The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-08-01
ID STREET WORRIES
ABOUT us. FINANCES
Bankers Shed Crocodile
n TEARS Over Uncle Sans Imagf-
nary Ills
'nNEss CONDITIONS GOOD
Ww Munitions Contracts Mount Up to
III, 600 900 and, Owing TO Expert
q esscc Gained, Companies VIII Make
Larger Profits.
Rr RROADAN VAIL

I'm New York. July s1-stocks con-
*N1nued today the normal drift toward
EN19he- prices without new develop
nents of Importance Aecumuiauon
Y N large scale continues. The pub
q nc was still absent. but brokers re-
ported that the volume Of buying or
Aers Just under the market Ia increas-
1 tnE and is now much larger than the
selling orders,
Among banks there is worry In re-
ss0Ard to national finances, One i'm
*portAnt banker said that in view OF
THE fact that the government is en-
gst0ring on a period Of unparalleled ex-
penditures which will make necessary
1 The greatest revenues ever collected.
~ had serious doubts as to the ability
Al ~ the present administration 10 raise
146at money in such way as not 20
hamper business
Aside from this feeling the fnan-
) eial world is very comfortable. The
four cornerstones OF the market have
been fairly tested and approved. They
qare arbitration OF the railroad trou-
! Bile, payment by Europe for Aneri-
can exports In good Ameican securi-
4 ties, crops large enough to assure a
full freight movement. and general
similarity OF the leading national
1 platforms.
Incubator of Bull Markets.
ne New bEk ACHt ArtAp ~ -sao''
\ begins this week. and for years II
\ has been the Incubator OF bull mar
kets Leading men of the street get
n toEether on these cruises. excha nge
views and pump optimism into one
another Yachtsnen have been known
Y 10 rush to the telephones and buy
I stocks Immediately on arriving al
n Newport as result OF things heard
on the voyage This year they will
toll Of
!, will certainly set fire to the stock
market Within a few days there
mould be signs OF yacht club market.
S A definite illustration was given to-
day of what war orders are meaning
The Bahcock and Wilcox Company
paid its last dividend OF : per cent or
it's SIS 600 900 Of stock with the net
profits OF six million dollars Of wal
orders recently finished. Now 1t has
4 new order of sls.000.o00 and ex
II poets 10 make more than on the frs
II because CO The experience. This il
The only company making munitioni
that has had no reflections.
Tremendous New Orders,
sS Total Of war orders placed in tht
s. last two weeks is estimated at ahou
$4,000 This should mean a leas
n see 100000 Of net earnings divided
nmonr the various companies
N Although the national railroad
strike is considered no longer as {
menace the street does fear that
4 local traction strike is possibility
IT was understood in banking circle
today that directors OF the local trac
/ ton Companies had at a secret meet
& ing decided to announce materia
increase of wages In the hope Of avert
ing a strike They admit that wage
a In this city are much too low /
view of the high cost of living her
compared with wages and living Coz
in other cities.
Crop news WAS bad, but altogethe
in line with recent forecasts; that
Y had little impression on the marke
~ Some large sales of copper meta
were reported a prices slightly helo'
the publicly quoted figures.