The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-05-02
SEnsAIlQNs LACKING
on STEET YESTERDAY
Actisisy still Pronounced In Group OF
.sWsr stocks. But Duh
Elsewhere.
|rEtHNrcAL CONDITIONS RULE
xtnifroad Improvement SLOW But Dis
sinct--wabash Reorganization Pros
pccts Frightening Up-turious
Speculation In Industrials.

wv New York May i--Today's two
hour session Was H. relatively nuim
portant affair A good round total
pf business was' done. but the trading
was less exciting. -At least the SEN
satiorai features 10 which the financial
4 district has become more or less &C
Il customed we're lacking. Activity con-
tirued In the industrials and par
4 ticnlarly in that group known as the
.&s.war stocks. and the market, there.
fore. stiil presented 3 somewhat iop-
sssi3ed appearances. Westinghouse was
again heavily dealt In,
Etssse n ne aH ~ WIS gwen s6vcr 10 realizing
<aAnd evening np transactions aud the
character Of the market during the
Greater psFgerrf-, the session was re-
ac.iousrs, THE fact OF the reaction
as.d tic niannrr 10 shich it was con
4sirrfcsi were on she~whpie satisfactory.
| There we're M htu ssscliRes IN the gem
efaa list which. in ssais Enain. held up
<sen. Al tisc. sspse ID sharp recovery
asn.gesseS 4ffas a earrxEierable amount
af strength h;ts hetn Held In reserve.
IN few steekS OF stsss ssec ialtv type
Mnsch have lAs@Ist been r,~+hcd up
ssslomsly BY pool opeeanons fell back
fafher easily TR5* latter feature how
seyer. WAS favorable in THAT 1t tndi-
gated . slthv correction of Specula-
~ i've ENtEESkshs s5.-
Trclbntcai esauditions Rule.
The news OF the day. what there was
d of ID. did not exert the slightest In
uenca mf1pog1 quotations As has been
said before. price movements seemed
20 be wholly guided by technical com
ssistions The March statements OF the
n big eastern systems aroused some lit
lie interest because Of the prevailing
impression that railroad earnings
II. st.,r~ lxn .sffn ssg
ssenf the improvements IN business. The
hig decreases in gross reported ny the
Pennsylvania and New York Central
were not construed as Disappointing
Z III is known that the betterment has
been slow. but nc less distinct for all
~sthat. Other more uP-to-date indica-
lions show that 1t has been progress
sive and thai the pace now tenrs 70
quicken rather than not
There were several important de-
Selopments during the week which
might have made distinct impress
sion upon financial sentiment had not
NIL consideration been overwhelmed
by a continuation Of the furious
4 Apeculation in industrials, This move
rnent centsrea atpea Westinghouse
Electric and several other so-called
-'war stocks and WAS carried TO
raeHgth that sgsPasasn. anything ,,.. since ,e
S%&fxW da$s OF GffP WING ,t'ACiteiitHht ~
ASneyie4n Lso9ipmlpqSssse sagd Bethlehena
Steel These Spectacular advances
are itsas-srlee acasea 4sn-reael orders
for huge quantities If war munition.
1.-The ssoreieHs. laaHittedly highly
urcfltahie, Nevertheless, IT may ne
& sasked whether The Extreme profit may
not have s5ren ifsssnedIately TRANSLATED
into stock prices and whether IN this
a process speculative excuses have been
INDUCED In which, will have TO be paid
for sooner or later,
Nabasb Outlook Better.
One ecnstr1ctsves step taken last
geek was the by3ng:ag out off,
Aealast suian. ~ REORGANIZATION for the
f3stx isas II sseh ssksd SAsand it was pre-
FL ttsslstslr 6f, tYAs@ feature that the
ktfartcd encourac-
4isiTIy sfsye pkafation is that the
4,aan will 80 .thIapgh without import
&iu III tay. ara fsfarz thereby new
sra Will No opened ssp for the COM
Y,zsar. "A second Favorable develop
I inesfst Was the stsre~xAfpl arrangement
for d renewal Of tiIss " issouri Kan
sas ND Taxass nnb&E The company
thus es9aped raesfvership, an alterna-
tive which, In view of the tremendous
aaficuItiea now involved in such pro-
seedlings. and ethe prospect for re-
turn of general prosperity would have
been a pity. .sSs