The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-03-31
AMERICAN LOCOMOTIVE
MAY HAVE BIG ORDER
Allies Purchasing Agent Coming
S With $50, 0o0,O 600 Worth OF
shrapnel Business.
WALL STREET is SERIOUS
frcls Tiast All signs Point Now to "A
long war--RaiIroads Argue
Against Wage Advance, But Print
spien id Earning Reports.
Nv RROADAN WALL

j N.
discussed the German situation today
with real seriousness. and the result
was a market heavy, dull and OF
small volume This serious note was
,luiecfed into the situation by semi
official announcement that the official
purchasing agent Of the allies - re-
turning TO New York after long
-~fav in London with orders for ss4,-
zoe zoe more shrapnel 10 be placed
with three colnps nies whose current
contracts Will soon he worked out
This did not appeal TO Wall Street
as move for peace. Renewal ot
sharp Iqhtins around Verdun was
ensther development that made for
conservation
z. Trade are beginning to get wor-
rteti eyef. the prospect of long war
Everybody realizes that American
corporations are tremendously strong
In cash resources now and that If the
war L. to continue two years, or even
one wear longer II was found that
very few quotations are high enough
fa discount conditions. This IL re-
straining the bears Investors have
pu, much OF their idle funds into long
term bonds al attractive prices, and
while they are very rich. they have
not the funds with which "a specu-
late In ordinary stocks. That takes
from the market thousands of per
sons who helped TO make the big bun
campaign of last year.
Business Men May Be Buyers.
The only other class available for
stock market material is made up OF
thousands OF business men who did
not have money enough to partfci-
pate In last years market, but who
now are rolling in wealth as result
of the general prosperity OF the coun-
to- he IL at
+ but are restrained by what they con-
slider high prices, and by their fear
that an early peace may end the boom
before they have an opportunity to
realize any profits.
The result ia almost deadlock.
This is why II happens that unimpor-
sfant rumors have such irnm sdiats. but
also such evanescent an erect on
prices
Wall Street tickers were buoy today
Publishing arguments put out by the
railroads against an advance of wages,
These arguments were Interrupted
from time to time to permit the pub
.iieafion Of railroad reports showing
marvellous increases of net incomes
for February. Western Maryland
Showed q net increase OF ITO per
cent; Reading, 30 per cent; Atlantic
roast Line, SIS per cent; st. Paul, so
per cent. and the Alton. 76 per cent.
Railroads I'm Munitions Glass.
r Railroads have entered the muni~
items class of stocks, and the serious
part of Wall Street believes that en-
pieyes should receive material
bonus but with the understanding, as
in the case OF the other munitions
companies that II should be only for
the boom period Railroads are re-
zarded as munitions companies be-
cause transportation is as much an
ingredient OF shrapnel as are steel and
explosives,
H r. Stettinius.- purchasing agent
s,f the allies, Ia expected home next
"Wednesday with an $4,000, 900 order
for shrapnel The report today traced
directly to one OF the companies
named, saws that the American Lo-
connective Company lie to get S42,-
non 900 of this order. and the West
snxhouse and the New York Air
Brake s21 100000 each. The order
will be for 4-inch and s.2-inch shells
This is the big order that Arner
can Locomotive directors have been
speculating on for weeks. and It ap-
ESpea-. that they have picked up all
the stock they want and are now
willing TO let the matter come to the
public in a definite way.
Should such an order actually be
placed. II will he very buliish on
equipped TO manufacture munitions
in big way.
Don't Want 10 Re a Nurse.
The United States government OBJ
jerts TO being nurse and guardian
for the American Can Company, as
provided for in the decision recently
handed down by the Baltimore SUI
preme Court The Department of
Justice moved TO demand r clearout
decision either for or against the Can
Company. and this will have the re-
quit of carrying the matter to the
4 Supreme Court of the United States
While the Can officials don't fear
for the results, yet the situation Is
net go huilsh as IL the Baltimore de-
ession YVES left undisturbed
Jewel Tea common sold up 70 81
aoda,, and announcement was made
HAT the busincso of the concern had
Increased 80 per cent over the same
period last year. This company has
large number OF retail stores
Il.