The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-08-30
OIL TRUST STOCK
TAKES BIG JUMP
ADVANCES $40 A SHARE WHEN
RuMoR OF 500 DIVIDEND
REACHES CURB.
OTHER STOCKS TUMBLE
TALK OF STRIKE ON ILLINOIS CEN
TRIAL AND FAILURE OF BOSTON
FROM REsULTs-IN FLOOD
OF SELLING ORDERS.
OTHER STOCKS TUMBLE

/ NEW YORK, Aug 2s-Van street
vas treated 10 an expected spectacle
to-day when Standard oil stock rose
$40 share and Standard Railroad
| and lndastrlals shares declined from
/ one 10 two points on the New York
Exchange
Strength and activity in Standard
| Oil stock On the curb market was due
n buying by brokers who usually
act for inside interests Of the com
paBt. Accompanying advice IN the
advance price was a wired rufnor
that cash dividend Of St00 g share
would BE- distributed to the present
stockholders 81 the company in add
ton 10 the securities OF the new COM
panies into which Standard OH is 10
be divided
All knowledge Of such dividend
vas denied q the headquarters Of
the company and Wall street imme
diateiy began theorizing as 10 what
was causing the advance. Brokers
who pay strict attention TO the tech
nicAi condition Of markets fer certain
high priced securities said they be-
lfeved the upturn marked the cessa-
tthn Of liquidation by small stock
holders,
Work of small Holders.
These small holders Tor the past
few weeks have been stes diy dis
posing OF their stock In the open mar
ket and under the weight of This
liquidation last week Standard Oil
sold down 70 the new low record
price Tor this Year of S5ss a share
These small shareholders disposed Of
their stock because they did not care
Ia receive the fractional parts Of the
which their present enterprise Is TO
he dissolved. In connection with the
liquidation II WAS said that practically
every share sold in the open market
vas picked up by brokers usually act
Ing for insiders OF the company.
ny reason Of the stock picked up
Within the past few weeks the CON
trolling as4terests @tt the eump aay. wilt
have frmer grip on the affairs
az the thirty-f3Ne com panies To ha
organized cat Of The elements Of the
Standard OH Company Of New jer-
sey than they have on present com
pany. Tomorrow is the last dav
persons owning the present Standard
esltL..GQm nan% stock San sell their
certificates, because Il is the last day
that the transfer department OF the
company Will transfer stock
Illinois Central Strike.
Following the irregular opening on
the stock exchange Standard Issues
became heavy and recorded substan-
tial fractional losses. hut the advance
in Standard oil on the curb steadied
the list. A saggiug tendency extended
10 the last hour or the session. how
ever, when announcement was made
that complete arrangements for an
immediate strike had been made by
the Illinois Central.
This announcement ernpha sized the
Importance of Ntce-President krutt-
schnitts statement early in the day
that the demands Of the new fedora !
zion would be rejected by the Harri-
man lines.
A flood or selling orders carried
southern Pacific to the new low price
for this year IF i8s SIS ARA Missouri
Pacific TO 70 Ia. Union Pacific, Read
ing and Steel came within fractions
OF their low records established last
Saturday Failures Of the Boston
brokerage frm of Cram. Miliikin and
Company With liabilities placed at