The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-10-06
Of NEW HIGH
|||EG0RDs N MARKET
1.1Uor.Housc" Riplcy's Railroad
- Top Notch Figure Again.
4 Other Rails Active.
1UGARs on BIC BOOM
E1cnm xinc Astonishes Street With
80 Advance, Coupled With Ru-
- u Earnings Almost Equal to
NJ I1ng Price of Shares.
NJ RRnAnAN WALL.

f@s XoX York. Oct. swim nearly a
s0o9fe Of new high records. the stock
aGket went booming across the mill
sa1oa-ahare mark again today. 1t closed
- tAe midst OF trifling reaction. after
s14oot strenuous efforts on the part of
u1Ars TO get back the stocks that
may sold In the morning
Wall Street traders are still labor
zIMig under the delusion that the public
a&9 ~ ignorant OF financial affairs as
x4ywas In the big market OF 1901. They
sI49ot that the rural free delivery and
mrcet post and dozen other enanci-
znelone have raised the rural and West
80 stipulation to a mental plane far
sMAoSa that Of the average Wall Street
la. Wall Street 10 not playing the
Dnma with 'suckerF' this time. but
Win people who know at least az much
80 Wall Street knows.
Z Railroads LED the market through
fGak most Of the session. Early in the
sAay Atchison led with an advance to
anUSher new high record. and the
zHSaAers sAid WOE 10 me- again. New
York Central. Leh!gh Valley and South
- Pacific developed great strength.
All the railroads hung around high ng-
NfaA Even Denver and Rio Grande
tNf4ferred developed a real movement.
advancing more than four points.
Louisviile and Nashville sold at the
SA1ghsst price since the war. Kansas
sGaty Southern preferred. another
Saooeper. woke UP. The big argument
oa the rails was that they are selling
nv under their true value AZ measured
~ net earnings. and that the reguia-
'A1on Of y1bor by the government is
s4aing 10 op all future disputes,
q steel Not Much In Evidence.
lSsSass Among In Austrials Westinghouse was
i<nook In the public eye. United States
Zkoea stock was hardly in evidence, only
sNheMt 100000 shares being traded In.
has been dull for months.
8kn4 a will require several days like
T<41ny to bring II IN line with other
%nk1oks Of TITS class. II is not beginning
Ga<n -3oNi the influence OF the cash re-
s4u1ved for war supplies. Westinghouse
~ much trouble getting its factories
snMed mp. but now II Is said to be pro-
Moe1ng the best war material coming
ut of America.
Cd Railway Steel Springs led the rail
Way equipment shares by Jump TO "a
sAew high record 1t was followed by
AmoFfcan Car and Foundry. but Amerl-
en- Locomotive did not respond, Bald
VIII WAS I'm early in the day but lost
~ gain. Other war stocks were quiet
1agnrn Amonw Rerord-Breakers.
Sugars were among the record-break
~, Cuba Cane being the mos. active
The reason for this IL that the big ex-
sp0rts to Europe are from Cuba. Amer
s1caA Beet Sugar 10 TO receive a large
extra dividend early next year. Blu,
sven that 10 dependent largely on the
ssN1ectiCns. Cuba Cane does not have
I ~ worry about that.
American Zinc astontshed the street
With . sarp advance that was so tim ed
10 to b on the tickers about the same
tirne that a dispatch came from Bos-
.toa saying the company 10 now earn
ING II the rate of t3s n share. A,
/ Ahe high price today Zinc sold only
! M = share above its reported rate OF
Saarnings. The incident attracted much
attenfion, but X the report is follow ed
quickly by an official confirmation. Zine
VIII Be shown to be an extremely chear
ntock and one deserving Wall Streets
~a&tention.
Prices OF steel products as measured
NJ eight leading firms have agar
reached the new high record price OF
.soS1.6e d ton. The strong point on in
n Aependent eteel stocks LIS that the
bI9 corporation is filled up for al
- next year and all the new business
naust 20 TO new companies.
II IL important to remember thai
GOunpanies using the steel are making
their new contracts at high record
De1eas.