The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-05-23
READ|NG, D. ?. AND GAS
ARE MARKET LEADERS
Reading Sells At Highest Price In Its
History, showing Distribution of
Its Assets Near.
MAY CUT GAS MELON, TOO.
American Locomotive VIII Give Half
OF Its Nine Million Dollar Order for
Fuses TO westinghouse--Big Shell
Order to He Placed.
Rr RROADAN WALL.

stock market today was technically
correct. There WAS strong openlns'
and reaction and then hrst class
buyine OF few railroad readers 10
sustain the list while industrisls were
sold. This is characteristic OF Mon
aay session in a bull market and the
very reactions were encouraging 10
veteran traders Leadership was d.
ylded among Reading, Union Pacino
and the gas stocks. Reading so!d AT
the highest prices on record, whlIe the
Union Pacific made a new high record
for the period since The war.
Tobacco stocks we're higher.
In the autom obile list erraono
movements were seen, with CneVrolet
making a new high record price anu
WHY'S Overland making another up
ward surge of ten points
Assurances by the United states
government that the petroleum re-
serves ofsthe United states are henng
rapidly EXHAUSTED has not made any
material impression on the voluIne OF
automobile business,
5. Union Pacific Leader.
II has been years since Union "a
c.fc was leader OF the stock market
and profea s.oual traders welcomed II
today when il Joined Reading at the
head of the list. Its earnings justify
months of this fiscal year It earned
7i.ss per cent. which is at the rate
Of above IA per cent FOR the year. II
couId easily pay the extra dividend
Wal Street has been talking about
and particularly SO now that crop
pospects have broAdened materially IN
It's territory.
Consolidated Gas IL understood to
ne earning at a rate that should show
nN fNr
cess Of the 1915 earnings, This VIII
be about ! per cent extra on the
stock
Consolidated Gas and Rea ding have
consistently concealed thsir pius
earnings for many years, In both OF
,h<r, there have been false rumors of
distribution. Now that Reading seems
IT Hast ready to make such dstri-
button. the street is hopeful that Con-
solfdated Gas rncy do likewise,
Erie Being Bought.
Erie is being purchased by the same
neople who bought more that 100000
shares OF II about for years ago when
President Tnderwoo6's policy OF i'm
movement first began 10 make an i'm
preston on Wall Street II is the
general opinion that with a double
track 20 Chicago and with the easiest
grades between here and Chicago Erie
ought 10 make Il &hV~aAA+
The Erie insiders are tired of hav-
.nr the property treated by the pub
tic az q joke and Judging BY the way
earnings are piling up. IL has now
ceased to be such. Wall Street is pay
ing respectful attention ana. owing
the low price and the good manage
rnent, Erie promises 10 develop into An
active and popular trading issue
Erie .s earning dividends even on
~ k.a4t n
no prospect Of any being paid even for
speculative purposes. -,
Get 80, DOC, 900 Order.
President Marshall, OF the American
Locomotive Company, announces that
the company has received an order
from the Allies for 100000 fuses, 20
cost 80, 10000 TO he delivered before
December al
one-half Of this order will go to
the westinshctrse Air Brake Com
pany The Nathan Manufacturing
Company which is affiliated with The
American Locomotive Company, WITH
make some parts OF the otrer half Of
the order.
AS a result Of this order there was
good buying Of Locomotive stock. 1t
is reported thet the American Loco
motive Compeny and Baldwin are con-
siderinE the erection Of additional
munitions factories TO take care Of
new business ben offered
Great Briteiu's recent call on mar
RED men up 70 ~ years Of age ia taxi
ing thousands OF workrnen from mt
niEons factories ana the business Will
have to come IN larger measure from
the United States II the present volume
of supplies is 10 be maintained.
British agents are understood to be ar
ranging 10 place in America an order
for about SO. 900 600 worth Of six
inch shells
Disappointed holders If Distilers.
purchased recently in expectation OF
an advance on announcement OF the
per cent dividend. began 70 liuuidate
their stock today and IT showed fur
Their decline Of 81 Ia