The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-07-14
COTTON oil AND
SUGAR IN DEMAND
STOCKS OF THESE COMPANIES IN
STRONG SPECULATIVE POSI-
TONS.
AMERICAN ICE HARD HIT
Small LDEALERs DOUBLE pRJtE.
AND BLAME MIG COMPANY
FOR THE ACTS OF THE
OPPOSITION.
tBy Thomas c. Shotweil. ,

NEW YORK, July f3.-Rain in the
corn belt this afternoon put the stock
market up and broke the price of
corn, which had reached new high
record price at Chicago. Trading was
on light scale, but the undertone
was firm. Texas company stock was
weak early in the day, when John
w. Gates was falsely reported dead
but il recovered part Of it's loss
Brooklyn Rapid Transit was also
heavy for "a short time, because of
the threat made by President VIII
iarns TO withdraw from competition
for new subways.
Baltimore and Ohio directors paid
the regular dividend on the stock, al
though its payment left them a much
smaller surplus than last year. They
explained that this reduction in sur
plus was due chiefly TO higher wages
and improvements. Union Pacific be-
came strong after the Baltimore and
Ohio dividend was declared.
Cotton and Sugar Stocks Strong.
Stocks Of companies dealing In cot
ton oil were in good demand on the
theory that the big cotton crop prom
ised this year viii furnish an album
dance of cheap raw material for next
years operations. Two other stocks
in good speculative demand were
American Can and Beet Sugar.
Beet Sugar Is In a strong specula-
tive position. Congress is investigat-
Ing the sugar industry under the false
pretense OF laying the foundation for
some tarig reform There is really
no intention of reforming the sugar
tariff. because the government needs
the money derived from that indus
The Teal object tsf- the -iarestisa-
ton Is the hope OF discovering some
thing to injure some big politician.
But the investigation makes very
convenient club for the pool In Beet
Sugar, which In accommodating the
stock. The stock ready for declara-
ton for dividend. This dividend
may not cema FOR. a. zeal hut by. thai
time the stock viii be around 70.
American Ice Is Blamed.
The pool in American Ice has been
frightened out by the public clamor
against the ice company in this city
The American Ice Company for once
at least In It's existence seems to be
blamed for things done by its rivals.
II has not increased the price of Ice.
but the independents have done 80.
Small retailers have doubled the price
i'm parts OF the city, and TO cover up
this audacious steal they are raising
q haze and agy ahuas.t the American
Ice Company. If the American Ice
Company were a trust. as 1t was once.
with control of the Ice docks and
sources of supply. the complaint
would be justified. But. according to
official statements and the ordinary
trade reports, the American Ice con-
erols less than half of tho local busi-
ness.
The situation In ice Ii interesting.
because 1t In likely TO arise In any
other line OF American industry. Tn
successful business men who happen
to be engaged in a line Of business
that Is being successfully carried on
by big corporation are becoming
more and ready to blame the big COM
pany for failures that are really .due
to their own lack OF good Judgment.
The public mind Is 80 excited over
trusts that 1t gives these unreason-
able complaints a degree OF consid-
GRAFTON that IL increasing their num-
Der. This Is demoralixing to business
In general. and for that reason 1t will
be a good thing for the public, as well
as the so-called ice trust. IL the courts
do 20 ahead and prove officially what
the American Ice Company officials
insist Is a fact.