The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-03-24
MEXICO KEEPS WALL
STREET BUSY GUESSING
Speculative Element Inclined To BE
Disappointed At Any Thing
Less Than Real War.
WANTS AMERICAN ARMY TO
CLEAN UP COUNTRY
Bankers Believe European War VIII
re over by summer. but Are 'h-
clined To Believe Peace VIII MOI
He a Permanent One,
u. RRnADAN WILL.

~ bkktJa1bah WIN
Men. york, March 2S.--Mex,csn ar
fsirs kent wall street guessing today
and the net result of the days trans-
actions was lower market for most
stocks. Companies having properties
in Mexico suffered worst.
u-au street Was not sure whether
4, vas worried or pleased with the
renort that large body OF Car
rama troops had deserted ~ villa out
when this report was denied in the
afternoon II expressed displeasure az
the denial The Street IS really anxi-
otls 10 have an American army clean
M all nf Mexico. and while 1t shrinks
from the result Of the first impact II
:. sure SC be disappointed at anything
iess than real intervention. Therefore,
trreSuIarity IN the Mexican ftocks
must be expected. 60 long as temper
syinE continues.
Below Their Real Value.
All Mexican stocks traded on the
<eV York stock Exchange, are away
hslovy their intrinsic values. Because
Of this they recover rapidly whenever
tho political pressure Is removed In
Mexico and the resulting Huctuation
cause much damage among specuia-
tors
Furorean news WAC OF negative
character. hut bankers Of long ex-
rerience did not hesitate To express
the opinion that the war would be
over this summer. They said II would
end not because Of what WAS done III
h3x battles. hut because all Germany
r. now In a state of siege. Bankers
s7v that the peace they expect TO
ace signed late this summer will, they
fear. he only temporary ss the war
will not he decisive, and will be fol-
lowed hy Immediate preparations for
Rff1i greater night IT fs VT this
theory that war stocks are being pur-
chased hy pools.
All muitimi1lionsires are liable at
AIRY time TO 20 into new companies
especially II along the lines in which
they have made their own fortunes
and therefore. II is possible that J,
" Duke may be planning TO take an
interest In the Tobacco Products Cor
paratior But the stock has been ris-
ing recently because OF big earnings.
Cigarettes More Popular Than Ever.
Tobacco companies in general are
making less money than they were
year ago. But the cigarettes in which
The Tobacco Products Corporation
srecisiizes are growing rapidly TN
popularity. II is estimated that the
saleE of cigarettes ia America this
wear will he at least 20 per cent In
excess Of those Of last year, Tobacco
Products Corporation Is earning above
rer cent now The British Am erf-
ran Company In which Mr. Duke In
more intimately ia entiied earned ~
per cent on It's capital stock Last year
and paid % per cent.
Railroads are making such large
earnings now that If normal times
4 l.. . :.
fmidst of a wild speculative movement,
View York Central k breaking all
records The I1ehixh Valley has sur
plus enough 10 pay as II goes In
everything II issues car trust certi-
Gates for new carr. and Immediately
takes them up and lays them in It's
own treasury. IT has something like
100000 goo OF its own obligations
which have been picked ZIP IN this
~ay The Baltimore and Ohio. Penn
ryfvanis, Norfolk and western. ana
even the Chesapeake and Ohio. and
other roads that have been second or
third class earners In the past are
showing up wonderfully.
Ships normally worth SEQ ton.
have recently been sold as high rs
sl1s ton.
The United States steel Corpora
tiDtl ~ utiQFIrtbOu W bS F1i ming CT t1if
rate Of s24o, GOO, 900 net yearly on
business now being. delivered. but the
prices on that business are $40 a ton
under the figure at which new orders
are hetnE taken, This may mean net
earning. Of ssoo. 900. 600 for the year.
The American Hide and Leather
Company is about closing an order
FOR ST. 900, 900 worth OF leather 70 be
made into 10000 600 pairs of Shoes
for soldiers
Underwriters % the Nidvals Steel
stock got checks TODAY for 81 1850, 600,
although they never had 10 put up
IennY because the stock wss all sub
sctihed for by original shareholders
Silver. the metal, has begun 10 rise
suddenly and mining people look for
boom in II,