The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-03-02
VERDUN CONTINUES
KEY TO WALL STREET
n Germans Win T>r4cr~ win slump
If They Lose, stocks win Go Up.
l. the Dope"
SPECULATION is DANGEROUS.
No Onr knows What Day MAY Bring
Firth. When yaIue Win N"t he
Considered In Frantic scampcr I"
Unload.
pv RRoADAN WALL.

New YORK March THAT NeTdLh
IL ire KEY 20 the stock market was
proved again in Wall Street today
PreS.dert wilson's demand that con-
cresHn7eu show their colors caused
break In She early trading From that
there was a slight recovery when II
was made clear that Congress would
show the night colors Then All
Streets mind went back TO FerduH
The market broke badly IN all dFec~
tons News that hghting had eeen
suspended temporarily was Followed
by a sharp -allS. N me MIDST o.
which the market closed.
wall Street proposes. - walt I'M
rattartlv until the battle OF Nerdun In
decided, - the Germans win. trad
erx propose - sell - many stocks as
they can as quickly as then can. They
Will DO this because they believe
victory will encourage Germany 70
defy Prestdert Wilson
n the Germans lose these same
traders will buy freely becaus" VIII
mean heavy replentshmen 0f am
munit.on or the part IT the Amos ana
a prolonged war wall Street d. not
believe that Germany can Re beaten
IN arv one battle however terrible the
losses may he
On Razor Edge of Uncertainty.
Therefore. the market stiil stands
pfvoted or the razor edge OF IN
certainty
copper stocks proved their mettle
today in the rout and several 81 them
actually closed with net gains pts~
ttllers Securities and Industrial Alco-
hel both Of which companies have
important ron-car cellaole contracts,
we're other strong features,
People Too Busy TO Smoke.
The refabilitated Pacific Mail had
ret advance Of two points Rect
Sugar moved up IN expectation OF
dividend II is earning. 80 tts insiders
gay. above 81 par cent on the common
stock, American Can was disap-
pointrnsnt for II broke to a point that
In but a frtfs above ifs rumored net
earnings Tobacco stocks were heavy
xnd for very good reasons. Tobacco
profits are shri mixing as people are too
busy to smoke and rs labor and ma
teriAis are higher
News that affect prices ~ ~ such
nutlic character that there are no in
wade~r The ten-share trader will
know lust as quickly as J p Morgan
the news that is going 10 cause move
rnents.
The inevitable result is going TO BE-
that come day Wall Street will look
like a European battlefield. and the
beauty Of 81 from q speculative point
of view, that the day may be tonnor-
row or IL may not come for three or
four years, In the meantime, target
practice.
The investing wing Of Wall street
aId no like to hear about the large
orders for steel placed by the rail-
roads Railroads were reported today
TO be placing orders for both rails and
cars running into 1917. and at fancy
prices II the railroads were doing
come r@-ansnctng no az To take 40
vantage Of the cheap money now Oh
tainanle investors would feel that
there was some com pensation, but
ment
Money Cheapest Thing Going
Never before in the history ~
America WAS money 80 cneAp and
never before were building materials
no high The railroads are taking the
high materials and leaving the cheap
money. II Is true their earnings are
zach as 70 put them in funds for ex-
penditures but there are tens Of mil
lions of securities outstanding that
should be resdtuEted 20 great advan
tage now
High prices paid now for material
will leave their mark on the Fixed
chargea long after this war boom
passes away. and so would the cheap
money ~ II were taken advantage Of,
while the public attention is center
ed upon the big labor troubles that
affect the railroads and coal mining
companies as institutions, the country
IA g3,ff OF little iab Dor strikes that mean
much 10 business in general. Every
day or so there is a local strike OF
some kind, particularly among freight
handlers. drivers and woTkmen for
individual com panies