The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-03-04
BIG BEARS REAJY TO
SWALLOW LITTLE ONES
Markets Tone stronger. With H"li''
That Germans Arr Weaker an"
wilson Stronger.
PITY THE POOR on nARoNs
c,rnpellcd 20 Take High Prices For
Their Product Be'au~e ION" "'i'''N
Demand 1t Right on the Bat
~ pRoADAN WALL.

Nav york, March 3.--ProfesSlp0"
traders bought stocks rather freely '.-
sav an the theory that the Germans
were exhibiting cumulative "eA hhHS~
a, Vsrdun aud President Wilson cum p
1at,y-s strength in Washington. TheF'
are too mary bears at large anyhoH'
and the big ones have Apparently af-
ct6ea 70 turn around and eat the AitIe
snes up
fdttle n@wa was published today 10
account fss the strong tone IN The
market. TIE chief announcements
were the rev war contract taken by
the American Locomotive Company
and the fact that TIA Mexican Pclro-
leum Companys ne~ we'll flowed PSI
0o0 barrels the last 'wsnty-folr hours
before II was closed IN instead OF 100
coo barrels, as previously reporte1 !.
Neither Of these announcements IS Of
fciaf, but both are credited
Crowded Rear Condition.
A crowded bear condition vas also
shown in the automobile list. when
recovered sharply in some directions
Maxwell showed up strong. because u
ts reHa hlv reported that the company
Is earning $50 a share on It's common
stock.
As result Of careful invest!sa-
zion. tlfe statement can be made here
that the chief reason for tho heAv'-
ness Of the market recently il that
arrangements have not been completed
for taking care Of the 2 100000 shares
Of American securities. which the
british government insists must ho
converted into cash a quickly as pos
sIhle
Whether these stocks are actually
in the physical possession Of J. =.
Morgan Ia not important They "''l
he In the course Of time.
Thether thes estocEs are - he sold
Of are 81 he used as a basis for
vast new war loan * said % he m
decided but tho British government
Is Nuderstood TO be insisting or actual
sale Under these circumstances, the
only thing that can keep them Of the
market Wiu he the orEa nizauon ~ i
great pool IN Wall street to take them,
the pool perhaps. putting out = bond
issue to secure the money
Hangs on Issue at NerSfun.
II will be readily seen that the man
nor Of disposng or these stocks Is like
~ TO he materially affected by the
results at Eerduu. Should the Ger
mans win, the British government Will
he in urgent need OF money. and will
try to force the hands IF the Ameri-
can bankers Failure Of the Germans
vii give England and the bankers
time to arrange for disposition OF these
stocks IN such way as 20 he le1s
disturbing 10 the general market
Therefore so long "A the decision
ut erdun il In doubt. this vast block
az securities hangs heavy over wall
Street
Pity the poor oil harons
Thcv arc rushing the oil 70 market
49, TO- IN q
permit and are selling It as cheaI
nH the s-agerurss ri customers VII
permit bat the demaud is 60 urgent
they are compelled to accept plkce,
80 high that uniformed people al
ovcs the world are denounCing then
and iutimatlnE that there is combl
nation to force prices up.
4 Typical Case,
Ar incident III q petroleum once to
day illustrates the situation rr
in uE com gany ofcrec a produriu.
company p bonus Of so cents bar
rel above the market price for cargt
81 % 900 barrels OF oil bat tho pra
duceT told the refner thar II offered
hoaus Of s. barrel il would DO %,
good because II VAS not a question q,
prize hut II ira sportatiou
Tho prt~c ~ nil is ~na~inR hrruu~
~ the Mar in F.urop" The war ha
created foreign. demend for Easouu'
beyond AIN precedent u has tahc'
the horses away from the America
farmers at such fancy prices tina
HUNDREDS of thousands OF cheap ASH
tonobl}es have been put ;ntp scryie,
fn America thus consuming uor
gasoline AZ the SAME time ~ ra
DESTROYED ~o many ~1ips that ST. q
Impossible 10 get tankers ia which +,
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