The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-05-09
DFEsSI0nlLs GIVE
l|BLIC WARM WELCOME
- Dear "Peepai" Are Buying Again
b Wal Street and Dealers
Arc HAPPY
BANKERS PLAYING SAFE
TIER Arc Taking Railroads Which
Have lntr1nstc Value Behind Stocks
High Prsccs Cause Reduction Of
S<cca Products Orders
fRr nRO4pay WALL,

New York May N-Everything
done n the stock market today EN-
I phasssea THE fses saas the move
taenes we're professional Traders
4 were exrecst2g tie 2uhlic TO buy and
were N~s ssargosnret The public
Ers q WAIT. reception and the pro-
fesssersa. s-s4z <s<~eSs
AssAezxs c~-se-~ative houses ad-
xssee saxs4za sv~> In buying the
saH-~&s s=sesss Business was on q
vx.as.- srras sale Practically
ksssrss sss1- svx-cN3 was under !nfIu-
~rsSs 80 ss-eos rssGsnulatior. United
Fr-1ss vas sAs cne doubtful issue. for
sA~gr~ = gsasss HE that the Ameri-
gIr International Corporation Ia
sesRS-g ss-xer interest. Suhstan-
sSsa na-ssrx Interests were careful to
40 -rsssrx TO in3ure the market fer
-Aev are willing 70 see Il advance II
n CAR he done without too much help
on stsetr part. Therefore they played
the part OF safety by taking railroads
*Ans hsve the intrinsic value back OF
the prices to a greater extent than
some of the industriais that were ac-
tive. The industrial list were lfoui-
dated. for II was industrials that the
public wanted
Union Pacific Moves Up.
When Union Pacific moved up In
THE early trading. the street was full
Ut the rumor that an extra dividend
nj per-cant- would be declared
sometime this summer.
n Buying OF Reading was first class
gain and this time 1t was said that
the COMPANY would shortly distribute
J ~ \ special dividend stocks of sub
!. siioary coal company
Il Reading is selling too high for its
dividend and the buying In too good
q to be based en- amy mere professional
i pool movement There Ia no question
Of II being for account OF insiders
particularly as the public has but
COMPARATIVELY little OF this stock
Buying Of steel shares and particu.
larly OF the smaller companies was
FIRST class One OF the new favorftet
was Gulf State Steel which is reli.
ably reported to be earning above "a
Z per cent. on the common stock
Orders for steel products are said
TO be falling off because the advance
of prices that went into effect May
was well advertised prior to that ant
most big companies got their orderi
n on the books in April. A large In
crease of capacity on the part of tn,
mills Is now becoming effective ant
consumers feel that prices must b,
marked back to where they wert
orders.
Although the numbered wells pre-
4 ducing petroleum has increased re
gently. the combined output of al
wells In the United States has de
creased materially. The deman,
from foreign countries Is insistent.
All materials used IN drilling ant
maintaining wells are materially in
creased. Demand from automobil
lists has not been curtailed by higl
prices and the number OF cars in us
Is constantly increasing. The war Il
Europe has interfered with produc
tion In those countries and thei
wants must be supplied chiefly B.
companies doing business in tn
United States and Mexico.
The outlook for copper producer
y growing even brighter than It ha
Deen recently. Prices for the meta
are steadily climbing both In tn
United States and abroad. The fac
! that prices In England are slight
higher than in this country woul,
Ueem to forecast renewed inquire
\ here for additional shipments O
copper TO the continent.