to IL
self, swinging up gently late IN the
day. The mig pool that has controi
al the Erie market is determined TO
tire out everybody else. The stock Is
liable. to become leader any day,
particularly so II the pool managers
are satisfied nobody has any OF H.
No following IN wanted In TINS STOCK
until II gets much higher. and per
sons having a fondness for Erie should
Ret II now or let it alone later
Ssurgenhein stocks acted much
attention because of the action OF
Utah Copper. Utah is earning now
III the rate Of about seven dollars a
kaare, while paying only three. 1t Is
Ia the copper mining industry what
Home Stake Is 10 the gold mines. Its
Intrinsic value Is greater than that OF
Amalgamated. but il cannot sell high
IL than AInaigamated. because ii lacks
me splendid banking and speculative
bAcking Of the latter. The Guggem-
hAirn Exploration Company that owns
4o4,504 shares Of this stock. has a
prnfls of xLh4a22 900 ir, that enc teEat
The Exploration Company has recent
". It Is understood. purchased In the
open market sixty thousand shares of
American Smelling stock at an aver
age cost OF less than SO a share. AS
stated here several days ago, the Ex-
ploration Stock is to be listed on the
exchange in shares OF s25 par. or four
new shares for one Of the present
stock. The dividend is. at the same
time, to be increased TO ~ per cent.
With these handsome profits piled up
Y ssiSt& treasury 'tfsE stock ought TO
look very attractive at it's present
price OF about 226
Another stock that seems to be
planning surprise for the public is
United Cigar Stores II has recently
sold all It's real estate holdings, and
contracts TO q new real estate COM
rAny having 100000 capital. All
the stock of the new company Is In
Z TIRE treasury OF the Cigar Stores Com
pany and looks like a plan to give the
sfcckho.ders share OF real estate
stock for each share owned In the
parent company. aasasss
~ further evidence that all Wall
Gtree, 10 optimistic a stock exchange
set waB sold today for sos 600
4 which compares with previous price
~ 1bs,0G0.
The Copper surplus has been ab-
0ofhed, the surplus OF steel mill ca.
Decaty will soon be disposed Of The
public II not in the market very deep.
Il nut Il is wading In ard thinks the
u WNter II fine. II will take crly N
& 1tt3s more splashing to induce the
4 puhIir 70 plunge In for a good ew,rn.
g Street sslss.
i a. the street: Number Of shares
- today. s2i.sss: year ago. la1..
Y Her value Of bonds sold today. a..
1870: . year arc. $2.s7ooo0.
New York Money.
E1BW YORK. April Mooney on