The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-01-30
5,TREET SEES SEES TAXATION
A MARKET DEPRtSSER
ears Saw This Is Reason Why 10
Many Wealthy Men Are Selling
Railroad Stocks.
ELI. RUT CAN'T DELIVER
rockers Market 5000 Pennsylvania
Sharcs Held In Berlin, But Owing
to British Interruption In Mails.
Certificates Can't Be sent On.
Nv BROADAN WALL.

New York. Jan 2S.--The weak over
ytenaed speculative account again re-
sserjed itself fn the stock market to-
ay and declines ranging from one to
ve points ensured The maximum
osses we're scored in such spec.altIes
Cuban-Anerican Sugar. United
tates Industrial Alcohol and Texas
'ompaay The close was weak and
t.round the low prices
Conservative brokers declared today
hat the offerings had a deeper found
e,ion than the mere selling by pro-
essionai shorts one broker said the
;row!ng agitation for increased taxa
ION against the wealthy. IL caueinC
many wealthy men TO dispose of their
aoldinxs Of American railroad stocks
his. in addition to the steady foreign
cling, accounts for the pronounced
weakness of the rails.
The market opened irregular. with
srnsli fractional losses and gains dis
ributed throughout the list. Brokers
reported very little demand for shares
.o that offerings caused further re-
cessions to the lowest for this move
nent Toward the end OF the fret
hour there was slight rally, due TO
buying by shorts, but this was follow
ID by another weak spell on which
the lowest prices for this movement
were esta blished. New Haven was ono
~ the soTtest spots on persistent re-
ports that the company was consider
ng he issuance of from $50. 900, 000
% $4,000 900 OF preferred stock,
which would naturally have priority
as 10 dividends over the present
shares This induced selling OF the
'hares tn increased volume and result
I'D In a decline 81 about two points.
part Of which was recovered before
he end OF the session.
Holds Germany Out of Malls.
Z Several brokers Informed .he writer
odsy that foreign selling Of Ameri-
an securities would he Increased by
TerinEs from Germany were II not
r the restrictions placed by Great
r!Iatu on the mails The writer Is
formed that one firm with German
fiitattuuz had been trying for some
me 20 sell 5000 shares of Pennsyl-
mia. the certificates for which are
Berlin This firm recently disposed
3ooo shares Of Pennsylvania, but,
ing unable TO deliver the certificates
nil the restrictions on the mails are
moved. i had To put up other shares
h ~ brokers as collateral As tho
n has no more stocks to put up
collateral against the sale Of the o.
shares of Pennsylvania, and a. Il
nnot deliver the Certlhcates. u -
able to l3qlidate them.
He;ty Green iS now mentioned IN
All street IS among the wealthy
sons who recently took part OF
$4,000, 600 New York State bonds
m the First National Bank, which
in the highest all or none" bid.
The writer learns that certain Wall
eet bankers are trying to place
% Geo 4. World Film bonds al 95,
bonds are convertible into World
n stock al IA.
tailroad earnings statements con-
e very substantial, large increases
z reported for December by the
Pau Philadelphia and Reading
bash and Canadian Nothern
siden, Hannaford Of the North
Pacific, says the January state
4 fer jhat road will be the best
any similar month In the history
he company