The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-03-05
STOCKS QUIET IND
| NO DECISIVE TREND
qts Condition II Tcchnacally Strong,
and II WIN Ssand Up Wen Under
BAD News.
MEXICAN PETROLEUM ACTIVE.
Ono OF That Coanpany's Spouters LIS
Producing Az Much Oil As Entire
! Mid Consdnent Fields Of the United
States.
nv BRoADAN WALL

New York, March 4.--StoCks were
quiet today without decisive move
.nsnt in either direction. Professional
traders have oversold the market and
Substantial investors have overbought
II. Conditions are such that very little
good news should result In improve
mont on Monday. while 1t would take
some decisively bad news to cause
break.
Banks report brokers' loans in good
condition and brokers say there are
practically no weak accounts for
customers. All the nervous little peo-
bile have been frightened out by the
dramatic events OF the past week.
During the week the market mas
stood up under news that would have
caused disaster IL there had been any
technical weakness in the list. For the
drst time since war began there mas
been public discussion In Congress OF
the possibility OF actual participation
by this country in the war.
Ola market operators seem to be OF
the opinion that the country and In
rosting public have become so ia
|nilar with war that actual participa-
lion by this country would not fright
IN capital and this Ia one of the
strongest features Of the market. The
only weak feature is possibility OF
eariy liquidation of the 1000, 600
bhares OF American securities &C
eumulated by the British govern
nsnt.
Markets Strong Features.
Among the strong features in the
ntock market today were Mexican
Petroleum. the Sugar shares and To-
6acco stocks. The first named con-
1nusd it, rise because Its new well
10 able to produce as much oil as the
hutirs mid-continsnt feld OF the
limited Etates--more than the entire
state Of California II producing.
Sugar stocks were strong because
Be the sharp advance In the price or
That commodity. Cuban sugar Ia re-
)iably reported to be earning more
han - per cent on Its stock. That
issue was up eight points today. South
Porto Rican was higher and American
guxar, one OF the speculative favorttes
)n Wall Street. showed some life Tor
The first time In many months. IT II
sntireiy possible that SPECTATORS may
Rally around their old favorite and
X they do. Wall Street will be treated
10 some fireworks. for the sugars are
loaded with money.
Tobacco Stocks Active
Tobacco stocks were active and ad-
kanced sharply an part OF campaign
announced by insiders, the object OF
which In to liquidste on a rising mar"
ket because profits in the business are
being reduced by the high prices OF
labor and materials The tobacco
movement, therefore. must be regard
ed as highly speculative. although
operators believe IL will be profitable
while II lasts
Railroad earnings are not only
Knowing great percentages of improve
nsnt over those of last year. but are
actually making new high records Tor
kolume. They are doing this In spite
BIZ the fact that the railroads are I'M
Abfs 10 get free movement of all the
sfuff offered II was reported today
that the roads are ciuttered up with
millions of tons of freight which can
hot be unioaded and charged for be-
fAuse the roads are unable to clear
kheir terminals This congestion IL
n0t MI due to the war business. for
ne whole country is waking up and
buying goods on a heavy scale
Has asa Varieties
The Corn Products Company is said
10 b making 25s articles out OF corn.
Eome or them are useful IN the war
ma are being sold at good prices, II
n understood that the government
rave up hope of decided victory
SrAinst the company in the Sherman
hntf-trust law suits after an inspec-
hen had been made OF the factories.
since the Standard OIL people got
eontrol OF the Industrial Alcohol Com
bany through the purchase OF the
bhares held by the Dfstiilers' Corpor-
Alton, 1t Is said that some remarkable
have been made. Aico-
hol like Petroleum. Ia capable OF
multiplicity OF manipulation. Several
Products are being taken from II that
IRE sold NJ fancy prices for war ma
arial and the alcohol Is left better
Tor their extraction. The Dupont
company IA one OF the largest CUSTOM
krH of the alcohol company.