The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-03-12
STOCK PRICES
TURN DOWNWARD
ACTIVE PROFIT TAKING IS CAUSE
OF sLtMP AT CLOSE OF
DAY
BIG CROPS EXPECTED
BRITISH COAL STRIKE WILL Az
Feet AMERICAN COPPER
SHARES IF PROLONGED
MANY WEEKS.
BIG CROPS EXPECTED
Nv THOMAS c. sAoTwElL.

NEW AUkk. March ll.-Optimism
got setback in the last hour OF trad
ing on the Stock Exchange TO-DAY.
W nen II was announced that the SUI
preme Lour, would not render lis de-
cjston In the coal trus, case before the
market closed profit taking was NJ
dulged in 10y professionals to such an
extent that a reaction of a point came
over the list. The close was active
and weak. but the bull party had not
abandoned its position. The move
vas permitted To shake out weak
foreign and 10 encourage the building
up OF more of -ort interest.
Early lin the dt.s reports from Lon
don foreca sted q quick settlement or
the coal miners strike This encour-
aged some buying of stocks, but later
these reports were denied. The addi-
ton of 15e. 200 German miners To the
ranks of the strikers caused a change
Of sentiment SO that the street was
ready for "A reaction when the delay
of the supreme Court gave al ex"
cuse.
Grain Takes Jump.
Another reason for hesitation was
the strength of cotton and grain. all
due TO had weather. Grain went to
the highest prices OF the Year. and
aFan Street traders are short of 1t.
s=-' American finaficicTv can not under
stand the delay In settling the British
strike. Ii appears on the surface that
the operators have offered practically
all the men asked for. The situation
looks like one prolonged Tor an ci-
TERROR f.s4FiaesAy-lt h.-24As ia retiect CA
The ability Of the British government
and trade Decentralization will come
fast with continuance OF the strike. II
viii hit Americans first through the
copper industry. If foreign consnmp-
tion OF the metal drops off due to
the closing os factories in Britain and
Germany the surplus In the hands of
American producers viii begin to grow
and the speculative market for the
copper shares which has been carefully
nursed into life VIII be threatened.
weak spot developed In the coppers
might spread 10 other departments.
Reaction Brings No Alarm.
The reaction that came In the Wal,
Street market this afternoon WAS not
sufficient 10 cause any alarm for the
recent advance has been such as to
make "a reaction desirable. II may
have been nothing more than the usual
compliment that the market pays to
the going and comings Of n certain
important operator who started on a
vacation today This operator was
said to have cashed in 10000 shares
OF steel. II this Is true the stock was
taken remarkably Well. That much
steel would have iiattened out the
whole list 4 Month ago.
Before the market turned weak the
advance of International Harvester
showed the belief in big crops. Wheth-
er the Harvester Trust is smashed or
not 1t will sell more machinery this
year than ever before. Ii the trust
does not get the business the frag-
nents viii and the Standard OF! frag-
nent have had fairly good picking.
Weak Shares Active.
Low priced shares were active in
the morning. American Can was
prominent among those going to the
highest price touched in many months.
The preferred stock OF that company
is In a strong position and should get
an increase in dividend this year. but
rs theie IL ABOUT 80 points of accum-
tisted dividend to it's credit ahead of
the common, IL is hard to figure out
rIoeh .or the common. Loriilard and
yigaet-Nyers stocks were up on good
reports Of earning.
Confidence in the return of pros
lsfity is indicated by the great num-
her OF new enterprises In preparation.
Gcule mergers Of Importance are also
to be announced soon. The Rubber
Tire merger on which the Goodrich
] eople have ieen working for months
is finally completed and will be an
naurced in few days
Number Of shares sold today, 405,-
b25; year ago. 2t6.37o.
Par value OF bonds sold today, 49,
2ts 900. d year ago, S3,0i. 900.