Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-05-04
PROFESSIONAL TRADERS
IN CONTROL OF MARKET
Net Losses Limited to Fractions in
Most Issues, but Run High
In n Few.
STRIKE SITUATION WORRIES
Mercantile Marine Preferred Worst
Sufferer Among Active Stocks.
New High Records for Silver
and Sugar.
BY BRoADAN WALL.

NEW YORK, May 3.-ProteSslonai
traders ruled tho market to-day. They
closed Il at about the lowest figures OF
the session, with net losses limited TO
fractions in most of the list. but run
ming high in few issues. Mercantile
Marine preferred. losing points. was
tho worst suffered among the active
stocks. Losses OF points were re-
corded in half a dozen issues Next
can petroleum and some of the iobac
stocks were firm.
Anaconda Copper showed but Il frac-
tional advance, as result of lis won
derful statement of the earnings The
condition of the market has hecome
technically bad.
Mercantile Marines break tho day
before had a bad influence to-day. When
the stock continued to advance to-day,
traders decided that the whole move
ment had been wholly speculative and
for the purpose of moving other stocks
In the market.
we're new high records for both silver
md sugar. silver sold al :. ID cents
an ounce, which is the highest since
1892 and sugar sold at sis for De-
cember delivery, also the highest in
many years.
Many persons expected An unfavor-
able report from Germany. or ut least
n reply that would rot he to the lik-
inE OF Mr.. wilson
Marine issues reacted SHARPLY. selling
down to II points.
LIQUIDATION by HEAVIEST
TRADERS KEPT DOWN PRICES
With all the products selling at high
record prices and with urgent mani
pulation in progress, copper stock
prices do not advance. The only rea-
sonable explanation is that the heaviest
traders are liquidating.
The advance report of the govern
ment investigation Of gasoline stated
that the oil resources OF the United
States are 30 per cent exhausted. and
that there is not enough left to last
more than twenty seven years. Peo-
pie buying automobile stocks are not.
as rulcJ looking that far ahead, but
1t is u remarkably brief period for a
great industry. This same report ad-
vanced industrial alcohol. for il
brought into prominence the value of
alcohol Az an explosive fuel
Earnings of New York Central have
constituted one of the favorites in Wall
Street in the past few days Every
body says something good for the road.
Still, il has done only trine better
than los. This is merely further evil
dence that values are playing little
part in the stock market. Sentiment
and rumor count for more than divi-
dens and other earnings
Disappointed traders say that they
no not expect any material advances
until the strike situation is definitely
settled
NEW YORK. May AIN spite ~ more
hcnctul views OF the German and Mexico n
situat'ons, an increased dividend for Ameri-
can Smelling. optimistic steel trade reviews
ana additional railway returns. Tho market
so'daN reacted downward steady selling
or popular iasueS caused rcnerai
,cvcrsai early In the LAY with unm.s,aIta-
~" signs ~ liquidation al tho end
Mercantile Marine preferred stock rreis-
:rr"H an extreme loss OF "a points on It.
,inciinc 10 -. and tho common lost o., 81
~ MARINES We're weakest in tho afternoon
iollowi7E tn" publication of statement
n" hondholtcrs and The preferred stock.
Crucible Steel. New York .hrbrahc Nncr-
:ca' and RaiLwin locomotives, and Pressed
wer" even more heavy. Tn" ,i,s,ili,nr rroun
WIS strong az times. hut fai'rl 10 nod
Copiers were generally h-a. >ro-.can
smelling gaining ? points. with .irp"yt rs
much for Anaconda. Zinc share. Hu,,r>.r
sold on point or moro
United States Steel appeared "a be, ln d.
oil lis gain later, while Rcrhlci,"n, StcrI.
which showed cary los, %. n,1,n.; /,
FONTS made complete recovery r:a''s scr.
IRREGULAR Al hest, but shaded In INC at,.r-
Eonds were irregular. TOTAL saiCs. p.r
value '2!coc'o United Stairs ronds I'M
changed on call.
new YORK. May : Mercantile paper.
T;ant 'i:S; cables. Sal hag silver -.
s Msstss" r eG,sss bon bond GoTr,"mcn b9na
cans sss,sr; +.,;. cad ninety days, %: s.:
ruling rate, "a