The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-05-19
ThIll|ne RtlO|ne WILL
CUT SERIES OF MELONS
ssocA IL Run Up to eieo . share and
Prospects Arc 1t VIII
Go Higher.
DIsTYILERS PAY DTvTDENr
Wall Street Has q Panic OF Prosperity,
Newly Rich Wanting To Mako Moro,
and Big Buyers Holding Tight For
Greater Profite.
Nv BROADAN WALL

New York, May 1s.--when Read
ing sold at 900 share today IL Gre
sted almost as much excitement among
professionals AZ Was created fifteen
wears ago when Northern Pacific sold
at $1,000. Northern Pacific sold up
Of panic now panic Of prosperity
Poor traders suddenly made rich are
IN a panic lest they Lose their money,
ard multi millionsirss are in panic
If uncertainty az TO whether they
81 ouId sell their stocks or hold them
for little more.
sober opinion IN regard to Reading
70 that the real wonder regarding that
stock II IN It's low price, not IT'S nigh
price Everybody IN Wall STREET has
known for years that Reading has con-
cealee aseets worth at least double .he
high est price at which It ever sold.
The trouble with the stock has al
ways been it's frequent rapid advances
on exactly the kind OF talk that ac-
com panies the present advnnces-
talk OF distribution of assets Only
hall dozen men really know whether
the movement now under way 10 due
70 o genuine intention to distribute
the assets or whether II is people TAX
ing advantage OF the publio's knowl-
edge Of asaets and Ignorance OF In
tertions Reading 10 earning fully 20
per cent ard might easily double Its
dividend That would Justify price
e%en higher than that at which II sold
ioda,
May Out the Melon.
Traders who are most active in
Reading claim they have been inform
I'D that there IL TO be series OF
melons cut by the Reading COMPANY
This would make the advance cumuia-
tive and enable those IN charge of the
market TO keep Reading a leader for
rrerp months and ultimately coax the
other railroads into activity.
Baltimore and Ohio. which owns a
large block Of Reading stock was ad
vanced nearly two points. New FORK
Central M ed up n point.
frdustriais were neglected The
dividend on Di-tillers made little i'm.
preston. but the market in general
was strong
Traders welcomed leadership OF the
Iesrer. Norfolk and Western made
a rev high record, having sold as high
IS i2s IA
Heavy shipments OF gold to the
United states from Canada BY the
British go eminent 10 taken In some
quarters 20 mean the liquidation or
fyritjst1-o-rf~d- securities has reached
ilz end. ard the gold shipments were
for the purpose OF stahilizing sterling
exchange w this market in the an
een4e OF liquidation Of American Sc
turitfes
Bistulers declared a dividend OF =
rar cent on-its stock, retired s2.ooo,ooo
II bonds and made the announcement
hal the company is earning at the
rate of at least 20 per cent.
Wall street was skeptical up to last
minute and the stock acted badly dur
{Ag the hour while the directors were
in session When the announcement
was finally made on the tickers the
stock picked up gradually, but met
liquidation,
The HOLM Sugar Corporation which
tefnes beet sugar and whose pre-
erred stock is considered one of the
Mgh grade investment issues OF thu
~ street il earning AT the highest rate
IN record IT must soon retire large
shock ~ the prcferSeo stock TIT
.ompanv has quick assets in excess o
. IS per cent on the outstanding pre-
ierred Net earnings from April ]
1915, 10 March 20. 1916. are reported
10 he s1.S65.ae2 OF Ave times tn
siivi iend or This Issue, No dividend
IN excess Of $40 share can he pale
cen the common stock N any caienda
ear ~hile there is any preferred out
landing