The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-09-19
IDllc n MARKET At
PROSPEROUS PRICES
- Re0ple Who Are Making the
Muaey In Stock Game Play
T4,otr Hands Well.
GoooMorrvEs BIG ORDER
Ceee Halt OF the Ten Million Dollars
worth of Engines Contracted For
Il Nv New York Central Railroad.
Nv BROADAN WALL.

%s New York Sept. iS.-Another mill
Hon share day saw the usual Monday
AFTERNOON reaction that is one of the
absolute certainties of every genuine
bull market At the opening there
was the traditional accumulation of
orders from the public that had read
about the market In the sunday
newspapers These orders were filed
by professionals and the heavy selling
left the market in depressed condi-
don- According to the usual method
no support will be offered tomorrow
morning and an irregular halliday
will test the public temperament, Then
fresh buying will be melted by mani
pulative orders from high quarters.
Seldom have the big people felt go
eure of their ground. They have
tested the advancing market repeat
edly by heavy sales and found the
stocks taken. They are not anxious
10 sell because they are confident that
The war is going TO continue for sew
3ral years and that the big earnings
will 60 on for more than a year at
least. II the war should end sud
denly there would have to be some
quick read5ustments and that is the
only risk dealers in stocks now run
United States Steel made Its usual
high record selling this time at
1oS SIS. II was heavily dealt in and
had an extreme swing of onlv "a little
more than q point. Bankers thought
Il acted remarkably well and the
buying of IL was much better than
selling in the afternoon The same
was true OF other steels. Republic,
LAckawanna and Midvale having hut
trifiing setbacks.
Tobacco Products Respond.
Tobacco products made a quick re-
sponse to the statement made in. this
column regarding the rapid grow<h of
the cigarette business.
Marine stocks were all heavy, The
reason is that the pool in international
Mercantile Marine common has sold
out and wants to accumulate at a
lower level The advertised reason
today was that some body had seen
seventeen ships in the harhor looking
for cargoes at reduced rates, If these
ships were doing so, they were ships
that wanted whole cargoes without
war risk and the big money is now
being made on cargoes made up Of
numerous consiEnments sent to the
( ports of the allies. This latter Is what
1 the International Mercantile Marine is
making most of its money handling,
D The other marine stocks were heavy
4 In sympathy. reduction OF cotton
freight rates hurt marines and put
cotton up.
Driggs-Sea advanced more than
seven points early, but reacted with
other stocks. American Locomotive
was strong in the early session be-
cause ii gets one-half OF the So
100000 order given by the New York
Central for locomotives. Lima Loco
motive gets the rest OF IT. Crucible
y Steel lis being accumulated again in
anticipation of some very important
\ announcements regarding finances and
orders. American Can sold off easily
Nh There lis growing disposition tc
buy good stocks that have been neg,
&14cted, and today saw the beginnine
- movements in general Electric, In
skerboroughNe preferred.
P~o2ies Gas. Vulcan DEFINING and
virginia Iron. Coal and Coke