The Richmond Virginian. (Richmond, Va.) 1910-1920, 1918-04-19
MOCK MARKET FEELS
IN BUOYANT MOOD

New York, April fs---Stocks wer'
4 almost huoyant again today WITT
unifed States Steel in leadership. Thf
ulo@e was strong al about the hes
& pr1r&s. Cotton collapsed twice curins
& the day, the extreme from high t6
low In the May option being two cents
= pound or $40 bale
Two factors contributed 70 the
Z strength OF stocks and the weakness
( Of cotton In stocks very S,yonE
s rocl has been formed with steel as
tAfc basic feature tUt with the IDEA
II nf masipu!atins all stocks. II Is N
ten6e6 To take advantage 81 any en-
\ crurageraert IN the way nf wa 1e%'
and The heay-, ppn7 hardment Begun
b. the French today "as the at
( fnencing factor Ia cotton tier" '7
rrcfeasionai short selling with the ~
triotic purr,ose CT reducing tho Gpe0-
nlassvr long interest 81 addition 70
which the crop outlook is remark aH.'
good. There e also . BIN IN con-
wTexs 10 FIX twenty cents 40 the max
smufa price for cotton as delivered by
! farmers
The break in cotton had great in
fuences or the ctock market for
rpeculatorr made ~ SITS i- Il ard this
encouraged them 20 70 intn stocks "a
they have not beer encouraged for
wrecks AT the low price Of TODAY
she May option was ST points under
The price reached on April 3 Tnat
- &Se.sS bale. II IS not expected
that cotton viii e. 70 twenty cents
In the option market even x that
Price Ia adopted for q ~nerS.
Appointment Of C. NJ Schwah a.
head Of the shipbullding enterprises
OF the Omitted States was cont4nu~
ting bail Argument = means more
than progress IN shlphuilding alone
III means that business men who are
experts In particular lines arc - he
In charge Of thoee particular lires
for the government That m cans
Big production ard victory.
The pool that is starting with
TTnfted Stairs Steel Is looking far
ahe-d Of the resent battle in France
1T realizes thai perha ps now Is the
~ro~st Of the war news for the allies
and that such an opportunity may
never core again FOR picking UP hssr-
Eatrs in the stock market
Another factor making for oHt-
Ynisrn in the INA rket was the state
yr,ert attributed tn Secretary McAdo0
10 the effect that the United States
had gone Tire limit in keeping peace
with Mexico. wall street hores that
this means that affairs south Of the
TITO Grande must In the future he
conducted in accordance with huEi-
ness principles Buying If sTuelters
and Mexican Petroleum came as a
result of this IN early trading
Specialties were most active. Anart-
can Ice made new high record, sell
ing mp more than three points. Malt
preferred rose more than two Amer
team sf1ipbuilding. four; American
Tobacco. four and seven -eiEhth~;
Gull States steel, seven These ad-
vances were hacked M in the late
afternoon hy substantial strength In
tho standard issues. Industrial Az
coflcI rose more than -four points,
Strength Of the Tobacco issues re-
Elected the increasingly buoyant con-
siition of that industry.
Even Motor stocks +oined in the
wdvance General Motors WAS the
leader. but Studeba-ker also showed
a net gain for the day.
There is talk again OF another at
tempt on the part Of copper men TO
advance the price Of their metal
Wall street Is not discouraged about
Fhe liberty bond @sae The fact that
the sales have fallen behind for "a
few days means nothing