The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-09-20
|DlIII0h
North The NAME
IL AMERIcAx CAV ArrRAcrs
Sxxrx1,os Axoss sRokEas
IN srREEr.
s$ -------------
rOCKS SELLS CHEAP
Ss1pox REPoRTs THAT MILLION
S|s nolLARs OF SOUTH AFRICAN
coLn u BOUGHT ny
AMERICANS.
.~ rHnMAs q. sHoTwEaI..

4f5tW YORK. Sept. 19s---American
Il 1xSn md United Cigar Stores were the
Eir things in the stock market To-Day
e Il IN u,oyfnr briskly to new high re-
4 2 S,vs9u a hirh record was made oy
4 22;wcIvorth stock, which sold at par.
the general narket Was hrm' anu
&gith little business except In stee.
And Reading. Money on cali dio NJ.
d &.s abuva per cent. London re-
y s2s's~tsa that a million dollars of South
Sxrican gold had been purchased
sfhsrr for New York account II was
eSnurted from Washington that the
Srsasury department stands ready 10
4 1eDOeif We, JBU, QUO IN WESTERN panfs
! III crop moving purposes the minute
N u wanted. No money is needed
\ ~ New York for any other purpose
IRAN moving crops and nnahcihk
4 ur0aperitF. There IL no speculation
Z Is the stock market worth the name.
g The move in Can attracted much
I = sfenfson because there was some
10ubf as to its Official character.
Rsnders OF this column understand
4horougfly why the stock Is seliins
1 ~ under its true value, but II may
fake 4 couple Of years to develop
4 ~ rafue so that the general puntic
Nrill believe 1t is worth the money.
d IN The meantime. the insiders are
amply standing there taking all the
stock that professionals care to sell
ana never setting any. The same IL
! true OF United Cigar Stores
Brokers Buy Can.
Ii In also true that some brokers
nrs arunmmuiatsnE Can In aHtieipa-
4f0n s,f having a market made for them
~ Daniel q. Reid. when he returns
a his Office on October LIST. While
N. stock IN cheap in the light OF cur
rent earnings, 1t is barely possible
I af,at these brokers have been trims
hnsty. Like Cigar Stores, the value
81 Can must be demonstrated from
month 10 month. and In both cases
4 business liz growing rapidly. An ON,
rfai OF the United states Industrial
v A1cohol was quoted to-day az sayine
that the alcohol company could no'
increase its output at present, De-
cause II could not get cans fss'
erpuxh TO enable IL to run It's plants
IN full capacity. All can companies
I no struggling TO keep mp with fnefi
orders. which have grown Tar beyono
manufacturing capacity. incidentally
f1fts situation calls attention TO tins
strong position of Industrial Alcoho
stock The situation in the Cigar
stores company is that the concern
~ doing only about s per cent OF the
y
IN the Enited States. and it intends to
10 d great deal more.
Further advances IN the price oil
steel are expected IN the near fu-
4urc. steel shares were strong. neal
the best of the year, copper stocks
s<re all Arm Utah Copper was
4 picked UP by bargain hunters, as were
Chino and Ray Consolidated. Tbs
8trika at the Utah properties VIII DC
1 ekortifyed, as a matter of business
alone, but in addition to that, the
governor of the State Is taking Wig
orous measures TO quiet the men.
VIII Advance RiHe.
Owing to the heavy exports from
che United States that will be neces-
kxry 10 supply Europe with food ou'
! AZ america bounty, bank rates must
III advanced soon to furnish funds
\ ~ finance this business. The English
ana French banks are In strong po'
s astton. but America will make such
drains on them that IL VIII not be
hang before the wise acres will be tell
Snx an astonishing populace how the
4 governors Of the Bank OF England
IN order To rebuke Wall Street specu-
I aAtors. have advanced the discount
rate The true reason for the advance
4 n the rate will be overlooked by the
Anrlomaniaes. who imagine that the
HANK al England, or all the combined
1 hanks of the world can commano
American prosperity to halt or force
vrjdeawake traders to keep their HANDS
ON the bargains that are Offering In
the stock market.