The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-09-07
STOCKS ADVANCE
On LIGHT TRADE
UPWARD MOVEMENT CONES IN
EARLY MORNING FoH PROFIT
TAXING IN AFTERNOON.
ONLY TRADING AFFAIR
AMERICAN TOBACCO AND STAND
.~.sa
ARD OIL CERTAIN TO GIVE
INVESTORS GOOD PROFIT
ON MONEY.


NEW YORK. Sept. TN a day
OF light trading stocks advanced fur
Their. Most OF the upward movement
WAS accomplished In the early hours.
In the afternoon profit taking shaded
all quotations. but the close was
strong Declaration Of an increased
dividend by tho marlborough Rapid
Transit Company caused free profit
taking In the securities of It's allied
com pan!es. Conspicuous strength
was shown by American Beet
sugar because Of the dividend to be
declared before the end OF this calen-
dar year
While the market Is expected to
advance several points further on this
movement ii Ia purely "a trading af-
fatr, the buying being shisry fer
short and speculative account. Al
though there has been considerable
short covering tho technical posi-
ton In still strong. Much more stock
will be liquidated, however, should
the advance be carried much fur
Their, and renewed liquidation will
also follow the decline when II be-
gins again,
Market is Encouraged.
Trading in the stocks or the Ameri-
can Tobacco and Standard OIL Com
panies was OF such a nature as to
encourage the whole market. 1t is
we'll known that Standard on has
material assets worth somewhere be-
tween 5000. 100000 and 1900, 0oo. o0o
at forced sale. The old Standard
Oil stock has a value Of not less
than $1,000 share and the insiders
have been the heaviest purchasers al
the recent low levels Insiders OF
the American Tobacco Company have
also bought the common stock and
the bonds OF their own company
freely, The result is goingNo be that
dissolution OF the Two corn IA Mas Will.
not in1ure the security holders at all
II II were not for the disaster in
connection with the crops and the war
that is hrooding between organized
labor and capital in connection with
the proposed enforcement of the Sher-
man antitrust law, one could ex-
pect the stock market to have a re-
covery instead of "A mere rally.
Although n dividend had been ex-
peeted on American Beet Sugar COM
mon stock in September II may be
that the declaration Will he delayed
few weeks owing to the absence
OF President Duval In Europe. The
statement was originally made In the
International News Service that
American Beet Sugar would receive
Il dividend this year and that state
ment lis repeated by authority AS a
stock that Will soon be on per
cent. dividend basis. II In very cheap.
Satisfies Curiosity.
Increase OF the marlborough Rapid
Transit dividend caused curious
Wall street person to get on a sub
way train at Wall street at IL o'clock
and ride to upper Broadway and back
Just to see the condition OF busi-
ness He found the trains crowded
even at midday.
RAILROAD reports for the last week
OF August surprised the street with
sonae drastic reductions made In
operating expenses, Although Great
Northern earned s4e.543 less In gross.
the operating expenses were reduced
so a. to give a net increase OF s453.-
3as.
che Steel Corporation and the
Copper Producers Association will
make their usual monthly statements
this week. The Steel Trust In expect
ed to show that although operating
at $ per cent. Of Its capacity It has
gained more than 1000 tons In un-
flied orders The Copper Producers
Association expects to make much
less favorable report from a stock
market point OF view as was the one
Of the previous month.