Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-08-05
NET GAINS ARE SHOWN
AT CLOSE OF MARKET
While Advances Are Small. They
Represent Best Sentiment
i'm Street.
SHORTS MUCH ovERExTENDND
There Is Uphcaval in Grain. Amount
ing to More Than i Cents Bushcl.
Strength of Mercantile Marine
Bonds Arc Feature of Day.
BY nRoADAN WALL.

RI hhoADtS w NIL.
NEW YORK, August 4.--Nct gains
predominated at the markets close
to-day. They were small. but repre-
scented the best sentiments in the
ish and professional short interests
much ovcr-cXtended one popular
commission house is reported TO be
short in S25o,0o0 shares OF stock for
customers.
In the early trading to-day tho mar
ket was strong throughout, but an
other uphcaval in grain amounting 10
more than cents bushel on wheat.
cent on corn and more than ! cent
on oats, with a further rise in cotton.
weakened the whole list.
Professional traders attacked the
motors aeain, but encountered resist :
earnings for the year ending June 80
became public. They showed gain
OF slo.3S4.775 in net as a result Of all
operations after paying taxes. They
amounted to above l6 per cent for
the account OF the common stock and
justified the current talk Of an eN.
was responsible for some good BUY
ing in the general market. although
Union Pacific itself remained dull
Good buying of Steel also made its
appearance. not SO much in volume as
in price The whoe list strengthened
and continued TO improve up to the
close.
one feature OF the day was the
strength OF international Mercantile
Marine bonds and stocks. This was
the direct result OF the publication of
completed. and that the company will
not be compelled to issue short-term
notes as was contemplated
An officer of tho Steel Corporation
was quoted to-day as saying that in
be at least sl6o, 900. He is alleged
to have made this statement at the
would mean s3oo.ooo,Ooo for the year.
and after preferred dividends. would
be above 30 per cent on the common
stock
Not only arc these great earnings
ton is filled UP with high priced bust
ness for tho middle Of next year. one
most important factor is that the rail
roads have withheld business that sim
ply must be done. 1t Will furnish a
vast amount OF business To keep the
companies busy when the var orders
end.
Aside from the action of the stocks,
little was heard In the stree, OF the
that both of these have about dis
counted the bad features.
Mexico contributed something TO the
days cheerfulness.. with tho report
that Carranza and President Wilson
are rapidly approaching settlement
OF ali difficulties.
All railroad reports showed large in
creases in gross, but net is beginning
to shrink. as there have been no in
crenses OF wages nor great cNpcndl-
lures for improvements. The pre-
sumption is that this money has been
arbitrarily written off against posi-
Bile unusual losses in the near future.
II will be remembered that few
years ago some Of the railroads wrote
off the price OF rolling stock they need
ed. but did not care To purchase at
the time.
People on the trade insist that the
present unsettled condition of the
sugar market is due to manipulation
wan, TO pick mp large, quantities Of
sugar. The same tactics were used
in copper, but without success.
NEW YORK. August 4-pealings in to-
days iistlcss market differed in no
tial particular from those OF recent
ceHaie,!ns e5ggn news, alseoouraeinr deo1
earnings and the further easing Of mercy
rates We're ignored or received with iniif.
ference and sentiment, among traders lost
shipping shares were tho leaders tho
,gpG@vsr IN Marine G%mmon ana nre.-Ts
Marine =: pcr cent bonds We're also active
as S5 nfM Ss OF 1i nma E Ma sb5ra
rallied slightly from their low levels o:
,Pe,soleums were slightly more steady al.
,hoagh trade conditions were wirhou.
n yts,s anG mutations were apathetts With
gain lost ground
Ih;a S st.S s, sFd" he fqT,hs1
tost Q: th4~ da. but the latter shaded in The
final hour.
The ,rGegulaF bond, mark, followed ,he
course OF stocks and lacked especial fea-
lures. Offerings Of international issues
showed steady lim.nution. Total sales
United States bonds. unchanged on call
NEW YORK Angus, i-Mercan,uc cs,.-
s&di Sterling cables $i5s7 -lS Bar s,i,
Yer. 81 Mexican dollars ioA. Govern
!ne"i bonds. steady. Railroad bonds .rr.c,-
lar Time loans. easy Sxty days. a.
ninety days. q 80. s!& months, 3. at cali
money STEADY. ruling rate. -.