The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-04-11
MARINE AND STEEL
EARNINGS FABULOUS
s,nse .Rrnke." Shi,sssna Conc~Tn Has
Hyfty Millions Of CH~h In i'%
TSxsaaury,
srh:rnis MARVELLOUS TRADE
aarr Than Nine Millions Tons of Tn
ulltI Orders on It's books IAN
Proposed TO ReiraAhtatc it'NA
I@iaahl
py pRoAnAN WALL.

sha Gerr4<aa situation gave ~ ~ ~ g.
a higher opening today and the pcs
prices OF tbs IA. were n.ae' @a1 y -,
she sexsicn me 1sArKe; fate" 10 yteld
~ r5,1.,,.-s tfpi ne F'ren@n we're IoS-
anr steadily al c~du'a .1erAaps oI.e
reason %as .Ast professionals haYe
sold shcrt srss s-j -e".' i"'t '' e>'
tend tnotr ccw'.'tmeEtS
Meet notable af The days aGa'ihee-
,nents we're those OF the tn 90 ~'aJeS
STEEL CORPORATION and the &erean;ile
Marina Company Both OF these Fe''
ged the stories OF fabulous earnings
that have been current. There was
good buying OF both steel and "eT'
camille Marine.
Munitions were picked up !H good
volume on the theory that large cop
per orders placed by England anu
France could only mean that moss
countries expect a long war. INC
same consideration led to inuch buS-
ing of the coppers although no cop
per distinguished !tself.
Gasoline Export Figures
Automobile stocks were not ln0u-
enced by the special report made oF
the government on gasoline. These
arures merely confirmed previous gov
eminent reports 20 the effect that ex-
port of commercial! gasoline In 1919
had been more IMAM 81 PoT 80,
greater than IN 1914 Other we'll
known facts IN connection with inc
petroleum industry were confirmed bF
this report. and 1t Is now clear that
gasoline wheat steel, paper and other
aiding commodities are higher chiefly
because the war has made narAes
for the surplus. which always deter
mines the price in every commodity.
One point emphasized hT the f5o,'
900, geo cash in the treasury or mo
Mercantile Marine Company Is that
even those conservative corporations
that believe IN laying by large sur
pluses must he nearly satisfied in that
regard Extra dividends should be
forthcoming from many quarters
soon.
Announcement by the United states
steel Corporation that the unified or
aers on the books at the end Of March
were 1891 o01 tons caused a renewal
Of investment buying Of the Issue
These figures show sufficient business
TO operate the company's work at full
capacity for the entire year Of 1915,
Consumers are competing for the
privilege Of entering orders, and thers
il no diminution In the volume placed
daily
In addition to the regular business,
there ia special tnduceme nt for the
ulariuy or rail orders during April be-
cause Of an advance IN the price al
most certain TO he announced on the
iaf of Nav The orders for MAY !.
therefore viii undoubtedly mark
new high record.
Proposed Loan For Rock Island.
The latest Amster proposition for
raising $2b.06o.00o 10 help Rock
island was discussed with much inter
est In Walt Street today. It attracted
All the more attention because IN the
latest proposition stockholders are
asked to contribute money and accept
=. security Junior Ia the debe1tures.
whereas previously the Amster com
mittee has insisted that the new So
eurity come ahead Of the dehentures.
The Observation-Disclosures have always been
willing to admit the new security on
their own level. and they are there
fore much pleased that they are not
asked TO q . SO
Many marvellous things have hap
pened In connection with the Rock
Island. hut If the stockholders volun-
far!ly asses themselves and accept
preferred stock or an income bond all
precedents Of high finance viii he
shattered. The only assessment that
has ever been Huccessfni In America
has been a forc!hle one
Making Money Now
Debenture holders have already
gwen ninety days II grace to the Rock
Island since the default on their In
terest. and unless the stockholders
come forward quickly with the money
now requested, the debenture holders
may be expected g. lake action within
n few DAYS Rock leland is making
money now. and the feeling grows IN
Wall Stree that Il ought H. he re
urSfS ~ fh@r1 Is q n abundance.
OF cheap n7onfY.
international Mercantile Marine was
strong and active as d res8lt Of All
announcement by the common stock
holders committee of the results OF
the Investigation Of the com panv' i
books
A good deal Of the buying in today
market WAS based on the theory that
Germans ha 4 II AIDE out a good case IN
the Sussex a+ssr This once more re-
moves the danger of break.
The specific fact on which bankers
bssed their opinion was that the parts
~ the alleged torpedo found in the
SUSSEX we're of Iron. whereas the Ger
man torpedoes are made of steel
New York Yon~y Market.
New York. April fh.~-CaT money to
DAY Opened ? per cent high, 2 per
cert, lo~.. - per rent. renewals .
PEI cer last per cent. ruling rate.
re- cert.
Tine u41e." AZ, witt IN change IA
rafes fsoua str e'"s. - asst week The
demand wz= Hzr' aod offerings were
net press@d 81 ts< rasrket on mixed
cc,lsfe-s' ~seper tvan "a he had fo~ az
leg 80 SIX -ae>Ths - 3 Ter cent hv
rrst-s3ass borrowers
C.craF e-c'al osper was uuchanEed
IT, iLa.tfd s@9r!H continued 10 move
at rates ranging from 3 - Ct. per
cent.
atchHo<c sroeR HAaKEh.
fFrse1 fs>kss q. Bnrrh q Co:
RlehfcpH9 Wa gAurfG 10. 1915
~ - z;H&s r {N'Esc:a
81 ASK "a
VIZ. sr. t1fr. g sud n ;4}:; -,
yirrtnis Centuries i7sf s5 S.
CITY &G|, @t.4-.E