The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-05-12
MORE INVESTMENT
BUYING IN MARKET
Believed BY Experts TO Precesie q
General Rise In Securities.
STREET is AFRAID OF PEACE.
Not TasTt IL Is Bioodthirsty, But Be-
cause IL Really Doesn't know What
Conditions VIII Arise.
~ pBoApaN MALL.

New York. May lin many ways
today's stock arket secmd TO in
dictate a reawssenlng OF legitimate
kind Manipulation Was not so APP
parent as ia several previous sessions
and there was considerable buying
no; only for investment, but for cper-
atcrs Of Importance. The buying was
of au!et sort and wac not so con-
Quoted as ret 20 advsn1e p-.ces. This
jx the Kind o! buying nat usually
precedes general aa9&st Else In
Monday and Tuesdas sessions there
was rather free short selling by pro-
fessionals 80 that short account II
OF perspect.v. proportions Just now
The CvmrIc incident - apparently
closed so FAR as this country is con-
eerned Conditions are improving
RAPIDLY in connection with Mexico.
and the street Is becoming convinced
that peace liz not In sight for many
months.
wall street has dreaded peace more
than IL dreaded war not because II
wants war, but because It fears the
feadjustments that must necessarily
take place. ONLY few Of the leaders
have not vet made Up their minds re-
garding the course Of the market ut
the close Of the war hut nearly every
body IL satisfied that the market will
continue to advance until peace is
definitely In sight
This is the feeling which inspired
today's market more than anything
else. The professionals are in humor
to settle down for another campaign
on the bull side and il is doubtful if
they will give serious attention 10
peace talk until there is definite
announcement from an officisl source.
Aarinc Attracts Attention.
~ to-day MsF.
camille MI rine common and prefer
Ell certificates attracted most atten-
tion because of the absurd argument
I'LL ont hX the common stockholders
committee 10 the effect that loss Of
'he Gymric was not Of Importance be-
cause the insurance money amounted
to more than the book value Of the
nip. The common stockholders
ignore the fact that the ship was able
To pay foI Itself on each voyage. But
this Ia not the only thing that the
common stockholders have ignored in
the hEht over Mercantile Marine
The important thing they have tg-
nored was that their stock never was
worth anything. The preferred stock
was all water when the company was
organized. and the common was not
even water. II has now arrived a, the
dignity of water and as the war con
Sugars and Clippers were both ac-
live on belief that a longer war was
sure. There will be a sharp reaction
when peace comes, bat a. long an
there is certainty of fighting they will
h>nent as will the automobiles COM
paaies and Hftnitious concerns
Railroads As Investments.
There was good buying OF the rail-
roads for investment Many persons
are holding Off on account Of the
labor troubles, but labor disputes are
hein~ settled rapidly and 1t looks "a
though practically all of them would
be I'D t1.stad- within -s-wrck- or-twu-
SnNins Of distillers looked part!cu1a riy
good and led the street TO believe that
the report OF a six per cent dividend
TO be declared in the near future ia
not an idle rumor. II is almost I'm
possible to get exact figures from COM
nanies doing war business for obvious
reasons. but IL Is understood that the
D1stiilers' Corporation will show earn
fnss for the year ending June OF
about 2 nGr cent nm no