The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-08-08
II STREET GUESstS
IS TO CROP REPORT
s1.nmrnt Figures VIII BE Made
a611c Today and Cause Largo
Interest On Street
lxTEEN CENT COTTON COMING.
Deneral Belief In Wall Street Circles
That Rig Railroad Labor Question
WIN BE Settled to ssatisfacu IN Of
4 Empioyes.
Nv RROAnAN WALL.

H New York. Aug 7.--As the govern
n1ent crop report will be ISSUED to-
Snofrow, Wall Street did little To-Day
5sbu. guess at its figures, Price changes
were not important in any issue
Grain declined two cents bushei,
u Whereby recording a belief that the
i bAd crop report had been discounted.
\ But cotton advanced dollar a bale
Tor the world does not seem even yet
70 realize that this country, accord
1ng to the government repor-- will
producC million bales less than the
ordinary consumption.
Expectation OF speedy settlement OF
i The LEGAL traction strike encouraged
belief that railroad wage dispute VIII
be ~ quickly settled. There seems
no room for argument in either case
The New York Railways Company and
Its allies here have been paying less
than the standard wages for such
work. with bonuses going 10 officers,
II was inevitable that the men would
threaten TO strike 20 get square deal.
The affair has strengthened the rail-
road employees nightly. Phenomenal
earnings by the steam railroads have
nor been accompanied with an ad-
vance OF wages as has been the case
in many industrial concerns. The
weak feature of American railroad
management has always been eager
ness of managers to do things affect
ing the stock market and unwilling
ness TO give a fair share Of profits 10
their men. The fair division has al
ways come ultimately but always
after aght or the threat OF one. This
record is making IL increasingly easy
for the men to get what they want
and the railroad managers are even
now preparing TO meet the demands
OF their men
Paying Extra Dividends.
% The extra cash dividend that some
directors of the Union Pacific want to
declare at the end OF this month. IL
illustrates the situation perfectly. The
money is in the treasury of the COM
pany, the employees know II is there
and the directors iStend to pay the
extra dividend.
Bur they hesitate to do so now, not
I for the alleged reason that II will stop
them from saying they cannot AFFORD
TO grant the demands of their men
The official reports of earnings al
ready do that But the real reason
whispered among bankers Ia that II
would be a pity 70 waste such a
splendid argument on such dull mar
ket. i. would take in the neighbor-
hood of ten million dollars TO pay
che dividends That Is all there would
he in a fve-point dividend at this
time, perhaps. But by withholding
the actual payment and yet admit
ting an intention TO make 1t, Away
4 in the near future. those having cor
rect information" should be able t.
4 get 20 or 80 points out of the stocI
VI instead of only a paltry FIVE.
So bankers are advising clients I
be patient in Union Pacific. but to b
sure of having some In the famil.
The law places IT absolutely within "a
discretion Of directors whether an
when the dividends shall be paid
Copper Improves.
Conner was better today. Tho meta
was reported stronger and~tlse stock
showed some life
shorts in Nickel got lHtle comfor
out of the reduction of the dtviden
from 81 to $50 for the quarter. tn
reason this is not bsAFssh on the stoc
is that the money r. to be used con
xtructing an additional reducto
plant The company has on Its book
the greatest volume OBJ orders in fl
history.
Only two stocks made notable ad
vances-United Yards Extension an
n Consolidated Gas. The former is on
Il of the comparatively new copper com
panies that has cut on its territory IN
great veins that brought fabulou
wealth 10 Senator Clark through hi
Verde Copper Company. Gas move
ND apparently for no other reaso
than that. like dozens of other stocks
Ii has been selling too far under Il
Intrinsic value.