The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-01-03
nlCE DOVE SCARED;
IN BRIDES CELEBRATE.
gA0 Street Securities Rebound Under
Martial Aspect OF News From
Europe.
STEEL is MUCH IN DEMAND.
Market Acting just Like IL Would In
vito Public Again Into Tangled Web
81 Speculation TO Get SCotched.
By BROADEN WALL.

New York, Jan, Passing of the
L peace cloud was celebrated in Wall
Z street today with material net gains
In nearly all active stocks, Profes
d Aionai traders who realized that some
time In the near future there must
be a readiustnnent In the market were
hurt as they went about feeling for
soft spots The only place they did
effective work was In the marines. In
I steel and in the munitions among
7 which sugars must he counted. there
) were quick rebounds after every at
i tack. Coppers did fairly well, but the
rails were disappointing.
A strong opening was expected be-
cause OF the sweeping rejection of tho
peace proposals But nearly everybody
IL coming to believe that Germany Is
/ willing 10 make greater and greater
4 concessions at brief intervals until
i peace is a fact Therefore there was
little enthusiasm in the BUN party.
The market acted as IL II were simply
ssrecovering from a break that had been
too great and too sudden. There did
not seem to be anyone In leadership
on the buying side. This made the
Il advance all the more impressive. for
a quiet market. no matter in what
direction 1t drifts. is always the more
dangerous to those who oppose It.
~teeI very AFftNe.
---S trrf furnished third EFF th~ day.
business and II was the gossip about
steel that frightened the hears. Early
in the DAY advice To buy the stock was
given freely In houses closely associat-
e ed with directors Of the company, II
was stated that the December quar-
ter would show about sle0 e0o 600 net
/ earned and that the common stock
would be placed regular per
cent dividend basis at the January
dividend meeting. In addition to this
some extra is expected.
strength in steel encouraged many
little pools in other issues particu.
larry in the munitions. Crucible steel
WITS In good demand by brokerage
house that has been very right on the
market and very close to one of the
! largest banks. The munitions were
bought IN spite OF circum stantial re
!. ports that tn. allies are placing as
many orders in Canada as possible and
that perhaps 100000 600 Of orders in
the United States had been cancelled
sale of copper metal at 2ac a
pound reported. This Is &c q
pound under the high price recently
reported Copper futures were also
Z. lower. II Is known that the insiders
of the big copper companies liquidat ed
freely AT the time they let il be known
publicly that they had decided to
make two new copper combinations-
one for export sales and one for pro-
duetion 1t begins to look now as
though they had repurchased a good
deal of their stock. believing that an
other turn in the market could be
made with profit.
Sugars We're strong
8 sugars were strong. largely under
influence of pool manipllation II /.
4, also generally understood that Ameri-
can Beet Sugar will pay IA large ex.
ira dividend in the near future II
could pay as much as 90 per cent. but
probably will not pay more than II
OF L.
Motors and tire stocks are not ma
& tcrtaiiy changed. although the tire
I compa nies announced advances oi
from 10 to 20 per cent in their p %.
ducts
Reports that the Germans would
blockade the British Isles. with q
= Meet of so uboRts was evidently put
out by bear pool for at the same
time an attack was made on Marine
preferred that broke II six points
& There was little recovery in this is-
sue. Atlantic Gulf and West Indies
was strong throughout the day beinl
at one time eight points higher. Il
Is whispered that the true reason FOL
the. weakness OF marine preferred i,
not fear Of J-boats. but a desire Il
gather up the stock I'm anticipation O
a material payment on the accumulate
j dividends.
Wheat was up as evidence that the
war would continue In view of h.
world shortage Of food this advance
5 In not conclusive evidence.