The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-05-03
professionals TAKE
MARKETS SELLING SIDE
Every Street Argument Was of De-
struc1ive Character, Bears
Being Plentiful.
STRIKE SITUATION INFLUENTIAL
And Bears say German situation Is
Clearing Because Germany KNOWS
sac Is Winning and Gan AFFORD 10
Conciliate America.
Ry BROapNN ALL.

,~aaars dsrtded 10 day that insiders
6ad .fn1rt4a.~.s- fr4el,-ou- Monday and
therefore professional seIhnS was dhe
order OF the day. Every afknheht
IN the Street was destructive oHe'
Even the big earnings OF railroads
49,. oons.sered bearish because trad
ey. took a notion that these earnings
~,oula make labor interests ali the
more stubborn In demanding the IN
ereasee OF wages and therefore misnt
Unset the compromise plan on &C
count of which the market hAo lls
rally on Monday
Assurances from abroad that the
German situation would be smoothed
on, SO far as the United States is con-
serned evoked no enthusiasm, Tor the
traders argued that Germany would
no, do this If she did not feel herse'r
to he winning.
This view takes into account the
renewed activity al Nerdnn. "hich the
Germans have expectations of captur~
ing and Which some llluiafS Aeh IN
America say IS in a precarious con-
ditton. Furthermore, the hest bank
ing Interests opinion was to the Ell
feet that the business activity in the
United States would cause higher
ynauey rates and accordingly dilniu-
fsh interest IN the speculative market
which up 70 the present date has been
financed on cheep money, Apparent
fy there are uo great combinations in
prospect ard no fear of banking ma
nipulstio1-
Rear Talk Heard.
Thc Marine fight Is settled In =
sers!tie va and the mystery is gone
fro, that jssVe Steel and Railroad
EARNINGS are e. great that the street
cannot npprC ciste them. Investment
mercv is cautious again. FundaUen-
tails could hardly Ice frmer. hut at
the moment the Street is pessinfstic.
Tire short interest is growing rapidly,
80 tnat sf7T-p RIA tlfe~ frttst |.s expect
cd from time to time with q good
tire ding market one brokerage house
TO-DAY wa recommending three big
money makers to it's customers. They
werc ta4kawanua steel. iistiNers and
American 4dHseed preferred. The
FIRST named was said to be earning
IS per cent II is selling around 70
and is scheduled for per cent divi-
dend Distillers Securities after
marking off $1,000, h00 for bonds 70
be retired WILL II was stated. show
IL per cent earned and will pay 8
psg cent Ii Is selling around 80.
Liuseed preferred also selling around
Sn, is 10 get a . per cent dividend,
and is being bought by houses that
usually operate for insiders Of that
companz'
american Tobacco Shows Up Well.
In spite OF the fact that the German
marfet is entirely closed and that
Great Britain has laid heavy restric-
tons upon the importation Of tobacco
or general consumption, American
Tobacco ia making a fine showing,
This is proba hly due. TO the heavy
shipUe nts made for the soldiers. the
information coming from a relis bic
m
forwarded every week
Railroads have been ordering sup
plies with lberality. The Inference
Is that they see no end to the war
In Europe for a long time and hence
no reduction in prices.
Wreckage of freight cars IS much
greater than the general puhllc real
izes Most railroad wrecks are never
mentioned m newspapers Det tsu~l
most Of them are freight trans Rail
roads orders are 10 clear the line
snd this IS done with little regard 10
what may happen to the wrecked
raTs. which are dumped off the tracks
as rapidly al possible. whether they
20 down an embanknent or into a
river. Salvage is made afterward II
rosa.bie This order Is lived uD to
during these strenuous days even
more rgidlv than formerly One rail
road recently ran 4 few hundred old
cars together and set fire to them
10 get rid of the wood. Metal parts
were Of course saliva FED
Wave of Discomfort
IN spite Of more favora BILE condi-
items obtaining it, Some of the strike
centers which were viewed with OPP
tiniism on Monday. news NJ other
strikes declared and pending today
tended 10 discourage many traders
X is felt that a wave Of di~content
NAV sweep ever }tN country and as
snme such proportions as 10 unsettlp
the economic balance Great mann
featuring industries are being COM
PEELED 10 close. and while II iz hoped
the heads OF these concerns will he
g ahte 70 meet the demands of the
strikers, in such a way as to elini-
nate serious trouble and open the
plants speedily, Il Is also realized that
such dems uds may he made as Ia
render speedy settlement Impossible
IT would take but a day or two 10
throw the railroad situation into such
targfe that Il would require weeks
70 straighter IL out
In the meantime. the situation in
New York harhors show signs Of
clearing. ?
Metal Market
So Nep- eyA .-&aN 2. THE local mar
ket for copper metals continued firm,
n 10