The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-01-31
american CAN IS
STILL ON ADVANCE
HARKET rs FIRM, BROAD. DULL
TRREGpI.AR, FINALLY STEADY
At THE CLOSE.
HARVESTER STRONG
xTrEI. SHOWS STuRHoRsEss AND
THEN SUDDENLY SHOOTS ZIP
TWO POINTS AND DROPS
HACK ONE.
NV pRoDAN WALL.

,.,ar,sst was Arm. broad. dull, irreEu-
iaf and finally steady today, CLOSING
Nth many good gains on issues tHat
have long been in force Much re-
lief was felt when manipulation was
turned 10 Copper, Smelters, corn
PRODUCTS and Erie This gave
broaden basis 10 the trading ana
had the effect OF distracting attention
frnn4 the continuous advance IN
American Can.
THE copper metal shows improve
rncg1t and fairly heavy sales were
: made at 1915 cents for FEBRUARY:
n * now expected that the metal
will have steadier tone ana Ria1o
ALLY frrner IN price.
Large purchases OF Corn Products
tsa,nn,on advanced the price sharply
from below ] 4 to is. The company
r4as excellent business prospects ana
il is believed that the investigation
ssnss being carried on by the govern
bert into the affairs OF the corporation
wtIl not prove detrimental TO future
business. Much money has peen
sner,t by this company to use the n.y.
nrs,tfs.s.ts from corn and over nun
aret9 different articles are now ufill4ed
that were previously considered use
less.
Harvester Is Strong.
International Harvester continued
its exhibition IF strength Throughout
the day National Financing anu
Stamping was strong in sympathy
with the Can issues and rose 10 ~
en- less than 1000 shares.
There was a revival Of the runaors
that the plan TO settle the Pittsburs
company preferred dividends hy the
txsne Of a debenture bond might be
announced within the next few weeks
The common was steady and the pre-
ferred closed with gain OF %
There was heavy covering by shorts
in Reading and the stock rose TO Sc
ia before a supply was reached. Al
this level much stock was encounter
6 ed and the price fell back point.
room trader attempting TO revive
The advance bid f65 rs for 5000
shares. This bid was SO quickly sup
piled that for moment ne STOOD
astnunded and spent the rest OF the
afternoon in undoing at a loss his
too hasty bargain.
The Southern Pacific statement for
December. showing sA44,5oo gain In
NET was well up 70 expectations, After
she opening activity the shares grew
dull and neglected
Union Pacific acted irregulariy'
Sher, the covering movement was IN
full swing around the room the shares
rose 70 f6t 1-2 but aside from the
hears there was little demand and
the stock receded.
Steel Acts Contrary.
The movement in Steel common
was at variance with the rest of tbs
list. For some time it refused te
advance and then suddenly shot NJ
from Ga to GO, dropping back to 81
at the close. The traders watched
this stock in attempts to find tht
top of the market. They are not ir
eyn1pathy with the advance ana art
still inclined to test prices for re-
action. After the close it was an
nounced that the hearing in the gov
eminent suit had adjourned unit
February 10th.
The activity and steady strength
in Can overshadowed every other in
terest On a turn over of l36,oot
shares the common closed at 80 II
after touching for moment AZ
the opening.
1t was good sport when we were
boys, that tie a can to dogs tail
Somebody hitched Can to "a rally II
the stock market, 1t makes lot o
noise. as 1t goes bouncing along ans
every time it hits a new high spo
the boys Of the street yell with de
light The technical position of tn
stock market lis weaker through TIT
short coverings which have occurre'
and the nature of the manipulation
GRfa2AI HAS t<sks'A4 BAeANN- tN
vance is 10 continue there VIII hAvi
- To Be z COMMUNICATION 0f me accefera
ton.
Public Not Interested.
The public. however, shows lltu
inclination TO take fresh interest.
The investment market is not i'm
provement. The announcement of
new issue Of Norfolk and Western con
vertiabIe bonds brought a quick drol
In common from 113 IA in the fore
noon to Ill.
Foreign houses took little interest
trading in $4,000 shares rather even
~ divided between purchases an'
sales.
Number Of shares sold today, $40.
1875. a year ago s99.s27.
Par YaIna of hnnaA anlA TODAY Sc.