The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-05-04
professionals RULED
MARKET YESTERDAY
Condition on Street Declared 10 he
Technically Bad--LosScs
General.
SILVER AND SUGAR co TT
Automobile stocks May Feel Effect of
Government Report Which says OH
Supply OF L. :. win Last But Twen-
ty-sevcn Years.
IN BROADAN WALL.

New York, May --fFotesSf"t'7t
traders ruled the market today. They
closed II at about the lowest hsures
OF the session with net losses limited
10 fractions in most OF the list. but
running high IN a few issues Mer-
camille marine preferred losing hVe
points was the worst sufferer among
the active stocks Losses OF two
points were recorded in q haif do2eh
issues Mexican Petroleum and some
of the Tobacco stocks were firm.
Anaconda Copper showed hut
fractional advance rs a result or its
wonderful statement Of earnings The
condition OF the market has become
Technically bad.
Mercantile Marines break the day
before had a bad influence today.
When the stock continued 10 advance
today ira ders decided that the whole
movement had been wholly specula-
tive and for the purpose Of moving
other stocks In the market.
Among notable events OF the day
were new high records for both sill
yer and sugar silver sold al II l ?
cents an ounce, which is the highest
since 1922, and sugar sold al 5.I5c
for Decem Der delivery, also the high
est in many years
N Marine issues reacted sharply. sell
ing down 10 IL points.
The announcing OF the plan for
restoring the property to the stock
holders depends very largely upon the
progress which, VAS interrupted by
tfe strike Of freight handlers in New
York
owing 10 the uneas> state of mind
prevailing n Wall Street another de-
cine in the stock would not be sur
grprts 6yyIFas n
profit 10 the holder.
Workmcu After Their Share
All classes OF workmen seem to
have made up their min DIS to haze a
l3beral share of the war profits or
stop the profit
When SILVER sold NJ - =: cents an
ounce It was then % above the high
est pric" OF 1915. 1t Is probably -
per cent above the averag" prices
III last year As the Anaconda Com
psny produced 100000 ounces Of
silver last year. "A rise Of 25c an ounce
would mean 80 ESQ 900 increase Of
net earnings. which wonia he Just
about per cont on its common stock.
American Smelters Is another big sill
Yer producer There are dozen
mining companies that VIII feel tho
influence Of this rise i'm price
Copper Stilt Heavy.
This makes all tho more remark 70
able the stubborn heavipess Of the
COPPER stocks, with All their prod
uc. selling al high record prices and
with urgent manipulation ia progress,
stock prices dp not advance The
pnTY Te@EoHabre explanation Is that
the heaviest traders are louidatinE.
The advance report Of the govern
lnent investigation on gasoline stated
that the oil resources Of tho United
States are go per cont exhausted and
that there ia not enough left 10 last
for more than q years People are
buying automobile stoCits are not as a
vtie looking that far ahead nat Il is a
femaTka bly, brief period for a great
industry, because without gasoline a
meteor car IS AZ present commercially
unavailable. This same report adj
Nanced Industrial Alcohol. for Il
brought into prominence the value Of
aicohol as an explosive fuel
Earnings Of New York Genital has
been one OF the favorites in Wall
Street in tho past few DAYS