Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-09-30
STEEL MAKES ANOTHER
new H|CH-RECORD PRICE
All Little Stccls Climb Nightly,
Gains of 3.5 and q Points
Being Common.
100000 SHARE voLUNiI
Day Satisfactory From Constructive
Point of Nicw--Railway Equip
ment Shares of All Description
Promincnt-Alany New Accounts.
IT., uKo,DAy WALL.

ny nR0tDAN WALL.
NEW YORK. September 2a.=United
States Steel made another new high
record price to-day in Wall street.
and all tho little stcels climbed might
2,ooo,ooO share volume and the day
was VERY satisfactory from n CON
StfuCtiVc point OF view Many new
public. accounts We're opened, and. al
though professionals took profits ill.,
orally, the stock held firm.
In the early trading, railway equip
mcnt shares OF all descriptions We're
prominent. They opened in some
cases as much rs 2 points above the
the most active were Railway steel
Springs, American Car Foundry.
Pressed steel Car ana American 10
tho movement, thus established We're
improved from time 10 time during the
day. Nobody asked reasons for the
understood that the companies are
making anywhere from >! to 80 per
cent on their common stocks.
American Can. which has been quiet.
showed some SIGNS OF activity Whcn
it advanced to tho high record rricc
established last spring, shortly alter
i, did this official announcement was
made Of a l. per cent advance IN me
price OF its OUTPUT The can com,
pany provided itself with raw material
n wear ago to last It through the
boom days now being experienced. An
officer OF the company recently said
that at the present price of tin The
COMPANY could make more selling the
raw material on hand than IN max :
ing cans. The Increase in the price OF
cans. theretore, is "a, :, natmra! result l,e OF
making shells 10 the satisfaction of
the allies and millions of profit are
piling up on mat n acc, ,ho search
ing out and bringing forward of stocks
but little traded in; Cast Iron Fipe
DAY AT n material advance over the
previous quotation. General Electric.
which has been fayorite an .hr
,,is o mhp s"oH 70 do do Vii. '''
Rails were quiet. but the buying Of
them is OF the best kind President
OF much good ,natured GrliiGiSim, ne
cause OF his dolcfui talk about the
plight OF the railroads The only
trouble with the railroads just now Is
that they are unable to appreciate
their own prosperity.
Mr.. Ripley has an unhroken record
as a false prophet In every critical
period he has been prominent VIII.
his doleiul talk. and in every case ne
has been wronE; the street Is ,he[hfi s
present wailinr.
OF course ii the railroads are going
to buy equipment heavily NJ prcsrn'
prices. their money Will not go far,
but the industrials are showing them
the way by paHimg on All o "n.ssnta"i5
Where Urrent necessity demands
Westinghouse. Car FOUNDRY, Gfnei a !
Electric Baldwin and Il long llSt OF
prosperous concerns viii not distrinuie
war profits until every DEBT ihat II Is
possible 10 pay, on Is pald. New 81 ~
than debts, is going 50 FAR AS 10 III !.
Vest It's surplus rs reserve 70 nroIrft
its dividrnds for the future. Rrruhli-
can IroE. which has bccn y sta! per
former thiS week, has !alu away SO
much money that. accorGinS L" an
officer who was quoted to-day, IL couia
liquidate and pay, Sl2l ii snare /" '"e
common stockholders. .,.
SO the railroads arc learning WIS
dom and refusing to purchase equip
mcnt until the stock now IN use Is
about TO fa! to p'efieS IT. is ,L Ge' rnrs
equipment companies are TO receive big
orders in the next few weeks
Corners We're Hnie Iot guy ; IN GoP PRat
they would have their turn AGAIN IN
the near future. ,
Anaconda he not reached me MI, Viii
ward surge before long
NEW YORK. September ., peali"cs on
the Stock Exchange to-daE conriu'eu IN.
fourth successive Week, OF nv IN. Sio,, In
which transactions exceeded l.rNW" shares.
IN. ycars WHEN married. The many huge IN
dustria combina'!2ns M mTErIis; ,,5r,'.
To-day's turnover OF l5lN2e0 shares was
noteworthy for the enormous Droportlou OF
indusir.ris dealt In. this grnup completely
ccI!psing the rails. corners aud other Issues
United 'states [stvol lcd throurhout ON
sales q: about a'o.on' sharca Other iron
strength and activity Included tepublir Iron
and Steel at the nvw record OF st''
Gains Of 10 nearly . points were scored
by Colorado Fuel. American Gar. Cruz BILE.
1.uokswanna and Siurs sheffield stools. I"st
Iron Pipe Rail Stec! Suriurs, Pressed steel
Car, New York Air BRAKE IN! American
and Baldwin Locomotives. FRONT taking re-
duccd some extreme gains hy 10 points al
Rails were backward hut deplayed 5,
strong, underl"n" pariiru'%r!y Union Iacihc
IT. quarterly diyiGci.d twic. uver an advance
Of 2.s points Nauv war aud Scmiwa" :S.I"s
benefited bv the risc 10 industrials. together
with uofrulsulas and sugars.
Bond, were a.tive and strong Total sales,
Un,,cd states bonds unchanged ON cal
NEW YORK Soutemb"r % Nier.au.He mr.
per, 81. Sterling >iNty-daN bills. - ia: de-
Inand. 81 I5Ati cables s. .Gia Bar silver.
Ggi. MoSiuau dollars. -a.. Government
bonds ~t,-ly. i:HilrutG hura~, stroue Time
1oars. steady. sLNfv DAYS. ~ 81 ninety DAVIS.
2siN siH l0onth- %. 70 ~. Call money.
fiTmer: ruling rat". -