The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-08-06
CHEMICAL
IS RALLYINC
The Low Record Reached and
Upward Trend Begun.
OPINION OF FlNANClERs.
End Of the Steady Declines In This and
Other Industrial Stocks Believed to
Have Been Reached-DorVnssard
Tendency General In Stocks.

The slump in tho values Of the COM
mon and preferred stock OF tho Virginia.
Carolina Chemical Company, along With
the startling and general decline recently
In the values Of all stocks and especially
OF .ndustrials gave rise to all sorts Of ru-
mors about Chemical stock, 50 much OF
which is held in this city.
One report from New York was that
the declines in tho price Of tho stock were
due to the failure Of the effort to COM
blne all the cotton oil enterprises, and
that embarrassment OF ths company was
impending. This report is denied In toto
BY Mr. E'ortesque Whittle. the first vice.
president OF the company. In a statement
to reporter OF The Times Dispatch last
night.
"There has been no effort to combine
the cotton oil enterprises BY the company;
therefore, no failure. The story Is made
out of the whole cloth and entirely with
out foundation said Mr.. Whittle The
report that the company was in danger
OF embarrassment was also said to be alb
solutely without foundation.
Mr.. whittle stated further that the OFF,
GERS Of the company knew OF no reason
for the depression In the stocks of the
company. but attributed 1t to the genera1
decline In stocks of all kinds. The pros
poets of the company are as bright rs
they have ever been. he said. He called
attention to the fact that the stocks had
both closed at an advance on the opening
quotations. thus showing that the tide
has again begun to flow and values to re-
assert themselves.
Expected to Advance Now.
The recent depression IN these stocks
Is attributed to the EN- oarrassmento OF the
Arm Of Sharp and Bryan, brokers. extern
sive operators In this stock. With the
failure of the firm 1t is thought that fur
ther declines are past, and that the stock
will advance steadily.
The common stock of the Virginia-Caro-
lima Chemical Company yesterday opened
at %, and closed at half a point advance.
231-2, while the preferred stock. which
opened at so, and closed at s5-a substan-
tial and significant Upward bound. To-
days quotations. 1t is confidently expect
ed, will show substantial gains In both
common and preferred.
The slump in this stock has been coinci.
dent with the general declines in, values OF
stocks OF all kinds. which are attributable
to the general lack of confidence in all
securities and the stagnaton in the gen.
eral market. AS an officer Of the company
said yesterday, THE present depression
seems to be due to the fact that there
are no buyers" This condition is not pc
cullar to this stock but to all the stocks.
1t is the opinion OF local financiers and
bankers generally that the decline In
values Of Chemical stocks is not due to
any real decline In values Of the proper
ties OF the company. but Is n mere Incl
dent of the general downward trend In
stocks. from which an early rally Is con-
Adcntly anticipated.
The July statement of the company
is quoted as authority for these state
ments and expectations. This made the
following showing: Cash on hand, s2,-
900 900; accounts receivable, s4.00o,oo0: I:
bills receivable. s4,5oOooo. This makes
total OF s1o.5oo,0oO, In addition to
which the company has merchandise on
hand to the value OF s5,6O0.oo0 In prepa-
ration for the coming seasons business.
The company owes bills receivable ST.
soO,0 ,0oo and to its subsidiary companies,
81 800. 900. and accounts payable OF about
5000, 900. a total OF about $4,000 EN-
cess OF quick assets over current liabili-
ties, about $1,000, 900,
The properties OF the company are es-
Tl,.r