The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-06-27
STOCKS EASY To BUY
AT MARKETS CLOSE
Rnosrvc.t's Endorsexrsens Of Hughes
Fails HAT As Real Wall Ssreat
,- &C.. Feature ....., ...s
CORN PROJECTS MUST DISSOLVE
Makes United States steel snd Amez1-
can Gan People Wonder II some
thing Won't Drop On Them Too,
Sometimes,
,Bv RROADAN WALL

New York. June 26.--Stocks were
s. easy 10 BUY arSthe close today that
TIE saa4 group OF professional traders
which alone has been selling short be-
came a rifle alarmed and several OF
hem viii begin covering on a weak
cpert-< tomorrow morning Stocks
,.eve.upeE weakness progressively to-
dsv ard although there we're few
s1cklv rallies a. the close the liE was
IL Aad shape technic ally II 10 al
~ars when stocks look as though the
bo:tcr, would drop out hat tie un-
expected happens and that s why
veteran professionals are beginning 20
Zee :. Is .co essy to buy ssocks 20 be
natural
Fossi billy Of waz With Asxco. BAD
crop conditions, renewal Of J-soat &C
ftvt.ies and preparations for the ol6
drive % ~. Allies n Franco offer no
~6l-p~.t-t . buy stocks Besides
Roosevelt has now given HE unquali-
ee@ endorsement 81 Hughes and MS
74ra~ ran sse no reason for ouyng
Meuoan Petroleum Active,
Mexican Petroleum WAS ore 81 the
.~.1et active issues of the day and sold
FsA EoEnts - rallied only
8 7o.-, from IRE lowest srreiters and
states Smelling were weak.
-. y5' srt3Ts
Nf-r, prominent q the DAYS active
s.--ss were corn Products It's com
sre "a points This was re-
cit ~ United States Courts decision
u ordering dissolution Of the concern
r. he hope OF stopping the decline
m 7frtial announcement vas made
"a. Tisns are maturing for paying
-c17r-- mated dividends 81 a-cat
~ per cent on the preferred stock
ana reducing the capitalization Trad
c~s paid 10 attention to this an
confinement The company owes in
hack dividends sbout $500 900. 1t
has a surplus Of about $1f.2b0 600,
and It's earnings are now at record
Nrlres
could. therefore. pay off these
back dividends Easily and since Presi-
dent Bedford went on record today
with the opinion that dissolution as
ordered by the court would mean very
so.s osseR il Is quite probable that
reorganization of she company's
finances will be completed while the
present board Of directors has legal
rC~ltv 70 direct tho work rPrest-
dent Bedford SAVE the bad feature OF
the dissolution order Is that the
various concerns have been organized
so that they dove-tsiI with one an
ether. no one Of them making a com
the company would be broken into
groups Of inefficient units.
Hurts Other Trusts
The Corn Products decision natur~
ally hurt United States steel and
American Can, both Of which are stu
within the jurisdiction Of the courts
II has been the belief Of lawyers high
in financial circles that the suprem me
curt would ultimately order disco
luton OF all these companies. but they
nave not feared that result because
present large earnings will enable the
various com panles N 60 ahead with
efffcient work Brokers do not care
because IL will make just 80 many
more stocks on which 20 earn com
mission. This dissolution, however
vii! furnish much ammunition for the
Large War Orders.
Little enthusiasm is displayed over
the Mexican war and tho big orders
~ may bring 70 manufacturing con-
Germs me government mas already
~dered about s3.00000o worth oil
wooden clothing and now vants 1000
motor cars and 100000 pairs OF
SHOES Such figures would make
great impression under normal cir
cunstances. but they are sns'l COM
pared with what the Allies are order
ing Westinghouse, for instance, be-
ran only today to deliver rifles at the
rate Of 900 Il day TO Russia 1t has
1900 900 rifles in the Russian order.
ship shortage Painful.
T-he pa nf:i shortage of ships was
made more apparent today through
the report that 4 600. 600 sacks OF
grain lsinx al Argentine ports
ready for shipment but no ships are
Ava!la bic. There is plenty OF food
plenty OF petroleum and gasoline In
tbs world--plenty OF everything buI
the trouble is with transportation
so'h nY sea and by land, The ex-
oorcn the railroads IN the
United States are overcrowded win
business - shown in Atchison's report
.ar Man which was published TO-DAY
rr-e rrrc.ee RhnRed a gain Of AZ 26A. az