The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-10-26
JOHN BULL WANTS
ANOTHER BIG LOAN
Asks for Three Hundred Millions
Pocket Change To Help Garry
On His War.
COTTON STRIKES TOP NOTCH
Then. on Much Profit Taking, laEs
Violently. but Receivers Part al It's
f.osse~--Wheat Ip to New High
Records
IN RRnAn\N MNII.

New York. OCT, - Announcement
of the new British loan oi S5Vo,t"".-
GOO this evening explained the recent
activity in the stock market MIS-
acknowledgements Is uu surPi ise h"ca
the financial Worl6 has believed some
thIns or the k-r1 was tn v'r& II IS
broucN. ou' osrHrr tina" nf3H'"iS.
might have been tE. case n' ta%e o..
the rand growth Of wilson sent mont
The bankers feel taa; THIS tnaaetnE
should hr done bofoTe clc'IoD cav ID
order to make certain Of strons
stotA market fer - laUnchlnS.
Nor that Wilson'S election VIII
break the stock market for certain.
hut that the growing fear OF such a
thing VIII cause many persons to
withdraw until there r. a definite de-
-ision wilson's ham rions claim his
election will be the biggest bul card
wall street has ever had since the
war began.
A leading operator who Is the Pres
idents spokesman In the financial dis
trict says hat Wilson is the first con-
structive President the country has
had for many years. Since MckIn-
iey's time the Presidents have Wed
with one another IN attacking high
finance,
Necessities Of the allies are so great
fHat lheS AdU tHhf 40 AbAi3NE VI IL ~
ure ia this new loan. The early an
nouncenent OF I IS therefore no CYL
dence Of a political scare, but simply
proof Of absolute caution.
Bethlehem steel preferred was
moved up 8 "a points to new high
record Of l55. General Motors adj
vanced > points to the new record
Of $50 Sears-Roebuck advanced more
than s points and Industrial Alcohol
more than La the course Of the
Hay new high records were made by
American Beet Sugar and Cuban Cane
Sugar on the curb one of the hlEA
grade new copper stocks. Magma Was
suddenly shot NJ 80 yer cent of It's
quoted value
But the most Impressive buying
among the specialties was IN Rock
Island and In Minneapolis and ST
Louis
Rock Islands Big Earnings,
The Rock Island buying was at
first supposed TO be run against the
shorts. 1t was only after the market
closed that the true character Of this
movement became known. The stoc <
was purchased BY two very important
banking houses interested in the re-
organization. They are buying tho
stock because earnings have grown
10 such volume that they look upon
the payment Of sac a share for which
rev preferred stock will he received
merely banking loan Earnings are
RAINING SO high that the stock re-
ceVed Tor this money probably viii
be selling In the market for more
than ii cost at the time IL IS issued
and therefore they can have II bac}
Immediately The injection of all thu
assn into the revived arteries Of the
Rock Island Will make It once more
leading railroad and Its stock
high grade investment.
Minneapolis and st, Louis stock i.
being purchased because its stock
holders have such faith IN 1t that they
are voluntarily assessing themselves
$40 share.
The long expected crash in cottoF
came Just before the close Of the mar
ket Options for May and late
months had crossed 20 cents wher
overwhelming sales from the Yves
brought about a break Of 40 points
i was like the old panic days at thu
lose Of the Suly campaign for a ia
minutes From the bottom there wa
rally OF 50 bale, The marke
Iosed feverish.
Wheat also was up to new hiei
records, some options rising NOR
than cents in Chicago. but whca
held fairly steady to the very close