The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-09-01

NV YORK. Aug. 2f.-stoek Of the
Standard OF Company celebrated the
last day % its existence In Wall street
BY advancing SIS II share, but losing
IS share Of this gain before the
close Of the session. All dealings N
the stock were for cash. to-day being
TIE last Gay that the stock could be
transferred. Hereafter all STANDARD
93t stock traded III VIII ba tex-sub-
salaries, which means that the pur-
chaser Of the stock will not be en-
titled To participate in the distribution
q the securities Of the subsidiary COM
panies,
There was & bid In the market to-
day or 3l4 for Standard OH stock,
"eA- subsidiaries ana an asked price
If SEQ, bat no trades We're consum-
mated on this basis. owing to the
inability OF the insiders Of the com
pany or the specialists in the stock 70
tx even aa approximate value Of the
stock, minus It's share Of the subsid-
larry companies.
The work OF making out certificates
OF tire subsidiary companies III the
names Of persons now holding stock
Of the Standard OH Company Of New
Jersey, VIII take from two to three
months, owing TO the fact that the
shares OF thirt%0ve new companies
viii be distributed
Z No Activity Displayed.
Owing TO the forthcoming holiday q
three days ard q desire to await the
Outcome Of the conferences between
officials 81 the Hartman lines and
representatives. eE their employees.
spectators and investors were less ac-
tive.
Trading was dali through out the
session. ana the little business trans-
acted represented the covering opera
tons Of snotts. Nho We're apprehensive
lest some fax CRADLE development occur
between the close OF business to- day
and the opening next Tuesday
Tbs quiet biading for the short ac-
count advanced standard issues an
average of u point early In the day,
bat most of this gain was lost before
the close, Dealings were hsavies IN
United States Steel common, Onion
faelac and Reading. the combined
transactions Of which amounted 10
about so per cent. OF the whole day $
business, .e5. ...f.
Lehioh Valley Falls.
Although the zone OF the market was
distinctly better the session was not
without lis new low records, l~ehigh
Valley aad Texas Company shares
coming in for this distinction. Lehsgh
Valley Was nQuidated freely early IN
the forenoon aud declined TWO points,
but recovered ali bat half point OF
this loss before the end OF trading.
Its low price was 155 Ia. while
Texas Company stock touched 81, a
decline of 90 points from the recent
high price established shorty after
the stock was admitted to trading
An Ia. T,NGnNnQ@
1t is evident from the character Of
the liquidation of Texas Company
stock that there is some doubt on the
part Of the insiders OF the concern,
as to whether the company can main
tain its present dividend in view of
It's recent extensive ACQUISITIONS ana
Improvements AS against the declln-
Ing price OF. petroleum.
American Tobacco Strong.
American Tobacco bonds and pre-
ferred stock were strong throughout
the session. due to announcement
following the conference between the
counsel for the company and Attor-
ney- G General W-ickersham. that fur
! Their progress had been made with
regard to the formation of a plan for
reimbursement OF the companys Sc
curities.
The heavy movement OF currency
To the interior that always occurs
at thi slime of the year. owing TO
the necessity of moving the crops
is gazing momentum and banks re-
port that since last Friday their in
terror correspondents have drawn on
them for over $4,000, oo0. which is
about. $4,000, GOO greater than the
demand for the same period last
week,
The call money rate was fraction
ally higher in anticipation of increas-
ed demands from this snlrfa