Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-05-06
GERMAN DEVELOPMENTS
WHAT STREET EXPECTED
lations Believed to Have
Passed BY.
MARKET ACTS on PROGRAM
Opening Weak. and Stocks Come in
Generous Nolume-lSargain Hunt
crs Anticipated Greater Breaks,
but Were Disappointed.
ny hno>uAN All.

. bN btONbNN W Ntsis.
NEW YORK. May Developments
I'm the German controversy to-day
were exactly what Wall street had
anticipated. The ro,c was not salts
factory, but iopo,t from WashinSto ton
was that tho dispute canno, be set
tied for months. ana III the meantime
danger of a break is avoided. The
market acted in strict accordance with
this program. At the opening ii was
extremely weak, there being liuuida-
ton on tho par, of the outside public
That WAS encouraged by professionals
who were short and wanted stocks for
came III generous volume. Bargain
hunters were on hand. but expected
greater breaks than came, and were
therefore disappointed.
Although the lowest prices of he
day were made within a few minutes
of the opening. the market remained
icassuranccs from Washington. pro
iessionals TOOK The long side Of the
market and purchased so aG2ressiveiv
that in few minutes stocks were up
from > TO points. The upward move
meni continued TO the close.
industrial Alcohol WAS prominent on
the advance. Mercantile Marine. Mex
others that distinguished themselves.
The Improvement, however, was felt
III the entire list
PROLONGED WAR HELPS
MUNITION MANUFACTURERS
The crop situation is not rs good
as might he desired. but the carry
over from last year is sufficient TO in
sure tho railroads large tonnage. In
dications of prolonged war mean adj
ditional large profits for mumitlon
companies and fo' the United States
Steel Corporation
An indication of tho tremendous
profits being made in motor stocks
comes in the announcement that the
hrn IL IL ~ m al
nary - To he Terminated on August |,
has already liqnidated All its holdings
and is now distrihn,ine Sl,:coHoG
not put up u single dollar as the pub
lie took the stock of their hands in
"a rise from 49, Which Was the under
writing price. to 2oA. which was touch
cd this week. This is only one IF
many successful syndicatcs in the mo-
tors and Explains the rcmarkahir en-
the, face OF high prices FOR gasoline
Marine preferred went t" $" on the
: his EXCHANGE hut only touched - on
r low 81 on tho Consolidated. nor Ana
'comda below Il - Reading on the
Consolidated. as arains, low of 81
on the bic exchange
UNITED FRUIT HnlGtT
Bt SHIPPING INTERESTS
United rrui, WAS purchased heavily
in The break and titcrward for tho ac-
, count Of people who are already in
the shipping business and VIII" cNt-
IDENTIFY would lil>e strong hold on
While nothing onriai can hc said
ia this regard. il is quite likely within
few days the street will learn that
american international Corporation
has become partner in The enterprise
GermanNS note was interpreted in
Val street as indicating that peace
raiders bought crucihle Steel freely
The stock was among the most active
on the list Baldwin came back swift
~. aud International Mercantile Ma
riue. Joined the group Midvaic held
firm, even during tho heavy selling on
The exchange
saw YoRE MAY 3 seldom. has Tho
S'"-k market hcen put to such tcs' OF il,
' siaiili'y as today. aud sodium has y,
, iontnrrs Cf IN" German mote were known
h"f1rc n" market opened and anxiety was
Initial transactions showc, insscs Of 10
: noin's IN many important stocks whit"
Ee'nlchcu Sr"cl declining u points. Re
Tor" th' rHpirHuon "f IA" first hour prices
BEGAN To rebound ~haruiy. duo ~ q calm +
n-M ~ n" nosSag" from Rcrin rar,'"u-
81 l-rlN me t'rAis Of Tho instructions 10 sub
marin commanders rh. Impression vas
that an immediate" rr"ak uu,t boon. avcrt.d
Recovery halted ~ midday, hut now ad-
Nano"s "er. mad" i.'or under Tho lead ~.
IN" shipping issues Uit"d ;.ruit madc an
hs> tmsf ia, sa'1 % ~ m %s T." 1891 after
mssinpS .e4js3 Of S :, n 1' s"S% and IN.
comndn. y. at -. other strong feature,
included United states steel. Which rc,ov-
d. cred from its minimum OF sol. "a ): rho
MeNicans. most Of IN" munitions, inrIu,.inr
.rucitl" Steel, BALDWIN Locomotive and
Wc*tins nous and IL" dis,illng shares o..
neciailH United St"t"s Industrial Alcohol
Iira prices were ar near highest level =,
Total sales $500 shares
b"ndS w"r" under pressure at times hut
imnroN.d ~ tho clos" Total SAILS pai
tni''d States bonds unchanged on cali.
NEW YORK. MAY i-Mcrcan,tIc rsncr
1891. sterling SIXTY day hi!Is. S4T.a$ dc.
inand' 50 49,. cables. si.1'. Far silver
40, Mexican dollars. 5g'. Goycrrm.n,
bonds steady. Railroad hondr o.sv I'm.
'n"nS. hru' ttNty days. -. ninety dav, :
sN m"n'h'' SO Call money. steady. ruin:
pOhN lot