The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-03-01
IN STREET RIGHT
ON RAGGED EDGE
While Balance of Nation Is Attend
ting 10 Its Business, Street
Worries Over War.
BETHLEHEM HARD HIT
Down Nearly TO onc-Half OF Its High
Water Mark Pricc--IuvcStors Want
stos Know About Shor-Tcrm NUM-
sitons Notes.
Nv RROADAN WALL.

New Y ork Feb. 2S--As the country
aages closer and closer TO- war Wall
stree becomes less certain that IL ~
gasns to send stock prices upward
i9sorab BILE report tins afternoon on
4 he Flood bill. empowering the prcsi-
lent to act. started a selling move
sfent which was increased by re-
sort that four German submarines
s.iad been seen off The coast of Cuba
Wall street feels that the sailing Of
ormer Ambassador Gerard Is also n
nomentous event. for he evidently
,as some information that he is anx-
Gus TO impart TO the president, but
hat he dares not trust to any known
method OF communication. In Wall
tract the feeling is strong that Presi
lent Wilson's hesitation Is due 20 a
lasire TO discuss the situation with
Gerard.
>~s Bethlehem Breaks.
The stock movement that psrt!cu-
arly disconnected traders was the
freak In Bethlehem Steel to the low
st price II has rea ched since its spec
acuiar upward moving. The voting
stock sold down nine points 10 l2O
md the non voting broke seven ard
,nc-haif points 20 06. As there sTe
shree times as many non-Yoting as
V0tS3fK SHaFPRs anu as Az" 3 hSti WIS
oa1d In on the voting stock, the fig
urcs mean 362 for the old stock which
iAst November sold Al 700.
IF the acceptance OF British short
term notes has broken Bethlehem,
the admitted leader OF ali munitions
stocks. so much. what must happen.
aSka the street, to those other NUM-
tfons companies that have accepted
tens Of millions OF the same notes
ana are concealing the fact? Wall
street begins to feel that there should
b. some publicity in this matter. 1t
10 known the notes have been accept
Al II Il wAs gnod business. why are
they concealed Can II be that the
directors feel personally responsible
The break IN Bethlehem was ac-
r6m panied with declines running
point and more throughout the en-
tire list United states Steel was one
Of The most active and weakest Issues
That Il ala not sell down much is
due TO the fact that IT ia cxs3 a
share dividend tomorrow Thousands
OF people are holding It 70 get that
dividend. At the same time that the
stock market was weak, wheat prices
were active and n CHER, July wheat
In Chicago was up { cents a bushet
Italian exchange at about the same
time Struck new low record of 7.62
The normal f. s.fs. Hogs in Chicago
sold al the highest price for all time
when they touched 8 So a hundred
weight,
Alcohol Goes Down.
One Of the freak movements was a
break in Industrial Alcohol II there
is .zany stock that Wln make money
out OF "A war It ia this companys
stock, for alcohol IS absolutely neces-
xary for the manufacture and keeping
OF smokcless powder. II IS true the
company has invested heavily In
piaHts. but those plants are all pro-
snucing. and there rs market assured
fUr everything they can put out. An
other freak was the low price Of . -
for Distilers That company is pay
ing per cent dividends. which means
that II is selling on an Investment
basis o. about 90 per cent Accord
ing 10 official Information given In
formaIiy. the company IS earning
more per year than IL IS selling for
on the market. Il is also producing
a necessary war material
About tho middle az the last hour
some short covering was INDUCED in.
and this started a rally. Long buy
ing. however. was not ~ evidence.
Those persons who are willing TO take
a position ON the long side Of the
market havo their lines ~ stocks and
are very conservative ~ the moment.