The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-09-17
Ifu ll@ RECORDS
nlDf BT MANY STOCKS
1nesa. Weu>crn Unfou and Half Dozen
HaGhUaAs IN New High
TcRT4tory.
MARINE ALONE DESERTED.
Fear That suknnAr4ne Warfare Had
Doea Resumed Caased Selling OF
Shap OAock-eeeei Directors May
Pay Bag lamp Dividends
Nv HROADAN WALL

New York. Cept- lo.-WitH Stooa'
western Union and a half dozen raii-
road stocks making new high RECORDS
On the stock market today II was no
surprise 10 nnd that tho actual loans
a the close OF business Friday night
had increased t4.244,0oo. 1t was
surpF1ss however. that the surplus
showed an increase OF sls.14esSo and
the demand deposits s1o.los.ooo.
These latter figures are accounted
for BY the great sold importadons-
The average statement showed an IN
crease Of ss.sse:sso in surplus de-
crease Of $4,000 IN loans and an In
Grease In net demand deposits OF
31,tes.eoo.
0toolEs opened with rush OF new
hfgh records, were strong and active
thrUuehout the session and closed
with Seeei near its new top OF los'
The public 10 something in at a lively
rate and wall Street expects big
tfanss Monday.
Steel had two distinct movements
into new high territory.
The nrst was almost Immediately
after the opening and carried the
stock to 1o7 IA. At nearly the same
tine western Union established It's
new HIN price hy crossing fo1. The
haet that these two standard secur-
t3ss were selling at the highest prices
they had ever touched and that even
those prices did not discount their
marveious earnings. caused consider
able excitement In the street
Rails followed strong but in the
short time trading again returned 20
the Steel shares and was not unnatu-
raj
MArtae Deserted.
Marine issues alone seemed de-
serted The reason for that was
clear. The addition to the sinking
OF a ship under such circumstances
~ TO fear that submarine warfare
ma be resumed. It is hard to see
what Anbod can do about these rates
for the shortage OF vessels In well
have been living in poverty 80 long
that they now propose TO make some
money Epecialties received much at
tentfon after the big stocks got NOV
ing Pfttsburg Coal was picked up
cautiously because Fl. G. Prick issued
such q buIlixh interview on business
May Pay Lump Dividends.
steel directors are now said 70 be
planning one lump payment In cash
to make MP The steel common divi-
dend Of f1ve per cent since organiza-
ton. There 10 cash enough on hand
70 do this and such action would not
be cone.dered the least bit unconser-
vative In view Of present earnings.
western Union 10 understood to be
earning not less than fifteen per cent
Of fts stock. II is paying Ave per
can't and IN increase il expected as
. matter OF course.
Among the rails Union Pacifc was
<hs leader and established new
high record for the movement by SELL
ing above 146. Other records were
made by New York Central, Great
Northern preferred Northern Pacific
and Ct. Paul. Atchison sulked around
1o7. but the buying in II was all the
better for that very reason. for II
II one Of tho best Of the railroad IS
sues Chesapeake 4 Ohio was a
strong feature. It's directors will have
4 meeting week.
Railroad equipment shares were
strong In anticipation Of big orders
for repairs and betterments. Unof-
hciAi report said that New York Cen
tral had already placed an order for
several million dollars worth OF loco
motives